HOME LOAN BANK MEMBERSHIP: Proposal by the Federal Housing Finance Board to loosen membership restrictions on rural banks that do not hold enough housing-related assets to join the system under current rules. Expected to be published shortly. Comments due 30 days later.
RECOURSE: Proposal by the Federal Reserve Board and Office of the Comptroller of the Currency to adopt new capital requirements for recourse agreements and similar tools used to sell securitized assets. Under the plan, banks holding the riskiest part of a securitization would face higher capital requirements than those holding less risky sections. The Federal Deposit Insurance Corp. and Office of Thrift Supervision are expected to propose an identical plan shortly. Expected to be published shortly. Comments due 60 days later.