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Federal Home Loan Bank Membership for Community Development Financial Institutions

Open Date:
Open for comment
All comments are due by
Final Rule
Supervision and Regulation; Federal Home Loan Banks
Document Number:
12 CFR 1263; 12 CFR 1290; 12 CFR 925; 12 CFR 944
CFR Description:
Federal Register Publish Date:
Federal Register Citation:
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Contact Information:

​Sylvia C. Martinez, Senior Policy Advisor, (202) 408–2825, sylvia.martinez@fhfa.gov; Amy Bogdon, Senior Advisor, (202) 408–2546, amy.bogdon@fhfa.gov, Division of Federal Home Loan Bank Regulation; Neil R. Crowley, Deputy General Counsel, (202) 343–1316, neil.crowley@fhfa.gov (not toll-free numbers), Office of General Counsel, Federal Housing Finance Agency, Fourth Floor, 1700 G Street, NW., Washington, DC 20552.  If you are deaf, hard of hearing, or have a speech disability, please dial 7-1-1 to access telecommunications relay services. Additionally, the TDD 1-(800) number referenced in Rulemaking documents attached to this page is obsolete and the 7-1-1 number should be used.

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​SUMMARY: The Federal Housing Finance Agency (FHFA) is amending its membership regulations to implement provisions of the Housing and Economic Recovery Act of 2008 (HERA) that authorized community development financial institutions (CDFIs) that have been certified by the CDFI Fund of the U.S. Treasury Department (CDFI Fund) to become members of a Federal Home Loan Bank (Bank). The newly-eligible CDFIs include community development loan funds, venture capital funds, and State-chartered credit unions without Federal insurance. This final rule sets out the eligibility and procedural requirements that will enable CDFIs to become members of a Bank and relocates part 925 in its entirety to part 1263. FHFA also is amending its community support regulations to provide that certified CDFIs may be presumed to be in compliance with the statutory community support requirements by virtue of their certification by the CDFI Fund and relocates part 944 in its entirety to part 1290.

DATES: This rule is effective February 4, 2010.​

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