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FHFA | RIN: 2590-AA71 | Publication ID: Spring 2015 |
Title: Federal Home Loan Bank Capital Stock and Capital Plans | |
Abstract:
This rule re-locates and re-adopts certain existing Federal Housing Finance Board rules that address Bank capital stock and capital plans. These rules were originally adopted to implement requirements in the Gramm-Leach-Bliley Act (GLB Act) that each Bank issue new forms of capital stock, subject to the minimum requirements in the GLB Act, and that each Bank develop a capital plan that established the rights, terms and preference for the new stock and the requirements for each Bank member's minimum investment in Bank stock. In addition to relocating these regulations, the rule makes certain technical changes to remove provisions that only address the Banks' now-completed, initial conversion to the GLB Act capital structure, and to clarify provisions that address when a Bank can require former Bank members to continue to hold Bank stock. The rule also codifies in the relocated regulations existing procedures concerning a Bank's submission for FHFA approval of amendments to a capital plan. |
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Agency: Federal Housing Finance Agency(FHFA) | Priority: Substantive, Nonsignificant |
RIN Status: Previously published in the Unified Agenda | Agenda Stage of Rulemaking: Completed Actions |
Major: No | Unfunded Mandates: No |
CFR Citation: 12 CFR 931 12 CFR 933 12 CFR 1277 | |
Legal Authority: 12 U.S.C. 1426 12 U.S.C. 4513 12 U.S.C. 4526 |
Legal Deadline:
None |
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Timetable:
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Regulatory Flexibility Analysis Required: No | Government Levels Affected: None |
Small Entities Affected: No | Federalism: No |
Included in the Regulatory Plan: No | |
RIN Information URL: www.regulations.gov; www.fhfa.gov | Public Comment URL: www.regulations.gov; www.fhfa.gov |
RIN Data Printed in the FR: No | |
Agency Contact: Thomas E. Joseph Senior Attorney Advisor Federal Housing Finance Agency 400 Seventh Street SW., Washington, DC 20219 Phone:202 649-3076 TDD Phone:800 877-8339 Email: thomas.joseph@fhfa.gov |