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  • Comment Detail

  • Date: 07/15/24
    First Name: joseph
    Last Name: vitale
    Email: jvitale@senecasavings.com
    Organization Type: organization
    Organization: Seneca Savings

  • Comment

    We believe the mission of the FHLBs is clear and does not need to be changed or clarified beyond what was outlined in statute.

    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 through all economic cycles

    Creating additional requirements that raise the cost or restrict FHLB advances to members in good standing with eligible collateral will only reduce the availability of mortgage credit or community development funding.

    FHLB liquidity access is a critical component of all banks. They are a superb organization to deal with. It is also crucial to note the the FHLB has not incurred a loss from Banks in their history