[Federal Register Volume 66, Number 77 (Friday, April 20, 2001)]
[Proposed Rules]
[Page 20217]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 01-9788]


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DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

Office of Federal Housing Enterprise Oversight

12 CFR Part 1710

RIN 2550-AA20


Corporate Governance

AGENCY: Office of Federal Housing Enterprise Oversight, HUD.

ACTION: Proposed rule; withdrawal.

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SUMMARY: The Office of Federal Housing Enterprise Oversight (OFHEO) is 
withdrawing its notice of proposed rulemaking on Corporate Governance 
that was published in the Federal Register on April 10, 2001. The 
proposal is withdrawn at this time due to the possible confusion it 
could create as to the standards applicable to anticipated appointees 
to the Boards of Directors of the Enterprises.

DATES: The proposed rule published on April 10, 2001 (66 FR 18709) is 
withdrawn as of April 20, 2001.

FOR FURTHER INFORMATION CONTACT: Alfred M. Pollard, General Counsel, 
telephone (202) 414-3788 (not a toll-free number); Office of Federal 
Housing Enterprise Oversight, Fourth Floor, 1700 G Street, NW., 
Washington, DC 20552. The telephone number for the Telecommunications 
Device for the Deaf is (800) 877-8339.

SUPPLEMENTARY INFORMATION: On April 10, 2001, the Office of Federal 
Housing Enterprise Oversight proposed a regulation to set forth minimum 
requirements with respect to corporate governance policies and 
procedures of the Federal National Mortgage Association and Federal 
Home Loan Mortgage Corporation (collectively the Enterprises). The 
proposed rule would, among other things, delineate the legal role and 
responsibilities of the members of the board of directors of the 
respective Enterprises. In light of the anticipated appointment by the 
President of the United States of new members to the boards of each 
Enterprise, the proposed rule is withdrawn at this time as likely to 
result in untimely confusion for the appointees as to the standards 
applicable to their positions. OFHEO anticipates reissuing the 
proposal. OFHEO requests that preparation and filing of any comments on 
the withdrawn proposal be withheld pending such reissuance.

Withdrawal of Notice of Proposed Rulemaking

    Accordingly, for reasons stated in the preamble, the notice of 
proposed rulemaking that was published in the Federal Register on April 
10, 2001 (66 FR 18709) is withdrawn.

    Dated: April 16, 2001.
Armando Falcon, Jr.,
Director, Office of Federal Housing Enterprise Oversight.
[FR Doc. 01-9788 Filed 4-19-01; 8:45 am]
BILLING CODE 4220-01-P