The appetite of the Federal Home Loan Banks for MBS waned considerably during the final months of 2004, but the system as a whole still notched double-digit growth for its book of securities for the full year. According to Inside The GSEs, an affiliated newsletter, the 12 government-sponsored enterprises grew their combined portfolio of MBS by 16 percent in 2004 after recording a mere 2 percent increase in 2003. The gains in 2004 were spread…