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THE WHITE HOUSE

Office of the Press Secretary

For Immediate Release September 20, 1994

           PRESIDENT CLINTON NAMES J. TIMOTHY O'NEILL TO  THE 
                      FEDERAL HOUSING FINANCE BOARD

President Clinton today announced his intention to nominate J. Timothy O'Neill of Virginia as a member of the Federal Housing Finance Board. Mr. O'Neill is a partner in the Washington law firm of O'Connor and Hannan. He previously served as director of the Office of Congressional Affairs for the Federal Housing Finance Board. He also served as Senior Legislative Manager for International Affairs at the U.S. Department of the Treasury. Mr. O'Neill holds a bachelor's degree from Georgetown University's School of Foreign Service and a law degree from Harvard Law School.

The Federal Housing Finance Board provides low cost, long-term, fixed-rate capital to home mortgage lenders. The system is the second largest issuer of debt in the nation. The primary purpose of the board is to ensure that the Federal Home Loan Banks operate in a financially sound manner, fulfill their housing finance mission and remain adequately capitalized and able to raise funds in capital markets.

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