FHFA proposes rule to improve FHLBank governance
The Federal Housing Finance Agency has issued proposed revisions to its regulations addressing boards of directors and overall corporate governance of the Federal Home Loan Banks (Banks) to update and clarify regulatory requirements on a variety of topics including:
- FHFA’s annual designation of Bank directorships
- Bank director eligibility and professional qualifications
- Nomination, election, and removal of Bank directors
- the conduct of System board and committee meetings
- conflicts of interest
- the respective responsibilities of System boards of directors and executive management
Written comments will be accepted for 90 days after publication of the rule in the Federal Register.