[Federal Register Volume 62, Number 193 (Monday, October 6, 1997)]
[Rules and Regulations]
[Pages 52011-52016]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-26290]
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FEDERAL HOUSING FINANCE BOARD
12 CFR Part 935
[No. 97-62]
RIN 3069-AA60
Restrictions on Advances to Non-Qualified Thrift Lenders
AGENCY: Federal Housing Finance Board.
ACTION: Final rule.
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SUMMARY: The Federal Housing Finance Board (Finance Board) is amending
its regulations on advances to members that are not qualified thrift
lenders. The amendments revise an interim rule and implement the
Economic Growth and Regulatory Paperwork Reduction Act of 1996
(EGRPRA), which broadened the types of assets that may be used to
satisfy the qualified thrift lender (QTL) requirement. The final rule
includes a safe harbor for ``loans to small businesses'' (i.e.,
commercial loans of $1,000,000 or less or farm loans of $500,000 or
less) and allows persons other than the chief executive officer (CEO)
to certify the accuracy of certain QTL information. The final rule also
changes the dates by which the Federal Home Loan Banks (Banks) must
determine the QTL status of their members, which conforms the annual
QTL determination to the date on which commercial loan data become
available.
EFFECTIVE DATE: The final rule will become effective October 3, 1997,
except for the amendments to 12 CFR
[[Page 52012]]
935.13(a)(3)(i), which take effect on December 30, 1997.
FOR FURTHER INFORMATION CONTACT: Gregory V. Goggans, Senior Financial
Analyst, Financial Analysis and Reporting Division, Office of Policy,
202/408-2878, or Neil R. Crowley, Associate General Counsel, Office of
General Counsel, 202/408-2990, Federal Housing Finance Board, 1777 F
Street, N.W., Washington, D.C. 20006.
SUPPLEMENTARY INFORMATION:
I. Background
On February 27, 1997, the Finance Board published, and requested
public comments on, an interim rule that amended the regulations
relating to the QTL status of non-savings association members. 62 FR
8868 (Feb. 27, 1997). The interim rule required the Banks to use
financial information from the call reports of such members when
determining their QTL status, but also allowed the use of other
information if certified by the member's CEO. The interim rule
reflected changes made to the QTL test by EGRPRA, as well as by an
interim rule adopted by the Office of Thrift Supervision (OTS), which
administers the QTL statute. The Finance Board indicated that it would
monitor the OTS rulemaking proceeding and expected to incorporate any
material changes made by OTS into the advances regulation. OTS later
adopted a final rule that broadened the definition of the term ``loans
to small businesses'' as used in the QTL provisions. 62 FR 15819 (April
3, 1997). The Finance Board is now incorporating the substance of the
OTS definition of ``loans to small businesses'' and is shifting forward
by six months the period within which the Banks must determine the QTL
status of their non-savings association members. The final rule also
allows the CEO to delegate to the chief financial officer, chief
operating officer, or controller of such members the authority to
certify the accuracy of any QTL financial data that do not appear in
the member's call report.
In 1987, Congress established the QTL test, which required savings
associations to maintain 60 percent of their assets in instruments
related to domestic residential real estate or manufactured housing.
Competitive Equality Banking Act of 1987, Pub. L. 100-86, sec. 104(c),
101 Stat. 571-573 (August 10, 1987). The QTL test now requires savings
associations to maintain 65 percent or more of their assets in what are
characterized as ``qualified thrift investments.'' 12 U.S.C. 1467a(m).
The QTL test does not apply directly to commercial banks or credit
unions, but, in 1989, when Congress authorized commercial banks and
credit unions to become members of the Federal Home Loan Bank System
(System), it also limited their access to advances if they do not
comply with the QTL test. Financial Institutions Reform, Recovery, and
Enforcement Act of 1989 (FIRREA), Pub. L. 101-73, sec. 704(a), 103
Stat. 415 (August 9, 1989), codified at 12 U.S.C. 1424(a).
Specifically, FIRREA required such members that do not meet the QTL
test to purchase greater amounts of Bank stock to support their
advances, and mandated that they could obtain advances only for housing
finance purposes. FIRREA also gave QTL members a priority over non-QTL
members on access to advances, and imposed a 30 percent System-wide
limit on the aggregate amount of advances that could be outstanding to
non-QTL members. 12 U.S.C. 1430(e).
