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Contact:
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Robert Schmermund
(202) 857-3104
Jim Eberle
(202) 857-3145
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Jim Eberle
(202) 857-3145 (work)
(703) 893-2593 (home)
[email protected]
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For Immediate Release
April 16, 2001
#01-28 |
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E-mail:
[email protected] |
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ACB URGES CHANGES IN FHFB CAPITAL RULE
Editors, Reporters:
America’s Community Bankers and a number of state trade associations have urged the Federal Housing Finance Board to make modest, but important, changes to its capital requirements for the Federal Home Loan Banks.
Responding to the FHFB’s request for suggestions on ways to improve the capital rule, ACB and 10 state organizations made two recommendations:
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FHLBank members should be
required to purchase activity based stock, including participation in such
activities as the mortgage partnership programs. The additional
capitalization required of these programs should not be borne by
non-participating FHLBank members, ACB said. The capital rule currently
recommends but does not require activity based stock purchases.
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To maintain commonality among
the 12 FHLBanks, the capital plans required of each Bank should be approved
on the merit of each plan and affinity of all plans, ACB said. The FHFB was
urged to adopt a review process in which no FHLBank capital plan is approved
until all plans have been submitted and are readily available for public
review, with a 30-day comment period.
Joining ACB in the comments are: the Community Bank League of New England, the Community Bankers Association of New York State, Iowa’s Community Bankers, the Michigan League of Community Banks, the Minnesota League of Savings & Community Bankers, the Missouri League of
Financial Institutions, the New Jersey League of Community & Savings
Bankers, the Ohio League of Financial Institutions, the Texas Savings &
Community Bankers Association and the Western League of Savings Associations.
The comment letter is ATTACHED.
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.
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