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 Releases, Statements, Speeches and Testimony

 

 

FHFA Requests Input on FHLBank System Mission450405/16/2024 4:00:00 AMNews Release<p style="padding-top&#58;8px !important;"> <strong>​​​​​​​​​​​​​​Washington, D.C.</strong> –&#160;Today, the Federal Housing Finance Agency (FHFA) issued a Request for Input (RFI) on the mission of the Federal Home Loan Bank (FHLBank) System as the Agency considers next steps for related rulemakings.</p><p>The RFI provides an opportunity for the public to provide feedback on a core recommendation of FHFA’s <a href="/AboutUs/Reports/ReportDocuments/FHLBank-System-at-100-Report.pdf">Federal Home Loan Bank System at 100&#58; Focusing on the Future</a> report. Recognizing the importance of government-sponsored enterprises serving a clear public purpose, the report recommends clarifying the mission of the FHLBank System and updating how the Agency evaluates the FHLBanks’ achievement of that mission.</p><p>“The mission of the FHLBanks to provide liquidity and support housing and community development should be clearly articulated and reflect their role in the housing finance system,” said Director Sandra L. Thompson. “FHFA welcomes the public’s input on how best to achieve this clarity of purpose for the FHLBank System in future rulemakings.”</p><p>As FHFA considers potential rulemakings to strengthen the connection of the FHLBanks to their public purposes, the Agency is requesting input from the public on three categories of questions&#58;</p><ol class="FHFA-NumList"><li>Updating the regulatory statement of the FHLBank System’s mission to better reflect its appropriate role in the housing finance system;</li><li>Developing metrics and thresholds to evaluate mission achievement; and</li><li style="padding-bottom&#58;0px;margin-bottom&#58;0px;">Identifying how the FHLBanks could incorporate incentives for members with a strong and demonstrable connection to the FHLBank System’s mission.</li></ol>​ <p>FHFA invites interested parties to provide written input, feedback, and information on all aspects of this RFI by July 15, ​2024. Comments may be submitted via FHFA’s website (select “FHLBank Mission” from the menu) or mailed to the Federal Housing Finance Agency, Division of Bank Regulation, 400 7th Street, S.W., Washington, DC 20219.</p> ​<br>5/16/2024 6:00:28 PMHome / Media / FHFA Requests Input on FHLBank System Mission News Release “The mission of the FHLBanks to 1876https://www.fhfa.gov/Media/PublicAffairs/Pages/Forms/AllItems.aspxhtmlFalseaspx
FHFA Announces New Staffing Updates447925/10/2024 4:00:00 AMNews Release<p style="padding-top&#58;8px !important;"><strong>​​Washington, D.C. </strong>— Today, the Federal Housing Finance Agency (FHFA) announced two personnel updates. Luis Campudoni has been named Chief Information Officer, and Mary Peterman has been named Chief Financial Officer.<br></p><p><strong>Luis Campudoni</strong> has over 25 years of experience in information technology. He recently joined FHFA after spending 2 years as the Deputy Chief Information Officer at the Small Business Administration (SBA), where he led, executed, and oversaw the information technology products, services, and operations that supported the SBA's mission. Campudoni has also held senior leadership roles at the Department of Homeland Security, the Metropolitan Washington Council of Governments, the Federal Emergency Management Agency, and Customs and Border Protection. Campudoni holds master of science degrees in project management, organizational leadership, and information technology.<br> <br><strong>Mary Peterman</strong> is a certified public accountant and a certified government financial manager and has over 30 years of financial management experience. She recently joined FHFA after serving as the Controller/Deputy Director of the Division of Finance for the Federal Deposit Insurance Corporation (FDIC). Prior to FDIC, Peterman served in leadership positions for the Administrative Office of the U.S. Courts, the Department of Homeland Security, and various local government organizations. Peterman has also held leadership positions for the Association of Government Accountants, including serving as national president and national treasurer. Peterman holds a master's degree in public administration.<br></p>5/10/2024 4:00:36 PMHome / Media / FHFA Announces New Staffing Updates News Release Luis Campudoni has been named Chief 2192https://www.fhfa.gov/Media/PublicAffairs/Pages/Forms/AllItems.aspxhtmlFalseaspx
