[ The Regulatory Plan and 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.

Dated: September 1, 1998.

Mark A. Kinsey,

Acting Director, Office of Federal Housing Enterprise Oversight.
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OFFICE OF FEDERAL HOUSING ENTERPRISE OVERSIGHT      Proposed Rule Stage
  
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3968. RULES OF PRACTICE AND PROCEDURE

Priority:  Info./Admin./Other

Legal Authority:  12 USC 4513(b)(1); 12 USC 4631 to 4641

CFR Citation:  12 CFR 1780

Legal Deadline: None

Abstract: The Office of Federal Housing Enterprise Oversight (OFHEO) 
issued a final 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 U.S.C. 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 final 
regulation sets rules of practice, including debarment, suspension and 
other sanctions, for persons who practice before OFHEO.

Timetable:
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Action                            Date                      FR Cite

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NPRM                            09/24/98                    63 FR 51031
NPRM Comment Period End         11/23/98

Regulatory Flexibility Analysis Required: No

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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OFFICE OF FEDERAL HOUSING ENTERPRISE OVERSIGHT (OFHEO) Final Rule Stage
  
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3969. RELEASING INFORMATION

Priority:  Other Significant

Legal Authority:  5 USC 552; 12 USC 4513; 12 USC 4522; 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 1998.

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                    12/00/98

Regulatory Flexibility Analysis Required: No

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 (Long-Term Actions)
  
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3970. RISK-BASED CAPITAL

Priority:  Other Significant

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 U.S.C. 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 10-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

Regulatory Flexibility Analysis Required: No

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
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OFFICE OF FEDERAL HOUSING ENTERPRISE OVERSIGHT (Completed Actions)
  
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3971. IMPLEMENTATION OF THE PRIVACY ACT OF 1974

Priority:  Other Significant

Legal Authority:  5 USC 552a

CFR Citation:  12 CFR 1720

Legal Deadline: None

Abstract: The final regulation implements the Privacy Act of 1974 (5 
U.S.C. 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 final regulation applies to 
all records that are contained in systems of records maintained by the 
Office of Federal Housing Enterprise Oversight. The final 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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Interim Final Rule              02/23/98                     63 FR 8840
Final Action                    05/12/98                    63 FR 26063

Regulatory Flexibility Analysis Required: No
Small Entities Affected: No

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
[FR Doc. 98-25582 Filed 11-06-98; 8:45 am]
BILLING CODE 4220-$$-F