[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 LII





Federal Housing Finance Board





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Semiannual Regulatory Agenda

[[Page 74242]]



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: Federal Housing Finance Board, 1625 I Street NW., 
Washington, DC 20006.

FOR FURTHER INFORMATION CONTACT: Shelia S. Willis, Office of General 
Counsel, Federal Housing Finance Board, 1625 I Street NW., Washington, 
DC 20006; (202) 408-2876; e-mail: [email protected].

Dated: August 28, 2006

By the Federal Housing Finance Board.

 John P. Kennedy,

General Counsel.

                                 Federal Housing Finance Board--Final Rule Stage
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                                                                                                     Regulation
 Sequence                                           Title                                            Identifier
  Number                                                                                               Number
----------------------------------------------------------------------------------------------------------------
3994        Affordable Housing Program............................................................    3069-AB26
3995        Minimum Retained Earnings Requirement and Limitations on Excess Stock.................    3069-AB30
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                                Federal Housing Finance Board--Long-Term Actions
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                                                                                                     Regulation
 Sequence                                           Title                                            Identifier
  Number                                                                                               Number
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3996        Board Governance......................................................................    3069-AB19
3997        New Business Activities...............................................................    3069-AB20
3998        Community Support Requirements........................................................    3069-AB21
3999        Federal Home Loan Bank Anti-Money Laundering Programs.................................    3069-AB27
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                                Federal Housing Finance Board--Completed Actions
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                                                                                                     Regulation
 Sequence                                           Title                                            Identifier
  Number                                                                                               Number
----------------------------------------------------------------------------------------------------------------
4000        Data Reporting Requirements for the Federal Home Loan Banks...........................    3069-AB28
4001        Federal Home Loan Bank Director Elections.............................................    3069-AB31
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_______________________________________________________________________


Federal Housing Finance Board (FHFB)                   Final Rule Stage


  



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3994. AFFORDABLE HOUSING PROGRAM

Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is 
undetermined.

Legal Authority: 12 USC 1430(j)

CFR Citation: 12 CFR 951

Legal Deadline: None

Abstract: The Finance Board is adopting comprehensive amendments to its 
Affordable Housing Program regulation.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            12/28/05                    70 FR 76938
NPRM Comment Period End         04/27/06
Final Action Effective          01/00/07

[[Page 74243]]

Regulatory Flexibility Analysis Required: No

Small Entities Affected: No

Government Levels Affected: None

Agency Contact: Sharon B. Like, Senior Attorney-Advisor, Federal 
Housing Finance Board, 1625 I Street NW., Washington, DC 20006
Phone: 202 408-2930
Fax: 202 408-2580
Email: [email protected]

RIN: 3069-AB26
_______________________________________________________________________




3995. MINIMUM RETAINED EARNINGS REQUIREMENT AND LIMITATIONS ON EXCESS 
STOCK

Priority: Substantive, Nonsignificant

Legal Authority: 12 USC 1422a(a)(3); 12 USC 1422b(a)(1); 12 USC 
1426(a)(4); 12 USC 1436(a)

CFR Citation: 12 CFR 917; 12 CFR 925; 12 CFR 930; 12 CFR 931; 12 CFR 
934

Legal Deadline: None

Abstract: In March 2006, the Federal Housing Finance Board proposed a 
rule that would limit the amount of excess stock that a Federal Home 
Loan Bank (Bank) can have outstanding and that would prescribe a 
minimum amount of retained earnings for each Bank. The proposed 
amendments also would prohibit a Bank from selling excess stock to its 
members and paying dividends in the form of stock, and would restrict a 
Bank's ability to pay dividends when its retained earnings are below 
the prescribed minimum and require that a Bank declare and pay its 
dividends only after the close of the quarter to which the dividend 
relates.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            03/15/06                    71 FR 13306
NPRM Comment Period End         07/13/06
Final Action                    12/00/06

