The Federal Housing Finance Agency revealed the final rule on its revised regulations for members of the Federal Home Loan Bank Tuesday, omitting a proposal that garnered 1,300 comments during a public comment period.
The highly-contested proposal would have required Federal Home Loan Bank member financial institutions to maintain 10% of their assets in residential mortgages.
The FHFA said in a statement that based on its research, 98% of FHLBank members are currently in compliance with the proposed requirements. It concluded that the benefit of forcing the remaining 2% of current members to comply with the proposal would be outweighed by the burdens of the proposal.
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