Member Directors vs. Independent Directors
FHLBank Topeka’s board of directors is comprised of both Member Directors and Independent Directors, and the Director of the Federal Housing Finance Agency determines the size and composition of the board. Independent Directors must make up at least 40 percent of the board’s membership.
Member Directors: serve as an officer or director of a member that is located in FHLBank’s district.
Independent Directors: have knowledge of or experience in one or more of the following areas: auditing and accounting, derivatives, financial management, organizational management, project development, risk management practices and the law.
Public Interest Independent Directors: Each year, the board designates several Independent Directorships to serve as Public Interest Independent Directorships. Public Interest Independent Directors must additionally have more than four years of experience representing consumer or community interests in banking services, credit needs, housing or consumer financial protection. At all times, FHLBank will have at least two public interest independent directorships.
See Full Description of Director Eligibility 12 C.F.R. § 1261.5 >>>
See Full Director Qualification Requirements 12 C.F.R. § 1261.7(d)-(e) >>>