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against the regional Federal Home Loan Banks.

Act and issues regulations and orders for carrying out the purposes of the provisions of that act. Savings associations, commercial banks, savings banks, credit unions, insurance companies, and other institutions specified in section 4 of the act that make long-term home-mortgage loans are eligible to become members of the Federal Home Loan Bank. The Finance Board supervises the Federal Home Loan Banks and ensures that they carry out their housing finance mission, remain adequately capitalized and able to raise funds in the capital markets, and operate in a safe and sound manner. The functions of the Finance Board include:

-prescribing rules and conditions under which the Banks may lend to members and eligible nonmembers;

-issuing policies governing the Bank System's financial management and investment activities;

-maintaining Bank System financial and membership data bases and preparing reports on a regular basis;

-overseeing the implementation of the community investment and affordable housing programs;

- conducting a biennial review of each member's community support performance;

-issuing consolidated Federal Home Loan Bank obligations which are joint and several obligations of all Federal Home Loan Banks;

-annually examining each Federal Home Loan Bank;

-requiring an independent financial audit of each Bank, the Office of Finance, the Financing Corporation, and the Bank System;

-appointing six directors to the board of directors of each Bank and conducting the election of the remaining directors by the members; and

-setting standards for the review and approval of applications for Bank membership.

The Finance Board is not subject to the appropriation process. Its funds are neither appropriated nor derived from Government funds, and are not subject to apportionment. The expenses of the Finance Board are paid by assessment

Regional Banks The System includes 12 regional Federal Home Loan Banks that are mixedownership Government corporations. A board of directors, six of whom are appointed by the Finance Board, manages the Banks. The Finance Board conducts the election of the remaining directors. Capital and Sources of Funds The Banks' principal source of capital is stock, which members are required by law to purchase upon joining the Bank System, and which is redeemed upon a member's withdrawal from the System. The Banks fund their lending activity through the issuance of Bank System consolidated obligations, which are the joint and several liability of all the Banks. Member deposits are an additional source of funds. Bank System consolidated debt is issued by the Finance Board through the Office of Finance, the Bank System's fiscal agent. The Banks' consolidated obligations are neither obligations of, nor guaranteed by, the United States. Operations The Banks' primary activity is extending secured loans (advances) to member institutions. Advances are generally collateralized by whole first mortgage loans and mortgage-backed securities, as well as other high-quality assets. In making advances, the Bank System serves as a source of short- and long-term funds for institutions operating in the mortgage markets as originators and holders of mortgage assets. Because the Bank System does not set standards for the loans its members make, members have the flexibility to develop responsive credit products and underwriting standards. The Banks also enter into hedging transactions as intermediaries with their members, which assists the members with their asset-liability management.

Under the Affordable Housing Program (AKP), the Banks provide subsidized advances or direct subsidies to Bank members engaged in lending for long-term owner-occupied and

member's Community Reinvestment Act performance and its lending to first-time homebuyers. The Banks provide technical assistance to their members in meeting the community support standards.

affordable rental housing targeted to households with very low, low, or moderate incomes. This competitive program is financed from a specified percentage of each Bank's previous year's net income. The greater of $100 million or 10 percent of the previous year's net income is available for the program.

Under the Community Investment Program (CIP), each Bank provides advances priced at the Bank's cost of consolidated obligations of comparable maturities plus reasonable administrative costs, to members engaged in community-oriented mortgage lending. Advances are used for loans to finance rental and owner-occupied housing for families whose incomes do not exceed 115 percent of area median income and commercial and economic development activities that benefit low- and moderateincome families or that are located in low- and moderate-income neighborhoods.

To maintain access to long-term advances, Bank members must establish reasonable commitments to residential lending and community support activities. Every 2 years, the Finance Board reviews the community support performance of each member by taking into account factors such as each

Financing Corporation The Financing Corporation (FICO) was established by the Competitive Equality Banking Act of 1987 (12 U.S.C. 1441) with the sole purpose of issuing and servicing bonds, the proceeds of which were used to fund thrift resolutions. The principal on the bonds was defeased with capital contributions from the Banks. The Corporation has a threemember directorate, consisting of the Managing Director of the Office of Finance and two Federal Home Loan Bank presidents.

The Financing Corporation operates subject to the regulatory authority of the Federal Housing Finance Board.

Sources of Information Requests for information relating to human resources and procurement should be sent to the Office of Resource Management, at the address listed below.

For further information, contact the Executive Secretariat, Federal Housing Finance Board, 1777 F Street NW., Washington, DC 20006. Phone, 202-408–2500. Fax, 202-408–2895.