The Banks are required to determine the QTL status of each non-
savings association member at least annually, between January 1 and
April 15, based on financial information as of December 31 of the prior
calendar year. To do so, they must calculate the ``actual thrift
investment percentage'' (ATIP) for each such member, which is obtained
by dividing the institution's ``qualified thrift investments'' by its
``portfolio assets.'' 12 CFR 935.13(a)(3). In EGRPRA, Pub. L. 104-208,
110 Stat. 3009 (Sept. 30, 1996), Congress amended the QTL test by
broadening the universe of assets that are considered to be ``qualified
thrift investments.'' Pursuant to those amendments, loans for
educational purposes, loans to small businesses, and loans made through
credit cards or credit card accounts, as well as an increased amount of
consumer loans, now may be included when determining the amount of an
institution's ``qualified thrift investments.'' Congress directed OTS
to define the term ``small business'' for purposes of the amended QTL
test, which OTS has done. 61 FR 60179 (Nov. 27, 1996) (interim rule);
62 FR 15819 (Apr. 3, 1997) (final rule), codified at 12 CFR 560.3.
As part of its interim rule, OTS defined ``small business loans''
narrowly, limiting the term to any loan made to a small business
concern or entity as defined by the Small Business Act, 15 U.S.C.
632(a), and the implementing regulations of the Small Business
Administration (SBA). The practical effect of relying solely on the SBA
regulations was to exclude from the QTL calculation any business loans
for which the lender did not possess the documentation required to
demonstrate that the loan in fact would satisfy the rather detailed
requirements of the SBA regulations. Because of the complexity of those
SBA provisions, and in response to public comments, the OTS final rule
revised the definition to add a ``safe harbor'' provision for ``small
business loans'' and ``loans to small businesses.'' Under the ``safe
harbor'' provision of the OTS final rule, a commercial loan also is
deemed to be a loan to small business for QTL purposes if the loan
meets the criteria for ``loans to small businesses and small farms''
set out in the instructions for the OTS Thrift Financial Report. 62 FR
15819, 15825 (Apr. 3, 1997), codified at 12 CFR 560.3. Under those
criteria, a ``loan to small business'' includes any business loan (or
any series of loans to the same borrower) in the original amount of
$1,000,000 or less, or any farm loan (or series of loans to the same
borrower) in the original amount of $500,000 or less.
The Finance Board issued its interim rule based on the provisions
of EGRPRA, as implemented by the OTS interim rule. Thus, the Finance
Board's interim rule directed the Banks to use the financial
information from their members' December 31 call reports as the primary
source for QTL determinations. 12 CFR 935.13(a)(3). The interim rule
recognized that certain items, such as business loans that meet the SBA
definition, are not separately identified on the call report.
Accordingly, the interim rule also included a certification procedure
under which a member could include in its QTL calculation items that do
not appear on the call report, provided the accuracy of the information
was certified by the CEO of the member. The Finance Board acknowledged
the practical difficulties associated with using the SBA definition of
small business loan and solicited comments on all aspects of the
interim rule.
II. Comments
The Finance Board received twelve comments on the interim rule. All
of the commenters who addressed the issue of certification endorsed the
concept as a practical method of providing information necessary for
the QTL calculation that does not appear in the call report. Most of
those also suggested that officers other than the CEO be allowed to
execute the certification. One commenter suggested that the involvement
of the CEO was necessary to ensure the accuracy of the information and
should not be delegated to any other officer. Of those addressing the
issue of loans to small businesses, all commenters favored the use of a
proxy (such as the call report data on
[[Page 52013]]
commercial loans to small businesses) in addition to, or in lieu of,
the SBA definition of small business loans.
III. Description of the Final Rule
One commenter questioned whether the interim rule was intended to
allow the Banks to rely on certifications from their members as an
alternative, rather than as a supplement, to the information obtained
from the call report. The intention of the Finance Board is that the
members' call reports, as that term is defined, are to be the principal
source of the financial information used to calculate the QTL status of
the members. The Finance Board recognizes that certain items that are
included as ``qualified thrift investments'' or ``portfolio assets''
under the QTL test are not separately identified on the call report. It
is with respect to those items that the Banks may accept a
certification from the member.
