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


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Part LIII





Federal Housing Finance Board





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Semiannual Regulatory Agenda

[[Page 34162]]



FEDERAL HOUSING FINANCE BOARD (FHFB)                                   


  



_______________________________________________________________________

FEDERAL HOUSING FINANCE BOARD

12 CFR Ch. IX

Agenda of Federal Regulatory and Deregulatory Actions

AGENCY: Federal Housing Finance Board.

ACTION: Semiannual regulatory agenda.

_______________________________________________________________________

SUMMARY: The Federal Housing Finance Board (Finance Board) hereby 
publishes items for the Unified Agenda of Federal Regulatory and 
Deregulatory Actions, as required by section 4 of Executive Order 
12866. These items reflect the status of the regulatory agenda of the 
Finance Board as of March 12, 2002. The Finance Board is an independent 
agency in the executive branch of the Government that is charged by 
statute with supervising and regulating the Nation's Federal Home Loan 
Bank (Bank) System and the Financing Corporation (FICO). The Bank 
System comprises 12 regional Federal Home Loan Banks that are each 
owned by their member financial institutions and that provide wholesale 
credit to members and certain nonmembers to be used for mortgage 
lending and related community lending activities. The Bank System also 
includes the Office of Finance, which issues Bank System consolidated 
obligations. FICO is a corporate entity separate from the Bank System 
that oversees outstanding debt issued to assist in resolving the 
savings and loan crisis of the 1980s. The Finance Board has an ongoing 
need to adopt various regulations dealing with the agency's internal 
administration and with Bank System and FICO issues.

ADDRESSES: Secretary to the Board, Federal Housing Finance Board, 1777 
F Street NW., Washington, DC 20006, (202) 408-2837.

FOR FURTHER INFORMATION CONTACT: Mary H. Gottlieb, Office of General 
Counsel, Federal Housing Finance Board, 1777 F Street NW., Washington, 
DC 20006, (202) 408-2826; e-mail: [email protected].

By the Federal Housing Finance Board.

 James L. Bothwell,

Managing Director.

                               Federal Housing Finance Board--Proposed Rule Stage
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                                                                                                    Regulation
 Sequence                                          Title                                          Identification
  Number                                                                                              Number
----------------------------------------------------------------------------------------------------------------
3867        Definition of ``Non-Mortgage Assets''.............................     3069-AB10
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                                Federal Housing Finance Board--Long-Term Actions
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                                                                                                    Regulation
 Sequence                                          Title                                          Identification
  Number                                                                                              Number
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3868        Amendments to Privacy Act Regulation................................................     3069-AB07
3869        Federal Home Loan Bank Securities Offerings.........................................     3069-AB08
3870        Multiple Bank Membership............................................................     3069-AB09
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                                Federal Housing Finance Board--Completed Actions
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                                                                                                    Regulation
 Sequence                                          Title                                          Identification
  Number                                                                                              Number
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3871        Rules of Practice and Procedures....................................................     3069-AB03
3872        Unsecured Credit Limits.............................................................     3069-AB11
3873        Technical Corrections Related to Regulatory Reorganization..........................     3069-AB12
3874        Affordable Housing Program Amendments...............................................     3069-AB14
3875        Office of Finance Board of Directors Meetings.......................................     3069-AB15
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                                                   Federal Housing Finance Board--Discontinued Entries
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  Regulation
Identification                                             Title                                             Date Withdrawn            Comments
    Number
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3069-AB13        Amendment of Housing Associate Regulation                                                      02/04/2002   Withdrawn From
                                                                                                                              Consideration
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[[Page 34163]]

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Federal Housing Finance Board (FHFB)                Proposed Rule Stage


  



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3867. DEFINITION OF ``NON-MORTGAGE ASSETS''

Priority: Substantive, Nonsignificant

Legal Authority: 12 USC 1422b(a); 12 USC 1426(a)

