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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.

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.

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
Peggy Hutchison Primavera Foundation View CommentView Comment Email: N/A
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Mary Eble North Bay Housing Coalition View CommentView Comment Email: N/A
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Steve Nogle First Federal Lakewood View CommentView Comment Email: N/A
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W. Moorhead Vermilye The Talbot Bank View CommentView Comment Email: N/A
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Randell Grubbs Harrison Building and Loan Association View CommentView Comment Email: N/A
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Russell Carothers Federal Home Loan Bank of Atlanta and The Chitizens Bank of Winfield View CommentView Comment Email: N/A
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Christie L. Gillespie Indiana Association for Community Economic Development View CommentView Comment Email: N/A
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American Bankers Association State Bankers Associations; View CommentView Comment Email: N/A
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Alejandro Martinez East LA Community Corporation View CommentView Comment Email: N/A
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David T. Shaw First Federal Lakewood View CommentView Comment Email: N/A
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A. O'Donovan Wainwright Bank View CommentView Comment Email: N/A
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Richard deStwolinkski Conference for Catholic Facility Management View CommentView Comment Email: N/A
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Robert Street American First Credit Union View CommentView Comment Email: N/A
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Tim E. Brown N/A View CommentView Comment Email: N/A
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Rev. Larry J. Snyder Catholic Charities USA View CommentView Comment Email: N/A
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William H. Lockert Normandie Nonprofit Housing, Inc. View CommentView Comment Email: N/A
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David T. Shaw First Federal Lakewood View CommentView Comment Email: N/A
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Sylvia Bray Habitat for Humanity of Sonoma County Vew CommentView Comment Email: N/A
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Russell J. Lau Finance Factors, Ltd. View CommentView Comment Email: N/A
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Richard E. Hook IV Maryland Financial Bank View CommentView Comment Email: N/A
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Duane Hill Rural Communities Housing Development Corporation View CommentView Comment Email: N/A
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Douglas M. Kliene National Association of Housing Cooperatives View CommentView Comment Email: N/A
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Cesar Marenco YES Housing Inc. View CommentView Comment Email: N/A
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Al Carnahan Housing Authority of County of San Joaquin View CommentView Comment Email: N/A
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Gary R. Fix First Federal Lakewood View CommentView Comment Email: N/A
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