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FHFA Advances Implementation of FHLBank System at 100 Recommendations


​​​​​​​​​​​​​​​​​​​​​​​​​​​​​Washington, D.C. –  The Federal Housing Finance Agency (FHFA) today is providing an update on its implementation of the recommendations of the Federal Home Loan Bank (FHLBank) System at 100: Focusing on the Future report​​, which was published in November 2023 and followed the first comprehensive evaluation of the FHLBank System in decades. ​

A significant finding of the report is that the FHLBanks must appropriately support housing and community development in their districts, in addition to providing liquidity to members.

Today, FHFA is publishing a regulatory interpretation that clarifies how cooperativas in Puerto Rico can pursue membership in the FHLBank System. Cooperativas are a critical part of the financial system in Puerto Rico, and many are Treasury-certified Community Development Financial Institutions (CDFIs). To date, no cooperativa has become a member of the FHLBank System.

This action implements one of the many recommendations in the report. Following publication of the report, FHFA also published an Advisory Bulletin communicating its expectation that each FHLBank establish a framework for pilot and voluntary programs by March 29, 2024.

Looking forward, key priorities in 2024 include:

  • Clarifying the FHLBank System mission
  • Aligning eligibility requirements for different types of FHLBank members
  • Streamlining requirements related to the Affordable Housing Program

FHFA is committed to transparency and will continue to provide public updates as implementation of the recommendations in the report proceeds. The Agency is also dedicated to continuing a robust stakeholder engagement process. Please visit the System at 100 web page for more information about FHFA’s implementation priorities and progress, along with announcements of public input opportunities.

Upcoming announcements will include opportunities to provide input on topics including how FHFA should measure the FHLBanks’ mission achievement and how the FHLBanks should assess their members’ connection to housing and community development.​



The Federal Housing Finance Agency regulates Fannie Mae, Freddie Mac, and the 11 Federal Home Loan Banks. These government-sponsored enterprises provide more than $8.4 trillion in funding for the U.S. mortgage markets and financial institutions. Additional information is available at www.FHFA.gov, on Twitter @FHFA, YouTube, Facebook, and LinkedIn.

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