The Finance Board also recognizes that some Banks may, as a matter
of practice, first obtain uncertified information from their members
regarding their QTL assets and subsequently confirm the accuracy of
that information against the members' call report. The final rule would
not affect that practice, provided that the Bank uses the available
call report data when making the final QTL calculation. Any information
that is not derived from the call report may be used in the QTL
calculation only if a member provides the appropriate certification.
The intent in creating the certification provision is to provide a
means by which non-savings association members may include within the
QTL calculation any eligible assets that are not available from the
call report, at the option of the member; such certifications are not
mandated.
The Finance Board believes that the commenters' contention that the
CEO need not be the only officer authorized to certify the accuracy of
a member's non-call report financial data presents a legitimate issue.
Accordingly, the final rule allows the CEO to delegate his or her
authority to sign the certification to the chief financial officer,
chief operating officer, or controller of a non-savings association
member. As noted in the interim rule, in requiring a certification the
Finance Board has attempted to strike a balance between its need to
ensure that the Banks base their QTL calculations on accurate financial
information and the desire of the Banks to manage their affairs with
their members.
The Finance Board does not believe that it would be prudent to
allow more junior officers to execute the QTL certifications because
the Banks, and the Finance Board, have no independent means of
verifying that information. The Finance Board does not examine the
members of the Banks; such examinations are conducted by the principal
federal or state regulators. With respect to the non-savings
association members, the principal regulators do not examine their
subjects for compliance with the QTL test. Without an independent
examination of QTL status, the Finance Board needs some other means of
ensuring that the information used by the Banks is accurate. By
requiring the formality of a written certification from a senior
officer, the Finance Board believes that the Banks will have sufficient
assurance that the matter has received careful consideration by the
member. Allowing the CEO to delegate signature authority to additional
senior officers should address the commenters' concerns that CEO not be
burdened with this task, while maintaining accountability at the CEO
level. As a point of clarification, the certification provision does
not require, as some commenters apparently believe, that the senior
officers must personally determine the amount and composition of QTL
assets that do not appear separately on the call report. The
certification provisions require only that the CEO or, if the CEO
delegates that authority, one of the senior officers specified by the
rule, sign and date the certification. As with other corporate matters,
it is assumed that senior management will assign to the appropriate
employees the task of compiling the information.
As was noted in the interim rule, the use of the SBA definition of
small business loans for QTL purposes was problematic because it would
exclude from the QTL calculation of ``qualified thrift investments''
any small business loans that did not meet the detailed requirements
for SBA loans. Under the SBA regulations, a ``small business'' is an
entity the gross receipts of which (or the number of its employees)
fall below certain thresholds specified by SBA, which may vary
depending on the type of business in which the entity is engaged.
Unless a member had made a loan in connection with a SBA program, it
would be unlikely to have obtained such information for its loan files.
OTS addressed this issue in its final rule by including a ``safe
harbor'' provision, which defines ``small business loans'' and ``loans
to small businesses'' to include any other business loan in the
original amount of $1,000,000 or less and any farm loan in the original
amount of $500,000 or less.
The Finance Board endorses the concept of a safe harbor for loans
to small businesses and small farms and is adopting the same approach
for its advances regulation. The Finance Board, however, is defining
the term ``loans to small businesses'' expressly, rather than by
incorporating by reference the OTS regulations. The OTS regulation
defines ``loans to small business'' by reference to the term ``loans to
small businesses and small farms,'' which, in turn, is located within
the definitions portion of the instructions for the OTS ``Thrift
Financial Report.'' Because the non-savings association members of the
Banks do not submit the Thrift Financial Report, and may not be
familiar with its instructions, the Finance Board believes that a bare
cross-reference to the OTS regulation or to the Thrift Financial Report
instructions would not provide the specificity that the Banks and their
non-savings association members require. Accordingly, the final rule
provides that for QTL purposes the term ``loans to small businesses''
shall include any business or commercial loans (including a series of
loans to the same borrower) in an original amount of $1,000,000 or
less, and any farm loans (including a series of loans to the same
borrower) of $500,000 or less, as well as any loan to an entity that
satisfies the SBA definition of a ``small business.''
