ACB: Press Releases

Contact:	Robert Schmermund (202) 857-3104 Jim Eberle (202) 857-3145	Jim Eberle (202) 857-3145 (work) (703) 893-2593 (home) [email protected]	For Immediate Release September 20, 2000 #00-107
E-mail: [email protected]

ACB WELCOMES FHFB’S DECISION TO EXTEND CAPITAL RULE COMMENT PERIOD

Press Release Tools
	E-mail This Press Release
	Printer-Friendly Format

WASHINGTON, D.C. — America’s Community Bankers today welcomed the Federal Housing Finance Board’s decision to extend the comment period for its rulemaking on the new capital structure for the Federal Home Loan Banks. The FHFB voted at its meeting Tuesday to extend the comment period to November 20. The deadline had been October 11.

“While ACB had originally asked for a longer extension than that granted by the FHFB, we are encouraged by the Finance Board’s decision to extend the comment period and to continue to seek input as it digests the comments that are received,” said Robert R. Davis, ACB’s managing director of government relations.

“ACB is also gratified that the Finance Board has confirmed the importance of many of the issues raised in ACB’s own analysis and at the FHLBank System Capital Roundtable sponsored by ACB and the Council of Federal Home Loan Banks 10 days ago,” said Davis. These issues include tradability of the FHLBank stock, total operating capital ratios and financial management of the stock.

“We look forward to continuing to work with the Finance Board, the FHLBanks and the Bank System’s 7,500 shareholders through November 20 and beyond,” Davis said. ACB represents shareholders holding half of the Bank System’s almost $30 billion in capital stock.

America’s Community Bankers is the national trade association committed to shaping the future of banking by being the innovative industry leader strengthening the competitive position of community banks. To learn more about ACB, visit www.AmericasCommunityBankers.com.

-30-