Federal Housing Finance Board December 2006 – Federal Register Recent Federal Regulation Documents

Limitation on Issuance of Excess Stock
Document Number: E6-22325
Type: Rule
Date: 2006-12-28
Agency: Federal Housing Finance Board, Agencies and Commissions
The Federal Housing Finance Board (Finance Board) is adopting a final rule limiting the ability of a Federal Home Loan Bank (Bank) to create member excess stock under certain circumstances. Under the rule, any Bank with excess stock greater than 1 percent of its total assets will be barred from further increasing member excess stock by paying dividends in the form of shares of stock (stock dividends) or otherwise issuing new excess stock. The final rule is based on a proposed rule that sought to impose a limit on excess stock and establish a minimum retained earnings requirement. The final rule deals only with the excess stock provisions of the proposal. The Finance Board intends to address retained earnings in a later rulemaking.
Sunshine Act Meeting Notice; Announcing an Open Meeting of the Board of Directors
Document Number: 06-9793
Type: Notice
Date: 2006-12-20
Agency: Federal Housing Finance Board, Agencies and Commissions