CFR Citation: 12 CFR 966.3

Legal Deadline: None

Abstract: The Finance Board has published a proposed rule to redefine 
``non-mortgage assets'' for purposes of calculating 
the appropriate assets-to-capital leverage limit that applies to each 
Bank, pending the Bank's compliance with the new capital regulations.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            03/07/02                    67 FR 10337
NPRM Comment Period End         04/08/02

Regulatory Flexibility Analysis Required: No

Small Entities Affected: No

Government Levels Affected: None

Agency Contact: Neil R. Crowley, Deputy General Counsel, Federal 
Housing Finance Board, 1777 F Street NW., Washington, DC 20006
Phone: 202 408-2990
Fax: 202 408-2580
Email: [email protected]

RIN: 3069-AB10
_______________________________________________________________________


Federal Housing Finance Board (FHFB)                  Long-Term Actions


  



_______________________________________________________________________




3868. AMENDMENTS TO PRIVACY ACT REGULATION

Priority: Info./Admin./Other

CFR Citation: 12 CFR 913

Timetable: Next Action Undetermined

Regulatory Flexibility Analysis Required: No

Government Levels Affected: None

Agency Contact: Janice A. Kaye
Phone: 202 408-2505
Fax: 202 408-2580
Email: [email protected]

RIN: 3069-AB07
_______________________________________________________________________




3869. FEDERAL HOME LOAN BANK SECURITIES OFFERINGS

Priority: Other Significant

CFR Citation: 12 CFR 990

Timetable: Next Action Undetermined

Regulatory Flexibility Analysis Required: No

Government Levels Affected: None

Agency Contact: Neil R. Crowley
Phone: 202 408-2990
Fax: 202 408-2580
Email: [email protected]

RIN: 3069-AB08
_______________________________________________________________________




3870. MULTIPLE BANK MEMBERSHIP

Priority: Other Significant

CFR Citation: 12 CFR 925

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

Multiple Bank Membership 
Solicitation of Comments        10/03/01                    66 FR 50366
Extension of Comment Period     12/04/01                    66 FR 63007
Solicitation of Comments Period 
End                             03/04/02


Next Action Undetermined

Regulatory Flexibility Analysis Required: No

Government Levels Affected: None

Agency Contact: Neil R. Crowley
Phone: 202 408-2990
Fax: 202 408-2580
Email: [email protected]

RIN: 3069-AB09
_______________________________________________________________________


Federal Housing Finance Board (FHFB)                  Completed Actions


  



_______________________________________________________________________




3871. RULES OF PRACTICE AND PROCEDURES

Priority: Other Significant

Legal Authority: 12 USC 1422b(a)(1); 12 USC 1422b(a)(5); 12 USC 
4631(c); 12 USC 4631(f); 12 USC 1818(b)6 to 7; 12 USC 1422b(a)(2)

CFR Citation: 12 CFR 907; 12 CFR 908

Legal Deadline: None

Abstract: The Finance Board published final Rules of Practice and 
Procedure to implement enforcement powers conferred on the agency by 
the Federal Home Loan Bank System Modernization Act of 1999.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            12/18/00                    65 FR 78994
NPRM Comment Period End         01/17/01
Final Action                    03/05/02                     67 FR 9897
Final Action Effective          04/04/02

Regulatory Flexibility Analysis Required: No

Small Entities Affected: No

Government Levels Affected: None

Agency Contact: Charlotte A. Reid, Special Counsel, Federal Housing 
Finance Board, 1777 F Street NW., Washington, DC 20006
Phone: 202 408-2510
Fax: 202 408-2580
Email: [email protected]

RIN: 3069-AB03
_______________________________________________________________________




3872. UNSECURED CREDIT LIMITS

Priority: Other Significant

Legal Authority: 12 USC 1422b(a), 12 USC 1422(a)(3); 12 USC 1426; 12 
USC 1440

CFR Citation: 12 CFR 932.9

Legal Deadline: None

Abstract: The Finance Board amended the unsecured credit provisions of 
the capital rule to require FHLBanks to base unsecured credit limits on 
the long-term credit rating of a

