[Federal Register Volume 59, Number 214 (Monday, November 7, 1994)]
[Unknown Section]
[Page 0]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-27451]


[[Page Unknown]]

[Federal Register: November 7, 1994]


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FEDERAL HOUSING FINANCE BOARD

12 CFR Part 900

 

Hearings on the Federal Home Loan Bank (FHLBank) System and 
Recommendations for FHLBank Legislation

AGENCY: Federal Housing Finance Board.

ACTION: Notice of public hearing and request for comment.

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SUMMARY: The Federal Housing Finance Board (Finance Board) is hereby 
announcing a public hearing and requesting comment on the FHLBank 
System's (System) contribution to housing and community lending, the 
FHLBank System's potential for improving its support of community 
lenders and recommendations for legislation to modernize the FHLBank 
System.

DATES: The public hearing will be held on December 8 and December 9, 
1994, beginning at 9 a.m. on both days. Written requests to participate 
in the hearing must be received no later than November 16, 1994.

ADDRESSES: The hearing will be held at the Office of Thrift Supervision 
Amphitheater, 1700 G Street NW, Washington, DC 20552. Send requests to 
participate in the hearing, written statements of hearing participants, 
or other written comments to Elaine L. Baker, Executive Secretariat, 
Federal Housing Finance Board, 1777 F Street NW, Washington, DC 20006. 
The submissions may be mailed, hand delivered or sent by facsimile 
transmission to (202) 408-2895. Submissions must be received by 5 p.m. 
on the day they are due in order to be considered received by the 
Finance Board. Late filed, misaddressed, or misidentified submissions 
may affect eligibility to participate in the hearing.

FOR FURTHER INFORMATION CONTACT: Kerrie Ann Sullivan, External Affairs 
Specialist, (202) 408-2515, or K. Scott Baker, Manager, Congressional 
Affairs, (202) 408-2980. Federal Housing Finance Board, 1777 F Street 
NW, Washington, DC 20006.

SUPPLEMENTARY INFORMATION: Pursuant to a request by Nicolas P. 
Retsinas, the Department of Housing and Urban Development Secretary's 
Designee to the Finance Board, the 12 Federal Home Loan Banks conducted 
public forums in August and September of 1994 to seek comment on three 
topics: (1) The contribution of the System and its members to housing 
and community development lending; (2) the capacity for the System to 
support community lenders and community-based lending; and, (3) 
appropriate System governance structure. Each FHLBank public forum 
discussed several related questions:
    (1) How can the System facilitate housing and community development 
lending through the existing network of community-based lenders?
    (2) How should the community development mission of the System be 
defined with regard to the types of lending and collateral requirements 
compatible with the safety and soundness requirements of the System?
    (3) How is the changing membership base affecting the System?
    (4) Building on the success of the Affordable Housing and the 
Community Investment programs, how can we demonstrate the contribution 
that member institutions make through the regular advances program.
    (5) What type of System governance structure would enable the 
System to better realize its public purpose potential, while ensuring 
continued safety and soundness?
    The Finance Board is interested in the views of System members, 
community groups, trade associations, government sponsored enterprises, 
federal and state agencies and others on the topics addressed in the 12 
FHLBank forums. To assist interested persons in responding, summaries 
of the sessions held by the FHLBanks will be made available prior to 
the public hearing. Requests for this material may be made by writing 
or calling (refer to the information listed in the ADDRESSES portion of 
this notice). Most of these issues were also addressed in five reports 
on the FHLBank System submitted to Congress pursuant to the Housing and 
Community Development Act of 1992. Congressionally-mandated reports 
were submitted by the Finance Board, the Department of Housing and 
Urban Development, the General Accounting Office, the Congressional 
Budget Office and a FHLBank Shareholder Study Committee.
    Additionally, the Finance Board invites testimony regarding 
potential FHLBank legislation. Specifically, the Finance Board welcomes 
testimony on what should be contained in a comprehensive FHLBank 
legislative package addressing the following four areas: (1) The 
structure of FHLBank capital; (2) the statutory definition of the 
FHLBank System's mission; (3) FHLBank membership and borrowing 
requirements; and, (4) the appropriate structure of FHLBank System 
regulation and governance.
    On December 8, the Finance Board hearing will be directed at the 
topics that were the subject of the FHLBank public forums and on the 
issues to be addressed in legislation. On December 9, the Finance Board 
will arrange panels on each of four specific legislative issue areas. 
Witnesses should indicate a preference for either testifying during the 
more general discussion on December 8 or identify a specific topic 
panel on which they would like to participate on December 9.
    Persons wishing to participate in these hearings should send a 
written request to the address listed in the ADDRESSES portion of this 
notice, to be received no later than November 16, 1994. A request to 
participate in the hearing must include the following information:
    (A) The name, title, address, business telephone and fax number of 
the participant;
    (B) The entity or entities that the participant will be 
representing;
    (C) An indication as to the witnesses' preference to testify on the 
more general topics of December 8 or on one of the following specific 
panels planned for December 9: (1) The structure of FHLBank capital; 
(2) the statutory definition of the FHLBank's mission; (3) statutory 
FHLBank membership and borrowing requirements; and, (4) the appropriate 
structure of FHLBank regulation and governance.
    Depending on the number of requests received, participants may be 
limited in the length of their oral presentations. However, the Finance 
Board will provide time at the end of the December 8 hearing for brief 
general comments from the public. The Finance Board will notify 
participants of the date and time scheduled for their presentation. In 
establishing panels of participants for presentations, the Finance 
Board reserves the right to limit the number of participants and to 
select, at its discretion, those persons who may make oral 
presentations if more requests are received for participation than may 
be accommodated in the time available.
    Participants will be required to submit written statements in 
advance of the hearing date. These written statements should 
incorporate the major points to be presented at the hearing and should 
be accompanied by an executive summary of no more than three to five 
pages. Written statements must be received no later than November 28, 
1994, and should be sent to the address listed in the ADDRESSES portion 
of this notice.

    By the Federal Housing Finance Board.
Nicolas P. Retsinas,
HUD--Secretary Designee to the Board.
[FR Doc. 94-27451 Filed 11-4-94; 8:45 am]
BILLING CODE 6725-01-P