80_FR_51015 80 FR 50853 - Federal Home Loan Bank Community Support Program-Opportunity To Comment on Members Subject To Review

80 FR 50853 - Federal Home Loan Bank Community Support Program-Opportunity To Comment on Members Subject To Review

FEDERAL HOUSING FINANCE AGENCY

Federal Register Volume 80, Issue 162 (August 21, 2015)

Page Range50853-50854
FR Document2015-20734

The Federal Housing Finance Agency (FHFA) is announcing that FHFA will review all applicable Federal Home Loan Bank (Bank) members in 2015 under FHFA's community support requirements regulation. This Notice invites the public to comment on the community support performance of individual members.

Federal Register, Volume 80 Issue 162 (Friday, August 21, 2015) 
[Federal Register Volume 80, Number 162 (Friday, August 21, 2015)]
[Notices]
[Pages 50853-50854]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2015-20734]


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FEDERAL HOUSING FINANCE AGENCY

[No. 2015-N-6]


Federal Home Loan Bank Community Support Program--Opportunity To 
Comment on Members Subject To Review

AGENCY: Federal Housing Finance Agency.

ACTION: Notice.

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SUMMARY: The Federal Housing Finance Agency (FHFA) is announcing that 
FHFA will review all applicable Federal Home Loan Bank (Bank) members 
in 2015 under FHFA's community support requirements regulation. This 
Notice invites the public to comment on the community support 
performance of individual members.

DATES: Public comments on individual Bank members' community support 
performance must be submitted to FHFA on or before December 31, 2015.

ADDRESSES: Comments on members' community support performance should be 
submitted to FHFA by electronic mail at 
[email protected] or by fax to 202-649-4130.

FOR FURTHER INFORMATION CONTACT: Melissa Allen, Principal Program 
Analyst, at [email protected] or 202-658-9266, Office 
of Housing and Community Investment, Division of Housing Mission and 
Goals, Federal Housing Finance Agency, Ninth Floor, 400 Seventh Street 
SW., Washington, DC 20024.

SUPPLEMENTARY INFORMATION:

I. Community Support Review

    Section 10(g)(1) of the Federal Home Loan Bank Act (Bank Act) 
requires FHFA to promulgate regulations establishing standards of 
community investment or service that Bank members must meet in order to 
maintain access to long-term Bank advances. See 12 U.S.C. 1430(g)(1). 
The regulations promulgated by FHFA must take into account factors such 
as the Bank member's performance under the Community Reinvestment Act 
of 1977 (CRA), 12 U.S.C. 2901 et seq., and the Bank member's record of 
lending to first-time homebuyers. See 12 U.S.C. 1430(g)(2). Pursuant to 
section 10(g) of the Bank Act, FHFA has promulgated a community support 
requirements regulation that establishes standards a Bank member must 
meet in order to maintain access to long-term advances, and establishes 
review criteria FHFA must apply in evaluating a member's community 
support performance. See 12 CFR part 1290. The regulation includes 
standards and criteria for the two statutory factors--members' CRA 
performance and members' record of lending to first-time homebuyers. 12 
CFR 1290.3. Only members subject to the CRA must meet the CRA standard. 
12 CFR 1290.3(b). All members subject to community support review, 
including those not subject to the CRA, must meet the first-time 
homebuyer standard. 12 CFR 1290.3(c). Members that have been certified 
as community development financial institutions (CDFIs) are deemed to 
be in compliance with the community support requirements and are not 
subject to periodic community support review, unless the CDFI member is 
also an insured depository institution or a CDFI credit union. 12 CFR 
1290.2(d). In addition, FHFA will not review an institution's community 
support performance until it has been a Bank member for at least one 
year. 12 CFR 1290.2(e).
    Under the regulation, as amended effective June 29, 2015, FHFA 
reviews all applicable members in 2015 and every two years afterwards. 
FHFA is currently in transition to this new schedule beginning in 2015, 
and has already reviewed the community support performance of a 
significant number of Bank members during the 2014-15 review cycle that 
FHFA conducted under the previous regulation. Consequently, during the 
balance of 2015, FHFA is reviewing the community support performance of 
applicable members that have not already submitted Community Support 
Statements during the 2014-15 cycle. 12 CFR 1290.2(b)(2).

