PlainBillCongress, translated.Legislation. Context. Public interest.Referred to the Subcommittee on Housing and Community Development.
Congressional Research Service
Version 00 · Introduced in House · Feb 24, 1993
Federal Home Loan Bank Modernization Act of 1993 - Amends the Federal Home Loan Bank Act to permit the withdrawal of any member from membership in a Federal Home Loan Bank. (Currently Federal savings and loan associations are precluded from doing so.) Replaces the minimum share subscription formula for Federal Home Loan Bank membership with a requirement based upon a subscriber's total assets (currently, aggregate unpaid loan principal). Repeals: (1) the 30 percent lending cap limitation on advances to members that are non-qualified thrift lenders; (2) the proscription against the acquisition of new advances from a Federal Home Loan Bank by a savings association lacking qualified thrift lender status; and (3) the minimum residential mortgage loan requirement for qualified thrift lender membership in the Federal Home Loan Bank system. Reduces from ten years to five years the waiting period before which a withdrawn member may resume membership. Modifies the formula for annual contributions by Federal Home Loan Banks to capitalize the Resolution Funding Corporation. Authorizes the Federal Home Loan Bank Board to impose assessments to make up for any deficiency resulting from such modification. Directs the Federal Housing Finance Board to study and report to the Congress on: (1) the feasibility of creating a class of affiliate members of the Federal Home Loan Banks for institutions that make long term home mortgage loans; and (2) the desirability of applying requirements to such members that differ from those currently applicable in specified areas to Federal Home Loan Bank members.
People & committees
Rep. Baker, Richard H. [R-LA-6] · R–LA
Legislative record
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Referred to the Subcommittee on Housing and Community Development.
Referred to the Subcommittee on Financial Institutions Supervision, Regulation and Deposit Insurance.
Referred to the House Committee on Banking, Finance + Urban Affrs.
Sponsor introductory remarks on measure. (CR E442)
Introduced in House
Introduced in House
Primary sources
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Source last updated: Aug 26, 2025. Consult Congress.gov for the current record.
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