THE WHITE HOUSE

Office of the Press Secretary

PRESIDENT CLINTON NAMES ALLAN I. MENDELOWITZ AS CHAIR AND MEMBER OF THE

BOARD OF DIRECTORS FOR THE FEDERAL HOUSING FINANCE BOARD

President Clinton today announced the recess appointment of Allan I. Mendelowitz to serve as the Chair and a member of the Board of Directors for the Federal Housing Finance Board. Mr. Mendelowitz was nominated to the United States Senate on June 16, 2000.

Mr. Allan I. Mendelowitz, of Middletown, Connecticut, has served as the Executive Director of the U.S. Trade Deficit Review Commission, a Congressionally appointed, bi-partisan panel, since October of 1999. From January 1999 to September 1999, he served as the Vice President of the Economic Strategy Institute, where he supervised the Institute's research on trade policy, international competitiveness, and telecommunications policy. From 1996 to 1998, he was Executive Vice President of the Export-Import Bank of the United States, the senior career official responsible for overseeing all Bank programs and operations. From 1981 to 1995, Mr. Mendelowitz had a distinguished career with the General Accounting Office (GAO) as the Managing Director for International Trade, Finance and Economic Competitiveness during which time he directed numerous studies of the nation's finance and economic development policies.

Mr. Mendelowitz received an A.B. from Columbia University, and M.A. and Ph.D. from Northwestern University.

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, fulfill the housing finance mission, and remain able to raise funds in capital markets.

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