This section of the FEDERAL REGISTER

contains regulatory documents having general

applicability and legal effect, most of which

are keyed to and codified in the Code of

Federal Regulations, which is published under

50 titles pursuant to 44 U.S.C. 1510.

The Code of Federal Regulations is sold by

the Superintendent of Documents. Prices of

new books are listed in the first FEDERAL

REGISTER issue of each week.

Rules and Regulations Federal Register

35117

Vol. 63, No. 124

Monday, June 29, 1998

DEPARTMENT OF JUSTICE

8 CFR Part 3

[EOIR No. 121P; AG Order No. 2162–98]

RIN 1125–AA23

Executive Office for Immigration

Review; Motion To Reopen:

Suspension of Deportation and

Cancellation of Removal; Corrections

AGENCY: Executive Office for

Immigration Review, Justice.

ACTION: Interim rule; Corrections.

SUMMARY: The Department of Justice

published in the Federal Register of

June 11, 1998 (63 FR 31890) a document

which amended the regulations of the

Executive Office for Immigration

Review by establishing a new procedure

for the filing and adjudication of

motions to reopen to apply for

suspension of deportation and

cancellation of removal pursuant to the

Nicaraguan Adjustment and Central

American Relief Act. That document,

which is an interim rule, contains

technical errors that are corrected in this

document.

EFFECTIVE DATES: June 29, 1998.

FOR FURTHER INFORMATION CONTACT:

Rosemary Hart, Senior Counsel, Office

of Legal Counsel, U.S. Department of

Justice, 950 Pennsylvania Avenue, NW.,

Washington, DC 20530, (202) 514–2027

(not a toll-free call).

SUPPLEMENTARY INFORMATION:

Need for Correction

As published in the Federal Register

on June 11, 1998 (63 FR 31890), the

interim rule amending part 3 of title 8,

Code of Federal Regulation contains

technical errors that are in need of

correction.

Correction of Publication

Accordingly, the publication on June

11, 1998 (63 FR 31890) of the interim

rule that was the subject of FR Doc. 98–

15588 is corrected as follows:

PART 3—EXECUTIVE OFFICE FOR

IMMIGRATION REVIEW

§ 3.43 [Corrected]

1. On page 31894, in the third

column, in § 3.43(b), the paragraph

designated as (b)(4)(iv)(c) is correctly

redesignated as paragraph (b)(4)(iv)(C).

2. On page 31895, in the first column,

in § 3.43, the paragraphs designated as

(c) and (d) are correctly redesignated as

paragraphs (d) and (e), respectively.

Rosemary Hart,

Federal Register Liaison Officer.

[FR Doc. 98–17108 Filed 6–26–98; 8:45 am]

BILLING CODE 4410–30–M

FEDERAL HOUSING FINANCE BOARD

12 CFR Parts 933 and 935

[No. 98–15]

[RIN 3069–AA69]

Eligibility for Membership and

Advances

AGENCY: Federal Housing Finance

Board.

ACTION: Final rule.

SUMMARY: The Federal Housing Finance

Board (Finance Board) is amending the

definitions in its membership and

advances regulations relating to

combination business or farm properties

on which a residence is located. For

institutions with total assets of

$500,000,000 or less, the amendments

eliminate the requirement that at least

50 percent of the value of such

properties be attributable to the

residential portion of the property, and

require instead that the residence

constitute an integral part of the

property. The amendments are intended

to assist smaller depository institutions,

particularly those located in rural areas,

that have combination farm or business

property loans in their portfolios, to

qualify for Federal Home Loan Bank

(FHLBank) membership and, once

admitted, to provide the collateral

necessary to obtain FHLBank advances.

For those institutions with assets in

excess of $500,000,000, the amendments

retain the existing 50 percent of value

requirement. The amendments also

allow loans that would satisfy the

statutory and regulatory requirements

under the Community Investment

Program, or under the community

investment cash advance provisions, of

the Federal Home Loan Bank Act (Bank

Act), to qualify for membership

eligibility purposes.

DATES: Effective July 29, 1998.

FOR FURTHER INFORMATION CONTACT: Julie

Paller, Senior Financial Analyst, Office

of Policy, (202) 408–2842; Neil R.

Crowley, Associate General Counsel,

(202) 408–2990, Sharon B. Like, Senior

Attorney-Adviser, (202) 408–2930,

Office of General Counsel; Federal

Housing Finance Board, 1777 F Street,

N.W., Washington D.C. 20006.

SUPPLEMENTARY INFORMATION:

I. FHLBank System and Finance Board

Roles and Responsibilities

Under the Bank Act, the Finance

Board is responsible for the supervision

and regulation of the 12 FHLBanks. See

12 U.S.C. 1422a(a), 1422b(a)(1).

Specifically, the Finance Board is

responsible for ensuring that the

FHLBanks operate in a financially safe

and sound manner and carry out their

housing finance and community

investment mission, and that they

remain adequately capitalized and able

to raise funds in the capital markets. See

id. section 1422a(a)(3). The Bank Act

also empowers the Finance Board to

promulgate and enforce such

regulations and orders as are necessary

from time to time to carry out the

provisions of the Bank Act, including

regulations on FHLBank membership

eligibility and advances collateral

requirements. See id. section

1422b(a)(1).

II. Current 50 Percent Test For Loans

Secured By Combination Property

Under the Membership and Advances

Regulations

The regulations of the Finance Board

allow certain types of mortgage loans to

be used in determining an institution’s

eligibility to become a FHLBank

member and its ability to borrow from

the FHLBank, after becoming a member.

As described below, loans secured by

combination properties can be used for

these purposes only if at least 50

percent of the total appraised value of

the combined property is attributable to

the residential portion of the property

(50 percent test). See 12 CFR