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  • Comment Detail

  • Date: 12/08/14
    First Name: James
    Last Name: Eckert
    Organization: Anchor State Bank
    City: N/A
    State: N/A
    Attachment: N/A
    Number: RIN-2590-AA39

  • Comment

    Dear Sir or Madam:

    Anchor State Bank is a $13,000,000 deposit bank located in Central Illinois. The nearest city of any size is Bloomington/Normal, about 30 miles from our single office.

    We object to this proposed rule, which significantly increases the requirements for our bank to remain a member of the Federal Home Loan Bank of Chicago.

    Our small bank has little or no access to funding outside our local area and the FHLB has been a useful source of liquidity since we joined the FHLB system.

    Access to small amounts of additional deposits to fund liquidity needs and fund unforeseen loan requests is limited to us. We can sell brokered deposits, but these are only available in $500,000 or $1,000,000 amounts which is much more than we need at a given time or at a given maturity.

    Please reconsider your tightening of FHLB membership requirements.

    Sincerely,

    James R. Eckert
    President and Trust Officer
    Anchor State Bank