DeMarco Discusses the Future of FHLBanks

Edward J. DeMarco, Acting Director of the Federal Housing Finance Agency told Federal Home Loan Bank directors yesterday that their Banks’ proven ability to access global markets could play a large role in their future.  DeMarco spoke to the directors as they met in conference in Washington, DC.  DeMarco said that most FHLBanks had emerged from the recent crisis in relatively good condition and all 12 were profitable last year.  The Banks, DeMarco said, have long been a conduit to global capital markets and have enhanced the liquidity and funding of mortgages for decades.  DeMarco told the directors their most important role is to oversee and advise on the strategic planning process at their banks which means planning for the future.  For an organization to compete effectively it must build its strategic plan around its competitive advantage and for FHLBanks that advantage is their government-sponsored enterprise borrowing privilege.

Mortgage News Daily

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