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Federal Home Loan Bank Capital Stock and Capital Plans

Open Date:
Open for comment 10/8/2014
Deadline:
All comments are due by 12/8/2014
Type:
Notice of Proposed Rulemaking
Number:
RIN-2590-AA71
Group:
 
FHLBanks
Document Number:
2014–23799
CFR:
12 CFR part 1277
CFR Description:
Federal Home Loan Bank Capital Requirements, Capital Stock and Capital Plans
Federal Register Publish Date:
View Document:
 
Contact Information:

​Julie Paller, Senior Financial Analyst, Julie.Paller@FHFA.gov, (202) 649-3201 (this is not a toll-free number), Division of Federal Home Loan Bank Regulation; or Thomas E. Joseph, Associate General Counsel, Thomas.Joseph@FHFA.gov, (202) 649-3076 (this is not a toll-free number), Office of General Counsel (OGC), Federal Housing Finance Agency, Constitution Center, 400 Seventh Street SW., Washington, DC 20024.  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 Additionally, the TDD 1-(800) number referenced in Rulemaking documents attached to this page is obsolete and the 7-1-1 number should be used.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 proposed rule would transfer existing parts 931 and 933 of the Federal Housing Finance Board (Finance Board) regulations, which address requirements for Federal Home Loan Bank (Bank) capital stock and capital plans, to new Part 1277 of the Federal Housing Finance Agency (FHFA) regulations. The proposed rule would not make any substantive changes to these requirements, but would delete certain provisions that applied only to the one-time conversion of Bank stock to the new capital structure required by the Gramm-Leach-Bliley Act (GLB Act). It would also make certain clarifying changes so that the rules would more precisely reflect long-standing practices and requirements with regard to transactions in Bank stock. Most significantly, the proposed rule would add appropriate references to ‘‘former members’’ to clarify when former Bank members can be required to maintain investment in Bank capital stock after withdrawal from the Bank.

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