Trade groups point out that it sometimes takes days for lenders to get their collateral back after paying off a Fed advance.

Retiring FHLBank New York CEO Jose Gonzalez is set to be replaced by current Office of Finance CEO Randy Snook.

A number of large banks have significantly scaled back their use of FHLBank advances, which is having an impact on the system’s income. In addition to rising voluntary investment in housing, the FHLBanks have boosted their single-family mortgage portfolios. (Includes three data tables.)

The FHLBank is extending the terms and reducing the haircut on collateral pledged by non-depository CDFIs and state-chartered HFAs (which technically aren’t even members).

A new advisory bulletin streamlines the application process for an affordable housing subsidy and makes the rules more compatible with those of other affordable housing funders.

Affordable housing and community development advocates say taxpayers aren’t getting enough for the government subsidy of the FHLBanks. The FHLBanks say critics misunderstand their federal support.

The Council of Federal Home Loan Banks said Treasury’s proposal that the FHLBanks use their excess retained earnings to support affordable housing is asking them to operate on minimum capital levels.

The list of challenges facing FHFA include the GSEs’ multifamily business, the Office of Inspector General said in a new report.

Newly published comment letters show that housing and community advocacy groups support FHFA’s plan to use member incentive programs to encourage more mission-oriented lending by the FHLBanks.

Trade groups representing banks are unhappy with some of the changes FHFA is making to Federal Home Loan Bank practices.