[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 XXXIV





Office of Federal Housing Enterprise Oversight





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Semiannual Regulatory Agenda

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OFFICE OF FEDERAL HOUSING ENTERPRISE OVERSIGHT (OFHEO)                 


  



_______________________________________________________________________

OFFICE OF FEDERAL HOUSING ENTERPRISE OVERSIGHT

12 CFR Ch. XVII

Unified Agenda of Federal Regulatory and Deregulatory Actions

AGENCY:  Office of Federal Housing Enterprise Oversight.

ACTION:  Semiannual regulatory agenda.

_______________________________________________________________________

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:  Alfred M. Pollard, General Counsel, 
Office of Federal Housing Enterprise Oversight, 1700 G Street NW., 
Washington, DC 20552, (202) 414-3788.

Dated:  August 15, 2001.

 Armando Falcon, Jr.,

Director, Office of Federal Housing Enterprise Oversight.
_______________________________________________________________________


Office of Federal Housing Enterprise Oversight (OFHEProposed Rule Stage


  



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3881. MINIMUM CAPITAL

Priority: Substantive, Nonsignificant

Legal Authority: 12 USC 4612

CFR Citation: 12 CFR 1750

Legal Deadline: None

Abstract: OFHEO is proposing an amendment that will update the minimum 
capital regulation to accommodate changes in Generally Accepted 
Accounting Principles, clarify reporting requirements, and make 
supervisory monitoring of capital more transparent.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            12/00/01

Regulatory Flexibility Analysis Required: No

Small Entities Affected: No

Government Levels Affected: None

Agency Contact: Dorothy J. Acosta, Deputy General Counsel, Office of 
Federal Housing Enterprise Oversight, 1700 G Street NW, Washington, DC 
20552
Phone: 202 414-3748

RIN: 2550-AA18
_______________________________________________________________________




3882. CORPORATE GOVERNANCE

Priority: Substantive, Nonsignificant

Legal Authority: 12 USC 4513; 12 USC 4631; 12 USC 4632

CFR Citation: 12 CFR 1710

Legal Deadline: None

Abstract: The Office of Federal Housing Enterprise Oversight (OFHEO) is 
responsible for ensuring the safety and soundness of the Federal 
National Mortgage Association and the Federal Home Loan Mortgage 
Corporation (Enterprises). In furtherance of that responsibility, OFHEO 
is proposing a regulation to set forth minimum requirements with 
respect to corporate governance practices and procedures of the 
Enterprises.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            04/10/01                    66 FR 18709
NPRM Withdrawn                  04/20/01                    66 FR 20217
NPRM                            09/12/01                    66 FR 47557
NPRM Comment Period End         11/13/01
NPRM Comment Period Extended    12/13/01                    66 FR 56619

Regulatory Flexibility Analysis Required: No

Small Entities Affected: No

Government Levels Affected: None

Agency Contact: Alfred M. Pollard, General Counsel, Office of Federal 
Housing Enterprise Oversight, 1700 G Street NW, Washington, DC 20552
Phone: 202 414-3788
Email: [email protected]

RIN: 2550-AA20
_______________________________________________________________________




3883.   FLOOD INSURANCE

Priority: Info./Admin./Other

Legal Authority: 12 USC 4521(a)(4); 42 USC 4001 note; 28 USC 2461 note; 
42 USC 4012a(f)(3), (4), (8), (10); 12 USC 4513; 12 USC 4536(a)

CFR Citation: 12 CFR 1773

Legal Deadline: None

Abstract: OFHEO is proposing to codify the authority and responsibility 
of OFHEO to oversee and enforce the statutory requirements affecting 
the operations of the Federal National Mortgage Association and the 
Federal Home Loan Mortgage Corporation under the National Flood 
Insurance Reform Act of 1994, and to effect congressionally mandated 
adjustments to the civil money penalties applicable to violations of 
that law.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            09/12/01                    66 FR 47563
NPRM Comment Period End         10/12/01
Final Action                    12/00/01

Regulatory Flexibility Analysis Required: No

Small Entities Affected: No

Government Levels Affected: None

Agency Contact: Alfred M. Pollard, General Counsel, Office of Federal 
Housing Enterprise Oversight, 1700 G Street NW, Washington, DC 20552
Phone: 202 414-3788
Email: [email protected]

