Comment Detail
Date: 06/21/24 First Name: Kevin Last Name: Heneghan Email: kheneghan@newfb.com Organization Type: N/A Organization: NEW FRONTIER BANK Comment
Congress created the FHLBank System and its mission, and any changes to the FHLB System's mission should be determined and directed by Congress, not the FHFA. The FHLBank System is a critical liquidity backstop for community banks (like New Frontier Bank, St. Charles, Missouri) that provide necessary means of capital to individuals and small businesses that often do not have access to capital at the regional or national banks, and I urge the FHFA to ensure at that all current members continue to have the same access to it as they do today. The FHLBank System provides important financial stability to the broader financial system, and the System works well as it is which has been proven repeatedly for almost 100 years.
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