Stephen Cross, Deputy Director of the Division of Federal
Home Loan Bank (FHLBank) Regulation of the Federal Housing Finance Agency
(FHFA) will retire from his post In March.
. Cross has served in that position since the agency was created in
October 2008 and simultaneously served as FHFA's Chief Operating Officer from
September 2009 to December 2011. He was
previously Director of the Office of Supervision of the Federal Housing
Finance Board, one of
predecessor agencies to FHFA.
In announcing the departure of Cross FHFA Acting Director
Edward J. DeMarco said, "Steve Cross has served a vital role at FHFA
a period of upheaval in the housing and
financial markets and
significant development and
change at FHFA," said DeMarco.
"We are grateful for
his oversight of many important
and positive developments at the FHLBanks
as they continue to strengthen their condition in the wake of the financial crisis, as
many other contributions
to this agency."
a privilege to
work with a dedicated group of
the FHFA," said Cross. "I am
humbled by the opportunities I
was provided, and I am
proud of the quality of our
supervision of the FHLBanks
during a period of challenge and change for
FHLBanks and the
system as a whole."
to oversee the completion
of the 2012 Bank examinations and assist in the search for his