Federal Housing Finance Agency Print

​Opinions

Opinions are written statements advising on interpretations of law, regulation, or policy.

​Date ​Description ​Format

​3/11/2005

​2005-GC-01: Putable Advances and Replacement Funding

[PDF]

​6/16/2004

​2004-GC-01: Federal Home Loan Bank Securities Registration and Disclosure

​[PDF]

2/20/2002

​2002-GC-01: When is a Gathering of the Members of the Board of Directors of the FHFB Considered a "Meeting" for Purposes of the Government in the Sunshine Act?

​[PDF]

​5/22/2000

​2000-GC-02: Issuance of Consolidated Obligations Under Section 11(a) of the Federal Home Loan Bank Act

[PDF]

​2/11/2000

​2000-GC-01: Transfer of Capital Stock

[PDF]

12/10/1999

​1999-GC-05: Effect of New Statutory Requirement for Three-Year Terms of Office for Federal Home Loan Bank Directors

[PDF]

11/3/1999

​1999-GC-04: Proposal to Establish an Economic Development Program

[PDF]

​8/12/1999

​1999-GC-03: Federal Home Loan Bank Authority to Create and Sell Tranches

[PDF]

4/8/1999

​1999-GC-02: Federal Home Loan Bank Authority to Provide Consulting Services to Members Under Sections 11and 12 of the Federal Home Loan Bank Act

[PDF]

​3/18/1999

​1999-GC-01: Collateral For Advances Under Section 10(a)(2) of the Federal Home Loan Bank Act

[PDF]

10/8/1998

​1998-GC-14: Standby Letters of Credit

[PDF]

​10/6/1998

​1998-GC-13: Effect of the Statutory Purpose Limitation in Section 11(h) of the Federal Home Loan Bank Act on Federal Home Loan Bank Authority to Invest in a Small Business Investment Company (SBIC)

[PDF]

9/18/1998

​1998-GC-12: Meaning of the Term “Insurance Company” Under Section 4(a) of the Federal Home Loan Bank Act

[PDF]

​9/17/1998

​1998-GC-10: Issues Concerning Federal Home Loan Bank Mortgage Partnership Finance Programs

[PDF]

​​9/17/1998

​1998-GC-11: Conditional Membership Approvals Under the FHFB Membership Regulation for De Novo Insured Depository Institutions

[PDF]

7/9/1998

​1998-GC-09: Implementation of a Federal Home Loan Bank’s Federal Housing Administration Rent-to-Own Purchase Program

[PDF]

​6/10/1998

​1998-GC-07: Proposed Affordable Housing Program Subsidized Cooperative Share Loan Program

[PDF]

​6/10/1998

​1998-GC-08: Monitoring Requirements for Federal Home Loan Bank Affordable Housing Program Set-Aside Homeownership Programs

[PDF]

6/9/1998

​1998-GC-06: Whether Limited Obligation Mortgage Revenue Bonds Are Direct Obligations For Purposes of Section II.B.11. of the Financial Management Policy

[PDF]

​4/9/1998

​1998-GC-05: Incorporation of Affordable Housing Program Regulation Recapture Provisions Into Retention/Recapture Agreements for Certain Owner-Occupied Units

​[PDF]

​3/16/1998

​1998-GC-04: Whether a Federal Home Loan Bank May Accept 100 Percent Participation Interests Owned by a Member’s Second-Tier REIT Subsidiary in As Collateral for Advances Under Section 10(a) of the Federal Home Loan Bank Act

[PDF]

​2/27/1998

​1998-GC-03: Application of Median Income Standard by a Federal Home Loan Bank

[PDF]

2/19/1998

​1998-GC-02: Use of Community Investment Program (CIP) Advances by Members to Finance CIP-Eligible Loans by Third Parties

[PDF]

​1/21/1998

​1998-GC-01: Status of State and Local Mortgage Revenue Bonds and of SBA Certificates Under the Financial Management Policy

[PDF]

12/18/1996

​1996-GC-10: Authority of the Federal Home Loan Bank of Chicago to Establish a Pilot Mortgage Partnership Finance Program

[PDF]

9/10/1996

​1996-GC-09: Political Activities of Federal Home Loan Bank Directors

[PDF]

