Determination of Appropriate Present-Value Factors Associated With Payments Made by the Federal Home Loan Banks to the Resolution Funding Corporation; Correction

---
identifier: "/us/fr/00-16543"
source: "fr"
legal_status: "authoritative_unofficial"
title: "Determination of Appropriate Present-Value Factors Associated With Payments Made by the Federal Home Loan Banks to the Resolution Funding Corporation; Correction"
title_number: 0
title_name: "Federal Register"
section_number: "00-16543"
section_name: "Determination of Appropriate Present-Value Factors Associated With Payments Made by the Federal Home Loan Banks to the Resolution Funding Corporation; Correction"
positive_law: false
currency: "2000-06-30"
last_updated: "2000-06-30"
format_version: "1.1.0"
generator: "[email protected]"
agency: "Federal Housing Finance Board"
document_number: "00-16543"
document_type: "rule"
publication_date: "2000-06-30"
agencies:
  - "Federal Housing Finance Board"
cfr_references:
  - "12 CFR Part 997"
rin: "3069-AA92"
fr_citation: "65 FR 40491"
fr_volume: 65
docket_ids:
  - "No. 2000-15"
effective_date: "2000-06-30"
fr_action: "Final rule; correction."
---


#  [Corrected]

**AGENCY:**

Federal Housing Finance Board.

**ACTION:**

Final rule; correction.

**SUMMARY:**

The Federal Housing Finance Board (Finance Board) published in the *Federal Register* of April 3, 2000, a final rule implementing provisions of the Gramm-Leach-Bliley Act (Gramm-Leach-Bliley) that changed the methodology for determining the amount of the payments to be made by the Federal Home Loan Banks (Banks) to the Resolution Funding Corporation (REFCORP). The final rule omitted a reference to the value of an annuity, as referenced in Gramm-Leach-Bliley, in one section of the rule. This document corrects that omission.

**EFFECTIVE DATES:**

Effective on June 30, 2000.

**FOR FURTHER INFORMATION CONTACT:**

Thomas E. Joseph, Attorney-Advisor, (202) 408-2512, *[email protected],* or by regular mail at the Federal Housing Finance Board, 1777 F Street, N.W., Washington, D.C. 20006. A telecommunication device for deaf persons (TDD) is available at (202) 408-2579.

**SUPPLEMENTARY INFORMATION:**

**Need for Correction**

In FR Doc. 00-8116, published in the *Federal Register* on April 3, 2000 (65 FR 17435), the Finance Board added new  part 997 to its regulations to implement provisions of Gramm-Leach-Bliley, Pub. L. No. 106-102, 113 Stat. 1338, 1455-56 (Nov. 12, 1999) related to adjustments in the end-date for the statutorily required annual payments made by the Banks to REFCORP. In § 997.5 of this new part, the annual value of the annuity referenced in section 607 of Gramm-Leach-Bliley was inadvertently omitted. To avoid any confusion as to the meaning of the rule, this correction adds the relevant value to the final rule.

**Correction of Publication**

**12 CFR Part 997**

For the reasons set forth above, the Finance Board hereby corrects FR Doc. 00-8116, published in the *Federal Register* on April 3, 2000 (65 FR 17435) as follows.

§ 997.5

1. On page 17438, in the third column, add to § 997.5, paragraph (a), line 8, the phrase “of $300 million per year” after the word “annuity.”

By the Board of Directors of the Federal Housing Finance Board.

Dated: June 22, 2000.

Bruce A. Morrison,

Chairman.