[Federal Register Volume 66, Number 16 (Wednesday, January 24, 2001)]
[Notices]
[Pages 7650-7651]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 01-2129]


=======================================================================
-----------------------------------------------------------------------

FEDERAL HOUSING FINANCE BOARD

[No. 2001-N-3]


Extension of Time to File Requests to Intervene and Expansion of 
Permissible Intervenors In Connection With Petition for Case-by-Case 
Determination--Membership Based on Convenience Under the Federal Home 
Loan Bank Act and the Federal Housing Finance Board's Regulations

AGENCY: Federal Housing Finance Board.

ACTION: Notice of Extension of Time to File Requests to Intervene and 
Expansion of Permissible Intervenors.

-----------------------------------------------------------------------

SUMMARY: The Federal Housing Finance Board (Finance Board) has waived 
the 45-day deadline for filing Requests to Intervene in the Finance 
Board's Procedures Regulation, and extended the deadline for an 
additional 30 days, i.e., to February 24, 2001, in connection with the 
Federal Home Loan Bank (Bank) of Dallas' Petition for Case-by-Case 
Determination (Petition). Because February 24 is a Saturday, Requests 
to Intervene due on February 24 may be filed on the next business day, 
i.e., February 26, 2001. The Finance Board also has waived the 
provisions of the Procedures Regulation that would limit the persons 
eligible to file a Request to Intervene, to allow any interested 
persons to file a Request to Intervene in connection with the Dallas 
Bank Petition.

ADDRESSES: Send Requests to Intervene to: Elaine L. Baker, Secretary to 
the Board, at the Federal Housing Finance Board, 1777 F Street, NW., 
Washington, DC 20006. Copies of non-confidential portions of the 
Petition and of non-confidential portions of Requests to Intervene will 
be available for inspection at this address.

FOR FURTHER INFORMATION CONTACT: James L. Bothwell, Managing Director 
and Chief Economist, (202) 408-2821; Scott L. Smith, Acting Director, 
Office of Policy, Research and Analysis, (202) 408-2991; Deborah F. 
Silberman, General Counsel, (202) 408-2570, Sharon B. Like, Senior 
Attorney-Advisor, (202) 408-2930, Office of General Counsel. Staff also 
can be reached by regular mail at the Federal Housing Finance Board, 
1777 F Street, NW., Washington, DC 20006.

SUPPLEMENTARY INFORMATION: The Dallas Bank filed the Petition, dated 
December 8, 2000, and received by the Finance Board on December 11, 
2000, requesting that the Finance Board approve the membership of 
Washington Mutual Bank, FA (WMBFA), currently a member of the San 
Francisco Bank, in the Dallas Bank upon completion of the merger of 
Bank United into WMBFA, under section 4(b) of the Federal Home Loan 
Bank Act (Bank Act) and Sec. 925.18(a)(2) of the Finance Board's 
regulations, thereby allowing WMBFA to be a member of both the San 
Francisco and Dallas Banks. See 12 U.S.C. 1424(b); 12 CFR 925.18(a)(2). 
On December 27, 2000, the Finance Board published a Notice of Receipt 
of the Petition (Notice) in the Federal Register. 65 FR 81861 (Dec. 27, 
2000). The Notice stated, among other things, that, pursuant to the 
Finance Board's Procedures Regulation, 12 CFR part 907, any member, 
Bank, or the Office of Finance may file a Request to Intervene in 
consideration of the Petition in accordance with 12 CFR 907.11 if it 
believes its rights may be affected by the issues raised by the 
Petition. The Notice stated that any Request to Intervene must be in 
writing and must be filed with the Secretary to the Finance Board 
within 45 days from the date the Petition was filed, i.e., by January 
25, 2001. See 12 CFR 907.11(a)(1).
    Potential intervenors have requested an extension of time of 45 
days within which to file Requests to Intervene, on the basis that 
additional time is needed to fully consider the ramifications of the 
fundamental legal, political and policy issues of first impression 
raised by the Petition that are critical to the structure and function 
of the Bank System. In addition, persons not otherwise listed as 
parties eligible to file a Request to Intervene under Sec. 907.8(b) of 
the Finance Board's Procedures Regulation have inquired whether they 
could be granted permission to file a Request to Intervene. See 12 CFR 
907.8(b).
    After consideration of the above requests and the importance of the 
issues raised by the Petition, pursuant to Sec. 907.15(a) of the 
Finance Board's Procedures Regulation, the Finance Board has waived the 
45-day deadline for filing Requests to Intervene in Sec. 907.11(a)(1), 
and extended the deadline for an additional 30 days, i.e., to February 
24, 2001; because February 24 is a Saturday, Requests to Intervene due 
on February 24 may be filed on the next business day, i.e., February 
26, 2001. See 12 CFR 907.11(a)(1), 907.15(a). The Finance Board also 
has waived the provisions of Sec. 907.8(b) that would limit the persons 
eligible to file a Request to Intervene, to allow any interested 
persons to file a Request to Intervene in connection with the Dallas 
Bank Petition. See 12 CFR 907.8(b).

    Dated: January 18, 2001.


[[Page 7651]]


    By the Federal Housing Finance Board.
James L. Bothwell,
Managing Director.
[FR Doc. 01-2129 Filed 1-23-01; 8:45 am]
BILLING CODE 6725-01-P