Federal Home Loan Bank Product Act

Bill: 114-hr-3453
Sponsor: full_name: Rep. Scott, David [D-GA-13]
Introduced: 2015-09-08
Policy area: Housing and Community Development
Subjects: Banking and financial institutions regulation

Commodities markets

Federal Housing Finance Agency

Housing finance and home ownership
Latest action: action_date: 2015-09-22
text: Referred to the Subcommittee on Commodity Exchanges, Energy, and Credit.

Summaries:
action_date: 2015-09-08
action_desc: Introduced in House
text: <p><b>Federal Home Loan Bank Product Act</b></p> <p>This bill amends the Commodity Exchange Act to make the Federal Housing Finance Agency the appropriate federal banking agency for any Federal Home Loan Bank (thereby exempting any Federal Home Loan Bank loan from regulation as a swap). </p> <p>The Legal Certainity for Bank Products Act of 2000 is amended to include as a bank any Federal Home Loan Bank.</p>

tv_txt: I 114th CONGRESS 1st Session H. R. 3453 IN THE HOUSE OF REPRESENTATIVES September 8, 2015 Mr. David Scott of Georgia (for himself and Mr. Lucas ) introduced the following bill; which was referred to the Committee on Agriculture A BILL To clarify the regulatory treatment of Federal Home Loan Bank products.

1. Short title This Act may be cited as the Federal Home Loan Bank Product Act . 2. Treatment of Federal home loan bank products (a) Section 1a(2) of the Commodity Exchange Act ( 7 U.S.C. 1a(2) ) is amended— (1) in subparagraph (B), by striking and ; (2) in subparagraph (C), by striking the period and inserting ; and ; and (3) by adding at the end the following: (D) is the Federal Housing Finance Agency for any Federal Home Loan Bank (as defined in section 2 of the Federal Home Loan Bank Act). . (b) Section 402(a) of the Legal Certainty for Bank Products Act of 2000 ( 7 U.S.C. 27(a) ) is amended— (1) by striking or at the end of paragraph (6); (2) by striking the period at the end of paragraph (7) and inserting ; or ; and (3) by adding at the end the following: (8) any Federal Home Loan Bank (as defined in section 2 of the Federal Home Loan Bank Act). .