The Federal Housing Finance Board has approved a final rule that requires the 12 Federal Home Loan Banks to register their stock with the Securities and Exchange Commission.FHLBank member organizations had urged the Finance Board to delay action, but the board voted 4-0 to approve the final rule, which will require the individual FHLBanks to register with the SEC in time to file their second-quarter 2005 financial statements with the commission. The board members expressed confidence in an opinion by the board's general counsel that the agency has the legal authority to compel SEC registration and in a commitment by the SEC to issue no-action letters to the new registrants that will resolve many accounting and disclosure issues that are unique to the FHLBanks. Board members Franz Leichter and Allan Mendelowitz also praised Chairman Alicia Castaneda for her leadership on this issue. And they stressed that the board can delay registration if unexpected issues turn up. Meanwhile, America's Community Bankers is talking with its members to decide whether it the will carry out a threat and sue the Finance Board to stop SEC registration.
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In an interview, Candor Technology's Sara Knochel recounts how she applies her childhood interest in languages and numbers to crucial home lending issues.
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Harmonizing standards for liquidity coverage ratios and discount window pledges could prevent the type of strains that led to last year's bank failures, according to a new paper whose authors include former Federal Reserve Govs. Dan Tarullo and Jeremy Stein.
March 27 -
The report seeks to help banks "disrupt rapidly evolving AI-driven fraud," according to Treasury's Nellie Liang. The report found banks have difficulties accounting for AI risks.
March 27 -
The lender accused its former leader of compromising its Fannie Mae seller/servicer number to prevent it from delivering loans.
March 27 -
Equity is entitled to a little over $70,000 worth of damages.
March 27 -
Audited financials, proof of fidelity bonds and errors and omissions insurance must be provided on Ginnie Mae Central after May 13.
March 27