Outstanding advances for the FHLBank system fell to $693.48 billion in the third quarter from $742.85 billion in the second. Still, the 11 FHLBanks’ combined profits were up almost 10%. (Includes three data tables.)

Fannie executives were forced out after investigating evidence of potential wrongdoing by FHFA Director Bill Pulte, sources say.

Pershing Square founder Bill Ackman, who earlier this year pitched a swift end to the conservatorship, now says it could take as long as three years. He also has some near-term suggestions.