Approval Letters, which were first issued in 1998, are written statements issued to a Federal Home Loan Bank or the Office of Finance approving a transaction, activity, or item that requires Federal Housing Finance Board approval under the Federal Home Loan Bank Act or a Finance Board rule, regulation, policy, or order.

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No-Action Letters, which were first issued in 1998, are written statements issued to a Federal Home Loan Bank or the Office of Finance providing that Federal Housing Finance Board staff will not recommend supervisory or other action to the Board of Directors for failure to comply with a specific provision of the Federal Home Loan Bank Act or a Finance Board rule, regulation, policy, or order, if the requester undertakes the proposed transaction or activity.

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Supervisory Actions, which were first issued in 2004, are formal enforcement actions brought by the Federal Housing Finance Board against a Federal Home Loan Bank for (a) an unsafe and unsound practice; (b) conduct that violates a law, order, rule, or regulation; or (c) a violation of a condition imposed in writing in connection with the granting of any application or other request by a Bank or any written agreement entered into by a Bank.  Supervisory actions include written agreements between the Finance Board and a Federal Home Loan Bank as well as final cease and desist orders, removal orders, or orders to pay civil money penalties.

Supervisory Actions are numbered in sequence with the prefix “SUP”, e.g., 2004-SUP-##.

To access Supervisory Actions, click here.