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FHFA RIN: 2590-AA38 Publication ID: Fall 2015 
Title: Federal Home Loan Bank Community Support Program - Administrative Amendments 
Abstract:

Section 10(g) of the Federal Home Loan Bank Act requires the Director of the Federal Housing Finance Agency (FHFA) to adopt regulations establishing standards of community investment or service for Federal Home Loan Bank (Bank) members to maintain continued access to long-term Bank advances. This final rule amends FHFA's community support regulation to streamline and simplify the administrative process requirements under the regulation. The amendments do not affect the substantive requirements of the regulation, which include FHFA review and assessment of applicable members of the Banks every two years, or change the criteria for determining member compliance with the community support standards and eligibility for access to long-term Bank advances. The amendments replaced the prior process of selecting one eighth of all applicable members for eight quarterly reviews by FHFA over a two-year review cycle, with a new process of FHFA reviewing all applicable members at the same time every two years.

 

 
Agency: Federal Housing Finance Agency(FHFA)  Priority: Other Significant 
RIN Status: Previously published in the Unified Agenda Agenda Stage of Rulemaking: Completed Actions 
Major: No  Unfunded Mandates: No 
CFR Citation: 12 CFR 1290   
Legal Authority: 12 U.S.C. 1430(g)    12 U.S.C. 4511    12 U.S.C. 4513   
Legal Deadline:  None
Timetable:
Action Date FR Cite
NPRM  11/10/2011  76 FR 70069   
NPRM Comment Period End  02/08/2012 
Final Rule  05/28/2015  80 FR 30336   
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:
Kevin Sheehan
Associate General Counsel
Federal Housing Finance Agency
400 Seventh Street SW,
Washington, DC 20219
Phone:202 649-3086
Email: kevin.sheehan@fhfa.gov

Sharon Like
Managing Associate General Counsel
Federal Housing Finance Agency
400 Seventh Street SW,
Washington, DC 20219
Phone:202 649-3057
Email: sharon.like@fhfa.gov