[Federal Register Volume 60, Number 159 (Thursday, August 17, 1995)]
[Rules and Regulations]
[Page 42779]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-20218]



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FEDERAL HOUSING FINANCE BOARD

12 CFR Part 934

[95-17]


Procedures for Federal Home Loan Bank Access to Nonpublic 
Information of Federal Financial Regulatory Agencies

AGENCY: Federal Housing Finance Board.

ACTION: Final rule.

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SUMMARY: The Federal Housing Finance Board (Finance Board) is 
promulgating a final rule on the procedures by which the Federal Home 
Loan Banks (FHLBanks) request, receive and store sensitive, nonpublic 
financial data from the Department of the Treasury, the Comptroller of 
the Currency, the Board of Governors of the Federal Reserve System, the 
Office of Thrift Supervision, the Federal Deposit Insurance Corporation 
and the National Credit Union Administration (federal financial 
regulatory agencies).

EFFECTIVE DATE: August 17, 1995.

FOR FURTHER INFORMATION CONTACT: David A. Guy, Associate General 
Counsel, Office of General Counsel, Federal Housing Finance Board, 1777 
F Street NW., Washington, D.C. 20006, 202-408-2536.

SUPPLEMENTARY INFORMATION: Pursuant to section 22 of the Federal Home 
Loan Bank Act (Bank Act), 12 U.S.C. 1442, the FHLBanks periodically 
request confidential financial data from the federal financial 
regulatory agencies regarding FHLBank member institutions. On December 
7, 1990, the Finance Board promulgated an interim final rule detailing 
the procedures by which the FHLBanks request, receive, and maintain 
this information. See 55 FR 50545 (Dec. 7, 1990). The interim final 
rule provided for a comment period. The Finance Board received just one 
comment letter from a savings bank, which objected to giving the 
FHLBanks access to nonpublic financial information about their members 
on the ground that such access gives the FHLBanks an unfair advantage 
over private enterprise competitors. However, Congress has specifically 
provided for the FHLBanks to have access to this information, see 12 
U.S.C. 1442, and the final rule simply sets forth procedures for access 
and maintaining confidentiality. Further, the Finance Board believes 
that access to this information is necessary because it allows the 
FHLBanks to make credit and other decisions in a more safe and sound 
manner. Accordingly, the Finance Board is adopting the interim final 
rule as a final rule, without change.
    Because this rule initially was published as an interim final rule 
and not as a proposed rule, the provisions of the Regulatory 
Flexibility Act (5 U.S.C. 601, et seq.) do not apply. See id. 
Sec. 603(a).

List of Subjects in 12 CFR Part 934

    Federal home loan banks, Privacy, Securities, Surety bonds.

PART 934--OPERATIONS OF THE BANKS

    Accordingly, the interim rule adding 12 CFR 934.15 which was 
published at 55 FR 50545 on December 7, 1990, is adopted as a final 
rule without change.

    Dated: August 9, 1995.

    By the Federal Housing Finance Board.
Bruce A. Morrison,
Chairman.
[FR Doc. 95-20218 Filed 8-16-95; 8:45 am]
BILLING CODE 6725-01-P