81 FR 74739 - Indemnification Payments; Correction and Extension of Comment Period

FEDERAL HOUSING FINANCE AGENCY

Federal Register Volume 81, Issue 208 (October 27, 2016)

The Federal Housing Finance Agency (FHFA) is correcting the regulatory text, and extending the comment period for, the proposed rule published in the Federal Register on September 20, 2016, regarding Golden Parachute and Indemnification Payments. FHFA is taking this action to correct and to extend the comment period to allow interested persons additional time to submit comments on the proposed rule.

[Federal Register Volume 81, Number 208 (Thursday, October 27, 2016)]
[Proposed Rules]
[Page 74739]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-26028]



[[Page 74739]]

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FEDERAL HOUSING FINANCE AGENCY

12 CFR Part 1231

RIN 2590-AA68


Indemnification Payments; Correction and Extension of Comment 
Period

AGENCY: Federal Housing Finance Agency.

ACTION: Proposed rule; correction and extension of comment period.

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SUMMARY: The Federal Housing Finance Agency (FHFA) is correcting the 
regulatory text, and extending the comment period for, the proposed 
rule published in the Federal Register on September 20, 2016, regarding 
Golden Parachute and Indemnification Payments. FHFA is taking this 
action to correct and to extend the comment period to allow interested 
persons additional time to submit comments on the proposed rule.

DATES: The comment period for the proposed rule published September 20, 
2016, at 81 FR 64357, is extended. Comments should be received on or 
before December 21, 2016.

ADDRESSES: You may submit your comments, identified by Regulatory 
Information Number (RIN) 2590-AA68, by any of the following methods:
     Agency Web site: www.fhfa.gov/open-for-comment-or-input.
     Federal eRulemaking Portal: http://www.regulations.gov. 
Follow the instructions for submitting comments. If you submit your 
comment to the Federal eRulemaking Portal, please also send it by email 
to FHFA at [email protected] to ensure timely receipt by the agency. 
Please include Comments/RIN 2590-AA68 in the subject line of the 
message.
     Courier/Hand Delivery: The hand delivery address is: 
Alfred M. Pollard, General Counsel, Attention: Comments/RIN 2590-AA68, 
Federal Housing Finance Agency, 400 Seventh Street SW., Eighth Floor, 
Washington, DC 20219. Deliver the package to the Seventh Street 
entrance Guard Desk, First Floor, on business days between 9 a.m. to 5 
p.m.
     U.S. Mail, United Parcel Service, Federal Express or Other 
Mail Service: The mailing address for comments is: Alfred M. Pollard, 
General Counsel, Attention: Comments/RIN 2590-AA68, Federal Housing 
Finance Agency, 400 Seventh Street SW., Eighth Floor, Washington, DC 
20219.

FOR FURTHER INFORMATION CONTACT: Mark D. Laponsky, Deputy General 
Counsel, [email protected], (202) 649-3054 (not a toll-free 
number), Federal Housing Finance Center, Constitution Center, Eighth 
Floor, 400 Seventh Street SW., Washington, DC 20219. The telephone 
number for the Telecommunications Device for the Hearing Impaired is 
(800) 877-8339.

SUPPLEMENTARY INFORMATION: 

Comments

    FHFA invites comments on all aspects of the 2016 proposed 
rulemaking and will take all comments into consideration before issuing 
the final rule. Copies of all comments will be posted without change, 
including any personal information you provide, such as your name, 
address, email address, and telephone number, on the FHFA Web site at 
http://www.fhfa.gov. In addition, copies of all comments received will 
be available for examination by the public on business days between the 
hours of 10 a.m. and 3 p.m., at the Federal Housing Finance Agency, 
Constitution Center, Eighth Floor, 400 Seventh Street SW., Washington, 
DC 20219. To make an appointment to inspect comments, please call the 
Office of General Counsel at (202) 649-3804.

Background

    In the Federal Register on September 20, 2016 (81 FR 64357), FHFA 
published a proposed rule with a 60-day comment period to request 
comments on the proposal that would establish standards for identifying 
whether an indemnification payment by the Federal National Mortgage 
Association, the Federal Home Loan Mortgage Corporation, any of the 
Federal Home Loan Banks, or the Federal Home Loan Bank System's Office 
of Finance to an entity-affiliated party in connection with an 
administrative proceeding or civil action instituted by FHFA is 
prohibited or permissible. The proposed rule published an inadvertent 
clerical error in Sec.  1231.4. FHFA is correcting that error, to 
clarify, just as the proposed rule did (see fn 7 in the Supplementary 
Information Section, explaining FHFA's rationale), that September 20, 
2016, the date of that proposed rulemaking's publication, is the 
grandfathering date for individualized indemnification agreements, and 
is extending the comment period in order that the public may have a 
full 60 days to comment following this correction.

Correction

    In proposed rule FR Doc. 2016-22483, on page 64360, in the issue of 
September 20, 2016, in the right column, in paragraph (b)(3) of Sec.  
1231.4, should correctly read: ``Amounts due under an indemnification 
agreement entered into with a named entity-affiliated party on or prior 
to September 20, 2016.''

Extension of Comment Period

    The proposed rule requested that the public submit comments by 
November, 21, 2016. FHFA hereby extends the deadline for submitting 
comments by an additional 30 days, to December 21, 2016.

    Dated: October 21, 2016.
Melvin L. Watt,
Director, Federal Housing Finance Agency.
[FR Doc. 2016-26028 Filed 10-26-16; 8:45 am]
BILLING CODE 8070-01-P