Nine of the 11 Federal Home Loan Banks saw their profits jump in the first quarter. Only the FHLBanks of Dallas and Cincinnati experienced declining net income. (Includes three data charts.)
Low interest rates and excess liquidity drove down demand for FHLBank advances and ate into profits during the early part of the year (Includes three data charts.)
The Federal Home Loan Banks ended the year with combined annual profits of $2.79 billion, down 12.5% from 2019. FHLBanks of Indianapolis, Chica-go and Topeka increased earnings from the third to fourth quarter. (Includes data chart.)