Coalition for FHLB Reform

The Coalition for Federal Home Loan Bank Reform is a non-partisan organization dedicated to bringing together a wide variety of stakeholders to discuss, educate and shape reforms aimed at enhancing the ability of the FHLB system to address the nation’s unmet housing and community development needs.

Over 60 Organizations Sign On to Letter Urging Congressional Action to Increase FHLB Affordable Housing Program Contributions

The letter called on Congress to require the Federal Home Loan Banks (FHLBanks) to contribute at least 30 percent of their net income each year to support community development, including at least 20 percent to Affordable Housing Programs (AHP). Congressional action on this matter is crucial, as the FHLB Presidents stated in their August 2024 letter to the U.S. Treasury Deputy Secretary Adeyemo that they would not increase AHP contributions unless directed by Congress.

Don't miss a monthly update on the latest news on FHLBanks and the coalition's reform efforts, straight to your inbox.

a close up of a wall made of paper
a close up of a wall made of paper

CFR is launching a newsletter!

CFR Submits Letter in Response to FHFA Request for Input on the AHP Application Process

The coalition's letter was drafted using input from state and local organizations who work to improve access to affordable housing using FHLB funding.

First Quarter Data Shows FHLBanks Continue to Make Record Breaking Profits

FHLBank net income increased to $1.761 billion in 2024Q1, an increase of $154 million from the previous quarter and dividends increased to $935 million, up from $905 million. Retained earnings grew to $28.7 billion, up $826 million from year-end 2024. Voluntary contributions to housing and community investment programs represent less than 3 percent of 2024Q1 net income.

CFR Calls on the FHLBank Presidents to Prioritize Affordable Housing Investments

The Coalition for FHLB Reform sent a letter to the 11 Presidents of the FHLBank System urging them to do more to address the nation's housing crisis. This letter echoes Treasury Secretary Janet Yellen's comments calling on the FHLBanks to allocate more spending to affordable housing, particularly to new housing construction.

beige wooden house layout
beige wooden house layout
an abstract photo of a curved building with a blue sky in the background

CFR Publishes Letter in Response to FHFA RFI on FHLBank Mission

CFR, along with 50 other housing and consumer advocacy organizations, submitted a letter to the FHFA in response to the Request for Input on the Federal Home Loan Banks' mission. In the letter, CFR advocates for reforms to help the System once again become mission-driven and to fully leverage all its activities, lending, and investments toward fair and affordable housing and community development.

Senator Warren Sends Letter to FHFA Pushing for FHLBank Reform

white concrete building under blue sky during daytime
white concrete building under blue sky during daytime

The letter advocates for Congress and federal regulators to work together to reform the flawed Federal Home Loan Bank System. Senator Warren sees FHLB reform as a means to increasing the nation's supply of safe and affordable housing.

Member of CFR's Advisory Board Releases Blog of FHLB Observations

George Collins launched his new blog, "FHLB Outsider", to explore ways in which the FHLB system can leverage their balance sheets to better support affordable housing and community development initiatives. Collins uses his 25 years of experience in the FHLB system to make fact-based arguments for FHLB reform. The blog also features tables and charts detailing the FHLBs' dividends, retained earnings growth, and more; created by Collins after analyzing the financial data from each of the Banks over the past decade.

aerial photography of rural
aerial photography of rural

PRESS RELEASE:

CFR Applauds FHFA Director Sandra Thompson for Her Testimony in the Senate Banking Committee Hearing

white concrete dome museum
white concrete dome museum

New Report Shows Federal Home Loan Banks Received $7.3 Billion in Subsidies, but Offered Little Public Benefits in Return

PRESS RELEASE:

NEW PRESS RELEASE:

CFR's New Report Highlights Need for Greater Transparency in FHLBanks

The data and analysis report linked below detail record profits in 2023 driven by higher interest rates and the earnings from the investment of capital as well as operating costs that seem efficient, but need to be better explained for a system with fewer than 7,000 customers.

grey concrete building
grey concrete building

FHLB Dividends: Low-Hanging Fruit for Reconfiguring FHLB Lending

Read a new piece from the Yale School of Management about the need to revisit the Federal Home Loan Bank dividend practices and the lack of transparency and difficulty of ascertaining key aspects of the banks' activities.

Missed our webinar?

Watch the insightful discussion on the future of Federal Home Loan Bank reform led by some of our Coalition's experts. This webinar features an overview of the current system and what new upcoming changes could mean for affordable housing and community development. The discussion ends with a Q&A with questions from the audience.

"The Federal Home Loan banks should embrace their housing mission"

Barry Zigas' new piece in American Banker analyzes how the FHLB system has the potential to serve the nation's housing needs if they embrace the proposed FHFA reforms. He leaves readers with this call to action: "The times require a hard look at how these GSEs move forward as an important mechanism of national housing policy. Their current intransigence toward their regulator's recommendations does not serve their long-term viability, nor the urgent needs of America's homebuyers and renters."

white concrete building
white concrete building

New Bloomberg Piece Exposes How FHLBanks are Fighting Reform with Money and Influence

The banks are using millions of dollars to fight back against much needed reform. Reform efforts are up against a lot of money and power, but the movement to overhaul the FHLB System is gaining traction. Read more at the link below:

The Time for Federal Home Loan Bank Reform has Come

Read founding member Peter Knight's thoughtful analysis on the once in a generation opportunity to refocus the banks' efforts supporting affordable housing and community development.

man in purple suit jacket using laptop computer
man in purple suit jacket using laptop computer

CFR Applauds New FHFA Report

Read what coalition members had to say about the proposed FHLB reforms by clicking below.

Read the full FHFA report, FHLBank System at 100, by clicking below.

Get Involved

Sign on as a coalition member, affiliated with your organization or as a private citizen, or sign up to receive email updates.

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Questions? contact@fhlbreform.org