[Unified Agenda of Federal Regulatory and Deregulatory Actions]
[Office of Federal Housing Enterprise Oversight Semiannual Regulatory Agenda]
[From the U.S. Government Printing Office, www.gpo.gov]



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Part XXXIII



Office of Federal Housing Enterprise Oversight



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Semiannual Regulatory Agenda

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OFFICE OF FEDERAL HOUSING ENTERPRISE OVERSIGHT (OFHEO)                 


  



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OFFICE OF FEDERAL HOUSING ENTERPRISE OVERSIGHT

12 CFR Ch. XVII

Semiannual Agenda

AGENCY: Office of Federal Housing Enterprise Oversight.

ACTION: Semiannual regulatory agenda.

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SUMMARY: This notice is given pursuant to the requirements of the 
``Regulatory Flexibility Act'' (Pub. L. 96-354, September 19, 1980) and 
Executive Order 12866 (``Regulatory Planning and Review,'' September 
30, 1993), which require the publication of a semiannual agenda of 
regulations.

FOR FURTHER INFORMATION CONTACT: Gary L. Norton, Deputy General 
Counsel, Office of Federal Housing Enterprise Oversight, 1700 G Street 
NW., Washington, DC 20552, (202) 414-3800.

Dated: January 31, 1997.

Aida Alvarez,

Director, Office of Federal Housing Enterprise Oversight.
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OFFICE OF FEDERAL HOUSING ENTERPRISE OVERSIGHT (OFHEProposed Rule Stage


  



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3619. RULES OF PRACTICE AND PROCEDURE

Priority:  Substantive, Nonsignificant

Legal Authority:  12 USC 4631 to 4641

CFR Citation:  12 CFR ch XVII

Legal Deadline: None

Abstract: The Office of Federal Housing Enterprise Oversight (OFHEO) 
intends to issue a proposed regulation setting forth rules of practice 
and procedure related to OFHEO's statutory enforcement provisions found 
in subtitle C of title XIII of the Housing and Community Development 
Act of 1992, known as the Federal Housing Enterprises Financial Safety 
and Soundness Act of 1992, 12 USC 4501 et seq. The proposed regulation 
will describe procedures for answering notices of charges, filing and 
service of papers, the designation of a presiding officer, the conduct 
of formal hearings, access to agency process of parties afforded a 
hearing, and various time requirements. In addition, the proposed 
regulation will set rules and procedures for assessment and collection 
of civil money penalties. OFHEO intends to issue the proposed 
regulation in the summer of 1997.

Timetable:
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Action                            Date                      FR Cite

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NPRM                            09/00/97

Small Entities Affected: None

Government Levels Affected: None

Agency Contact: Anne E. Dewey, General Counsel, Office of Federal 
Housing Enterprise Oversight, 1700 G Street NW., Washington, DC 20552
Phone: 202 414-3800

RIN: 2550-AA04
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3620.  IMPLEMENTATION OF THE PRIVACY ACT OF 1974

Priority:  Substantive, Nonsignificant

Legal Authority:  5 USC 552a

CFR Citation:  12 CFR ch XVII

Legal Deadline: None

Abstract: The proposed regulation implements the Privacy Act of 1974 (5 
USC 552a). The Privacy Act is a records management statute designed to 
balance the Government's need to maintain information about individuals 
with the rights of individuals to be protected against unwarranted 
invasions of their privacy. The proposed regulation applies to all 
records that are contained in systems of records maintained by the 
Office of Federal Housing Enterprise Oversight. The proposed regulation 
informs individuals how to obtain and amend non-exempt records indexed 
under their names. The regulation also places restrictions on the 
release of covered information.