RIN: 2550-AA21
_______________________________________________________________________




3884.   SAFETY AND SOUNDNESS

Priority: Substantive, Nonsignificant

Legal Authority: 12 USC 4513(a); 12 USC 4513(b)(1) to (b)(5); 12 USC 
4517(a); 12 USC 4521(a)(2) to (a)(3); 12 USC 4631; 12 USC 4632; 12 USC 
4636

CFR Citation: 12 CFR 1720

Legal Deadline: None

Abstract: The Office of Federal Housing Enterprise Oversight (OFHEO) is 
proposing a regulation to increase transparency and public awareness of 
the supervisory standards that OFHEO applies in overseeing the safety 
and soundness of the Federal National Mortgage Association and the 
Federal Home Loan Mortgage Corporation. Two policy guidances are 
attached to the proposed rule--one sets forth minimum

[[Page 62459]]

safety and soundness requirements, and the other sets forth standards 
for financial information systems.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            12/00/01

Regulatory Flexibility Analysis Required: No

Small Entities Affected: No

Government Levels Affected: None

Agency Contact: Alfred M. Pollard, General Counsel, Office of Federal 
Housing Enterprise Oversight, 1700 G Street NW, Washington, DC 20552
Phone: 202 414-3788
Email: [email protected]

RIN: 2550-AA22
_______________________________________________________________________




3885.   RISK-BASED CAPITAL

Priority: Other Significant

Legal Authority: 12 USC 4513; 12 USC 4514; 12 USC 4611; 12 USC 4612; 12 
USC 4614

CFR Citation: 12 CFR 1750

Legal Deadline: None

Abstract: The Office of Federal Housing Enterprise Oversight is 
proposing to amend appendix A to subpart B of 12 CFR part 1750 ``Risk-
Based Capital'' to modify provisions relating to counterparty haircuts, 
modeling of multifamily loans, and refunding and to make several 
technical adjustments and enhancements. These amendments are intended 
to refine the stress test model to tie capital more closely to risk.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            12/00/01

Regulatory Flexibility Analysis Required: No

Small Entities Affected: No

Government Levels Affected: None

Agency Contact: Dorothy J. Acosta, Deputy General Counsel, Office of 
Federal Housing Enterprise Oversight, 1700 G Street NW, Washington, DC 
20552
Phone: 202 414-3748

RIN: 2550-AA23
_______________________________________________________________________


Office of Federal Housing Enterprise Oversight (OFHEO) Final Rule Stage


  



_______________________________________________________________________




3886. PROMPT SUPERVISORY RESPONSE AND PROMPT CORRECTIVE ACTION

Priority: Substantive, Nonsignificant

Legal Authority: 12 USC 1452(b)(2); 12 USC 1456(c); 12 USC 1718(c)(2); 
12 USC 1723a(k); 12 USC 4513(a),(b); 12 USC 4514; 12 USC 4517; 12 USC 
4611 to 4619; 12 USC 4622 to 4623; 12 USC 4631; 12 USC 4635; ...

CFR Citation: 12 CFR 1777

Legal Deadline: None

Abstract: The proposed regulation will implement 12 U.S.C. 4611-4619 
and 4622-4623, requiring classification of the Federal National 
Mortgage Association and the Federal Home Loan Mortgage Corporation 
(the Enterprises) according to their capital ratios, with mandatory 
action to be taken if classified as less than `adequately capitalized.' 
Certain other actions may also be required under the proposed 
regulation whenever specified developments occur that warrant special 
supervisory review by OFHEO.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            04/10/01                    66 FR 18702
NPRM Comment Period End         07/09/01
Final Action                    12/00/01

Regulatory Flexibility Analysis Required: No

Small Entities Affected: No

Government Levels Affected: None

Agency Contact: Alfred M. Pollard, General Counsel, Office of Federal 
Housing Enterprise Oversight, 1700 G Street NW, Washington, DC 20552
Phone: 202 414-3788
Email: [email protected]

RIN: 2550-AA12
_______________________________________________________________________


Office of Federal Housing Enterprise Oversight (OFHEO)Long-Term Actions


  



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3887. RISK-BASED CAPITAL

Priority: Economically Significant. Major under 5 USC 801.