Regulatory Flexibility Analysis Required: No

Small Entities Affected: No

Government Levels Affected: None

Agency Contact: Thomas E. Joseph, Senior Attorney Advisor, Federal 
Housing Finance Board, 1625 I Street NW., Washington, DC 20006
Phone: 202 408-2512
Fax: 202 408-2580
Email: [email protected]

RIN: 3069-AB30
_______________________________________________________________________


Federal Housing Finance Board (FHFB)                  Long-Term Actions


  



_______________________________________________________________________




3996. BOARD GOVERNANCE

Priority: Other Significant

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

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-AB19
_______________________________________________________________________




3997. NEW BUSINESS ACTIVITIES

Priority: Other Significant

CFR Citation: 12 CFR 980

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-AB20
_______________________________________________________________________




3998. COMMUNITY SUPPORT REQUIREMENTS

Priority: Other Significant

CFR Citation: 12 CFR 944

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-AB21
_______________________________________________________________________




3999. FEDERAL HOME LOAN BANK ANTI-MONEY LAUNDERING PROGRAMS

Priority: Substantive, Nonsignificant. Major status under 5 USC 801 is 
undetermined.

CFR Citation: 12 CFR 979

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                             To Be                       Determined

Regulatory Flexibility Analysis Required: No

Small Entities Affected: No

Government Levels Affected: None

Agency Contact: Thomas Jennings
Phone: 202 408-2553
Fax: 202 408-2580
Email: [email protected]

RIN: 3069-AB27
_______________________________________________________________________


Federal Housing Finance Board (FHFB)                  Completed Actions


  



_______________________________________________________________________




4000. DATA REPORTING REQUIREMENTS FOR THE FEDERAL HOME LOAN BANKS

Priority: Substantive, Nonsignificant

Legal Authority: None

CFR Citation: 12 CFR 900; 12 CFR 914; 12 CFR 915; 12 CFR 917; 12 CFR 
925; 12 CFR 950 to 952; 12 CFR 955

Legal Deadline: None

Abstract: This rule is part of the Finance Board's reorganization of 
data reporting requirements for the Federal Home Loan Banks.

[[Page 74244]]

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

NPRM                            02/28/05                     70 FR 9551
NPRM Comment Period End         04/29/05
Final Action                    06/14/06                    71 FR 35495
Final Action Effective          07/21/06

Regulatory Flexibility Analysis Required: No

Small Entities Affected: No

Government Levels Affected: None

Agency Contact: Thomas Hearn, Attorney Advisor, Federal Housing Finance 
Board, 1625 I Street NW., Washington, DC 20006
Phone: 202 408-2976
Fax: 202 408-2580
Email: [email protected]

RIN: 3069-AB28
_______________________________________________________________________




4001. [bull] FEDERAL HOME LOAN BANK DIRECTOR ELECTIONS

Priority: Substantive, Nonsignificant

Legal Authority: 12 USC 1422(a)(3); 12 USC 1422 b(a); 12 USC 1426; 12 
USC 1427; 12 USC 1432

CFR Citation: 12 CFR 915

Legal Deadline: None

Abstract: The Federal Housing Finance Board amended its rules to assist 
each Federal Home Loan Bank (Bank) in having a board of directors whose 
members possess the range of skills and experience best suited to 
administer the affairs of the Bank.

Timetable:
________________________________________________________________________

Action                            Date                      FR Cite

________________________________________________________________________

Final Action                    07/18/06                    71 FR 40643
Final Action Effective          07/18/06

Regulatory Flexibility Analysis Required: No

Government Levels Affected: None

Federalism:  Undetermined

Agency Contact: Thomas Jennings, Senior Attorney Advisor, Federal 
Housing Finance Board, 1625 I Street NW, Washington, DC 20006
Phone: 202 408-2553
Fax: 202 408-2580
Email: [email protected]

RIN: 3069-AB31
[FR Doc. 06-7550 Filed 12-08-06; 8:45 am]
BILLING CODE 6725-01-S