[Federal Register Volume 64, Number 108 (Monday, June 7, 1999)]
[Notices]
[Page 30328]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 99-14241]



[[Page 30328]]

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FEDERAL HOUSING FINANCE BOARD

[No. 99N-5]
RIN 3069-AA84


Federal Home Loan Bank Financial Management and Mission 
Achievement Requirements--Staff Framework Document

AGENCY: Federal Housing Finance Board.

ACTION: Notice of availability.

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SUMMARY: Staff of the Federal Housing Finance Board (Finance Board) 
currently is in the process of developing proposals regarding the 
establishment of new financial management and mission achievement 
requirements for the Federal Home Loan Banks (FHLBanks). These 
proposals will address, among other things: The responsibilities of 
FHLBank boards of directors and senior management for risk management, 
mission achievement and internal controls; FHLBank authorized 
investments and use of hedging instruments; risk management and capital 
standards for the FHLBanks; and mission achievement requirements for 
the FHLBanks. A broad outline of the current status of these staff 
proposals is set forth in a Staff Framework Document, which the Finance 
Board is making available through its internet website (http://
www.fhfb.gov) in the ``What's New'' section.
    The Staff Framework Document is being provided to the public for 
informational purposes and does not itself constitute a rulemaking or 
other official agency action. During the third quarter of 1999, staff 
intends to present a proposed rule on these issues to the Board of 
Directors of the Finance Board to be approved for publication for 
public comment. The anticipated proposed rule, if and when it is 
ultimately approved for publication by the Board of Directors of the 
Finance Board, may reflect an approach to these issues that is 
different from that set forth in the Staff Framework Document.

FOR FURTHER INFORMATION CONTACT: James L. Bothwell, Director and Chief 
Economist, (202) 408-2821, Scott L. Smith, Deputy Director, (202) 408-
2991, Ellen E. Hancock, Associate Director, (202) 408-2906, or Julie 
Paller, Senior Financial Analyst, (202) 408-2842, Office of Policy, 
Research and Analysis, Federal Housing Finance Board, 1777 F Street, 
N.W., Washington, D.C. 20006.

    Dated: May 28, 1999.

    By the Board of Directors of the Federal Housing Finance Board.
Bruce A. Morrison,
Chairman.
[FR Doc. 99-14241 Filed 6-4-99; 8:45 am]
BILLING CODE 6725-01-P