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Federal Home Loan Bank Elective Directors

Publication Details
Type
Final Rule
Document Number
E6-11306
Federal Register Publish Date
07/12/2006
Federal Register Citation
71 FR 40643
PDF Format
Comment Open Date
04/18/2006
Comment End Date
06/02/2006
Comment Status
Closed
Effective Date
07/18/2006
Rulemaking Details
Rulemaking

Federal Home Loan Bank Elective Directors

Contact Information

FOR FURTHER INFORMATION CONTACT: ​John P. Kennedy, General Counsel, (202) 408-2983, kennedyj@fhfb.gov; or Thomas P. Jennings, Senior Attorney Advisor, Office of General Counsel, (202) 408-2553, jenningst@fhfb.gov. You can send mail to the Federal Housing Finance Board, 1625 Eye Street, NW., Washington, DC 20006.

Summary

SUMMARY: The Federal Housing Finance Board (Finance Board) is amending its rules relating to the election of Federal Home Loan Bank (Bank) directors to allow each Bank greater latitude in providing members information about the range of skills and experience among board members the Bank believes is best suited to administer its affairs. The final rule is intended to enhance the corporate governance of each Bank by allowing a Bank to provide to its members, during the election process, information about the expertise the Bank has identified as appropriate to enhance the board of directors in providing overall board management of the Bank. The final rule also revises and reorganizes the prohibitions on actions during the election process.

DATES: Effective Date: The final rule is effective July 18, 2006.