THE WHITE HOUSE

                     Office of the Press Secretary
                     (Philadelphia, Pennsylvania)
________________________________________________________________________
For Immediate Release                                   October 29, 1999

              PRESIDENT CLINTON NAMES J. TIMOTHY O'NEILL AS 
               MEMBER OF THE FEDERAL HOUSING FINANCE BOARD

The President today announced his intent to nominate J. Timothy O'Neill to serve as Member of the Federal Housing Finance Board

Mr. J. Timothy O'Neill, of Virginia, has served on the Federal Housing Finance Board since June 1, 1995. Previously, he was a Partner in the Washington Law firm of O'Connor & Hannan. He has served as Director of Congressional Affairs for the Federal Housing Finance Board. He has also served as Legislative Manager for International Affairs for the US Department of Treasury, and was Deputy Director of Congressional Affairs for the US Agency for International Development.

Mr. O'Neill graduated magna cum laude form Georgetown University's school of Foreign Service and his J.D. from Harvard Law School.

The Federal Housing Finance Board was established by the Financial Institutions Reform, Recovery, and Enforcement Act as an independent agency of the executive branch with supervisory authority and oversight for the Federal Home Loan Bank system and its twelve District Banks. The Board of Directors is responsible for ensuring that the Federal Home Loan Banks operate in a financially sound manner, fulfills the housing finance mission, and remains adequately capitalized and able to raise funds in capital markets.

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