Federal Housing Finance Board 2010 – Federal Register Recent Federal Regulation Documents

Minority and Women Inclusion
Document Number: 2010-32541
Type: Rule
Date: 2010-12-28
Agency: Federal Housing Finance Board, Agencies and Commissions, Federal Housing Finance Agency
The Federal Housing Finance Agency (FHFA or agency) is adopting a final rule to implement section 1116 of the Housing and Economic Recovery Act of 2008 (HERA). Section 1116 of HERA requires FHFA, the Federal National Mortgage Association (Fannie Mae), the Federal Home Loan Mortgage Corporation (Freddie Mac), and the Federal Home Loan Banks (Banks) to promote diversity and the inclusion of women and minorities in all activities. The final rule implements the provisions of section 1116 of HERA that apply to Fannie Mae, Freddie Mac, and the Banks.
Members of Federal Home Loan Banks
Document Number: 2010-32467
Type: Proposed Rule
Date: 2010-12-27
Agency: Federal Housing Finance Agency, Federal Housing Finance Board, Agencies and Commissions
The Federal Housing Finance Agency (FHFA) is undertaking a review of its regulations governing Federal Home Loan Bank (Bank) membership to identify provisions that may need to be updated to ensure that they remain consistent with the statutory provisions that require a nexus between Bank membership and the housing and community development mission of the Banks. This Advance Notice reviews the statutory provisions governing Bank membership and the regulatory provisions that implement those statutory requirements, suggests various ways that the regulations might be amended within this statutory framework, and invites comments on each of the possible alternatives.
Use of Community Development Loans by Community Financial Institutions To Secure Advances; Secured Lending by Federal Home Loan Banks to Members and Their Affiliates; Transfer of Advances and New Business Activity Regulations
Document Number: 2010-30519
Type: Rule
Date: 2010-12-09
Agency: Federal Housing Finance Board, Agencies and Commissions, Federal Housing Finance Agency
Section 1211 of the Housing and Economic Recovery Act of 2008 (HERA) amended the Federal Home Loan Bank Act (Bank Act) to expand the types of eligible collateral that community financial institution (CFI) members may pledge to secure Federal Home Loan Bank (Bank) advances to include secured loans for community development activities and to allow Banks to make long term advances to CFI members for purposes of financing community development activities. Section 1211 further provides that the Federal Housing Finance Agency (FHFA) shall define the term ``community development activities'' by regulation. To implement these provisions, FHFA is amending the advances regulation to allow CFI members to pledge community development loans as collateral for advances and is adopting a definition of ``community development'' as proposed. The final rule also will transfer the advances and new business activities rules from parts 950 and 980 of the Federal Housing Finance Board (FHFB) regulations, to new parts 1266 and 1272 of the FHFA regulations, respectively, and make other conforming amendments. Finally, the final rule will make a change to the advances regulation to incorporate a long-standing policy previously established by the FHFB that secured lending to a member of any Bank is an advance that must meet the requirements of the advances regulation. The final rule language has been clarified to assure that certain types of transactions, such as derivatives, will not be considered secured lending for the purposes of this provision. The new provision addressing secured lending does not include a prohibition on secured transactions with affiliates of members, as was initially proposed.
Federal Home Loan Bank Liabilities
Document Number: 2010-28178
Type: Proposed Rule
Date: 2010-11-08
Agency: Federal Housing Finance Board, Agencies and Commissions, Federal Housing Finance Agency
The Federal Housing Finance Agency (FHFA) is proposing to re- organize and re-adopt existing Federal Housing Finance Board (Finance Board) regulations dealing with consolidated obligations (COs), as well as related regulations addressing other authorized Federal Home Loan Bank (Bank) liabilities and book-entry procedures for COs, as new part 1270 of the FHFA regulations. The proposed rule would also make changes to the regulations governing COs to reflect recent statutory amendments which removed authority from FHFA to issue COs on which the Banks are jointly and severally liable and provided this authority to the Banks themselves. Otherwise, FHFA is proposing to re-adopt most of the regulatory provisions addressed in this rulemaking without substantive amendment.
Information Sharing Among Federal Home Loan Banks
Document Number: 2010-24578
Type: Proposed Rule
Date: 2010-09-30
Agency: Federal Housing Finance Board, Agencies and Commissions, Federal Housing Finance Agency
Section 1207 of the Housing and Economic Recovery Act of 2008 (HERA) amended the Federal Home Loan Bank Act (Bank Act) to require the Federal Housing Finance Agency (FHFA) to make available to each Federal Home Loan Bank (Bank) information relating to the financial condition of all other Banks. Section 1207 also requires FHFA to promulgate regulations to facilitate the sharing of such information among the Banks. This proposed rule would implement those HERA provisions, and also would transfer to new part 1260, without substantive change, existing regulations of the former Federal Housing Finance Board (Finance Board) relating to the filing of regulatory reports by the Banks.