One reason why OTS adopted, and why the commenters suggested that
the Finance Board adopt, the $1,000,000 and $500,000 thresholds for
loans to small businesses and small farms is that the information is
readily available from existing sources. The federal banking agencies
require the depository institutions that they supervise to submit
periodic information about the composition of their loan portfolios as
part of their quarterly call reports. The call report that is to be
filed as of June 30 includes a schedule for loans to small businesses
and small farms, on which the institutions must report the number and
amount currently outstanding as of June 30 of business loans with
original amounts of $1,000,000 or less and farm loans of $500,000 or
less. Using that information to determine the amount of the ``loans to
small businesses'' for purposes of the QTL calculation, as OTS has
done, also is consistent with the provisions of the Finance Board's
interim rule that require the Banks to use the call report as the
principal source of financial information for the QTL test. Moreover,
the use of existing call report data would not entail any additional
[[Page 52014]]
recordkeeping by the Banks or their non-savings association members.
The one complicating factor associated with using the commercial
loan schedule to the call reports as the source for information on
loans to small businesses is that the depository institutions submit
the detailed data on their commercial loan portfolios only with their
June 30 call report. That arrangement conflicts with the existing time
period within which the Banks conduct their annual QTL determinations,
which must be done between January 1 and April 15 and must be based on
information as of December 31 of the prior calendar year. Because the
category of loans to small businesses is apt to be a significant
portion of the ``qualified thrift investments'' of the non-savings
association members, most of which are commercial banks, the Finance
Board believes that it would be a better practice for the annual QTL
determination to be performed soon after that information on loans to
small businesses becomes available. Accordingly, the final rule shifts
the QTL calculation period forward by six months. The Finance Board
informally solicited the views of the Banks on the use of the June 30
call reports, and all but two of the Banks favored using that source.
Because the Banks may obtain the call report data from commercial
providers, some of which may not become available in final form until
early October, the Finance Board has extended the end of the period to
October 31, which should give all Banks ample time to conduct their QTL
calculations.
The Finance Board considered retaining the current January-to-April
QTL period and allowing the Banks to use the December 31 data for all
items but for loans to small businesses, for which the source would be
the prior June 30 call report. Using financial data derived from
reports that are six months apart, however, could lead to inaccurate
QTL calculations and would prevent the Finance Board, and the Banks,
from having an accurate QTL determination as of a particular date. The
Finance Board believes that it is important for all of the Banks to
conduct their required annual QTL determinations as of the same date so
that there be some uniformity within the System and the Finance Board
will have accurate System-wide QTL data should the 30 percent cap on
the aggregate amount of advances to non-QTL members become an issue.
The use of the June 30 call report data should enable a
substantially greater number of non-savings association members to
increase their ATIP and come into compliance with the QTL requirement.
Because the final rule would ease compliance with the QTL test, the
Finance Board has decided to make the portion of the rule allowing the
use of the June 30 call report data effective on publication in the
Federal Register. In that way the Banks will be able immediately to
recalculate the QTL status of its non-savings association members based
on the June 30, 1997 commercial loan data. Under the existing Finance
Board regulations regarding the annual QTL determination, which would
remain in effect until year-end, the Banks may calculate the QTL status
of any non-savings association member at any time other than the
mandatory January-to-April annual calculation period, provided that
when doing so they use the data from the most recent call report. 12
CFR 935.13(a)(3)(i).
Because the Banks have completed the required 1997 annual QTL
determinations earlier this year, the Finance Board has decided not to
impose the mandatory July-to-October annual QTL calculation on the
Banks for 1997. Accordingly, that provision of the final rule will not
take effect until December 30, 1997, which means that the annual
mandatory QTL calculation for 1998 will occur between July and October
1998, and will be based on call report data as of June 30, 1998. The
combination of the different effective dates is intended to allow the
Banks the flexibility to determine when to apply the revised QTL
provisions to their members. Thus, the Banks may take advantage of the
new safe harbor provision for loans to small business immediately,
should they choose to do so, but the final rule does not mandate that
they do so again for this year. If a Bank has determined earlier this
year that a non-savings association member met the QTL test, it need
not recalculate that member's QTL status until the 1998 annual
calculation.
