FHLB - Federal Home Loan Bank

  • Federal Home Loan Bank Act of 1932
    • Federal Home Loan Bank System
    • Federal Home Loan Bank Board 
  • Federal Housing Finance Agency (FHFA) - [link]
    • The Federal Home Loan Bank System was created by the Federal Home Loan Bank Act as a government sponsored enterprise to support mortgage lending and related community investment
  • Journal - Federal Home Loan Bank Board
  • In support of this proposition, housing groups cite the reduction in mortgage/asset ratios of mutual savings banks in recent years, as well as the wholesale withdrawal of life insurance companies from the single-family market.

1977 06 - HLLBB Journal - Modernizing Thrift Institutions . . . Full Service Family Financial Centers Are the Answer, by Saul B. Klaman, Executive Vice President National Association of Mutual Savings Banks

⇒ [Bonk: Found in Records & Briefs New York State Appellate Division - 1831p-GooglePlay]

  • 2022 1004 - FHLB - FHLBank System at 100 - Focusing on the Future Public Listening (Day 3) - 62p
  • 2017 - AP - The Federal Home Loan Bank System: A Bibliography, by David Reiss - 31p
  • GAO / Federal Reserve Report - AIG
  • purpose 
  • FHLB System Combined Financial Report
  • Brian Bayerle (ACLI) said pledging collateral to the FHLB could actually increase a company’s liquidity, as the company can draw on liquid assets in the event of needing additional liquidity.
    • He said this is especially true if the more illiquid assets are pledged.
  • Mr. Ostlund said he is not convinced it is a good idea for an insurance company to be doing anything in that regard, as it might be desperation.
  • Michael Lovendusky (ACLI) said that could have been the situation in 2008.
  • Paul Graham (ACLI) said the asset the company gets as a result of the transaction is cash and what that does is take care of situations where a market may make it difficult to sell existing assets at book or better.
    • He said it allows companies to hold assets through a market cycle without taking a capital loss in the event that cash is needed to pay benefits.

2017 09 28 - NAIC - Market Conduct Annual Statement Blanks (D) Working Group - Conference Call

  • 1932 0316, 17, 18, 21, 22, 23, 24, 25, 28, 29, 30 - GOV (House) - Creation of a System of Federal Home Loan Banks [FHLB] - H.R. 7620 - Michael K. Reilly (D-WI) - [PDF-430p] 
  • 1947 0513/16 - GOV (House) - Amendments to Federal Home Loan Bank Act, Home Owners' Loan Act of 1933, and National Housing Act - H.R 2798, H.R. 2799, H.R. 2800, and H.R. 3448
    • House - Banking and Currency - 89p
    • (p65) - Mr. FAHEY. Oh, yes; that is true of the Federal Savings and Loan Insurance Corporation. The same thing can be said of FDIC. Both have been going through a pretty comfortable period. These insurance funds, after all, have not been seriously tested yet. The legislation was very sound and wise, in my judgment. It had a great constructive effect during the war. It influenced great numbers of people, enjoying higher wages and fuller employment, to put money into savings institutions of all kinds-I mean savings and loan associations, the savings departments of the commercial banks and mutual savings banks.
      • They also put great sums into life insurance. 
  • 1992 01 - SOA - The Actuary - A Possible Source of Low-cost Liquidity, by Irwin T. Vanderhoof, Society of Actuaries (p3) - 20p
  • 2010 - LC - Federal Home Loan Bank of Pittsburgh v. J.P. Morgan Securities LLC, 19 Pa. D. & C.5th 32 (2010), Nov. 29, 2010 · Allegheny County Court of Common Pleas · no. GD09-016892, 19 Pa. D. & C.5th 32, 
  • 2011 - AP - The Federal Home Loan Bank System: A Vehicle For Job Creation And Job Retention - 40p
  • 2017 - LR - The Federal Home Loan Bank System: A Bibliography - 31p
  • (p275) - It is unlikely, however, that life insurance companies and pension funds, given the way in which they operate, would borrow through long-term advances in order to make mortgage loans. 
  • As you may be aware, life insurance companies are presently eligible to be members of the Federal Home Loan Bank System and obtain regular advances.
  • Only two life insurance companies are currently members.
  • The explanation is that there are more basic reasons that have made long-term fixed rate mortgage loans unattractive to most diversified lenders.
  • Providing them with advances will not necessarily change their attitude about making such mortgage loans.
  • One promising approach is to encourage more S&L's to issue mortgage backed bonds that will be more attractive to pension funds and life insurance companies than the underlying mortgages themselves.

--  Statement of the Federal Home Loan Bank Board on the Financial Reform Act of 1976 (p232)

  • 1976 0304, 0309, 0311, and 0316 - GOV (House) - The Financial Reform Act of 1976 - Part 1
    • [PDF-589p-GooglePlay
    • House - Committee on Banking, Currency and Housing - Subcommittee on Financial Institutions Supervision, Regulation and Insurance  
  • (p1) - Chairman Paul Kanjorski (D-PA). Do these insurance institutions have the rate to participate with Federal Home Loan Banks?
    • [Bonk: Typo - "rate" = "right"]
  • Eric Dinallo. I am sorry. I did not hear the very last part.
  • Chairman Kanjorski. Why could the insurance companies not make an application to the Federal Home Loan Bank system for a line of credit?
  • Mr. Dinallo. I do not know the answer to that.
    • Certainly, the investment banks that are the counterparties to their policies could make such an application, and you could do the re-insurance that way.
  • Chairman Kanjorski. We should look into that.
    • I certainly would be amenable, and that is one way to spread the risk.

2008 0214 - GOV (House) - The State of the Bond Insurance Industry, Paul Kanjorski (D-PA)  ---  [BonkNote]

  • 1932 - GOV (Senate) - Creation of a System of Federal Home Loan Banks
    • [PDF-765p-GooglePlay]
    • (p2) - Capital of Federal Home Loan Banks and Subscriptions Thereto
      • Sec. 4. ( a) Such of the following as are duly organized under the laws of any State or of the United States, and are subject to inspection and regulation under the banking laws, or under similar laws, of the State or of the United States, shall be eligible to become a member of a Federal home loan bank:
        • ( 3) Insurance companies.
    • Senate - Committee on Banking and Currency
  • There should be attempts made to provide a self-insurance program within the Federal Home Loan Bank System in connection with life insurance on mortgage loans to retire the indebtedness in the event of the death of the principal mortgagor.  (p35)

1956 1218 and 1219 - GOV (Senate) - FHLBB And FSLIC - Study of Relationships - [PDF-101p-GooglePlay]

  • John C. Angle: I would like to begin by reciting for you one case example.
    • Most of you are probably aware that the net worth of savings and loans in the United States have declined by 7% during the first 7 months of this year, at the rate of 1% a month.
    • An examination of the assets of these institutions shows that almost 9% of their assets consist of advances from the Federal Home Loan Bank at interest rates of 16-20% and that they also have significant holdings of negotiated rate certificates of deposit or repurchase agreements.
    • The Board of Directors of the Guardian Life includes three economists, all three of whom sit on the boards of mutual savings banks in New York.
    • As they go from a meeting of a particular savings bank to our Board, they carry with them a concern over our ability to meet immediate demands for our individual life policy cash values which are not yet encumbered by policy loans.

1981 - SOA - The Impact of Inflation on Insurance and Annuity Reserve Valuation: The C-3 Risk, Society of Actuaries - 44p