On a tight vote, the Federal Housing Finance Board narrowly approved a request from the Federal Home Loan Bank of Seattle to modify its capital plan to make it more flexible and compatible with the plans of other FHLBanks. “As a consequence of being the first, Seattle was burdened with provisions not imposed on any other Bank,” FHFB Chairman John Korsmo said in defense of the Seattle application at the board’s October 9 meeting.