Congressman Richard Baker, R-LA, is asking the Federal Housing Finance Board to provide detailed information on whether the Federal Home Loan Banks are participating in hedging activities with Fannie Mae or Freddie Mac. In an August 27 letter to FHFB Chairman John Korsmo, Baker wrote he has learned that “at least one of these GSEs engages in interest rate hedging activity with [the] Federal Home Loan Banks as counterparties.” The congressman noted such an