Timetable:
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Action                            Date                      FR Cite

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NPRM                            09/00/97

Small Entities Affected: None

Government Levels Affected: None

Agency Contact: Anne E. Dewey, General Counsel, Office of Federal 
Housing Enterprise Oversight, 1700 G Street NW., Washington, DC 20552
Phone: 202 414-3800

RIN: 2550-AA05
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OFFICE OF FEDERAL HOUSING ENTERPRISE OVERSIGHT (OFHEO) Final Rule Stage


  



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3621. RELEASING INFORMATION

Priority:  Substantive, Nonsignificant

Legal Authority:  5 USC 552; 12 USC 4513; 12 USC 4526; 12 USC 4639; EO 
12600

CFR Citation:  12 CFR 1710

Legal Deadline: None

Abstract: The Office of Federal Housing Enterprise Oversight (OFHEO) 
issued a proposed rule to set forth the basic policies of OFHEO 
regarding information it maintains and the procedures for obtaining 
access to such information. The rule contains regulations of OFHEO 
implementing the Freedom of Information Act (FOIA) and establishes a 
schedule of fees that will be charged for the processing of document 
requests under the FOIA. In addition, the proposed rule sets forth 
procedures to be followed with respect to testimony and the production 
of documents in legal proceedings in which OFHEO is not a named party 
as well as procedures for service of process upon OFHEO in any legal 
proceeding. After reviewing and considering public comments, OFHEO 
intends to issue a final rule in September 1997.

Timetable:
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Action                            Date                      FR Cite

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NPRM                            05/11/95                    60 FR 25162
NPRM Comment Period End         07/10/95
Final Action                    09/00/97

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Small Entities Affected: None

Government Levels Affected: None

Agency Contact: Anne E. Dewey, General Counsel, Office of Federal 
Housing Enterprise Oversight, 1700 G Street NW., Washington, DC 20552
Phone: 202 414-3800

RIN: 2550-AA01
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OFFICE OF FEDERAL HOUSING ENTERPRISE OVERSIGHT (OFHEO)Long-Term Actions


  



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3622. RISK-BASED CAPITAL

Priority:  Substantive, Nonsignificant

Legal Authority:  12 USC 4611; 12 USC 4513(b)(1)

CFR Citation:  12 CFR 1750

Legal Deadline:  Final, Statutory, December 1, 1994.

Abstract: Title XIII of the Housing and Community Development Act of 
1992, Pub. L. No. 102-550, known as the Federal Housing Enterprises 
Financial Safety and Soundness Act of 1992, 12 USC 4501 et seq., gives 
the Office of Federal Housing Enterprise Oversight (OFHEO) the 
responsibility for developing a risk-based capital regulation for the 
Federal National Mortgage Association and the Federal Home Loan 
Mortgage Corporation (collectively, the Enterprises). To discharge this 
responsibility, OFHEO must develop and implement a risk-based capital 
``stress test'' that determines the amount of capital that an 
Enterprise must hold initially to maintain positive capital throughout 
a ten-year period of economic stress (stress period).
A notice of proposed rulemaking was published on June 11, 1996, with a 
90-day comment period. The comment period was later extended to October 
24, 1996. The proposed regulation includes a discussion of the basis 
for identifying the benchmark loss experience which will provide the 
basis for calculating credit losses during the stress period. The 
proposed regulation also discusses OFHEO's housing price index which is 
proposed to be used to calculate the seasoning of mortgages. A 
subsequent second proposed regulation will include the details of all 
other aspects of the risk-based capital stress test.

Timetable:
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Action                            Date                      FR Cite

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ANPRM                           02/08/95                     60 FR 7468
ANPRM Comment Period End        05/09/95
NPRM                            06/11/96                    61 FR 29592
NPRM Comment Period Extended    08/19/96                    61 FR 42824
NPRM Comment Period Extended to 10/24/96


Next Action Undetermined

Small Entities Affected: None

Government Levels Affected: None

Agency Contact: Anne E. Dewey, General Counsel, Office of Federal 
Housing Enterprise Oversight, 1700 G Street NW., Washington, DC 20552
Phone: 202 414-3800

RIN: 2550-AA02
[FR Doc. 97-6694 Filed 04-24-97; 8:45 am]
BILLING CODE 4220-01-F