II. Public Comments

    FHFA encourages the public to submit comments on the community 
support performance of Bank members, on or before December 31, 2015. 
Under the amended regulation, each Bank has notified its Advisory 
Council, nonprofit housing developers, community groups, and other 
interested parties in its district, and has posted a notice on its 
public Web site of the opportunity to submit comments on the community 
support programs and activities of Bank members, with the name and 
address of each member subject to community support review. 12 CFR 
1290.2(c)(1). In reviewing a member for community support compliance, 
FHFA will consider any public comments it has received concerning the 
member. 12 CFR 1290.2(c)(3). To ensure consideration by FHFA, comments 
concerning the community support performance of members being reviewed 
in 2015 must be submitted to FHFA, either by electronic mail to 
[email protected], or by fax to 202-649-4130, on or 
before December 31, 2015. 12 CFR 1290.2(c)(2).
    The names of applicable members currently subject to Community 
Support review can be found on the public Web sites for the individual 
Banks at:

Federal Home Loan Bank of Boston--District 1 (Connecticut, 
Massachusetts, New Hampshire, Rhode Island, Vermont) http://www.fhlbboston.com/communitydevelopment/programs/support_statements.jsp
Federal Home Loan Bank of New York--District 2 (New Jersey, New York, 
Puerto Rico) http://www.fhlbny.com/news-events/bulletins-memos/prior-bulletins-memos/2015/bulletin062915.aspx
Federal Home Loan Bank of Pittsburgh--District 3 (Delaware, 
Pennsylvania, West Virginia) http://

[[Page 50854]]

www.fhlb-pgh.com/community-support.html
Federal Home Loan Bank of Atlanta--District 4 (Alabama, District of 
Columbia, Florida, Georgia, Maryland, North Carolina, South Carolina, 
Virginia) http://corp.fhlbatl.com/fhlbank-atlanta-highlights/2015-community-support-review/
Federal Home Loan Bank of Cincinnati--District 5 (Kentucky, Ohio, 
Tennessee) https://web.fhlbcin.com/Documents/Community%20Support%20Public%20Notice%20Master.pdf
Federal Home Loan Bank of Indianapolis--District 6 (Indiana, Michigan) 
http://www.fhlbi.com/housing/documents/LettertoInterestedParties.pdf
Federal Home Loan Bank of Chicago--District 7 (Illinois, Wisconsin) 
http://www.fhlbc.com/ProductsandServices/CommunityInvestmentsandAffordableHousingPrograms/Pages/federal-home-loan-bank-chicago-community-support-statements.aspx
Federal Home Loan Bank of Des Moines--District 8 (Alaska, Guam, Hawaii, 
Idaho, Iowa, Minnesota, Missouri, Montana, North Dakota, Oregon, South 
Dakota, Utah, Washington, Wyoming) http://www.fhlbdm.com/homepage-news-feed/2015-community-support-statement/
Federal Home Loan Bank of Dallas--District 9 (Arkansas, Louisiana, 
Mississippi, New Mexico, Texas) https://www.fhlb.com/membership/Pages/Community-Support-Standards.aspx
Federal Home Loan Bank of Topeka--District 10 (Colorado, Kansas, 
Nebraska, Oklahoma) http://www.fhlbtopeka.com/s/index.cfm?aid=336
Federal Home Loan Bank of San Francisco--District 11 (Arizona, 
California, Nevada) http://www.fhlbsf.com/community/grant/community-support-review.aspx

    Dated: August 17, 2015.
Melvin L. Watt,
Director, Federal Housing Finance Agency.
[FR Doc. 2015-20734 Filed 8-20-15; 8:45 am]
 BILLING CODE 8070-01-P

