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A Win on Asset Test for FHLB Membership

Posted on 1/13/2016

The Federal Housing Finance Agency yesterday issued its final rule changing eligibility for membership in the Federal Home Loan Bank system. In a win for ABA and the state bankers associations, the FHFA did not include in the rule a controversial provision requiring all FHLB members to hold at least 1 percent of assets in home mortgage loans and larger members to have at least 10 percent of assets in residential mortgage loans on an ongoing basis.

"We are pleased that FHFA listened to the more than 1,300 comment letters from ABA, state associations and banks opposing this provision," said ABA President and CEO Rob Nichols. "There was no demonstrable need for the proposed changes, which contradicted congressional intent and would have harmed the FHLBs, their member banks and the communities they serve."

To read the final rule visit: https://www.fhfa.gov/SupervisionRegulation/Rules/RuleDocuments/Membership%20Final%20Rule%20to%20Fed%20Reg.pdf



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