607 Fourteenth Street NW., Washington, DC 20424-0001
Phone, 202-482-6550


Chief Counsel

Director of External Affairs Member

Chief Counsel Member

Chief Counsel Chief Administrative Law Judge Solicitor Executive Director


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The Federal Labor Relations Authority oversees the Federal service labormanagement relations program. It administers the law that protects the right of employees of the Federal Government to organize, bargain collectively, and participate through labor organizations of their own choosing in decisions affecting them. The Authority also ensures compliance with the statutory rights and obligations of Federal employees and the labor organizations that represent them in their dealings with Federal agencies.


The Federal Labor Relations Authority was created as an independent establishment by Reorganization Plan No. 2 of 1978 (5 U.S.C. app.), effective January 1, 1979, pursuant to Executive Order 12107 of December 28, 1978, to consolidate the central policymaking functions in Federal labor-management relations. Its duties and authority are specified in title VII (Federal Service Labor-Management Relations) of the Civil Service Reform Act of 1978 (5 U.S.C. 7101-7135).

The Authority provides leadership in establishing policies and guidance relating to the Federal service labormanagement relations program. In addition, it determines the appropriateness of bargaining units, supervises or conducts representation elections, and prescribes criteria and resolves issues relating to the granting of consultation rights to labor organizations with respect to internal agency policies and governmentwide rules and regulations. It also resolves negotiability

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disputes, unfair labor practice

procedures, including factfinding and complaints, and exceptions to arbitration recommendations, it considers awards. The Chair of the Authority appropriate. If the parties do not arrive at serves as the chief executive and

a settlement after assistance by the administrative officer.

Panel, the Panel may hold hearings and The General Counsel of the Authority

take whatever action is necessary to investigates alleged unfair labor

resolve the impasse. practices, files and prosecutes unfair labor practice complaints before the

The Foreign Service Labor Relations Authority, and exercises such other

Board and the Foreign Service Impasse powers as the Authority may prescribe.

Disputes Panel administer provisions of The Federal Service Impasses Panel,

chapter 2 of the Foreign Service Act of an entity within the Authority, is

1980 (22 U.S.C. 3921), concerning assigned the function of providing labor-management relations. This assistance in resolving negotiation chapter establishes a statutory laborimpasses between agencies and unions. management relations program for After investigating an impasse, the Panel Foreign Service employees of the U.S. can either recommend procedures to the Government. Administrative and staff parties for the resolution of the impasse support is provided by the Federal Labor or assist the parties in resolving the Relations Authority and the Federal impasse through whatever methods and

Service Impasses Panel.
Regional Offices Federal Labor Relations Authority
City Address


Telephone Adanta, GA (Suite 701, 285 Peachtree Ctr. Ave., 30303-1270)

Brenda M. Robinson

404 331-8212 Boston, MA (Suite 1500, 99 Summer St., 02110)

Edward S. Davidson

617-424 5730 Chicago, IL (Suite 1150, 55 W. Monroe, 6C303)

William E. Washington 312-363-6306 Dallas, TX (Suite 926, 525 Griffin St., 75202)

James Petrucci

214767-4996 Denver, CO (Suite 100, 1244 Speer Blvd., 80204)

Marjorie K. Thompson 303-8445224 San Francisco, CA (Suite 220, 901 Market St., 94103)

Gerald M. Cole

415–744 400 Washington, DC (Suite 400, 1255 22d St. NW., 20037)

Michael W. Doheny


Sources of Information
Employment Employment inquiries and
applications may be sent to the Director
of Personnel. Phone, 202-482-6660.
Public Information and Publications
The Authority will assist in arranging
reproduction of documents and ordering
transcripts of hearings. Requests for
publications should be submitted to the
Director, Information Resources and
Research Services. Phone, 202-482–
Reading Room Anyone desiring to
inspect formal case documents or read

agency publications may use facilities of
the Authority's offices.
Speakers To give agencies, labor
organizations, and other interested
persons a better understanding of the
Federal service labor-management
relations program and the Authority's
role and duties, its personnel participate
as speakers or panel members before
various groups. Requests for speakers or
panelists should be submitted to the
Office of the Chair (phone, 202-482-
6500); or to the Deputy General Counsel
(phone, 202–482-6680).

For further information, contact the Director of Information Resources and Research Services, Federal Labor Relations Authority, 607 Fourteenth Street NW., Washington, DC 20424-0001. Phone, 202-4826550.

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