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  • Comment Detail

  • Date: 07/15/24
    First Name: Jennifer
    Last Name: Brockner
    Email: jbrockner@tiogabank.com
    Organization Type: other
    Organization: Tioga State Bank N.A.

  • Comment

    Tioga State Bank believes the mission of the FHLBanks is clear and does not need to be changed or clarified beyond what was outlined in the statue. Congress approve the FHLB System in 1932 and the mission has always been to advance home ownership in the country and part of that mission involves providing liquidity to banks to help them support housing and small business/economic vitality.
    Tioga State Bank has been a member of the FHLB System for 30 years. In our experience, the FHLB System has successfully carried out both aspects of its mission, to provide liquidity to members and to provide affordable housing and community development, in a safe and sound manner. We’ve relied on the FHLBanks support for the last 30 years through multiple economic cycles.
    As a community bank in existence for 160 years with a strong and demonstrable commitment to housing finance and community development, Tioga State Bank does not require incentives from the FHLB System to do so. Creating additional requirements that may raise the cost or restrict FHLB advances to members in good standing with eligible collateral may only reduce the availability of mortgage credit or community development funding.