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  • Comment Detail

  • Date: 02/22/23
    First Name: Gary
    Last Name: Becker
    Email: gbecker@qcrh.com
    Organization Type: other
    Organization: Cedar Rapids Bank and Trust

  • Comment

    We are a $2 billion Community Bank based in the State of Iowa and a member of the Federal Home Loan Bank of Des Moines. FHLB DM is a critical partner in our success. They provide a wide range of products and services that we utilize in our day-to-day operations. Any changes contemplated to those services, access to those services, restrictions on levels of those services offered, or constraints imposed on our ability to utilize those services would be a significant blow to our ability to run a profitable, stable community bank. We place great value on our ability to access wholesale funding from FHLB DM that is available on a stable and predictable basis. I would point out that the entire FHLB system has provided this valuable source of funding for its entire existence without ever having a loss due to credit issues of their customers. Their processes and monitoring have served the financial community and the nation as a whole very well and is a key component of community banks maintaining viable liquidity and funding sources for us to serve our customers and communities.