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FHLB Chicago stock redemption request denied

Fri Apr 25, 2008 11:27am EDT

NEW YORK, April 25 (Reuters) - The regulator of the Federal Home Loan Bank of Chicago has denied requests by shareholders that have terminated their memberships in the institution to redeem their stock, the FHLB said in a regulatory filing on Friday.

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The Federal Housing Finance Board, which ensures the safety and soundness of the entire Federal Home Loan Bank system, in October reserved the right to approve stock redemptions based on capital adequacy, which has been under pressure. (Reporting by Al Yoon; Editing by Leslie Adler)

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