Legal Authority: 12 USC 4513; 12 USC 4514; 12 USC 4611 to 4612; 12 USC 
4614; 12 USC 4618

CFR Citation: 12 CFR 1750

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

Abstract: The final regulation specifies the risk-based capital stress 
test that is used to determine the amount of capital the Federal 
National Mortgage Association and the Federal Home Loan Mortgage 
Corporation (the Enterprises) must each hold to maintain positive 
capital throughout a 10-year period of economic stress. The results of 
the risk-based capital stress test will be used to determine each 
Enterprise's risk-based capital requirements and, along with the 
minimum capital requirement, to determine each Enterprise's capital 
classification for purposes of possible supervisory action.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

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
Second NPRM                     04/13/99                    64 FR 18083
Second NPRM Comment Period 
Extended                        06/14/99                    64 FR 31756
Availability of Supplemental 
Information                     06/18/99                    64 FR 32828

[[Page 62460]]

Second NPRM Comment Period 
Extended                        10/19/99                    64 FR 56274
Solicitation of Reply Comments  03/13/00                    65 FR 13251
Final Rule                      09/13/01                    66 FR 47730
Final Rule Effective            09/13/01
Final Action                     To Be                       Determined

Regulatory Flexibility Analysis Required: No

Government Levels Affected: None

Agency Contact: Dorothy J. Acosta, Deputy General Counsel, Office of 
Federal Housing Enterprise Oversight, 1700 G Street NW, Washington, DC 
20552
Phone: 202 414-3748

RIN: 2550-AA02
_______________________________________________________________________




3888. ENFORCEMENT OF NONDISCRIMINATION ON THE BASIS OF DISABILITY IN 
PROGRAMS OR ACTIVITIES CONDUCTED BY THE OFFICE OF FEDERAL HOUSING 
ENTERPRISE OVERSIGHT

Priority: Info./Admin./Other

Legal Authority: 29 USC 794

CFR Citation: 12 CFR 1706

Legal Deadline: None

Abstract: The proposed regulation will implement section 504 of the 
Rehabilitation Act of 1973 to prohibit discrimination on the basis of 
disability in programs or activities conducted by OFHEO.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                             To Be                       Determined

Regulatory Flexibility Analysis Required: No

Small Entities Affected: No

Government Levels Affected: None

Agency Contact: Isabella W. Sammons, Associate General Counsel, Office 
of Federal Housing Enterprise Oversight, 1700 G Street NW, Washington, 
DC 20552
Phone: 202 414-3790

RIN: 2550-AA11
_______________________________________________________________________


Office of Federal Housing Enterprise Oversight (OFHEO)Completed Actions


  



_______________________________________________________________________




3889. EXECUTIVE COMPENSATION

Priority: Substantive, Nonsignificant

Legal Authority: 12 USC 1452(h)(2); 12 USC 1723a(d)(3)(B); 12 USC 
4501(6); 12 USC 4502(3),(7); 12 USC 4513 to 4514; 12 USC 4517 to 
4518(a); 12 USC 4631 to 4632; 12 USC 4636; 12 USC 4641; ...

CFR Citation: 12 CFR 1770

Legal Deadline: None

Abstract: This regulation clarifies the procedures OFHEO uses in 
overseeing compensation provided by the Federal National Mortgage 
Association and the Federal Home Loan Mortgage Corporation (the 
Enterprises) to their executive officers. It largely formalizes 
processes currently used by OFHEO in performing its executive 
compensation oversight responsibilities by requiring the timely 
submission of relevant information by the Enterprises.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            12/27/00                    65 FR 81771
NPRM Comment Period End         03/27/01
Final Action                    09/12/01                    66 FR 47550
Final Action Effective          10/29/01

Regulatory Flexibility Analysis Required: No

Small Entities Affected: No

Government Levels Affected: None

Agency Contact: Christine C. Dion, Associate General Counsel, Office of 
Federal Housing Enterprise Oversight, 1700 G Street NW, Washington, DC 
20552
Phone: 202 414-3838

RIN: 2550-AA13
[FR Doc. 01-23858 Filed 11-30-01; 8:45 am]
BILLING CODE 4220-$$-S
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