Rules of Practice and Procedure
Document Number: 2010-19567
Type: Proposed Rule
Date: 2010-08-12
Agency: Federal Housing Enterprise Oversight Office, Department of Housing and Urban Development, Federal Housing Finance Board, Agencies and Commissions, Federal Housing Finance Agency
The Federal Housing Finance Agency (FHFA) solicits written comment on a proposed rule to implement the Housing and Economic Recovery Act of 2008 (HERA) amendments to the Federal Housing Enterprises Financial Safety and Soundness Act of 1992 (Safety and Soundness Act) and the Federal Home Loan Bank Act (Bank Act) pertaining to the civil enforcement powers of FHFA, and the Rules of Practice and Procedure for enforcement proceedings. The Safety and Soundness Act, as amended by sections 1151-1158 of HERA, authorizes FHFA to initiate enforcement proceedings against the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation (together, the Enterprises) and the Federal Home Loan Banks (the Banks) (collectively, the regulated entities), and entity-affiliated parties as defined in the Safety and Soundness Act. When final, the rule will replace the existing Rules of Practice and Procedure promulgated by the Office of Federal Housing Enterprise Oversight (OFHEO) and the Federal Housing Finance Board (Finance Board) formerly charged with overseeing the regulated entities. The proposed rule may provide FHFA personnel, the regulated entities, entity-affiliated parties, and other interested parties with the clear guidance necessary to prepare for and participate in the administrative enforcement action process to increase the efficiency and transparency of FHFA's administrative enforcement hearings.
Federal Home Loan Bank Investments
Document Number: 2010-10426
Type: Proposed Rule
Date: 2010-05-04
Agency: Federal Housing Finance Board, Agencies and Commissions, Federal Housing Finance Agency
The Federal Housing Finance Agency (FHFA) is proposing to re- organize and re-adopt existing investment regulations that apply to the Federal Home Loan Banks (Banks) and that were previously adopted by the Federal Housing Finance Board (Finance Board) as new part 1267 of the FHFA's regulations. FHFA is also proposing to incorporate into the new part 1267 limits on the Banks' investment in mortgage-backed securities (MBS) and certain asset-backed securities (ABS) that are now set forth in the Financial Management Policy (FMP) that had been issued by the Finance Board. If the proposed rule is adopted in its current form, FHFA expects to terminate the FMP as of the effective date of the new rule.
Board of Directors of Federal Home Loan Bank System Office of Finance
Document Number: 2010-10075
Type: Rule
Date: 2010-05-03
Agency: Federal Housing Finance Board, Agencies and Commissions, Federal Housing Finance Agency
Governed by the Federal Housing Finance Agency's (FHFA) regulations, the Federal Home Loan Bank System's (Bank System) Office of Finance issues debt (``consolidated obligations'') as agent for the Federal Home Loan Banks (Banks) on which the Banks are jointly and severally liable and publishes combined financial reports on the Banks so that members of the Bank System, investors in the consolidated obligations, and other interested parties can assess the strength of the Bank System that stands behind them. The Office of Finance (OF) is governed by a board of directors, the composition and functions of which are determined by FHFA's regulations. FHFA's experience with the Bank System and with the OF's combined financial reports during the recent period of market stress suggests that the OF and the Bank System could benefit from a reconstituted board and strengthened audit committee. This regulation is intended to achieve that end.
Federal Home Loan Bank Directors' Eligibility, Elections, Compensation and Expenses
Document Number: 2010-7418
Type: Rule
Date: 2010-04-05
Agency: Federal Housing Finance Board, Agencies and Commissions, Federal Housing Finance Agency
In this rulemaking, the Federal Housing Finance Agency (FHFA) is adopting a final rule that implements two separate proposed rules, which relate to Federal Home Loan Bank (Bank) director elections and director compensation, respectively. As to director elections, FHFA is amending its regulations relating to the process by which successor Bank directors are chosen after a directorship is redesignated to a new state prior to the end of the term as a result of the annual designation of Bank directorships. Under the final rule, the redesignation causes the original directorship to terminate and creates a new directorship that will be filled by an election of the members.
