Proposed regulations for the Federal Home Loan Bank System could have some unintended negative effects on the banks and their members, bank and thrift trade groups cautioned in comments to the Federal Housing Finance Board.

The FHLBanks could see their safety and soundness "adversely affected" by portions of the proposed regulations, warned the Savings and Community Bankers of America. The Independent Bankers Association of America said its members could also be hurt by some of the provisions.

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