Federal Home Loan Banks were handed the authority to approve system membership applications, under a rule finalized by the Federal Housing Finance Board.

The measure, approved July 3, is part of a larger effort by the finance board to farm out day-to-day management functions to the 12 district banks.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.