[The Regulatory Plan and 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 LV






Federal Housing Finance Board





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Semiannual Regulatory Agenda

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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. 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.

     This edition of the Unified Agenda of Federal Regulatory and 
Deregulatory Actions includes The Regulatory Plan, which appears in 
part II of this issue of the Federal Register. The Finance Board's 
Statement of Regulatory Priorities is included in part II.

ADDRESSES: Secretary to the Board, Federal Housing Finance Board, 1777 
F Street NW., Washington, DC 20006, (202) 408-2837; E-mail: 
[email protected].

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].

Dated: September 23, 2002.

By the Federal Housing Finance Board.

 Arnold Intrater,

General Counsel.

                                Federal Housing Finance Board--Long-Term Actions
----------------------------------------------------------------------------------------------------------------
                                                                                                    Regulation
 Sequence                                          Title                                          Identification
  Number                                                                                              Number
----------------------------------------------------------------------------------------------------------------
4152        Amendments to Privacy Act Regulation................................................     3069-AB07
4153        Multiple Bank Membership............................................................     3069-AB09
4154        Acquired Member Assets..............................................................     3069-AB18
4155        Bank Governance.....................................................................     3069-AB19
4156        New Business Activities.............................................................     3069-AB20
4157        Community Support Requirements......................................................     3069-AB21
4158        Public Disclosure...................................................................     3069-AB22
----------------------------------------------------------------------------------------------------------------


                                Federal Housing Finance Board--Completed Actions
----------------------------------------------------------------------------------------------------------------
                                                                                                    Regulation
 Sequence                                          Title                                          Identification
  Number                                                                                              Number
----------------------------------------------------------------------------------------------------------------
4159        Definition of ``Non-Mortgage Assets''...............................................     3069-AB10
4160        Affordable Housing Program Amendments...............................................     3069-AB16
----------------------------------------------------------------------------------------------------------------


                                                   Federal Housing Finance Board--Discontinued Entries
--------------------------------------------------------------------------------------------------------------------------------------------------------
  Regulation
Identification                                             Title                                                  Date                 Comments
    Number
--------------------------------------------------------------------------------------------------------------------------------------------------------
3069-AB08        Federal Home Loan Bank Securities Offerings                                                    09/03/2002   Withdrawn from
                                                                                                                              Consideration
--------------------------------------------------------------------------------------------------------------------------------------------------------

_______________________________________________________________________


Federal Housing Finance Board (FHFB)                  Long-Term Actions






_______________________________________________________________________




4152. AMENDMENTS TO PRIVACY ACT REGULATION

Priority: Info./Admin./Other

CFR Citation: 12 CFR 913

Timetable: Next Action Undetermined

Regulatory Flexibility Analysis Required: No

Small Entities Affected: No

Government Levels Affected: None

Agency Contact: Janice A. Kaye
Phone: 202 408-2505
Fax: 202 408-2580

[[Page 75591]]

Email: [email protected]

RIN: 3069-AB07
_______________________________________________________________________




4153. 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

Small Entities Affected: No

Government Levels Affected: None

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

RIN: 3069-AB09
_______________________________________________________________________




4154. [bull] ACQUIRED MEMBER ASSETS

Priority: Other Significant

Legal Authority: 12 USC 1422a; 12 USC 1422b; 12 USC 1430; 12 USC 1430b; 
12 USC 1431

CFR Citation: 12 CFR 955

Legal Deadline: None

Abstract: The Finance Board is considering a rulemaking to review the 
structure of authorized acquired member asset products to determine if 
Banks have sufficient flexibility in creating new products that will be 
responsive to member needs.

Timetable: Next Action Undetermined

Regulatory Flexibility Analysis Required: 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-AB18
_______________________________________________________________________




4155. [bull] BANK GOVERNANCE

Priority: Other Significant

Legal Authority: 12 USC 1422a; 12 USC 1422b; 12 USC 1426; 12 USC 1427; 
12 USC 1432; ...

CFR Citation: 12 CFR 915; 12 CFR 917; 12 CFR 918

Legal Deadline: None

Abstract: The Finance Board is considering a rulemaking that would more 
clearly delineate the responsibilities and the accountability of the 
board of directors for governance of a Bank.

