The Federal Housing Finance Board is releasing for public comment a proposed Federal Home Loan Bank Rating System that’s intended to be more comprehensive and transparent than the current system – with an eye toward adoption and implementation by January 1, 2007. However, the proposed transparency would only go so far, as the ratings for individual FHLBanks would not be made public. Under the proposal, drafted by the Finance Board’s Office of Supervision, each FHLBank would be assigned a composite rating, on a scale of 1 to 4 (with...