What US Federal Home Loan Bank Act (FHLB Act) - 12 USC 1421 - FHFA Oversight requires
The Federal Home Loan Bank Act establishes the 11-bank FHLB System, a government-sponsored enterprise providing secured advances (loans) to member institutions (commercial banks, savings institutions, credit unions, insurance companies) collateralised by eligible assets; FHLB members receive dividends and must purchase activity-based stock; 10% of net income goes to the Affordable Housing Program (AHP); regulated by the FHFA.
Pillar: Banking & Global Finance · Authority: Federal Housing Finance Agency (FHFA); 12 USC §§ 1421-1449 (Federal Home Loan Bank Act); FHFA Regulation 12 CFR Parts 1261-1278 · Version: 2024.1.0 · Last updated:
Primary source: https://www.govinfo.gov/link/uscode/12/1421
SHA-256 integrity: 81860f5422aa2cee3d3cb0f73799be0799c995e5ead42236b48dd6962c8e8cb1
Primary Citations — 5 traced to source
- § 1422 (membership); § 1426 (capital structure - Class A and B stock); § 1430 (advances to members); § 1430c (AHP - 10% net income set-aside) — § 1422 (membership); § 1426 (capital structure - Class A and B stock); § 1430 (advances to members); § 1430c (AHP - 10% net income set-aside)
- FHLB advance reliance and contingency liquidity planning expectations — FHLB advance reliance and contingency liquidity planning expectations
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