United States Government Publishing Office publisher pbl distributor dst United States National Archives and Records Administration Office of the Federal Register author aut Government Organization text government publication eng FR Regulatory Information 2018_register executive 2018-12-20 article Rules and Regulations D09002ee1c7dd5de5 D09002ee1c7dd5e39 United States Federal Housing Finance Agency originator org United States Government Agency or Subagency The Federal Housing Finance Agency (FHFA) is amending its golden parachute payments regulation to better align it with areas of FHFA's supervisory concern and reduce administrative and compliance burdens. This final rule amends a requirement that FHFA review and consent before a regulated entity or the Office of Finance (OF) enters certain agreements to make, or makes, certain payments that are contingent on the termination of an affiliated party, if the regulated entity or the OF is in a troubled condition, in conservatorship or receivership, or insolvent. FHFA's experience implementing the regulation indicated that it required review of some agreements and payments where there was little risk of excess or abuse, and thus that it was too broad. As amended, the rule will reduce the number of agreements and payments that are subject to FHFA prior review by focusing on those agreements and payments where there is greater risk of an excessive or abusive payment (in general, payments to and agreements with executive officers, broad-based plans covering large numbers of employees (such as severance plans), and payments made to non-executive-officer employees who may have engaged in certain types of wrongdoing). In addition, the rule as amended clarifies the inquiry into possible employee wrongdoing that a regulated entity is required to undertake prior to entering into an agreement to make or making a golden parachute payment. Amendments also revise and clarify other rule procedures, definitions, and exemptions. 83 FR 65283 https://www.govinfo.gov/app/details/FR-2018-12-20/2018-27564 2018-27564 fr20de18-2 RIN 2590-AA72 8070-01-P https://www.govinfo.gov/app/details/FR-2018-12-20/2018-27564 https://www.govinfo.gov/content/pkg/FR-2018-12-20/html/2018-27564.htm https://www.govinfo.gov/content/pkg/FR-2018-12-20/pdf/2018-27564.pdf Golden Parachutes Government Sponsored Enterprises Indemnification Payments 10 p. 65283 65292 83 FR 65283 Title 12 Part 1231 12 CFR Part 1231 RIN 2590-AA72 Golden Parachute and Indemnification Payments; Federal Register Vol. 83, Issue RULE 2018-27564 FEDERAL HOUSING FINANCE AGENCY 2019-01-22 8070-01-P 2018-27564 Final rule.

The Federal Housing Finance Agency (FHFA) is amending its golden parachute payments regulation to better align it with areas of FHFA's supervisory concern and reduce administrative and compliance burdens. This final rule amends a requirement that FHFA review and consent before a regulated entity or the Office of Finance (OF) enters certain agreements to make, or makes, certain payments that are contingent on the termination of an affiliated party, if the regulated entity or the OF is in a troubled condition, in conservatorship or receivership, or insolvent. FHFA's experience implementing the regulation indicated that it required review of some agreements and payments where there was little risk of excess or abuse, and thus that it was too broad. As amended, the rule will reduce the number of agreements and payments that are subject to FHFA prior review by focusing on those agreements and payments where there is greater risk of an excessive or abusive payment (in general, payments to and agreements with executive officers, broad-based plans covering large numbers of employees (such as severance plans), and payments made to non-executive-officer employees who may have engaged in certain types of wrongdoing). In addition, the rule as amended clarifies the inquiry into possible employee wrongdoing that a regulated entity is required to undertake prior to entering into an agreement to make or making a golden parachute payment. Amendments also revise and clarify other rule procedures, definitions, and exemptions.

Effective date: January 22, 2019. Alfred Pollard, General Counsel, (202) 649-3050, Alfred.Pollard@fhfa.gov; Lindsay Simmons, Assistant General Counsel, (202) 649-3066, Lindsay.Simmons@fhfa.gov; or Mary Pat Fox, Manager for Compensation, Division of Enterprise Regulation, (202) 649- 3215, MaryPat.Fox@fhfa.gov. These are not toll-free numbers. The Golden Parachutes Government Sponsored Enterprises Indemnification Payments Golden Parachute and Indemnification Payments , Alfred.Pollard@fhfa.gov Lindsay.Simmons@fhfa.gov MaryPat.Fox@fhfa.gov Vol. 83, no. 244 Office of the Federal Register, National Archives and Records Administration 2018-12-20 continuing daily deposited born digital 209 p. Table of Contents: AE 2.7: GS 4.107: AE 2.106: KF70.A2 https://www.govinfo.gov/app/details/FR-2018-12-20 P0b002ee19e3568a2 0097-6326 0042-1219 0364-1406 769-004-00000-9 000582072 f:fr20de18 https://www.govinfo.gov/app/details/FR-2018-12-20 https://www.govinfo.gov/content/pkg/FR-2018-12-20/pdf/FR-2018-12-20.pdf https://www.govinfo.gov/content/pkg/FR-2018-12-20/xml/FR-2018-12-20.xml fdlp 65279 65479 DGPO 2018-12-20 2024-05-31 FR-2018-12-20 machine generated eng FR FR-2018-12-20 83 244