FHFA Proposes Rule To Enable FHLB Mergers

Posted by Orb Staff on November 22, 2010 No Comments
Categories : Residential Mortgage

The Federal Housing Finance Agency (FHFA) has sent the Federal Register a proposed rule that would establish procedures to enable the Federal Home Loan Banks to voluntarily merge.Â

The Housing and Economic Recovery Act of 2008 amended the Federal Home Loan Bank Act to permit any bank to merge with another bank with the approval of its board of directors, its members, and the director of FHFA.

The proposed rule does not relate to any liquidation, reorganization, conservatorship, or receivership undertaken pursuant to the authority set forth in the Federal Housing Enterprises Financial Safety and Soundness Act of 1992, nor does it apply to any supervisory actions that the FHFA may take with respect to the Federal Home Loan Banks.

The link to the proposed rule is available online.

SOURCE: FHFA

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