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Excess Stock Restrictions and Retained Earnings Requirements for the Federal Home Loan Banks

Publication Details
Type
Proposed Rulemaking
Document Number
E6-3689
Federal Register Publish Date
03/08/2006
Comment Open Date
03/08/2006
Comment End Date
07/13/2006
Comment Status
Closed
Rulemaking Details
Rulemaking

Excess Stock Restrictions and Retained Earnings Requirements for the Federal Home Loan Banks

Contact Information

FOR FURTHER INFORMATION CONTACT: ​Scott L. Smith, Associate Director, smiths@fhfb.gov or (202) 408-2991; Anthony Cornyn, Senior Advisor to the Director, cornyna@fhfb.gov or (202) 408-2522; Office of Supervision; or Thomas E. Joseph, Senior Attorney-Advisor, josepht@fhfb.gov or (202) 408-2512, Office of General Counsel. You can send regular mail to the Federal Housing Finance Board, 1625 Eye Street, NW., Washington, DC 20006.  (FHFB agency dissolved 7/30/2009).

Summary

SUMMARY: The Federal Housing Finance Board (Finance Board) is proposing to add to its regulations provisions that would limit the amount of excess stock that a Federal Home Loan Bank (Bank) can have outstanding and that would prescribe a minimum amount of retained earnings for each Bank. The proposed amendments also would prohibit a Bank from selling excess stock to its members or paying stock dividends, and restrict a Bank’s ability to pay dividends when its retained earnings are below the prescribed minimum.

DATES: The Finance Board will accept written comments on the proposed rule on or before July 13, 2006.

COMMENTS: Submit comments by any of the following methods:

  • E-mail: comments@fhfb.gov.
  • Fax: (202) 408-2580.
  • Mail/Hand Delivery: Federal Housing Finance Board, 1625 Eye Street, NW., Washington, DC 20006, Attention: Public Comments.
  • Federal eRulemaking Portal: http://www.regulations.gov. Follow the instructions for submitting comments. If you submit your comment to the Federal eRulemaking Portal, please also send it by e-mail to the Finance Board at comments@fhfb.gov to ensure timely receipt by the agency.

Include the following information in the subject line of your submission: Federal Housing Finance Board. Proposed Rule: Excess Stock Restrictions and Retained Earnings Requirements for the Federal Home Loan Banks. RIN Number 3069-AB30. Docket Number 2006-03.

We will post all public comments we receive without change, including any personal information you provide, such as your name and address, on the Finance Board Web site at http://www.fhfb.gov/Default.aspx?Page=93&Top=93 (Agency dissolved 7/30/2009).

Public Comments people-icon

Below are a compilation of public comments made on this publication.

1066 items
Date Sort ascending First Name Last Name Organization Comment
Candy Dunn Consumer Loan Officer, Bank of Benton View CommentView Comment Email: N/A
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Chris Phelps Perpetual Federal Savings Bank of Urbana View CommentView Comment Email: N/A
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Skip Numrich President, 1st National Bank View CommentView Comment Email: N/A
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Cecil McNally Goodwill Industries of Northern Michigan View CommentView Comment Email: N/A
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Diane Casey-Landry America's Community Bankers View CommentView Comment Email: N/A
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Jimmy Gaston Anaheim Supportive Housing for Senior Adults View CommentView Comment Email: N/A
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Elizabeth Pinault Wainwright Bank View CommentView Comment Email: N/A
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Diana L. Campbell Database and Operations Manager, Massachusetts Bankers Association View CommentView Comment Email: N/A
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David Silva HOME Ownership Made Easy View CommentView Comment Email: N/A
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Mary Lee Widener Neighborhood Housing Services of America View CommentView Comment Email: N/A
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Fran Wagstaff Mid-Peninsula Housing Management Coalition View CommentView Comment Email: N/A
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Christopher W. Scoville Wainwright Bank, View CommentView Comment Email: N/A
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Annie McPartlin Massachusetts Bankers Association View CommentView Comment Email: N/A
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Joe Grech South Carolina Federal Credit Union View CommentView Comment Email: N/A
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Cheryl Keenan San Diego Habitat for Humanity View CommentView Comment Email: N/A
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Gary L. Gordon National American Indian Housing Council View CommentView Comment Email: N/A
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Jon K. Skarin Massachusetts Bankers Association View CommentView Comment Email: N/A
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William J. Small First Federal Bank of the Midwest View CommentView Comment Email: N/A
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Donald V. Rhodes Heritage Bank View CommentView Comment Email: N/A
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Paul J. Williams Assisted Living Federation of America View CommentView Comment Email: N/A
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John B. Dicus Capitol Federal Savings View CommentView Comment Email: N/A
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Kathleen Jones Massachusetts Bankers Association View CommentView Comment Email: N/A
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Henri Saucy Wainwright Bank View CommentView Comment Email: N/A
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John A. Scaldara Jr. The Columbia Bank View CommentView Comment Email: N/A
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Helen Devore Waukazoo Friendship House Association of American Indians View CommentView Comment Email: N/A
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