Federal Register / Vol. 90, No. 9 / Wednesday, January 15, 2025 / Notices 3865 

1See 12 U.S.C. 1424(a), 1430(a). 

2See 12 U.S.C. 1422(10)(A); 12 CFR 1263.1. 

3See 12 U.S.C. 1422(10)(B); 12 CFR 1263.1 

(defining the term ‘‘CFI asset cap’’). 

4See 89 FR 2225 (Jan. 12, 2024). 

FEDERAL HOUSING FINANCE 

AGENCY 

[No. 2025–N–2] 

Notice of Annual Adjustment of the 

Cap on Average Total Assets That 

Defines Community Financial 

Institutions 

AGENCY: Federal Housing Finance 

Agency. 

ACTION: Notice. 

SUMMARY: The Federal Housing Finance 

Agency (FHFA) has adjusted the cap on 

average total assets that is used in 

determining whether a Federal Home 

Loan Bank (Bank) member qualifies as 

a ‘‘community financial institution’’ 

(CFI) to $1,500,000,000, based on the 

annual percentage increase in the 

Consumer Price Index for all urban 

consumers (CPI–U), as published by the 

Department of Labor (DOL). This change 

is effective as of January 1, 2025. 

FOR FURTHER INFORMATION CONTACT: 

Janna Bruce, Senior Financial Analyst, 

Division of Federal Home Loan Bank 

Regulation, (202) 649–3202, 

Janna.Bruce@fhfa.gov; or RG Yamba, 

Honors Counsel, Office of General 

Counsel, (202) 649–3399, RG.Yamba@

fhfa.gov, (these are not toll-free 

numbers), Federal Housing Finance 

Agency, Constitution Center, 400 

Seventh Street SW, Washington, DC 

20219. For TTY/TRS users with hearing 

and speech disabilities, dial 711 and ask 

to be connected to any of the contact 

numbers above. 

SUPPLEMENTARY INFORMATION: 

I. Statutory and Regulatory Background 

The Federal Home Loan Bank Act 

(Bank Act) confers upon insured 

depository institutions that meet the 

statutory definition of a CFI certain 

advantages over non-CFI insured 

depository institutions in qualifying for 

Bank membership, and in the purposes 

for which they may receive long-term 

advances and the collateral they may 

pledge to secure advances.1 Section 

2(10)(A) of the Bank Act and § 1263.1 of 

FHFA’s regulations define a CFI as any 

Bank member the deposits of which are 

insured by the Federal Deposit 

Insurance Corporation and that has 

average total assets below the statutory 

cap.2 The Bank Act was amended in 

2008 to set the statutory cap at $1 

billion and to require FHFA to adjust 

the cap annually to reflect the 

percentage increase in the CPI–U, as 

published by the DOL.3 For 2024, FHFA 

set the CFI asset cap at $1,461,000,000, 

which reflected a 3.1 percent increase 

over 2023, based upon the increase in 

the CPI–U between 2022 and 2023.4

II. The CFI Asset Cap for 2025 

As of January 1, 2025, FHFA will 

increase the CFI asset cap to 

$1,500,000,000, which reflects a 2.7 

percent increase in the unadjusted CPI– 

U from November 2023 to November 

2024. Consistent with the practice of 

other Federal agencies required to 

calculate and make annual adjustments 

based on CPI–U changes, FHFA bases 

the annual adjustment to the CFI asset 

cap on the percentage increase in the 

CPI–U from November of the year prior 

to the preceding calendar year to 

November of the preceding calendar 

year. The November figures represent 

the most recent available data as of 

January 1st of the current calendar year. 

FHFA determined the new CFI asset cap 

by applying the percentage increase in 

the CPI–U to the unrounded amount for 

the preceding year and rounding to the 

nearest million, as has been FHFA’s 

practice for all previous adjustments. 

In calculating the CFI asset cap, FHFA 

uses CPI–U data that have not been 

seasonally adjusted (i.e., the data have 

not been adjusted to remove the 

estimated effect of price changes that 

normally occur at the same time and in 

about the same magnitude every year). 

The DOL encourages use of unadjusted 

CPI–U data in applying ‘‘escalation’’ 

provisions such as that governing the 

CFI asset cap, because the factors that 

are used to seasonally adjust the data 

are amended annually, and seasonally 

adjusted data that are published earlier 

are subject to revision for up to five 

years following their original release. 

Unadjusted data are not routinely 

subject to revision, and previously 

published unadjusted data are only 

corrected when significant calculation 

errors are discovered. 

Joshua R. Stallings, 

Deputy Director, Division of Federal Home 

Loan Bank Regulation, Federal Housing 

Finance Agency. 

[FR Doc. 2025–00720 Filed 1–14–25; 8:45 am] 

BILLING CODE 8070–01–P 

FEDERAL HOUSING FINANCE 

AGENCY 

[No. 2025–N–1] 

Proposed Collection; Comment 

Request 

AGENCY: Federal Housing Finance 

Agency. 

ACTION: 60-Day notice of submission of 

information collection for approval from 

the Office of Management and Budget. 

SUMMARY: In accordance with the 

requirements of the Paperwork 

Reduction Act of 1995 (PRA), the 

Federal Housing Finance Agency (FHFA 

or the Agency) is seeking public 

comments concerning an information 

collection called the ‘‘Minimum 

Requirements for Appraisal 

Management Companies,’’ which has 

been assigned control number 2590– 

0013 by the Office of Management and 

Budget (OMB). FHFA intends to submit 

the information collection to OMB for 

review and approval of a three-year 

extension of the control number, which 

is due to expire on March 31, 2025. 

DATES: Interested persons may submit 

comments on or before March 17, 2025. 

ADDRESSES: Submit comments to FHFA, 

identified by ‘‘Proposed Collection; 

Comment Request: Minimum 

Requirements for Appraisal 

Management Companies, (No. 2025–N– 

1)’’ by any of the following methods: 

• Agency Website: https://

www.fhfa.gov/regulation/federalregister?comments=open. 

• Federal eRulemaking Portal: 

https://www.regulations.gov. Follow the 

instructions for submitting comments. 

• Mail/Hand Delivery: Federal 

Housing Finance Agency, Fourth Floor, 

400 Seventh Street SW, Washington, DC 

20219, ATTENTION: Proposed 

Collection; Comment Request: 

‘‘Minimum Requirements for Appraisal 

Management Companies, (No. 2025–N– 

1).’’ Please note that all mail sent to 

FHFA via the U.S. Postal Service is 

routed through a national irradiation 

facility, a process that may delay 

delivery by approximately two weeks. 

For any time-sensitive correspondence, 

please plan accordingly. 

FHFA will post all public comments 

on the FHFA public website at http://

www.fhfa.gov, except as described 

below. Commenters should submit only 

information that the commenter wishes 

to make available publicly. FHFA may 

post only a single representative 

example of identical or substantially 

identical comments, and in such cases 

will generally identify the number of 

identical or substantially identical 


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