The Council of Federal Home Loan Banks submitted a comment letter to the Federal Housing Finance Agency (FHFA) underlining the System’s work to enhance home ownership and support affordable housing and economic development. The letter includes a number of testimonials of key stakeholders who benefit from their partnership with the FHLBanks.
Highlights from the letter focusing on how the FHLBanks play a central role in the United States’ financial system include:
- Providing members with liquidity support including serving as a shock absorber in times of crises, like the pandemic
- Operating with a regional structure that allows FHLBanks to give its 6,500 members the tailored financial services they need to provide communities with access to low-cost lending
- Supporting contributions to the Affordable Housing Program and other voluntary programs
- Evolving with the needs of their members and providing support for new processes and technologies, changes to accepted collateral, and progress on diversity, equity, and inclusion
As member needs evolve the FHLBanks look forward to working with FHFA to ensure the System remains able to provide the products and services they require to serve their local communities.
Read comment letter.
