Federal Home Loan Bank Modernization Act of 1992

[AI summary unavailable — showing source text] Federal Home Loan Bank Modernization Act of 1992 - Amends the Federal Home Loan Bank Act to permit the withdrawal of any member from membership in a Federal Home Loan Bank. (Currently Federal savings and loan associations are precluded from doing so.) Repeals certain guidelines regarding advances granted to a non-qualified thrift lender and the minimum stock purchase requirements for membership in a Federal Home Loan Bank. Replaces the minimum share subscription formula for Federal Home Loan Bank membership with a requirement based upon a subscriber's total assets (currently, aggregate unpaid loan principal). Repeals: (1) the 30 percent lending cap limitation on advances to members that are non-qualified thrift lenders; (2) the proscription against the acquisition of new advances from a Federal Home Loan Bank by a savings association lacking qualified thrift lender status; and (3) the minimum residential mortgage loan requirement for qualified thrift lender membership in the Federal Home Loan Bank system. Reduces from ten years to five years the waiting period before which a withdrawn member may resume membership. Modifies the formula for annual contributions by Federal Home Loan B…