Notice of Federal Home Loan Bank Members Selected for Community Support Review
The Federal Housing Finance Agency (“FHFA”) has issued a final rule amending its community support regulation, 12 CFR Part 1290. This regulation requires that Federal Home Loan Bank members meet certain standards of community investment or service to maintain continued access to long-term (greater than one year) advances from the Federal Home Loan Banks. In accordance with the recently revised regulation, the FHFA will review the community support record of all FHLB members at the same time, every two years.
Click here for a list of Federal Home Loan Bank of New York members required to submit a Community Support Statement form to the FHFA by December 31, 2017. As part of its review process, the Finance Agency solicits public comments on the community support programs and activities of member lenders selected for review. If you have any comments, both positive and/or critical, on the performance of any of these members in meeting the credit needs of their communities, please send your comments directly to the FHFA, by electronic mail to email@example.com, or by facsimile to (202) 649–4308 by March 31, 2017.
Thank you for your commitment to promoting affordable housing opportunities within your community!
Paul B. Héroux
Community Investment Officer
Federal Home Loan Bank of New York