[[Page 34164]]

counterparty, change the amount of unsecured credit that a FHLBank can 
extend to a Government-sponsored enterprise, and adjust the limits on 
overnight Federal funds transactions and on the amount of unsecured 
credit that can be extended to groups of affiliated counterparties. The 
amendments also clarified how an FHLBank calculates its credit exposure 
from on- and off-balance sheet items and derivative contracts, and made 
other clarifying and technical changes to the rule.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            03/07/01                    66 FR 13688
NPRM Comment Period End         04/23/01
NPRM                            08/08/01                    66 FR 41474
NPRM Comment Period End         09/07/01
Final Action                    12/27/01                    66 FR 66718
Final Action Effective          03/27/02

Regulatory Flexibility Analysis Required: No

Small Entities Affected: No

Government Levels Affected: None

Agency Contact: Thomas E. Joseph, Attorney-Advisor, Federal Housing 
Finance Board, 1777 F Street NW., Washington, DC 20006
Phone: 202 408-2512
Fax: 202 408-2580
Email: [email protected]

RIN: 3069-AB11
_______________________________________________________________________




3873. TECHNICAL CORRECTIONS RELATED TO REGULATORY REORGANIZATION

Priority: Info./Admin./Other

Legal Authority: 12 USC 1422b(a)

CFR Citation: 12 CFR ch IX

Legal Deadline: None

Abstract: In 2000, the Finance Board issued a final rule to reorganize 
and renumber its regulations. Because of the complexity of this 
rulemaking, several technical mistakes were made and several needed 
changes were overlooked. The Finance Board has issued a final rule 
making necessary technical corrections arising from the reorganization.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

Final Rule                      03/20/02                    67 FR 12841
Final Rule Effective Date       03/20/02

Regulatory Flexibility Analysis Required: No

Small Entities Affected: No

Government Levels Affected: None

Agency Contact: Mary H. Gottlieb, Federal Housing Finance Board, Office 
of General Counsel, 1777 F Street NW., Washington, DC 20006
Phone: 202 408-2826
Fax: 202 408-2580

RIN: 3069-AB12
_______________________________________________________________________




3874.  AFFORDABLE HOUSING PROGRAM AMENDMENTS

Priority: Substantive, Nonsignificant

Legal Authority: 12 USC 1430j

CFR Citation: 12 CFR 951

Legal Deadline: None

Abstract: The Finance Board has issued a final rule amending its 
regulations governing the operation of the Affordable Housing Program 
to improve its operation and effectiveness.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            12/27/01                    66 FR 66813
NPRM Comment Period End         02/25/02
Final Rule                      04/17/02                    67 FR 18796
Final Rule Effective Date       05/17/02

Regulatory Flexibility Analysis Required: No

Government Levels Affected: None

Agency Contact: Sharon B. Like, Senior Attorney-Advisor, Federal 
Housing Finance Board, 1777 F Street NW., Washington, DC 20006
Phone: 202 408-2930
Fax: 202 408-2580
Email: [email protected]

RIN: 3069-AB14
_______________________________________________________________________




3875.  OFFICE OF FINANCE BOARD OF DIRECTORS MEETINGS

Priority: Substantive, Nonsignificant

Legal Authority: 12 USC 1422b

CFR Citation: 12 CFR 985

Legal Deadline: None

Abstract: The Finance Board has issued a final rule amending its 
regulation governing the minimum number of meetings that the board of 
directors of the Office of Finance must hold each year to require at 
least six in-person meetings.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            03/07/02                    67 FR 10339
NPRM Comment Period End         04/08/02
Final Rule                      04/17/02                    67 FR 18806
Final Rule Effective            05/17/02

Regulatory Flexibility Analysis Required: No

Government Levels Affected: None

Agency Contact: Charlotte A. Reid, Special Counsel, Federal Housing 
Finance Board, 1777 F Street NW., Washington, DC 20006
Phone: 202 408-2510
Fax: 202 408-2580
Email: [email protected]

RIN: 3069-AB15
[FR Doc. 02-7697 Filed 05-10-02; 8:45 am]
BILLING CODE 6725-01-S
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