Restrictions on Advances to Non-Qualified Thrift Lenders

Resumo

The Federal Housing Finance Board (Finance Board) is amending its regulations on advances to members that are not qualified thrift lenders. The amendments revise an interim rule and implement the Economic Growth and Regulatory Paperwork Reduction Act of 1996 (EGRPRA), which broadened the types of assets that may be used to satisfy the qualified thrift lender (QTL) requirement. The final rule includes a safe harbor for ``loans to small businesses'' (i.e., commercial loans of $1,000,000 or less or farm loans of $500,000 or less) and allows persons other than the chief executive officer (CEO) to certify the accuracy of certain QTL information. The final rule also changes the dates by which the Federal Home Loan Banks (Banks) must determine the QTL status of their members, which conforms the annual QTL determination to the date on which commercial loan data become available.