As ABA requested, the Federal Housing Finance Agency extended the deadline for comments on proposed changes to membership eligibility in the Federal Home Loan Bank system. Comments are now due on Jan. 12, 2015.
The FHFA’s proposed changes would require FHLB members to hold 1% of assets in home mortgage loans and require those subject to a 10% residential mortgage asset base to maintain that ratio on an ongoing basis. It would also revise insurer eligibility to exclude captive insurers.
Read the proposed rule.