Comment Detail
Date: 06/21/24 First Name: Darren Last Name: Herrmann Email: darren.herrmann@umb.com Organization Type: individual Organization: UMB Financial Corporation & UMB Bank Comment
Congress created the FHLBank System and its mission, and any changes to the System’s mission should be determined by Congress, not the FHFA. The Federal Home Loan Bank liquidity availability is critical to my institution especially relative to the Federal Reserve Discount Window because the FHLB provides many more tenors of borrowings versus the Discount Window which only effectively goes out for 28 days. The FHLB system has proven to be an extremely valuable provider and partner to its members in support of its mission and in enabling financial institutions to serve their communities in ways they might not otherwise be able to.
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