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Bill would align Oregon law with federal rules for Federal Home Loan Bank collateral
Summary
Supporters said Senate Bill 102 would harmonize state and federal law so Federal Home Loan Banks can exercise collateral rights over insurer-member collateral in delinquency proceedings, aiming to preserve lending capacity for insurers that support housing finance.
Rick Betzger, representing the Federal Home Loan Bank of Des Moines, told the House Committee on Commerce, Consumer Protection that Senate Bill 102 would “harmonize state and federal law when it comes to how collateral is treated for loans made to members from the Federal Home Loan Bank System.”
Betzger said the Federal Home Loan Bank (FHLB) System—created by Congress in 1932 and organized as a cooperative of 11 regional banks—must receive secured collateral for loans and…
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