UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) January 22, 2007
FEDERAL HOME LOAN BANK OF SAN FRANCISCO
(Exact name of registrant as specified in its charter)
Federally chartered corporation |
| 000-51398 |
| 94-6000630 |
(State or other jurisdiction |
| (Commission File Number) |
| (IRS Employer |
600 California Street
San Francisco, CA 94108
(Address of principal executive offices, including zip code)
(415) 616-1000
(Registrant's telephone number, including area code)
Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Federal Home Loan Bank of San Francisco ("Bank") Director J. Benson Porter has informed the Bank of his resignation from the Bank's board, effective January 25, 2007.
On January 25, 2007, the board of directors of the Bank selected John F. Robinson to fill this seat on the board, effective immediately. Mr. Robinson is Executive Vice President of Washington Mutual Bank, Henderson, Nevada. Mr. Robinson will complete the term of Mr. Porter, which ends December 31, 2009. The Bank's board has appointed Mr. Robinson to the Audit Committee, as well as to all other committees of the board.
In accordance with Federal Housing Finance Board regulations, Mr. Robinson's compensation for service on the Bank's board is subject to the Bank's 2007 Board of Directors Compensation and Expense Reimbursement Policy as follows:
Director Meeting Fees - 2007 | ||
Type of Meeting | Position | Meeting Fees |
Board | Chairman | $4,000 |
Board | Vice Chairman | 3,000 |
Board | Director | 2,000 |
Board Committee or FHLBank | Director | 750* |
*Subject to an annual limit of $13,000 per director
Director Annual Compensation Limits - 2007 | |
Position | Annual Limit |
Chairman | $29,944 |
Vice Chairman | 23,955 |
Director | 17,967 |
In addition, the Bank reimburses directors for necessary and reasonable travel, subsistence, and other related expenses incurred in connection with the performance of their official duties.
The Bank issued a press release announcing the selection of Mr. Robinson. The press release is furnished as Exhibit 99.1 to this report. The information contained in Exhibit 99.1 shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liability of that section, and shall not be incorporated by reference into any registration statement or other document filed under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such filing.
Item 9.01 Financial Statements and Exhibits
(c) | Exhibits |
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| 99.1 | Press Release, dated January 26, 2007, issued by the Federal Home Loan Bank of San Francisco |
Signature(s)
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Federal Home Loan Bank of San Francisco | ||
Date: January 26, 2007 | By: /s/ Dean Schultz | |
Dean Schultz |
Exhibit Index
Exhibit No. | Description |
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99.1 | Press Release, dated January 26, 2007, issued by the Federal Home Loan Bank of San Francisco |
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