Federal Register / Vol. 80, No. 162 / Friday, August 21, 2015 / Notices 50853 National Bank, Sevierville, Tennessee ADDRESSES: Comments on members’ Under the regulation, as amended (‘‘the Receiver’’) intends to terminate its community support performance should effective June 29, 2015, FHFA reviews receivership for said institution. The be submitted to FHFA by electronic all applicable members in 2015 and FDIC was appointed receiver of mail at every two years afterwards. FHFA is Mountain National Bank on June 7, hmgcommunitysupportprogram@ currently in transition to this new 2013. The liquidation of the fhfa.gov or by fax to 202–649–4130. schedule beginning in 2015, and has receivership assets has been completed. FOR FURTHER INFORMATION CONTACT: already reviewed the community To the extent permitted by available Melissa Allen, Principal Program support performance of a significant funds and in accordance with law, the Analyst, at hmgcommunity number of Bank members during the Receiver will be making a final dividend supportprogram@fhfa.gov or 202–658– 2014–15 review cycle that FHFA payment to proven creditors. 9266, Office of Housing and Community conducted under the previous Based upon the foregoing, the Investment, Division of Housing regulation. Consequently, during the Receiver has determined that the Mission and Goals, Federal Housing balance of 2015, FHFA is reviewing the continued existence of the receivership Finance Agency, Ninth Floor, 400 community support performance of will serve no useful purpose. Seventh Street SW., Washington, DC applicable members that have not Consequently, notice is given that the 20024. already submitted Community Support receivership shall be terminated, to be Statements during the 2014–15 cycle. 12 SUPPLEMENTARY INFORMATION: effective no sooner than thirty days after CFR 1290.2(b)(2). the date of this Notice. If any person I. Community Support Review II. Public Comments wishes to comment concerning the Section 10(g)(1) of the Federal Home termination of the receivership, such FHFA encourages the public to Loan Bank Act (Bank Act) requires submit comments on the community comment must be made in writing and FHFA to promulgate regulations sent within thirty days of the date of support performance of Bank members, establishing standards of community on or before December 31, 2015. Under this Notice to: Federal Deposit investment or service that Bank Insurance Corporation, Division of the amended regulation, each Bank has members must meet in order to notified its Advisory Council, nonprofit Resolutions and Receiverships, maintain access to long-term Bank Attention: Receivership Oversight housing developers, community groups, advances. See 12 U.S.C. 1430(g)(1). The and other interested parties in its Department 32.1, 1601 Bryan Street, regulations promulgated by FHFA must district, and has posted a notice on its Dallas, TX 75201. take into account factors such as the public Web site of the opportunity to No comments concerning the Bank member’s performance under the submit comments on the community termination of this receivership will be Community Reinvestment Act of 1977 support programs and activities of Bank considered which are not sent within (CRA), 12 U.S.C. 2901 et seq., and the members, with the name and address of this time frame. Bank member’s record of lending to each member subject to community Dated: August 14, 2015. first-time homebuyers. See 12 U.S.C. support review. 12 CFR 1290.2(c)(1). In Federal Deposit Insurance Corporation. 1430(g)(2). Pursuant to section 10(g) of reviewing a member for community Valerie J. Best, the Bank Act, FHFA has promulgated a support compliance, FHFA will Assistant Executive Secretary. community support requirements consider any public comments it has regulation that establishes standards a received concerning the member. 12 [FR Doc. 2015–20627 Filed 8–20–15; 8:45 am] Bank member must meet in order to CFR 1290.2(c)(3). To ensure BILLING CODE 6714–01–P maintain access to long-term advances, consideration by FHFA, comments and establishes review criteria FHFA concerning the community support must apply in evaluating a member’s performance of members being reviewed FEDERAL HOUSING FINANCE community support performance. See in 2015 must be submitted to FHFA, AGENCY 12 CFR part 1290. The regulation either by electronic mail to includes standards and criteria for the hmgcommunitysupportprogram@ [No. 2015–N–6] two statutory factors—members’ CRA fhfa.gov, or by fax to 202–649–4130, on Federal Home Loan Bank Community performance and members’ record of or before December 31, 2015. 12 CFR Support Program—Opportunity To lending to first-time homebuyers. 12 1290.2(c)(2). Comment on Members Subject To CFR 1290.3. Only members subject to The names of applicable members Review the CRA must meet the CRA standard. currently subject to Community Support 12 CFR 1290.3(b). All members subject review can be found on the public Web AGENCY: Federal Housing Finance to community support review, including sites for the individual Banks at: Agency. those not subject to the CRA, must meet Federal Home Loan Bank of Boston— ACTION: Notice. the first-time homebuyer standard. 12 District 1 (Connecticut, CFR 1290.3(c). Members that have been Massachusetts, New Hampshire, SUMMARY: The Federal Housing Finance certified as community development Rhode Island, Vermont) http:// Agency (FHFA) is announcing that financial institutions (CDFIs) are www.fhlbboston.com/ FHFA will review all applicable Federal deemed to be in compliance with the communitydevelopment/programs/ Home Loan Bank (Bank) members in community support requirements and support_statements.jsp 2015 under FHFA’s community support are not subject to periodic community Federal Home Loan Bank of New York— requirements regulation. This Notice support review, unless the CDFI District 2 (New Jersey, New York, rmajette on DSK7SPTVN1PROD with NOTICES invites the public to comment on the member is also an insured depository Puerto Rico) http://www.fhlbny.com/ community support performance of institution or a CDFI credit union. 12 news-events/bulletins-memos/prior- individual members. CFR 1290.2(d). In addition, FHFA will bulletins-memos/2015/bulletin DATES: Public comments on individual not review an institution’s community 062915.aspx Bank members’ community support support performance until it has been a Federal Home Loan Bank of performance must be submitted to Bank member for at least one year. 12 Pittsburgh—District 3 (Delaware, FHFA on or before December 31, 2015. CFR 1290.2(e). Pennsylvania, West Virginia) http:// VerDate Sep<11>2014 15:07 Aug 20, 2015 Jkt 235001 PO 00000 Frm 00035 Fmt 4703 Sfmt 4703 E:\FR\FM\21AUN1.SGM 21AUN1