Timetable: Next Action Undetermined

Regulatory Flexibility Analysis Required: No

Government Levels Affected: None

Agency Contact: Arnold Intrater, General Counsel, Federal Housing 
Finance Board, 1777 F Street NW., Washington, DC 20552
Phone: 202 408-2536
Email: [email protected]

RIN: 3069-AB19
_______________________________________________________________________




4156. [bull] NEW BUSINESS ACTIVITIES

Priority: Other Significant

Legal Authority: 12 USC 1422a; 12 USC 1422b; 12 USC 1431; 12 USC 1432

CFR Citation: 12 CFR 980

Legal Deadline: None

Abstract: The Finance Board is considering a rulemaking to streamline 
its review of new business activities proposed by a Bank to more 
clearly focus the regulatory review process on ensuring that a new 
product, service, or activity will not endanger the continued safe and 
sound operation of the Bank.

Timetable: Next Action Undetermined

Regulatory Flexibility Analysis Required: No

Government Levels Affected: None

Agency Contact: John P. Foley, Senior Attorney, Federal Housing Finance 
Board, 1777 F Street NW., Washington, DC 20552
Phone: 202 408-2932
Email: [email protected]

RIN: 3069-AB20
_______________________________________________________________________




4157. [bull] COMMUNITY SUPPORT REQUIREMENTS

Priority: Other Significant

Legal Authority: 12 USC 1422a; 12 USC 1422b; 12 USC 1430; 12 USC 1430b; 
12 USC 1431

CFR Citation: 12 CFR 944

Legal Deadline: None

Abstract: The Finance Board is considering a rulemaking to streamline 
the community support requirements to eliminate unnecessary regulatory 
burden, while preserving the statutory intent of ensuring that members' 
access to long-term advances reflects such factors as their record of 
performance under the Community Reinvestment Act and their record of 
lending to first-time homebuyers.

Timetable: Next Action Undetermined

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-AB21
_______________________________________________________________________




4158. [bull] PUBLIC DISCLOSURE

Priority: Other Significant

Legal Authority: Not Yet Determined

CFR Citation: Not Yet Determined

Legal Deadline: None

Abstract: The Finance Board is considering a rulemaking that would 
improve public disclosure by the Banks including addressing the 
requirements of the Securities Act of 1933 and Securities Exchange Act 
of 1934, as these Acts are interpreted and applied by the SEC.

Timetable: Next Action Undetermined

Regulatory Flexibility Analysis Required: No

Government Levels Affected: None

Agency Contact: John P. Foley, Senior Attorney, Federal Housing Finance 
Board, 1777 F Street NW., Washington, DC 20552
Phone: 202 408-2932
Email: [email protected]

RIN: 3069-AB22

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_______________________________________________________________________


Federal Housing Finance Board (FHFB)                  Completed Actions






_______________________________________________________________________




4159. 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 published a final 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
Final Action                    05/21/02                    67 FR 35713
Final Action Effective          06/20/02

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]

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-AB10
_______________________________________________________________________




4160. [bull] AFFORDABLE HOUSING PROGRAM AMENDMENTS

Priority: Other Significant

Legal Authority: 12 USC 1430(j)

CFR Citation: 12 CFR 591

Legal Deadline: None

Abstract: The Finance Board published a final rule to amend its 
regulation governing the operation of the Affordable Housing Program 
(AHP) to authorize a Federal Home Loan Bank to set aside annually an 
additional amount, up to the greater of $1.5 million or 10 percent of 
the Bank's annual required AHP contribution, to assist low- or 
moderate-income, first-time homebuyers under the Bank's homeownership 
set-aside program.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            06/20/02                    67 FR 41872
NPRM Comment Period End         08/19/02
Final Action                    09/19/02                    67 FR 58978
Final Action Effective          10/21/02

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]

Related RIN: Previously reported as 3069-AB15
RIN: 3069-AB16
[FR Doc. 02-25201 Filed 12-06-02; 8:45 am]
BILLING CODE 6725-01-S
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