As noted above, the Banks have the option of recalculating the QTL
status of their non-savings association at any time, should they choose
to do so. That provision is in the current rule and is retained in this
final rule, with one revision. When making QTL calculations at any time
other than the required annual calculation, the Banks still must use
the most recent call report available for the member, except for
information that is not included in any call report and is certified by
a senior officer. For purposes of determining a member's outstanding
commercial loans of $1,000,000 or less or its farm loans of $500,000 or
less, the ``most recent call report'' will always be the prior June 30
call report. Thus, it is permissible for a Bank that is making a QTL
determination at some time other than during the annual QTL
determination, to use data from two separate call reports. That would
be the case whether the QTL determination is being done for an existing
member, such as in response to a change in the composition of the
member's assets, or for a new member, for which the QTL test is being
done for the first time. For example, if a commercial bank were to
become a member of the System in December, the Bank could use the
financial information from the September 30 call report for all items
except for commercial loans of $1 million or less and farm loans of
$500,000 or less. The information about those commercial and farm loans
would be obtained from the June 30 call report. Any additional
information that is required for the QTL test, but that is not on
either of the call reports, could be submitted by certification, but
only if the member were to choose to do so.
IV. Regulatory Flexibility Act
Because no notice of proposed rulemaking is required for this rule,
the provisions of the Regulatory Flexibility Act (RFA), 5 U.S.C. 601,
et seq., do not apply. The final rule implements statutory changes to
the QTL test and conforms the Finance Board regulations to EGRPRA.
Moreover, the final rule would not impose any additional regulatory
requirements on small entities of the type contemplated by the RFA, and
reduces the regulatory burdens on all non-savings association members.
V. Paperwork Reduction Act
As part of the interim final rulemaking, the Finance Board
published a request for comments concerning the collection of
information contained in Sec. 935.13 of the interim final rule. See 62
FR 8870 (Feb. 27, 1997). The Finance Board did not receive any
comments. The Finance Board submitted an analysis of the information
collection to the Office of Management and Budget (OMB) for review in
accordance with section 2507 of the Paperwork Reduction Act of 1995.
See 44 U.S.C. 3507. OMB assigned a control number, 3069-0057, and
approved the information collection without conditions with an
expiration date of April 30, 2000. Potential respondents are not
required to respond to the collection of information unless the
regulation collecting the information displays a currently valid
control number assigned by OMB. See id.
[[Page 52015]]
3512(a). Although the final rule does not substantively or materially
modify the approved information collection, it reduces the reporting
and recordkeeping burden imposed on many respondents by permitting use
of ``loans to small businesses,'' as reported on June 30 call reports,
as a proxy for small business loans as defined by the SBA. The title,
description of need and use, and a description of the information
collection requirements in the final rule are discussed in parts I
through III of the Supplementary Information.
The following table discloses the estimated annual reporting and
recordkeeping burden approved by OMB:
The estimated annual reporting and recordkeeping hour burden is:
a. Number of respondents--4272
b. Total annual responses--4272
Percentage of these responses collected electronically--0%
c. Total annual hours requested--3930
d. Current OMB inventory--0
e. Difference--3930
The estimated annual reporting and recordkeeping cost burden is:
a. Total annualized capital/startup costs--0
b. Total annual costs (O&M)--0
c. Total annualized cost requested--$126,660
d. Current OMB inventory--0
e. Difference--$126,660
Any comments concerning the information collection should be submitted
to Elaine L. Baker, Executive Secretary, Federal Housing Finance Board,
1777 F Street, N.W., Washington, D.C. 20006, and the Office of
Information and Regulatory Affairs of the Office of Management and
Budget, Attention: Desk Officer for Federal Housing Finance Board,
Washington, D.C. 20503.
VI. Other Procedural Requirements
The Finance Board has determined that the notice and comment
procedure ordinarily required by the Administrative Procedure Act (APA)
is not required in this instance. The APA authorizes agencies to waive
the notice and comment procedures when the agency ``for good cause
finds * * * that notice and public procedure thereon are impracticable,
unnecessary, or contrary to the public interest.'' 5 U.S.C.
553(b)(3)(B). The Finance Board made such a determination with respect
to the interim rule, finding that a delay would deny the Banks the
opportunity to incorporate the newly expanded QTL provisions into the
required annual QTL determinations of their members. The final rule
does not differ substantially from the interim rule, except by
conforming the definition of loans to small businesses to the OTS rule
and by otherwise incorporating revisions suggested by the public
commenters.
