Financial Regulation: Review of Selected Operations of the Federal Housing Finance Board

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DIANE Publishing, 2001 - Business & Economics - 80 pages
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The Federal Home Loan Bank System faces additional risks due to the development of new products such as direct mortgage purchase programs. Responding to concern about the methods used for admin. decisionmaking, and the ability of the Fed. Housing Finance Board (FHFB) to fulfill its critical mission to regulate the safety and soundness of the System, the GAO was asked to: (1) compare the FHFB chair's admin. authorities with those of other financial regulators and discuss the basis for that authority; (2) assess FHFB's compliance with selected statutes and regulations. in connection with an Aug. 2002 reduction-in-force carried out as part of an agency reorganization; and (3) assess FHFB's progress in enhancing its FHLBank safety and soundness exam'n. program.

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Page 19 - In any reduction in personnel in any civilian service of any Federal agency, competing employees shall be released in accordance with Civil Service Commission regulations...
Page 62 - ... the ages of all individuals in the same job classification or organizational unit who are not eligible or selected for the program.
Page 56 - Act to promote employment of older persons based on their ability rather than age; to prohibit arbitrary age discrimination in employment; to help employers and workers find ways of meeting problems arising from the impact of age on employment.
Page 1 - Chairman The Honorable Paul S. Sarbanes Ranking Minority Member Committee on Banking, Housing, and Urban Affairs United States Senate The Honorable Michael G.
Page 62 - ... waiver is requested in connection with an exit incentive or other employment termination program offered to a group or class of employees, the employer (at the commencement of the...
Page 23 - ... met, the party asserting the validity of a waiver shall have the burden of proving in a court of competent jurisdiction that a waiver was knowing and voluntary pursuant to paragraph (1) or (2).
Page 1 - United States Senate The Honorable Michael G. Oxley Chairman The Honorable John J. LaFalce Ranking Minority Member Committee on Financial Services House of Representatives The Honorable Richard...
Page 57 - The summary plan description shall include the information described in subsection (b), shall be written in a manner calculated to be understood by the average plan participant...
Page 62 - The question of the existence of a "program" will be decided based upon the facts and circumstances of each case. A "program" exists when an employer offers additional consideration for the signing of a waiver pursuant to an exit incentive or other employment termination (eg, a reduction in force) to two or more employees.
Page 64 - ... Submission requirements. Applications for a Waiver or Approval and requests for a No-Action Letter or Regulatory Interpretation shall comply with the following requirements: (a) Filing. Each application or request shall be in writing. The original and three copies shall be filed with the Secretary to the Board, Federal Housing Finance Board, 1777 F Street NW.. Washington, DC 20006. (b) Authorization — (1) Waivers and Approvals.

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