NEW: Rep Lisa McClain (R-MI), a member of GOP leadership, insists the slush fund is truly dead.
(Also here today: GOP members are not pushing back on use of term “slush fund”)
For over 90 years, FHLBs and community banks have joined forces to support Main Street and drive community growth. New research highlights that impact: https://t.co/WhX77KtlSf
On June 17th, I will host the Securities & Exchange Commission Chairman, the Secretary of HUD, and the Secretary of Treasury for our first Federal Housing Finance Oversight Board meeting. I look forward to a productive conversation!
I had a great week at Fannie and Freddie. Also, I met with the Presidents of the (11) Federal Home Loan Banks, which was great. They seem committed to restoring the banks to a business minded culture. I look forward to working with them to pump out Affordable Homes, and more!
Yesterday, Director Thompson sat down with the Council of Federal Home Loan Banks President & CEO Ryan Donovan to discuss the state of the FHLBank system, the FHLBank System at 100 report (https://t.co/t8DKStashu), and areas for continued growth.
The FHLBanks are proud to announce an expected $1B in support for affordable housing and community development initiatives in 2024. This commitment reinforces our position as a leading source of private funding for affordable housing in the United States. https://t.co/DE03xs3PF7
This is what I came up with
Ask me about any placement.
This of course is before free agency is done with, so I will do another one during spring training!
Housing continues to be a hot topic, and this week,we’ve got Teresa Bazemore, CEO of the #FHLB of San Francisco sharing her insights into affordability,house prices, and mortgage credit quality. Plus we’ll delve into the crucial role FHLBs
Listen here: https://t.co/ZrbsOw5ASi…
Does the Federal Home Loan Bank system increase instability in the financial system? Damien Moore, Jim Parrott, Martin Wurm and Mark Zandi explain how the FHLBs in fact stabilize the financial system in times of stress. #FHLB#banks#JimParrott#MarkZandi https://t.co/OkATcPrzAa
@FHLBanksVoice@RyanDonovan joins the podcast to discuss the Federal Home Loan Bank System and how credit unions can get involved. https://t.co/YLef4jYDqG
"This is where we need credit unions and other stakeholders to engage."
@FHLBanks on what credit unions need to know about FHFA’s review of the Federal Home Loan Bank System. https://t.co/6tC5ZimW7q
Council of Federal Home Loan Banks president @RyanDonovan argues that the “super lien” status of Home Loan bank advances, created in the 1980s, is largely irrelevant in today’s marketplace. Read it in @AmerBanker@BankThink. @FHLBanksVoice https://t.co/s949eQRWsG
Council of Federal Home Loan Banks president @RyanDonovan argues that the “super lien” status of Home Loan bank advances, created in the 1980s, is largely irrelevant in today’s marketplace. Read it in @AmerBanker@BankThink. @FHLBanksVoice https://t.co/uIhNrTHkg3
This is an important thread recognizing the stabilizing role #FHLBanks played in the most recent banking crisis and what they do every day to support their members - #banks, #creditunions, #insurancecompanies, and #cdfi.
The unsung hero of the banking crisis may be the Federal Home Loan Bank system, a little-known network of lending cooperatives established in the early days of the Great Depression to support the nation’s mortgage market and by extension the broader financial system.
#FHLBanks have acted on our liquidity mission in every operating environment since their creation more than 90 years ago, in calm markets and times of stress. We stand ready to continue to serve our members.
JUST IN: Federal Home Loan Bank System (FHLB) just said they issued $304 billion of debt since last week.
They issued a record $112 billion in debt in one day last week.
Most of these funds have gone directly to regional and community banks.
Liquidity is desperately needed.
for those interested in the future of the federal home loan bank system i'd encourage you to read this by @RyanDonovan from @FHLBanksVoice in the @AmerBanker
https://t.co/2Nmx2OB06H
The so-called implied guarantee is implied by the market, not the government. If it was implied by the government, it would be an explicit guarantee... but it's not. #FHLBforum23
There are several layers of protection between FHLBank activity and any hypothetical interaction with the taxpayer... advances are fully collateralized; then there is the member's paid in capital; the FHLBanks' income and retained earnings...