Despite strong opposition from many, if not most, of the Federal Home Loan Banks, Federal Housing Finance Board Chairman John Korsmo last week predicted the FHLBanks would be registering their stock with the Securities and Exchange Commission under the Securities Exchange Act of 1934. But at the same time he distanced himself from the notion that the FHLBanks should register their debt offerings with the SEC as part of the Securities Act of 1933.