[Federal Register Volume 65, Number 127 (Friday, June 30, 2000)]
[Rules and Regulations]
[Pages 40491-40492]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 00-16543]


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FEDERAL HOUSING FINANCE BOARD

12 CFR Part 997

[No. 2000-15]
RIN 3069-AA92


Determination of Appropriate Present-Value Factors Associated 
With Payments Made by the Federal Home Loan Banks to the Resolution 
Funding Corporation; Correction

AGENCY: Federal Housing Finance Board.

ACTION: Final rule; correction.

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SUMMARY: The Federal Housing Finance Board (Finance Board) published in 
the Federal Register of April 3, 2000, a final rule implementing 
provisions of the Gramm-Leach-Bliley Act (Gramm-Leach-Bliley) that 
changed the methodology for determining the amount of the payments to 
be made by the Federal Home Loan Banks (Banks) to the Resolution 
Funding Corporation (REFCORP). The final rule omitted a reference to 
the value of an annuity, as referenced in Gramm-Leach-Bliley, in one 
section of the rule. This document corrects that omission.

EFFECTIVE DATES: Effective on June 30, 2000.

FOR FURTHER INFORMATION CONTACT: Thomas E. Joseph, Attorney-Advisor, 
(202) 408-2512, [email protected], or by regular mail at the Federal 
Housing Finance Board, 1777 F Street, N.W., Washington, D.C. 20006. A 
telecommunication device for deaf persons (TDD) is available at (202) 
408-2579.

SUPPLEMENTARY INFORMATION:

Need for Correction

    In FR Doc. 00-8116, published in the Federal Register on April 3, 
2000 (65 FR 17435), the Finance Board added new

[[Page 40492]]

part 997 to its regulations to implement provisions of Gramm-Leach-
Bliley, Pub. L. No. 106-102, 113 Stat. 1338, 1455-56 (Nov. 12, 1999) 
related to adjustments in the end-date for the statutorily required 
annual payments made by the Banks to REFCORP. In Sec. 997.5 of this new 
part, the annual value of the annuity referenced in section 607 of 
Gramm-Leach-Bliley was inadvertently omitted. To avoid any confusion as 
to the meaning of the rule, this correction adds the relevant value to 
the final rule.

Correction of Publication

    For the reasons set forth above, the Finance Board hereby corrects 
FR Doc. 00-8116, published in the Federal Register on April 3, 2000 (65 
FR 17435) as follows.


Sec. 997.5  [Corrected]

    1. On page 17438, in the third column, add to Sec. 997.5, paragraph 
(a), line 8, the phrase ``of $300 million per year'' after the word 
``annuity.''

    Dated: June 22, 2000.

    By the Board of Directors of the Federal Housing Finance Board.
Bruce A. Morrison,
Chairman.
[FR Doc. 00-16543 Filed 6-29-00; 8:45 am]
BILLING CODE 6725-01-P