The Board of Directors of the Federal Housing Finance Board (Finance Board) today approved a request by the Federal Home Loan Bank of Seattle (Bank) to amend its previously approved capital structure plan (Plan).
The amendments effect two changes—increase the upper end of the existing range for the advances-based stock purchase requirement and expand the provision on transferability of excess capital stock to allow transfers between unaffiliated members of the Bank, in addition to the currently authorized transfers between affiliated members. The changes are intended to give the Bank greater flexibility in managing its capital position.
The Federal Housing Finance Board is a non-appropriated funds agency that assesses the Federal Home Loan Banks for the costs of its operations.