8/21/1996

​1996-GC-08: Use of Community Investment Program (CIP) Advances to Purchase Housing Bonds and Mortgage Backed Securities

[PDF]

6/27/1996

​1996-GC-07: Authority of the Federal Home Loan Banks to Act as Counterparties in Derivative Contracts

[PDF]

6/10/1996

​1996-GC-06: Interpretation of the “Readily Ascertainable Value” Requirement For Eligible Collateral Under Section 10(a)(4) of the Federal Home Loan Bank Act

[PDF]

​3/22/1996

​1996-GC-05: Federal Home Loan Bank Membership for a Member That Changes Its Charter and Then Relocates Its Home Office to, and Merges With a Member of, a Different Federal Home Loan Bank District

​[PDF]

​2/15/1996

​1996-GC-04: Compensation of Appointed, Acting or Former Federal Home Loan Bank Chairpersons

[PDF]

​2/8/1996

​1996-GC-03: Eligibility of Municipal Bond Securities as Collateral for Federal Home Loan Bank Advances

[PDF]

​2/5/1996

​1996-GC-02: Lobbying Disclosure Act of 1995

​[PDF]

​1/5/1996

​1996-GC-01: Pledge of Collateral by a Nonmember to Support an Advance by a Federal Home Loan Bank to a Member

[PDF]

​8/7/1995

​1995-GC-04: Transfer of Membership and Sale of Advances Between Federal Home Loan Banks

[PDF]

​3/7/1995

​1995-GC-03: Eligibility of Indian Housing Authorities to Receive Federal Home Loan Bank Advances

[PDF]

​2/16/1995

​1995-GC-02: Meaning of the Term “Securities” in Section 16(a) of the Federal Home Loan Bank Act

[PDF]

​1/11/1995

​1995-GC-01: Federal Home Loan Bank Authority Under the Financial Management Policy to Offer Caps, Collars and Floors to Members

[PDF]

​2/25/1994

​1994-GC-04: Acceptance of Mutual Fund Share as Collateral for Federal Home Loan Bank Advances

[PDF]

​3/9/1994

​1994-GC-03: Interpretation of Section 10(i) of the Federal Home Loan Bank Concerning the Community Investment Program

[PDF]

​2/2/1994

​1994-GC-02: Federal Advisory Committee Act

[PDF]

​2/1/1994

​1994-GC-01: Effect of an Acquisition on the Qualified Thrift Lender (QTL) Status of Federal Home Loan Bank Advances

[PDF]

​8/26/1993

​1993-GC-04: Commercial Lending Authority of Federally Chartered Savings Associations

​[PDF]

​8/26/1993

​1993-GC-05: Transfer of Stock From a Federal Home Loan Bank Member to a Nonmember

​[PDF]

​7/6/1993

​1993-GC-03: Interpretation of Section 10(b) of the Federal Home Loan Bank Act

[PDF]

​3/30/1993

​1993-GC-02: Application of the Non-Qualified Thrift Lender Provisions in the Federal Home Loan Bank Act to Insurance Company Members

[PDF]

​2/11/1993

​1993-GC-01: Application of the Federal Regulation of Lobbying Act to Federal Home Loan Bank Staff

[PDF]

​1993-GC-02_attachment.pdf

[PDF]

​12/24/1992

​1992-GC-10: Effect of In-Substance Defeasance on Calculation of the Federal Home Loan Banks Compliance with the Leverage Ratio and Negative Pledge Requirements

[PDF]

​10/20/1992

​1992-GC-08: Authority for Federal Home Loan Banks to Pledge Collateral Pursuant to Interest Rate Swap

[PDF]

​10/20/1992

​1992-GC-09: Applicability of OMB Circular A-133 to the Affordable Housing Program and Community Investment Program

[PDF]

​9/30/1992

​1992-GC-07: Use of Affordable Housing Program Funds for Federal Home Loan Bank Cancellation and Prepayment Fees

​[PDF]

​8/24/1992

​1992-GC-06: Federal Funds as Deposits in Banks or Trust Companies

​[PDF]

​5/15/1992

​1992-GC-05: Applicability of Executive Order 11478 to the Federal Home Loan Bank System

[PDF]

​4/13/1992

​1992-GC-04: Risk-Based Pricing Program for Federal Home Loan Bank Advances

[PDF]

