Difference between revisions of "Federal Home Loan Banks"

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The Federal Home Loan Banks (FHLB) are a system of 12 banks located in different areas of the United States that were originally created in 1932 to help [[bank]]s and other institutions after the effects of the depression. They offer below [[market]]-rate loans to members for long-term financing for housing and [[economic]] development that benefits low and moderate income families and neighborhoods. The federal home loan banks are privately [[capital]]ized, government-sponsored enterprises.<ref>{{cite web|url=http://www.fhlbc.com/fhlbc/about.shtml|name=About Us|org=FHLB Chicago|date=January 4, 2011}}</ref>
The Federal Home Loan Banks (FHLB) are a system of 12 banks located in different areas of the United States that were originally created in 1932 to help [[bank]]s and other institutions after the effects of the depression. They offer below [[market]]-rate [[loan]]s to members for long-term financing for housing and [[economic]] development that benefits low- and moderate- [[income]] families and neighborhoods. The federal home loan banks are privately [[capital]]ized, government-sponsored enterprises.<ref>{{cite web|url=http://www.fhlbc.com/fhlbc/about.shtml|name=About Us|org=FHLB Chicago|date=January 4, 2011}}</ref>


The FHLBs are located in Atlanta, Boston, Chicago, Cincinnati, Dallas, Des Moines, Indianapolis, New York, Pittsburgh, San Francisco, Seattle, and Topeka. Each bank serves a separate, non-overlapping district within the United States.
The FHLBs are located in Atlanta, Boston, Chicago, Cincinnati, Dallas, Des Moines, Indianapolis, New York, Pittsburgh, San Francisco, Seattle, and Topeka. Each bank serves a separate, non-overlapping district within the United States.
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The banks operate a Community Investment Program (CIP), which is is designed to be a catalyst for economic development because it supports projects that create and preserve jobs and help build infrastructure to support growth. Lenders have used CIP to fund owner-occupied and rental housing, construct roads, bridges, retail stores, sewage treatment plants and provide small business [[loan]]s.<ref>{{cite web|url=http://www.fhlbanks.com/programs_comminvest.htm|name=Community Investment Program|org=FHLBanks|date=January 4, 2011}}</ref>
The banks operate a Community Investment Program (CIP), which is is designed to be a catalyst for economic development because it supports projects that create and preserve jobs and help build infrastructure to support growth. Lenders have used CIP to fund owner-occupied and rental housing, construct roads, bridges, retail stores, sewage treatment plants and provide small business [[loan]]s.<ref>{{cite web|url=http://www.fhlbanks.com/programs_comminvest.htm|name=Community Investment Program|org=FHLBanks|date=January 4, 2011}}</ref>


Oversight for the federal home loan banks is provided by the [[Federal Housing Finance Agency]], created by congress in the Housing and Economic Recovery Act of 2008, ensuring that they operate safely, carry out their housing and community development finance mission, and remain adequately capitalized so they are able to raise funds in the [[capital market]]s.
Oversight for the federal home loan banks is provided by the [[Federal Housing Finance Agency]], created by congress in the Housing and Economic Recovery Act of 2008, ensuring that they operate safely, carry out their housing and community development finance mission, and remain adequately [[capitalize]]d so they are able to raise funds in the [[capital market]]s.


== References ==
== References ==
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