FHLBanks Urged to Let SEC Review Stock Forms

Federal Housing Finance Board Chairman Alicia Castaneda is urging Federal Home Loan Banks to take advantage of the Securities and Exchange Commission's unique offer to review draft registration forms for their stock."The time for purely hypothetical questions is past," Ms. Castaneda told the America's Community Bankers annual convention. "It is time to actually submit draft forms." The chairman also said the Finance Board is releasing guidance on registration issues in response to requests by industry groups. She told reporters that she has not seen a letter by four banking trade groups asking for a delay in SEC registration. However, she said the Finance Board has given the FHLBanks plenty of time to complete the registration.