{"abstract":"The Federal Housing Finance Board (Finance Board) is amending the provisions of its regulations governing the selection and compensation of employees of the Federal Home Loan Banks (Banks) in order to streamline regulatory requirements and transfer specific functions currently performed by the Finance Board to the board of directors of each Bank. The final rule requires a Bank to obtain prior Finance Board approval of the appointment of a new President, but permits a Bank to reappoint an incumbent President without prior Finance Board approval. The final rule also gives the Banks broad authority to set Bank Presidents' salaries within established caps and authorizes the Banks to make incentive payments to their Presidents based on each Bank's performance and on fulfillment of its mission. The devolution of authority to the Banks is consistent with the goals of the Regulatory Reinvention Initiative of the National Performance Review.","action":"Final rule.","agencies":[{"raw_name":"FEDERAL HOUSING FINANCE BOARD","name":"Federal Housing Finance Board","id":175,"url":"https://www.federalregister.gov/agencies/federal-housing-finance-board","json_url":"https://www.federalregister.gov/api/v1/agencies/175","parent_id":null,"slug":"federal-housing-finance-board"}],"body_html_url":"https://www.federalregister.gov/documents/full_text/html/1997/01/02/96-33329.html","cfr_references":[{"chapter":null,"citation_url":null,"part":932,"title":12}],"citation":"62 FR 4","comment_url":null,"comments_close_on":null,"correction_of":null,"corrections":[],"dates":"January 2, 1997.","disposition_notes":null,"docket_ids":["No. 96-97"],"dockets":[],"document_number":"96-33329","effective_on":null,"end_page":10,"executive_order_notes":null,"executive_order_number":null,"full_text_xml_url":null,"html_url":"https://www.federalregister.gov/documents/1997/01/02/96-33329/selection-and-compensation-of-federal-home-loan-bank-employees","images":{},"images_metadata":{},"json_url":"https://www.federalregister.gov/api/v1/documents/96-33329?publication_date=1997-01-02","mods_url":"https://www.govinfo.gov/metadata/granule/FR-1997-01-02/96-33329/mods.xml","not_received_for_publication":null,"page_length":7,"page_views":{"count":45,"last_updated":"2026-10-23 14:15:06 -0400"},"pdf_url":"https://www.govinfo.gov/content/pkg/FR-1997-01-02/pdf/96-33329.pdf","presidential_document_number":null,"proclamation_number":null,"public_inspection_pdf_url":null,"publication_date":"1997-01-02","raw_text_url":"https://www.federalregister.gov/documents/full_text/text/1997/01/02/96-33329.txt","regulation_id_number_info":{},"regulation_id_numbers":[],"regulations_dot_gov_info":{"checked_regulationsdotgov_at":"2011-09-20T22:21:46Z"},"regulations_dot_gov_url":null,"significant":null,"signing_date":null,"start_page":4,"subtype":null,"title":"Selection and Compensation of Federal Home Loan Bank Employees","toc_doc":null,"toc_subject":null,"topics":[],"type":"Rule","volume":62}