NY A05600

Prevents receivers from voiding transfers of money or property made under federal home loan bank security agreements in the ordinary course of business before insolvency proceedings, unless made with actual intent to defraud

Prohibits receivers from voiding redemption or repurchase of federal home loan bank stock made within four months of delinquency proceedings or with prior receiver approval

Requires federal home loan banks to establish within five days of a receiver's request a process for releasing excess collateral, paying fees, operating accounts, and redeeming stock

Exempts federal home loan banks from stays or injunctions that would prevent them from exercising rights or enforcing obligations under security agreements with insolvent insurer-members

Bars receivers from disavowing, rejecting, or repudiating security agreements, pledge agreements, or related arrangements to which a federal home loan bank is a party