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  • Comment Detail

  • Date: 10/31/22
    First Name: Dennis
    Last Name: Snow
    Email: dsnow@bankerstrust.com
    Organization Type: other
    Organization: Bankers Trust Company

  • Comment

    October 31, 2022

    Sandra Thompson
    FHFA Director
    Constitution Center
    400 7th Street, SW
    Washington, D.C. 20219

    Uploaded via FHFA.gov website

    Re: FHLBank System at 100 Review

    Dear Director Thompson:

    Thank you for the opportunity to share Bankers Trust’s experience with the Federal Home Loan Bank system and FHLB Des Moines, specifically. Bankers Trust is a $6 billion bank headquartered in Des Moines, Iowa. Founded in 1917, we have a long history of supporting the communities, businesses, and individuals in our markets. Our membership in and strong partnership with FHLB Des Moines throughout the years have provided us greater resources to do this.

    One of the resources this partnership provides is the Home$tart program which provides down payment and closing cost assistance to low- and moderate-income individuals and families. This allows program recipients with the financial assistance needed to achieve affordable homeownership. As an approved Home$tart program lender, Bankers Trust identifies qualified applicants and educates them on the benefits of the program. Without programs like Home$tart, low- and moderate-income individuals and families would face increased financial challenges of owning a home - an opportunity that should be afforded to all who want to improve their chances of building generational wealth and achieving financial success.

    Another important aspect Bankers Trust’s partnership with FHLB Des Moines provides is the reliable access to secured funding. This allows Bankers Trust, and all member banks, to more fully meet the borrowing needs of the homes and businesses it serves and provides daily liquidity to assist in balancing the needs of borrowers with the cash reserves of depositors. Without the funding provided by FHLB Des Moines, much needed community and economic development would be hindered.

    For these reasons and others, we strongly encourage the FHFA to work toward maintaining and strengthening the Federal Home Loan bank system to allow it to continue supporting housing finance and community investment through its various members.

    Sincerely,

    Dennis Snow
    Vice President & Treasurer
    Bankers Trust Company
    Des Moines, Iowa