The primary way that FHLBs
provide funding is through loans, or as the FHLBs
refer to them, "advances." These advances are collateralized by the borrowing institutions' residential loans and mortgage-backed securities.
Some of the difference in behavior between the foreign and domestic banks in their borrowing may be driven by the fact that the domestic banks are able to get funds from domestic deposits and from cash advances directly from the FHLBs
. However, when we observe the total holdings of foreign-related institutions, we see their total asset growth has been driven mostly by their cash assets.
* The merger of two FHLBs
will be the first in the FHLB
For example, banks' borrowing from the Federal Home Loan Bank (FHLB
) system grew just 3 percent, on net, after adjusting for a money center bank's assumption of the advances of a large failed thrift.
Table 1 presents the relative sizes (in terms of total assets) and numbers of members for each of the 12 FHLBs
as of December 31, 2007.
branches and agencies of foreign banks) and those from others (including Federal Reserve Bank and FHLB
We will work to ensure that any congressional push to revamp the regulatory structure of Fannie Mae, Freddie Mac, and the FHLBs
would preserve their vital housing mission while strengthening and safeguarding their financial health.
Expansion of the FHLBs
' mortgage programs and the implementation of the AIRB approach of the Basel II capital requirements for large U.S.
System is a government-sponsored enterprise created by Congress to support residential housing finance.
As part of a larger research project that aims to contribute to the debate over the role of the Federal Home Loan Banks in the political economy, this article focuses on the question of how leaders within the FHLBs
view their institutions' purposes in light of legislative changes to their mandates in 1989 and 1999, and considers the implications of those views for the FHLBs
' behavior and governance structures.
(24.) The authors evaluate three structures: (1) purchases by mortgage credit institutions, such as the Federal National Mortgage Association (FNMA) in the United States; (2) loans to depository institutions by mortgage credit institutions, such as the Federal Home Loan Banks (FHLBs
) in the United States; and (3) mortgage securitization, through purchase and sale through a mortgage credit institution (MCI), such as FNMA in the United States.
The Federal Home Loan Banks (FHLBs
) also direct housing credit to under-served households and areas.
Chapter 2 provides a brief history of the Federal Home Loan Bank System (FHLBS
AllRegs was first introduced in 1989 and is used by virtually all of the top-100 lenders as well as throughout numerous governmental agencies, including Fannie Mae, Freddie Mac, FHA, the Department of Veterans Affairs (VA), the Federal Home Loan Banks (FHLBs
), Ginnie Mae and others.
The other FHLBs
in the MPF program are Boston, Chicago, Dallas, Des Moines, New York, Pittsburgh, San Francisco, Seattle and Topeka.