[Federal Register Volume 86, Number 38 (Monday, March 1, 2021)]
[Notices]
[Pages 12001-12002]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-04119]


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

FEDERAL HOUSING FINANCE AGENCY

[No. 2021-N-2]


Federal Home Loan Bank Community Support Program--Opportunity To 
Comment on Members Subject To Review

AGENCY: Federal Housing Finance Agency.

ACTION: Notice.

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

[[Page 12002]]

SUMMARY: The Federal Housing Finance Agency (FHFA) is announcing that 
FHFA will review all applicable Federal Home Loan Bank (Bank) members 
in 2021 under FHFA's community support requirements regulation. This 
Notice invites the public to comment on the community support 
performance of individual members.

DATES: Public comments on individual Bank members' community support 
performance must be submitted to FHFA on or before March 31, 2021.

ADDRESSES: Comments on members' community support performance should be 
submitted to FHFA by electronic mail at 
[email protected] or by fax to 202-649-4308.

FOR FURTHER INFORMATION CONTACT: Deattra Perkins, Senior Policy 
Analyst, at [email protected], Division of Housing 
Mission and Goals, Federal Housing Finance Agency, Ninth Floor, 400 
Seventh Street SW, Washington, DC 20219.

SUPPLEMENTARY INFORMATION:

I. Community Support Review

    Section 10(g)(1) of the Federal Home Loan Bank Act (Bank Act) 
requires FHFA to promulgate regulations establishing standards of 
community investment or service that Bank members must meet in order to 
maintain access to long-term Bank advances. See 12 U.S.C. 1430(g)(1). 
The regulations promulgated by FHFA must take into account factors such 
as the Bank member's performance under the Community Reinvestment Act 
of 1977 (CRA), 12 U.S.C. 2901 et seq., and the Bank member's record of 
lending to first-time homebuyers. See 12 U.S.C. 1430(g)(2). Pursuant to 
section 10(g) of the Bank Act, FHFA has promulgated a community support 
requirements regulation that establishes standards a Bank member must 
meet in order to maintain access to long-term advances, and establishes 
review criteria FHFA must apply in evaluating a member's community 
support performance. See 12 CFR part 1290. The regulation includes 
standards and criteria for the two statutory factors--members' CRA 
performance and members' record of lending to first-time homebuyers. 12 
CFR 1290.3. Only members subject to the CRA must meet the CRA standard. 
12 CFR 1290.3(b). All members subject to community support review, 
including those not subject to the CRA, must meet the first-time 
homebuyer standard. 12 CFR 1290.3(c). Members that have been certified 
as community development financial institutions (CDFIs) are deemed to 
be in compliance with the community support requirements and are not 
subject to periodic community support review, unless the CDFI member is 
also an insured depository institution or a CDFI credit union. 12 CFR 
1290.2(d). In addition, FHFA will not review an institution's community 
support performance until it has been a Bank member for at least one 
year. 12 CFR 1290.2(e).
    Under the regulation, FHFA reviews each applicable member once 
every two years. Starting April 1, 2021, each member that is subject to 
community support review will be required to submit a completed 
Community Support Statement to FHFA. All Community Support Statements 
for this review cycle must be submitted by October 29, 2021. FHFA will 
review the community support performance of each member after receiving 
the member's completed Community Support Statement.

II. Public Comments

    FHFA encourages the public to submit comments by March 31, 2021, on 
the community support performance of Bank members. Each Bank is 
required to post a notice on its public website and to notify its 
Advisory Council, nonprofit housing developers, community groups, and 
other interested parties in its district of the opportunity to submit 
comments on the community support programs and activities of Bank 
members, with the name and address of each member subject to community 
support review. 12 CFR 1290.2(c)(1). In reviewing a member for 
community support compliance, FHFA will consider any public comments it 
has received concerning the member. 12 CFR 1290.2(c)(3). To ensure 
consideration by FHFA, comments concerning the community support 
performance of members being reviewed in 2021 must be submitted to 
FHFA, either by electronic mail to [email protected], 
or by fax to 202-649-4308, on or before March 31, 2021. 12 CFR 
1290.2(c)(2).
    The names of applicable members currently subject to Community 
Support review can be found on the public websites for the individual 
Banks at:

Federal Home Loan Bank of Boston--District 1 (Connecticut, 
Massachusetts, New Hampshire, Rhode Island, Vermont) https://www.fhlbboston.com/fhlbank-boston/hci-community-support#/
Federal Home Loan Bank of New York--District 2 (New Jersey, New York, 
Puerto Rico) https://www.fhlbny.com/
Federal Home Loan Bank of Pittsburgh--District 3 (Delaware, 
Pennsylvania, West Virginia) https://www.fhlb-pgh.com/Files/Resources/CSS.pdf
Federal Home Loan Bank of Atlanta--District 4 (Alabama, District of 
Columbia, Florida, Georgia, Maryland, North Carolina, South Carolina, 
Virginia) https://corp.fhlbatl.com/community-support-program/
Federal Home Loan Bank of Cincinnati--District 5 (Kentucky, Ohio, 
Tennessee) https://www.fhlbcin.com
Federal Home Loan Bank of Indianapolis--District 6 (Indiana, Michigan) 
https://www.fhlbi.com/products-services/community-investment-and-housing
Federal Home Loan Bank of Chicago--District 7 (Illinois, Wisconsin) 
https://fhlbc.com/community-investment/community-support-program
Federal Home Loan Bank of Des Moines--District 8 (Alaska, Guam, Hawaii, 
Idaho, Iowa, Minnesota, Missouri, Montana, North Dakota, Oregon, South 
Dakota, Utah, Washington, Wyoming) https://www.fhlbdm.com/news/business-news/2021-community-support-statement/
Federal Home Loan Bank of Dallas--District 9 (Arkansas, Louisiana, 
Mississippi, New Mexico, Texas) https://www.fhlb.com/membership/community-support-program
Federal Home Loan Bank of Topeka--District 10 (Colorado, Kansas, 
Nebraska, Oklahoma) https://www.fhlbtopeka.com/community-programs-community-support-statements
Federal Home Loan Bank of San Francisco--District 11 (Arizona, 
California, Nevada) www.fhlbsf.com/community-programs/community-support-review

Mark A. Calabria,
Director, Federal Housing Finance Agency.
[FR Doc. 2021-04119 Filed 2-26-21; 8:45 am]
BILLING CODE 8070-01-P