2590-AB36 202404 Unified Agenda of Federal Regulatory and Deregulatory Actions 2590 Federal Housing Finance Agency FHFA Federal Home Loan Bank Community Investment Cash Advance Programs

The Federal Home Loan Bank Act requires that each Federal Home Loan Bank establish a Community Investment Program (CIP) for community-oriented mortgage lending (12 U.S.C. 1430(i)), and authorizes the Federal Home Loan Banks to establish other community investment cash advance (CICA) programs (12 U.S.C. 1430(j)(10)). The CICA regulation, 12 CFR part 1292, implements the CIP mandate and establishes parameters for the other CICA programs, under which a Federal Home Loan Bank may provide long-term advances and grants for economic development projects that benefit certain targeted beneficiaries. The rule would propose streamlining and reorganizing the CICA regulation to facilitate ease of use by the Federal Home Loan Banks and their members and housing associates. It would also update the requirements - including but not limited to the CICA-eligible identified targeted beneficiaries - to better reflect current market conditions and economic development programs and assist beneficiaries in need of targeted community lending. 

]]> Other Significant Previously Published in The Unified Agenda Long-Term Actions Undetermined No 12 CFR 1292 12 U.S.C. 1430 12 U.S.C. 4511(b)(2) No NPRM To Be Determined No No None No No www.fhfa.gov; www.regulations.gov www.fhfa.gov; www.regulations.gov No No Ted Wartell Associate Director, Office of Housing and Community Investment, DHMG 2590 Federal Housing Finance Agency FHFA 202 649-3157 ted.wartell@fhfa.gov 400 Seventh Street SW, Washington DC 20219 Carey Whitehead Assistant General Counsel 2590 Federal Housing Finance Agency FHFA 202 649-3630 carey.whitehead@fhfa.gov 400 Seventh Street SW, Washington DC 20219