; rules and regulations governing nominations and elections (1) Terms Except as provided in paragraph (2), the term of each Federal Home Loan Bank director shall be 4 years. (2) Adjustment of terms The Director shall adjust the terms of members from time to time as necessary to ensure that the terms of the members of the board of directors are staggered with approximately 1/4 of the terms expiring each year. (3) Term limits If any person has been elected to each of three consecutive full terms as a director of a Federal Home Loan Bank and has served for all or part of each of those terms, that person shall not be eligible for election to a directorship of that Bank for a term which begins earlier than two years after the expiration of the last expiring of the three terms. (4) Rules and regulations governing nominations and elections The Director is hereby authorized to prescribe such rules and regulations as the Director may deem necessary or appropriate for the nomination and election of directors of Federal Home Loan Banks, including, without limitation on the generality of the foregoing, rules and regulations with respect to the breaking of ties and with respect to the inclusion of more than one directorship on a single ballot and the methods of voting and of determining the results of voting in such cases. ; (6) in subsection (f), as so redesignated, by striking the first and second sentences; (7) in subsection (h), as so redesignated— (A) by striking home loan bank each place such term appears and inserting Home Loan Bank ; and (B) in paragraph (1), by striking such bank and the bank and inserting such Bank and the Bank , respectively; (8) in subsection (i)(1)— (A) by striking bank and inserting Bank ; and (B) by striking board and inserting Director ; (9) in subsection (j), by striking bank and inserting Bank