Summary
On January 18, the Federal Housing Finance Board gave the 12 Federal Home Loan Banks around the country much more power to influence the appointment of public interest directors when it adopted a new interim rule regarding the selection of directors. The Finance Board, which is the regulator for the Federal Home Loan Banks, is asking the individual banks to propose two candidates for each open public interest directorship. In the past, the Finance Board appointed those directors based on nominations provided by the White House. This is really a big opportunity, commented Dick Swanson, president of the Federal Home Loan Bank of Des Moines, which has the opportunity to nominate 12 people for six open directorships.
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Extract
Home Loan Banks Seeking Directors
The Federal Housing Finance Board gave the 12 Federal Home Loan Banks around the country much more power to influence the appointment of public interest directors when it adopted a new interim rule on Jan. 18 regarding the selection of directors.
The Finance Board, which is the regulator for the Federal Home Loan Bank...See the full content of this document
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