th] anniversary of the Affordable Housing Program (#AHP25) but, with these awards, the Federal Home Loan Bank
of Chicago has now invested in more than 100,000 housing units.
We believe that it is fully appropriate to confine the benefits of thrift status, involving both access to subsidized long-term borrowing from Federal Home Loan Banks
and tax benefits, to only those institutions that devote a major part of their assets to promoting homeownership.
In a period when many local communities are struggling against high unemployment and a weak economy, Federal Home Loan Banks
continue to serve as an essential component of the financial system by keeping capital and credit flowing to where it's needed most," said John von Seggern, president and CEO of the Council of Federal Home Loan Banks
, a Washington-based trade association.
The 2014 AHP awards will assist in the acquisition, rehabilitation, and new construction of nearly 1,700 affordable housing units," said Suzi Thackston, Community Investment Officer, Federal Home Loan Bank
These institutions are the member-owners who make the Federal Home Loan Banks
an engine for economic stability.
The Federal Home Loan Banks
are a system of regional banks from which local lending institutions in the U.
Since 1990, the Federal Home Loan Bank
of Chicago has taken great pleasure in awarding more than $242 million in competitive AHP grants and more than $68 million in DPP funds that have helped provide housing for families whose incomes are 80% or less of the area median income.
Such factors may include, but are not limited to, demand for advances, business and capital plan adjustments and amendments, changes in the bank's management and Board of Directors, regulatory actions or approvals, competitive pressure from other Federal Home Loan Banks
and alternative funding sources, accounting adjustments or requirements, interest-rate volatility, the bank's ability to maintain adequate capital levels, changes in projected business volumes, our ability to appropriately manage our cost of funds, changes in our membership profile or the withdrawal of one or more large members, the cost-effectiveness of our funding, hedging and asset-liability management activities, shifts in demand for our products and consolidated obligations, and general economic conditions.
We are delighted to be accepted as a Federal Home Loan Bank
of Boston member," Skala said.
Levin, chairman of the board of directors of the Federal Home Loan Bank
of New York (FHLBNY) announced today the election of Alfred A.
SEATTLE -- The Board of Directors of the Federal Home Loan Bank
of Seattle (Seattle Bank) has declared a cash dividend of $2.
BECOMES FEDERAL HOME LOAN BANK
OF PITTSBURGH STOCKHOLDER