Federal Home Loan Banks Publish 2023 Impact Report
27 Junio 2024 - 1:33PM
The Council of Federal Home Loan Banks, the public voice of the
Federal Home Loan Bank System (FHLBank System), today released the
2023 Impact Report, which details the ways in which the FHLBank
System delivers measurable and sustainable impact for communities
and individuals across the country.
Highlights from the 2023 Impact Report:
- $355 million in statutory Affordable Housing Program (AHP)
assessments available for use in 2023.
- $180 million in voluntary funding contributions toward
affordable housing and economic development expensed in 2023.
- $752 million in AHP assessments in 2023, available for
deployment in 2024.
- 35,000+ housing units and families supported by AHP funding in
2023.
- 10,700+ first-time homebuyers supported by AHP funding in
2023.
- $3 million contributed by FHLBank Topeka to its new Native
American Housing Initiatives grant program.
- $220,000 donated by FHLBank New York to the Hispanic Federation
to install solar equipment in several fishing associations across
low-income coastal areas of Puerto Rico.
- $4.8 million awarded by FHLBank San Francisco through the
Nevada Targeted Fund to address affordable housing challenges in
that state, which tops the list of states with the highest
percentage of extremely low-income households that are severely
cost-burdened.
- $22 million letter of credit from FHLBank Cincinnati to member
Key Bank to help secure funding for the acquisition and
rehabilitation of two buildings that serve senior citizens who earn
at or below 50% of the area median income.
The report also contains more than 50 case studies and brief
testimonials reflecting the positive impact of FHLBank liquidity
and other services for families and local communities.
“Our core mission of providing reliable liquidity to members to
support housing finance is foundational to all that we do and sets
the stage for the unparalleled impact of our affordable housing and
community development activities,” said Ryan Donovan, President and
CEO of the Council of Federal Home Loan Banks. “We are very proud
of the work represented in this report and we expect to provide
approximately $1 billion in funding for these activities in 2024.
The FHLBank System continues to be one of the largest sources of
private funding for affordable housing in the United States.”
About: The FHLBanks are 11 regionally based,
wholesale suppliers of lendable funds to financial institutions of
all sizes and many types, including community banks, credit unions,
commercial and savings banks, insurance companies, and community
development financial institutions. The FHLBanks are cooperatively
owned by member financial institutions in all 50 states and U.S.
territories. The steady supply of lendable funds from FHLBanks
helps U.S. lenders invest in local needs including housing, jobs,
and economic growth. The Council of FHLBanks represents all 11
FHLBanks.
CONTACT INFORMATIONCouncil of FHLBanksPeter E.
Garuccio202-955-0002 ext. 14pgaruccio@cfhlb.org