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NAFCU needs members' input by Dec. 1 on the Federal Housing Finance Agency's proposal to amend regulations governing Federal Home Loan Bank membership. Members' input will be used in formulating the association's official comment.

The proposed rule would require FHLB members and applicants to keep 1 percent of assets in home mortgage loans; it would require that members have at least 10 percent of assets in residential mortgage loans continually. The proposed rule would also require FHLBs to evaluate member compliance annually and to terminate membership after two consecutive years of noncompliance.

Comments are due to the FHFA Jan. 12. Questions in NAFCU's Regulatory Alert cover the proposal's expanded definition of "home mortgage loan," appealing the denial of FHLB membership applications, and whether eligibility requirements should apply just during application or continually throughout membership.