The FHLBanks last year agreed to voluntarily raise their contributions to affordable housing programs from 10% of net income to 15%, but they balked at Treasury’s suggestion to increase that to 20%.

All but one of the regional banks experienced a sequential decline in net income, but most reported an increase in voluntary contributions to mission-related activities. (Includes data table.)

FHFA’s proposed rule responds to market trends that have made it difficult for the GSEs to meet their benchmark goals.