Agencies Issue Proposal on Incentive-Based Compensation439055/6/2024 4:00:00 AMNews Release​<span style="font-style&#58;normal;">​​​​​​</span> <hr style="line-height&#58;16px;font-size&#58;16px;" />​ <h4>​​Joint Release​​<br></h4><div><h4 style="font-style&#58;normal;font-variant&#58;normal;text-align&#58;right;">Federal Deposit Insurance Corporation<br></h4><h4 style="font-style&#58;normal;font-variant&#58;normal;text-align&#58;right;">Federal Housing Finance Agency</h4><h4 style="font-style&#58;normal;font-variant&#58;normal;text-align&#58;right;">National Credit Union Administration</h4><h4 style="font-style&#58;normal;font-variant&#58;normal;text-align&#58;right;">Office of the Comptroller of the Currency<br></h4><hr style="line-height&#58;16px;font-size&#58;16px;" /><p style="font-style&#58;normal;"> <span style="font-size&#58;inherit;font-family&#58;inherit;font-weight&#58;700 !important;"></span></p><p><strong><br></strong></p><p> <strong>Washington, D.C. </strong>— The Federal Deposit Insurance Corporation (FDIC), the Office of the Comptroller of the Currency (OCC), and the Federal Housing Finance Agency (FHFA), have adopted a Notice of Proposed Rulemaking (NPR) to address incentive-based compensation arrangements, as required under section 956 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (section 956). The National Credit Union Administration (NCUA) is expected to take action on the NPR in the near future. The U.S. Securities and Exchange Commission (SEC) has included a rulemaking to implement section 956 on its rulemaking agenda. This NPR is intended to advance stakeholder engagement needed to develop a final incentive-based compensation rule.&#160;&#160;<br></p><p>The NPR re-proposes the regulatory text previously proposed in June 2016, and seeks public comment in the preamble on certain alternatives and questions.<br></p><p>Section 956 requires the appropriate Federal regulators—the FDIC, the Board of Governors of the Federal Reserve System (FRB), the OCC, the NCUA, the FHFA, and the SEC—to jointly prescribe regulations or guidelines with respect to incentive-based compensation practices at certain financial institutions that have $1 billion or more in assets. Once the NPR is adopted by all six agencies, it will be published in the Federal Register with a comment period of 60 days following publication. Until then, each agency acting on the NPR will make it available on their respective website, and will accept comments.<br></p><p>The proposed rule includes prohibitions intended to make incentive-based compensation arrangements more sensitive to risk, such as a prohibition on incentive-based compensation arrangements that do not include risk adjustment of awards, deferral of payments, and forfeiture and clawback provisions. The prohibitions also emphasize the important role of sound governance and risk management control mechanisms. These prohibitions would help safeguard covered institutions from the types and features of incentive-based compensation arrangements that encourage inappropriate risks. The recordkeeping and disclosure requirements in the proposed regulatory text would assist the appropriate Federal regulator in monitoring and identifying areas of potential concern at covered institutions.<br></p><p>Comments received on this NPR and those previously submitted on the 2016 NPR will further inform efforts to address incentive-based compensation arrangements, as required under section 956.<br></p><p> <em></em><br></p><p> <a href="/SupervisionRegulation/Rules/Pages/Incentive-Based-Compensation-Arrangements-2024.aspx"> <strong class="ms-rteThemeFontFace-1" style="font-size&#58;13px;">Notice of Proposed Rulemaking on Incentive-Based Compensation (2024)​</strong></a>​<br></p><p> <strong class="ms-rteThemeFontFace-1 ms-rteFontSize-3"></strong></p><p style="border&#58;0px;font-stretch&#58;inherit;line-height&#58;22px;font-feature-settings&#58;inherit;vertical-align&#58;baseline;padding&#58;0px;color&#58;#000000;text-align&#58;center;background-color&#58;#ffffff;"></p> ​<br> </div>5/6/2024 4:45:37 PMHome / Media / Agencies Issue Proposal on Incentive-Based Compensation News Release 749https://www.fhfa.gov/Media/PublicAffairs/Pages/Forms/AllItems.aspxhtmlFalseaspx