Bulletin No.: 2008-06
June 24, 2008

TO: STOCKHOLDERS

SUBJECT: Appointive Director Nominations

The Board of Directors (Board) of the Federal Home Loan Bank of Dallas (Bank) is now accepting applications for appointive directorships to serve on the Bank’s Board of Directors.  The Bank has two seats for such directorships that will become vacant at year end.

Pursuant to the Federal Housing Finance Board’s (FHFB) final rule on Federal Home Loan Bank Appointive Directors issued on March 27, 2007, the Board will be submitting to the FHFB a list of nominees that includes information, as provided by the nominee, regarding each individual’s eligibility and qualifications to serve as a Bank director.  We are encouraging members to seek out qualified candidates to serve on the Board.  The attached appointive director application form, which sets forth the statutory eligibility requirements, must be completed by all individuals who would like to be considered for appointive directorships.

The FHFB will use the information provided by the Bank (as set forth in the application form submitted by the nominee) to select qualified individuals based on the totality of their qualifications to serve on the Bank’s Board of Directors.  As requested in the application form, nominees are to respond to all applicable questions regarding financial literacy and experience in fields such as mortgage finance, capital markets, accounting, affordable housing, community and economic development, or legal and regulatory compliance.  In addition, applicants are asked to provide a copy of their resume that should include achievements or expertise not addressed elsewhere in the application, including things such as knowledge of interest rate derivatives, information technology, human resources or SEC compliance, experience in federal, state or local governments or agencies, public utilities or public infrastructures – or any other expertise the nominees would like the FHFB to consider. 

You will note that the statutory requirements as described in the application prohibit appointive directors from serving as an officer or director of any institution that is a member of the Federal Home Loan Bank of Dallas, and, with certain exceptions, from owning any shares or other financial interest in any member of the Bank or any company controlling a member.  A complete listing of the member institutions can be found on the Bank’s web site at fhlb.com.

In order to serve effectively on the Board, a director must be able to attend the meetings of the Board and committees on which the director serves, and to devote the time necessary to prepare for those meetings.  The Bank has seven regularly scheduled meetings each year, in addition to a limited number of special meetings.  Typically, the average amount of time to attend the regularly scheduled meetings (not including travel) is approximately 20 days each year.

In order to ensure consideration by the Board, applications must be sent to Brehan Chapman, Corporate Secretary, and received by August 4, 2008.  Applications can be sent to: P.O. Box 619026, Dallas, Texas 75261-9026, via overnight delivery service to: 8500 Freeport Parkway, Irving, Texas 75063 or faxed to 214.441.8888.

For more information please contact Brehan Chapman at 214.441.8459.

Thank you in advance for your interest in assisting the Board on this matter.

Sincerely,

Lee R. Gibson
Chairman of the Board

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