Minority and Women Inclusion
Document Number: 2010-4768
Type: Proposed Rule
Date: 2010-03-08
Agency: Federal Housing Finance Board, Agencies and Commissions, Federal Housing Finance Agency
The Federal Housing Finance Agency (FHFA) is issuing notice and opportunity for the public to comment on this proposed rule on minority and women inclusion. Section 1116 of the Housing and Economic Recovery Act of 2008 amended section 1319A of the Federal Housing Enterprises Financial Safety and Soundness Act of 1992, requiring FHFA, the Federal National Mortgage Association, the Federal Home Loan Mortgage Corporation, and the Federal Home Loan Banks to promote diversity and the inclusion of women and minorities in all activities. Consequently, FHFA published a proposed rule for comment on January 11, 2010, which was intended to achieve that end. The proposal had a comment period of 60 days, but FHFA has decided to extend the comment period an additional 45 days.
Federal Home Loan Bank Housing Associates, Core Mission Activities and Standby Letters of Credit
Document Number: 2010-3612
Type: Rule
Date: 2010-02-24
Agency: Federal Housing Finance Board, Agencies and Commissions, Federal Housing Finance Agency
The Federal Housing Finance Agency (FHFA) is transferring regulations of the former Federal Housing Finance Board (Finance Board)
Use of Community Development Loans by Community Financial Institutions To Secure Advances; Secured Lending by Federal Home Loan Banks to Members and Their Affiliates; Transfer of Advances and New Business Activity Regulations
Document Number: 2010-3407
Type: Proposed Rule
Date: 2010-02-23
Agency: Federal Housing Finance Board, Agencies and Commissions, Federal Housing Finance Agency
Section 1211 of the Housing and Economic Recovery Act of 2008 (HERA) amended the Federal Home Loan Bank Act (Bank Act) to expand the types of eligible collateral that community financial institution (CFI) members may pledge to secure Federal Home Loan Bank (Bank) advances to include secured loans for community development activities and to allow Banks to make long-term advances to CFI members for purposes of financing community development activities. Section 1211 further provides that the Federal Housing Finance Agency (FHFA) shall define the term ``community development activities'' by regulation. Consequently, FHFA is proposing to amend the advances regulations to allow CFI members to pledge secured loans for community development activities as eligible collateral for advances, to provide that CFI members may use long term advances to fund community development activities and to define ``community development,'' ``community development loan,'' and other related terms necessary to implement these provisions. The proposal would also transfer the advances and new business activities regulations from the Federal Housing Finance Board (FHFB) regulations to the FHFA regulations, and make other conforming amendments. Finally, the proposed rule would also make a change to the advances regulation which would incorporate a long-standing policy previously established by the FHFB that any form of secured lending by a Bank to a member of the Federal Home Loan Bank System (Bank System) is deemed to be an advance. The proposed rule would extend that policy to cover secured lending transactions by a Bank to affiliates of members.
Minority and Women Inclusion
Document Number: 2010-111
Type: Proposed Rule
Date: 2010-01-11
Agency: Federal Housing Finance Board, Agencies and Commissions, Federal Housing Finance Agency
The Federal Housing Finance Agency (FHFA or agency) is issuing notice and opportunity for the public to comment on this proposed regulation on minority and women inclusion. Section 1116 of the Housing and Economic Recovery Act of 2008 amended section 1319A of the Federal Housing Enterprises Financial Safety and Soundness Act of 1992, requiring FHFA, the Federal National Mortgage Association, the Federal Home Loan Mortgage Corporation, and the Federal Home Loan Banks to promote diversity and the inclusion of women and minorities in all activities. The proposed rule will implement this provision.
Federal Home Loan Bank Membership for Community Development Financial Institutions
Document Number: E9-31003
Type: Rule
Date: 2010-01-05
Agency: Federal Housing Finance Board, Agencies and Commissions, Federal Housing Finance Agency
The Federal Housing Finance Agency (FHFA) is amending its membership regulations to implement provisions of the Housing and Economic Recovery Act of 2008 (HERA) that authorized community development financial institutions (CDFIs) that have been certified by the CDFI Fund of the U.S. Treasury Department (CDFI Fund) to become members of a Federal Home Loan Bank (Bank). The newly-eligible CDFIs include community development loan funds, venture capital funds, and State-chartered credit unions without Federal insurance. This final rule sets out the eligibility and procedural requirements that will enable CDFIs to become members of a Bank and relocates part 925 in its entirety to part 1263. FHFA also is amending its community support regulations to provide that certified CDFIs may be presumed to be in compliance with the statutory community support requirements by virtue of their certification by the CDFI Fund and relocates part 944 in its entirety to part 1290.