The Finance Board also has determined that the 30-day delay of the
effectiveness provisions of the APA may be waived in these
circumstances. Section 553(d) of the APA permits waiver of the 30-day
delayed effective date requirement, among other things, where a
substantive rule relieves a restriction, or otherwise for good cause
found by the agency. The Finance Board finds that there is good cause
for making the final rule, with the exception of the amendments to 12
CFR 935.13(a)(3)(i), effective on October 3, 1997 because it will allow
the Banks to take advantage of the June 30 call report data as soon as
it becomes available, thereby relieving a regulatory burden on members
that will come into compliance with the QTL test as a result of these
amendments. The amendments to 12 CFR 935.13(a)(3)(i) will take effect
on December 30, 1997.
List of Subjects in 12 CFR Part 935
Credit, Federal home loan banks.
Accordingly, the Federal Housing Finance Board hereby amends title
12, chapter IX, part 935 of the Code of Federal Regulations, to read as
follows:
PART 935--ADVANCES
1. The authority citation for part 935 continues to read as
follows:
Authority: 12 U.S.C. 1422b(a)(1), 1426, 1429, 1430, 1430b, and
1431.
2. Section 935.13 is amended by revising paragraph (a)(3) and by
adding an OMB parenthetical sentence following the section to read as
follows:
Sec. 935.13 Restrictions on advances to members that are not qualified
thrift lenders.
(a) Restrictions on advances to non-QTL members. * * *
* * * * *
(3)(i) A Bank shall calculate each non-savings association member's
ATIP at least annually, between July 1 and October 31, based upon
financial data as of June 30 of that calendar year. The Bank may, in
its discretion, calculate a member's ATIP more frequently than
annually.
(ii) In determining a non-savings association member's annual ATIP,
a Bank shall use the financial information from the member's June 30
call report as the primary source of information. A Bank making ATIP
determinations other than as part of the annual QTL determination
(whether for existing members or new members) shall use the member's
most recent call report, except that in determining the amount of a
member's loans to small businesses a Bank may use the information for
such loans on the member's most recent June 30 call report. If any
information necessary for determining the member's ATIP is not
separately identified on a member's call report, the Bank may rely on a
written certification provided by the member that attests to the dollar
amount and composition of those other assets that meet the definitions
of ``qualified thrift investments'' or ``portfolio assets'' as of the
date of the call report. Notwithstanding the preceding two sentences, a
Bank may, at its option, accept from a non-savings association member
preliminary information as to the dollar amount and composition of
assets that meet the definitions of ``qualified thrift investments'' or
``portfolio assets,'' provided that the Bank thereafter verifies
against the most recent call report the accuracy of any items that also
are available from the call report. In any case in which a Bank relies
on a certification from a non-savings association member as to its
level of ``qualified thrift investments'' or ``portfolio assets,'' the
certification must recite that the information is accurate as of the
date specified, must be in writing and be signed and dated by the chief
executive officer of the member. The chief executive officer may
delegate authority to sign and date the certification to the chief
financial officer, chief operating officer, or controller of the
member.
(iii) For purposes of this section, the term ``call report'' shall
include:
(A) With respect to a commercial bank, the annual or quarterly
``Report of Condition and Income'' submitted to its appropriate Federal
banking agency;
(B) With respect to a credit union, the quarterly or semi-annual
call report submitted to the National Credit Union Administration; and
(C) With respect to an insurance company, its National Association
of Insurance Commissioners annual regulatory filing.
(iv) For purposes of this section, the amount of a member's ``loans
to small businesses'' shall include any commercial or business loan (or
series of loans to the same borrower) in the original amount of $1
million or less, any farm loan (or series of loans to the same
borrower) in the original amount of $500,000 or less, and any loan to a
``small business'' as that term is defined by section 3(a) of the Small
Business Act, 15 U.S.C. 632(a), and implemented by the Small Business
Administration at
[[Page 52016]]
13 CFR part 121, or any successor provisions.
* * * * *
(The Office of Management and Budget approved the information
collection requirements contained in this section and assigned
control number 3069-0057 with an expiration date of April 30, 2000)
Dated: September 10, 1997.
By the Board of Directors of the Federal Housing Finance Board
Bruce A. Morrison,
Chairperson.
[FR Doc. 97-26290 Filed 10-3-97; 8:45 am]
BILLING CODE 6725-01-U