NY A04925

Prohibits a receiver from voiding transfers of money or property under federal home loan bank security agreements made in the ordinary course of business unless made with actual intent to defraud the insurer-member or its creditors.

Prohibits a receiver from voiding redemptions or repurchases of federal home loan bank stock made within four months of formal delinquency proceedings commencement or with prior receiver approval.

Requires federal home loan banks to provide a process within ten days of receiver request for releasing excess collateral, paying fees, operating accounts, and redeeming or repurchasing excess stock.

Permits federal home loan banks to offer options for renewing or restructuring advances to defer prepayment fees when requested by a receiver, subject to market conditions and federal regulations.

Prohibits federal home loan banks from being stayed, enjoined, or prohibited from exercising rights under security agreements, and prevents receivers from disavowing or rejecting federal home loan bank security agreements.