Most of the FHLBanks’ COVID-19 relief programs have been initiated at the district level, resulting in considerable variations in scale and generosity.

The Federal Home Loan Banks will accept Paycheck Protection Program loans as collateral. The loans carry a 100% SBA guarantee.

Banks and thrifts held $482.5 billion of advances from the Federal Home Loan Bank system in the fourth quarter of 2019, a 3.3% sequential drop. (Includes data chart.)

Borrowers are entitled to forbearance if unable to make their monthly mortgage payment due to the virus, the FHFA has reminded servicers.

Lawrence Parks, a former FHLB-SF executive, believes an FHLB plan to buy Freddie seems as plausible as other ideas that pass for GSE reform.

The FHLBank System’s net income was off 10.4% for the full year despite a 29.5% spike in the fourth quarter. The bulk of that decline was due to lower net interest income, which dropped 10.9% in 2019. (Includes data chart.)

The Federal Housing Finance Agency is seeking feedback on what financial requirements should be enforced for FHLB membership.

According to court filings, beginning in 2016, the FHLB-SF developed a proposal for the bank to purchase one of the GSEs. To assist in the process, the bank also engaged the services of McKinsey Consulting.

Two former employees of FHLBank of San Francisco can pursue a lawsuit for breach of contract, a DC district court ruled this week.

The severity of some of the proposals in FHFA’s request for information on PACE financing suggests the agency intends to take some drastic steps.