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

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.