​3/5/1992

​1992-GC-03: Unilateral Retirement of Federal Home Loan Bank Stock

​[PDF]

​3/4/1992

​1992-GC-02: Federal Home Loan Banks Providing Correspondent Services to Non-Members

[PDF]

​1/7/1992

​1992-GC-01: Potential Affordable Housing Program and Community Investment Program Conflicts of Interest

[PDF]

​10/31/1991

​1991-GC-24: The Negative Asset Pledge Requirement to Support the Consolidated Bonds

[PDF]

​10/30/1991

​1991-GC-23: Use of Home Equity Loans to Meet the 10% Federal Home Loan Bank Membership Eligibility Requirement in Section 4(a)(2)(A) of the Federal Home Loan Bank Act

[PDF]

​10/17/1991

​1991-GC-22: Delegation of Authority to the Federal Home Loan Banks to Approve Membership Applications

[PDF]

​10/11/1991

​1991-GC-25: Federal Home Loan Bank Membership Requirements

​[PDF]

​8/29/1991

​1991-GC-19: Authority of State Housing Agencies to Receive Federal Home Loan Bank Advances

[PDF]

​8/29/1991

​1991-GC-20: Effect of Federal Home Loan Bank Advance Participations on the Limit on Advances to Non-Qualified Thrift Lender Members and the Stock Subscription Requirements for Members

[PDF]

​8/27/1991

​1991-GC-18: Treatment of Federal Home Loan Bank Advance Participation Transactions Under the Proposed Master Participation Agreement

[PDF]

​8/1/1991

​1991-GC-17: Pricing Limitations on Federal Home Loan Bank Advances

[PDF]

​7/22/1991

​1991-GC-16: Cash Collateral For Letters of Credit

[PDF]

​7/11/1991

​1991-GC-13: Availability of Offset to Federal Home Loan Bank on Cancellation of Departing Member’s Capital Stock

[PDF]

​7/11/1991

​1991-GC-14: Authority to Waive the Six-Month Waiting Period Under Section 6(e) of the Federal Home Loan Bank Act Before Withdrawal From Federal Home Loan Bank Membership

[PDF]

​7/1/1991

​1991-GC-12: Federal Home Loan Bank Letter of Credit Enhancements of Tax-Exempt Bonds Under Section 149 of the Internal Revenue Code

[PDF]

​6/14/1991

​1991-GC-15: Proper Treatment of Federal Home Loan Bank (Bank) Capital Stock Held by a Receiver of a Bank Member

[PDF]

​6/3/1991

​1991-GC-10: Application of 20 Percent Maximum Subsidy Rule to Approved 1990 Affordable Housing Program (AHP) Projects

[PDF]

​6/3/1991

​1991-GC-11: Proposed Change in REFCorp Expense Variable for Affordable Housing Program (AHP) Calculation Formula

​[PDF]

​5/17/1991

​1991-GC-09: Interpretation of “Prior Year” in the Shortfall Formula for REFCorp Interest Payments

[PDF]

​5/7/1991

​1991-GC-08: Legal Issues Raised By Draft Community Support Regulations

[PDF]

​5/3/1991

​1991-GC-06: Federal Home Loan Banks Standby Letters of Credit Authority

[PDF]

​5/3/1991

​1991-GC-07: Secondary Mortgage Market Opinions

[PDF]

​5/1/1991

​1991-GC-05: Minimum Stock Requirement for Election of Federal Home Loan Bank Directors

[PDF]

​4/18/1991

​1991-GC-04: Use of Collateralized Mortgage Obligations (CMOs) to Meet the 10% Federal Home Loan Bank Membership Eligibility Requirement in Section 4(a)(2)(A) of the Federal Home Loan Bank Act

[PDF]

​4/10/1991

​1991-GC-03: Authority to Set Salaries of Federal Home Loan Bank Officials

[PDF]

​2/18/1991

​1991-GC-02: Proposed Changes to Monthly Interest Rate Survey (MIRS)

[PDF]

​2/7/1991

​1991-GC-01: Treatment of Outstanding Affordable Housing Program (AHP) Advances Upon Termination of Membership

​[PDF]

​6/6/1990

​1990-GC-01: Affordable Housing Program (AHP) Funding Issues

[PDF]

 

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