50854 Federal Register / Vol. 80, No. 162 / Friday, August 21, 2015 / Notices www.fhlb-pgh.com/community- Dated: August 17, 2015. 1. Heartland Bancorp, Inc., support.html Melvin L. Watt, Bloomington, Illinois; to acquire 100 Federal Home Loan Bank of Atlanta— Director, Federal Housing Finance Agency. percent of the voting shares of National District 4 (Alabama, District of [FR Doc. 2015–20734 Filed 8–20–15; 8:45 am] Bancorp, Inc., Schaumburg, Illinois, and Columbia, Florida, Georgia, Maryland, BILLING CODE 8070–01–P thereby indirectly acquire voting shares North Carolina, South Carolina, of American Midwest Bank, Sycamore, Virginia) http://corp.fhlbatl.com/ Illinois. fhlbank-atlanta-highlights/2015- FEDERAL RESERVE SYSTEM B. Federal Reserve Bank of Kansas community-support-review/ City (Dennis Denney, Assistant Vice Formations of, Acquisitions by, and President) 1 Memorial Drive, Kansas Federal Home Loan Bank of Mergers of Bank Holding Companies City, Missouri 64198–0001: Cincinnati—District 5 (Kentucky, Ohio, Tennessee) https:// 1. CFSB Holding Co., Broken Bow, The companies listed in this notice web.fhlbcin.com/Documents/ Nebraska; to become a bank holding have applied to the Board for approval, Community%20Support%20 company by acquiring 100 percent of pursuant to the Bank Holding Company Public%20Notice%20Master.pdf the voting shares of Custer Federal State Act of 1956 (12 U.S.C. 1841 et seq.) (BHC Act), Regulation Y (12 CFR part Bank, Broken Bow, Nebraska. Federal Home Loan Bank of Indianapolis—District 6 (Indiana, 225), and all other applicable statutes Board of Governors of the Federal Reserve and regulations to become a bank System, August 18, 2015. Michigan) http://www.fhlbi.com/ housing/documents/Letterto holding company and/or to acquire the Michael J. Lewandowski, InterestedParties.pdf assets or the ownership of, control of, or Associate Secretary of the Board. the power to vote shares of a bank or [FR Doc. 2015–20685 Filed 8–20–15; 8:45 am] Federal Home Loan Bank of Chicago— bank holding company and all of the BILLING CODE 6210–01–P District 7 (Illinois, Wisconsin) http:// banks and nonbanking companies www.fhlbc.com/ProductsandServices/ owned by the bank holding company, CommunityInvestmentsand including the companies listed below. AffordableHousingPrograms/Pages/ The applications listed below, as well federal-home-loan-bank-chicago- DEPARTMENT OF HEALTH AND as other related filings required by the HUMAN SERVICES community-support-statements.aspx Board, are available for immediate Federal Home Loan Bank of Des inspection at the Federal Reserve Bank Administration for Children and Moines—District 8 (Alaska, Guam, indicated. The applications will also be Families Hawaii, Idaho, Iowa, Minnesota, available for inspection at the offices of Missouri, Montana, North Dakota, the Board of Governors. Interested Submission for OMB Review; Oregon, South Dakota, Utah, persons may express their views in Comment Request Washington, Wyoming) http:// writing on the standards enumerated in www.fhlbdm.com/homepage-news- the BHC Act (12 U.S.C. 1842(c)). If the Title: Immediate Disaster Case feed/2015-community-support- proposal also involves the acquisition of Management (IDCM) Intake Assessment statement/ a nonbanking company, the review also OMB No.: 