[Federal Register Volume 59, Number 214 (Monday, November 7, 1994)]
[Unknown Section]
[Page 0]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-27451]
[[Page Unknown]]
[Federal Register: November 7, 1994]
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FEDERAL HOUSING FINANCE BOARD
12 CFR Part 900
Hearings on the Federal Home Loan Bank (FHLBank) System and
Recommendations for FHLBank Legislation
AGENCY: Federal Housing Finance Board.
ACTION: Notice of public hearing and request for comment.
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SUMMARY: The Federal Housing Finance Board (Finance Board) is hereby
announcing a public hearing and requesting comment on the FHLBank
System's (System) contribution to housing and community lending, the
FHLBank System's potential for improving its support of community
lenders and recommendations for legislation to modernize the FHLBank
System.
DATES: The public hearing will be held on December 8 and December 9,
1994, beginning at 9 a.m. on both days. Written requests to participate
in the hearing must be received no later than November 16, 1994.
ADDRESSES: The hearing will be held at the Office of Thrift Supervision
Amphitheater, 1700 G Street NW, Washington, DC 20552. Send requests to
participate in the hearing, written statements of hearing participants,
or other written comments to Elaine L. Baker, Executive Secretariat,
Federal Housing Finance Board, 1777 F Street NW, Washington, DC 20006.
The submissions may be mailed, hand delivered or sent by facsimile
transmission to (202) 408-2895. Submissions must be received by 5 p.m.
on the day they are due in order to be considered received by the
Finance Board. Late filed, misaddressed, or misidentified submissions
may affect eligibility to participate in the hearing.
FOR FURTHER INFORMATION CONTACT: Kerrie Ann Sullivan, External Affairs
Specialist, (202) 408-2515, or K. Scott Baker, Manager, Congressional
Affairs, (202) 408-2980. Federal Housing Finance Board, 1777 F Street
NW, Washington, DC 20006.
SUPPLEMENTARY INFORMATION: Pursuant to a request by Nicolas P.
Retsinas, the Department of Housing and Urban Development Secretary's
Designee to the Finance Board, the 12 Federal Home Loan Banks conducted
public forums in August and September of 1994 to seek comment on three
topics: (1) The contribution of the System and its members to housing
and community development lending; (2) the capacity for the System to
support community lenders and community-based lending; and, (3)
appropriate System governance structure. Each FHLBank public forum
discussed several related questions:
(1) How can the System facilitate housing and community development
lending through the existing network of community-based lenders?
(2) How should the community development mission of the System be
defined with regard to the types of lending and collateral requirements
compatible with the safety and soundness requirements of the System?
(3) How is the changing membership base affecting the System?
(4) Building on the success of the Affordable Housing and the
Community Investment programs, how can we demonstrate the contribution
that member institutions make through the regular advances program.
(5) What type of System governance structure would enable the
System to better realize its public purpose potential, while ensuring
continued safety and soundness?
The Finance Board is interested in the views of System members,
community groups, trade associations, government sponsored enterprises,
federal and state agencies and others on the topics addressed in the 12
FHLBank forums. To assist interested persons in responding, summaries
of the sessions held by the FHLBanks will be made available prior to
the public hearing. Requests for this material may be made by writing
or calling (refer to the information listed in the ADDRESSES portion of
this notice). Most of these issues were also addressed in five reports
on the FHLBank System submitted to Congress pursuant to the Housing and
Community Development Act of 1992. Congressionally-mandated reports
were submitted by the Finance Board, the Department of Housing and
Urban Development, the General Accounting Office, the Congressional
Budget Office and a FHLBank Shareholder Study Committee.
Additionally, the Finance Board invites testimony regarding
potential FHLBank legislation. Specifically, the Finance Board welcomes
testimony on what should be contained in a comprehensive FHLBank
legislative package addressing the following four areas: (1) The
structure of FHLBank capital; (2) the statutory definition of the
FHLBank System's mission; (3) FHLBank membership and borrowing
requirements; and, (4) the appropriate structure of FHLBank System
regulation and governance.
On December 8, the Finance Board hearing will be directed at the
topics that were the subject of the FHLBank public forums and on the
issues to be addressed in legislation. On December 9, the Finance Board
will arrange panels on each of four specific legislative issue areas.
Witnesses should indicate a preference for either testifying during the
more general discussion on December 8 or identify a specific topic
panel on which they would like to participate on December 9.
Persons wishing to participate in these hearings should send a
written request to the address listed in the ADDRESSES portion of this
notice, to be received no later than November 16, 1994. A request to
participate in the hearing must include the following information:
(A) The name, title, address, business telephone and fax number of
the participant;
(B) The entity or entities that the participant will be
representing;
(C) An indication as to the witnesses' preference to testify on the
more general topics of December 8 or on one of the following specific
panels planned for December 9: (1) The structure of FHLBank capital;
(2) the statutory definition of the FHLBank's mission; (3) statutory
FHLBank membership and borrowing requirements; and, (4) the appropriate
structure of FHLBank regulation and governance.
Depending on the number of requests received, participants may be
limited in the length of their oral presentations. However, the Finance
Board will provide time at the end of the December 8 hearing for brief
general comments from the public. The Finance Board will notify
participants of the date and time scheduled for their presentation. In
establishing panels of participants for presentations, the Finance
Board reserves the right to limit the number of participants and to
select, at its discretion, those persons who may make oral
presentations if more requests are received for participation than may
be accommodated in the time available.
Participants will be required to submit written statements in
advance of the hearing date. These written statements should
incorporate the major points to be presented at the hearing and should
be accompanied by an executive summary of no more than three to five
pages. Written statements must be received no later than November 28,
1994, and should be sent to the address listed in the ADDRESSES portion
of this notice.
By the Federal Housing Finance Board.
Nicolas P. Retsinas,
HUD--Secretary Designee to the Board.
[FR Doc. 94-27451 Filed 11-4-94; 8:45 am]
BILLING CODE 6725-01-P
