Federal Register: October 2, 2009 (Volume 74, Number 190)
DOCID: fr02oc09-6 FR Doc E9-23821
FEDERAL HOUSING FINANCE BOARD
Federal Housing Finance Board
CFR Citation: 12 CFR Parts 985 and 989
RIN ID: RIN 2590-AA30
NOTICE: PROPOSED RULES
DOCID: fr02oc09-6
DOCUMENT ACTION: Notice of proposed rulemaking; extension of comment period.
SUBJECT CATEGORY:
Board of Directors of Federal Home Loan Bank System Office of Finance
DATES: Comments on the proposed regulation must be received on or before November 4, 2009. For additional information, see SUPPLEMENTARY INFORMATION.
DOCUMENT SUMMARY:
Governed by the Federal Housing Finance Agency's (FHFA) regulations, the Federal Home Loan Bank System's (System) Office of Finance (OF), issues debt (``consolidated obligations'') on which the Federal Home Loan Banks (Banks) are jointly and severally liable and publishes combined financial reports on the Banks. The OF is governed by a board of directors, the composition and functions of which are determined by FHFA's regulations. The FHFA's experience with the System and with the OF's combined financial reports during the recent period of market stress suggests that the OF and the System could benefit from a reconstituted and strengthened board. Consequently, the FHFA published a proposed regulation for comment on August 4, 2009, which was intended to achieve that end. The proposal had a comment period of 60 days, but the FHFA has decided to extend the comment period an additional 30 days.
SUMMARY:
Board of Directors of Federal Home Loan Bank System Office of Finance
SUPPLEMENTAL INFORMATION
On August 4, 2009, the FHFA published for comment in the Federal Register a proposed regulation to reconstitute and strengthen the board of directors of the OF. See 74 FR 38564 (August 4, 2009). The comment period for the proposed rule was originally to close on October 5, 2009, but the FHFA believes that allowing additional time for comments would benefit the agency. The comment period is, therefore, being extended an additional 30 days until November 4, 2009.
The FHFA invites comments on all aspects of the proposed regulation, and will adopt a final regulation with appropriate changes after taking all comments into consideration. Copies of all comments will be posted on the Internet Web site at https://www.fhfa.gov. In addition, copies of all comments received will be available for examination by the public on business days between the hours of 10 a.m. and 3 p.m., at the Federal Housing Finance Agency, Fourth Floor, 1700 G Street, NW., Washington, DC 20552. To make an appointment to inspect comments, please call the Office of General Counsel at 2024146924.
Dated: September 29, 2009.
Edward J. DeMarco,
Acting Director, Federal Housing Finance Agency.
[FR Doc. E923821 Filed 10109; 8:45 am]
BILLING CODE 807001P
FOR FURTHER INFORMATION CONTACT
Joseph A. McKenzie, 202-408-2845, Division of Federal Home Loan Bank Regulation, Federal Housing Finance Agency, 1625 Eye Street, NW., Washington, DC 20006; or Neil Crowley, Deputy General Counsel, 2023431316, or Thomas E. Joseph, Senior AttorneyAdvisor, 2024143095 (not tollfree numbers), Office of General Counsel, Federal Housing Finance Agency, Fourth Floor, 1700 G Street, NW., Washington, DC 20552. The telephone number for the Telecommunications Device for the Deaf is 8008778339.