0970–NEW includes whether the acquisition of the Description: The Administration for Federal Home Loan Bank of Dallas— Children and Families (ACF) seeks to District 9 (Arkansas, Louisiana, nonbanking company complies with the standards in section 4 of the BHC Act collect information from disaster Mississippi, New Mexico, Texas) survivors following a Presidential https://www.fhlb.com/membership/ (12 U.S.C. 1843). Unless otherwise noted, nonbanking activities will be Declaration of a disaster where Pages/Community-Support- Individual Assistance is approved. The Standards.aspx conducted throughout the United States. Unless otherwise noted, comments information collection tool will Federal Home Loan Bank of Topeka— regarding each of these applications promote: 1) efficient collection of District 10 (Colorado, Kansas, must be received at the Reserve Bank information from disaster survivors, 2) Nebraska, Oklahoma) http://www.fhlb indicated or the offices of the Board of centralization of information and topeka.com/s/index.cfm?aid=336 Governors not later than September 17, resources to allow rapid connection to Federal Home Loan Bank of San 2015. resources, and 3) improvement in the Francisco—District 11 (Arizona, A. Federal Reserve Bank of Chicago collection and output of key metrics that California, Nevada) http:// (Colette A. Fried, Assistant Vice related to specific mission and disaster. www.fhlbsf.com/community/grant/ President) 230 South LaSalle Street, Respondents: Individuals who community-support-review.aspx Chicago, Illinois 60690–1414: voluntarily enroll in the IDCM program. ANNUAL BURDEN ESTIMATES Number of Number of Average burden hours per Instrument responses per Total burden hours respondents response respondent IDCM Intake Assessment ............... 3,500 1 40 Minutes 140,000 Minutes. rmajette on DSK7SPTVN1PROD with NOTICES Estimated Total Annual Burden Families, Office of Planning, Research of the information collection. Email Hours: 140,000 minutes and Evaluation, 370 L’Enfant address: infocollection@acf.hhs.gov. Additional Information: Promenade SW., Washington, DC 20447, OMB Comment: Copies of the proposed collection may Attn: ACF Reports Clearance Officer. All OMB is required to make a decision be obtained by writing to the requests should be identified by the title concerning the collection of information Administration for Children and between 30 and 60 days after VerDate Sep<11>2014 15:07 Aug 20, 2015 Jkt 235001 PO 00000 Frm 00036 Fmt 4703 Sfmt 4703 E:\FR\FM\21AUN1.SGM 21AUN1


Document Created: 2018-02-23 11:00:39
Document Modified: 2018-02-23 11:00:39
CategoryRegulatory Information
CollectionFederal Register
sudoc ClassAE 2.7:
GS 4.107:
AE 2.106:
PublisherOffice of the Federal Register, National Archives and Records Administration
SectionNotices
ActionNotice.
DatesPublic comments on individual Bank members' community support performance must be submitted to FHFA on or before December 31, 2015.
ContactMelissa Allen, Principal Program Analyst, at [email protected] or 202-658-9266, Office of Housing and Community Investment, Division of Housing Mission and Goals, Federal Housing Finance Agency, Ninth Floor, 400 Seventh Street SW., Washington, DC 20024.
FR Citation80 FR 50853 
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