The Federal Housing Finance Agency (FHFA) will conduct a review of the Federal Home Loan Bank System starting this fall.
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Federal home loan banks (FHLBanks) have been an important source of liquidity for their members for the past 90 years, particularly during times of market stress. They also support low-income housing and community development by offering various programs to their members, including the Affordable Housing Program, the Community Investment Program, and the Community Investment Cash Advance Program.
“FHFA plays a vital role in supporting affordable, equitable, and sustainable access to mortgage credit,” FHFA Director Sandra Thompson said. “FHFA’s regulated entities function as a reliable source of liquidity and funding for housing finance and community investment. As the Federal Home Loan Banks approach their centennial, FHFA will conduct a comprehensive review to ensure they remain positioned to meet the needs of today and tomorrow.”
FHFA will host two public listening sessions and a series of regional roundtable discussions as part of the review process. The listening session, called FHLBank System at 100: Focusing on the Future, will take place on Sept. 29 from 12:30 p.m. to 4:00 p.m. at the Constitution Center in Washington, DC, with the option to participate virtually. Interested parties are invited to speak at or attend the event.
FHFA is interested in receiving feedback in six key areas: FHLBanks’ general mission and purpose in a changing marketplace; their organization, operational efficiency, and effectiveness; their role in promoting affordable, sustainable, equitable, and resilient housing and community investment; how they address the unique needs of rural and financially vulnerable communities; member products, services, and collateral requirements; and membership eligibility and requirements.
FHFA is also accepting written comments through Oct. 21 via its website or by mail at: Federal Housing Finance Agency, 400 7th Street, SW, Washington, DC 20024.