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FHFA is responsible for the regulation and oversight of the Federal Home Loan Banks' (FHLBank) housing and community investment programs. These programs include:

FHFA also monitors Community Development Financial Institutions' (CDFI) membership in the FHLBank System.

FHFA publishes an annual summary of the FHLBanks' housing and community investment programs in the Low-Income Housing and Community Development Activities of the FHLBanks Report.

Each FHLBank also develops or updates a Targeted Community Lending Plan each year detailing housing and community investment needs in its district. 


Affordable Housing Program

AHP Final Amendments

FHFA has issued the final rule amending the AHP regulation. 

Event Materials

AHP Final Rule Webinar Recording (12/13/2018)
AHP Final Rule Webinar Slides (12/13/2018)
AHP Final Rule Webinar Transcript (12/13/2018)

AHP Proposed Rule Webinar Recording (3/27/2018)
AHP Proposed Rule Webinar Slides (3/27/2018)
AHP Proposed Rule Webinar Transcript (3/27/2018)

By law, each FHLBank must establish an Affordable Housing Program, and must contribute 10 percent of its earnings to its AHP.

Under the Federal Home Loan Bank Act (FHLBank Act), the specified uses of AHP funds are to finance the purchase, construction, or rehabilitation of owner-occupied housing for low- or moderate-income households (with incomes at 80 percent or less of the area median income), and the purchase, construction, or rehabilitation of rental housing where at least 20 percent of the units are affordable for and occupied by very low-income households (with incomes at 50 percent or less of the area median income). The AHP leverages other types of financing, and supports affordable housing for special needs and homeless families, among other groups.

The FHLBanks are authorized to operate two programs:

  • Competitive Application Program - A financial institution member of a FHLBank submits an application for AHP funds to the FHLBank on behalf of a non-profit or for-profit sponsor and is evaluated in comparison to other applications under the FHLBank's scoring system.  The FHLBank approves the applications in descending ranking order starting with the highest scoring application.

  • Homeownership Set-Aside Program - FHLBanks make grants available to their financial institution members, who provide the funds as down payment, closing cost, or counseling assistance to homebuyers, or as rehabilitation assistance to homeowners.  Establishment of homeownership set-aside programs is elective for each FHLBank.  FHFA's regulation limits the amount of funds that a FHLBank may allocate annually to its set-aside program.

Each FHLBank develops or updates an AHP Implementation Plan every year describing how the FHLBank operates its AHP.  

Additional AHP and regulatory documents can be found here.

2017 Federal Home Loan Bank Statutory Contributions*


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* Individual FHLBank statutory contributions are based on individual FHLBank earnings from the previous year.


Ask an AHP Question

Have questions about the AHP? Email us.

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Community Investment Program

The FHLBank Act also requires each FHLBank to offer Community Investment Program (CIP) advances (i.e., loans) to their member financial institutions. The FHLBanks' CIP advances finance housing for households with incomes up to 115 percent of the area median income or commercial and economic development activities that benefit low- and moderate-income families (defined as 80 percent or less of area median income) or activities located in low- and moderate-income neighborhoods (where 51 percent or more of the households are low- or moderate-income).

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Community Development Cash Advances for Targeted Economic Development

The FHLBanks offer advances for targeted economic development under the Community Investment Cash Advances (CICA) program, which is authorized by FHFA regulation. CICA programs offer funding for FHLBank members to provide financing for projects that are targeted to certain economic development activities. CICA lending is targeted to specific beneficiaries, including small businesses and certain geographic areas.  CICA funding in urban areas is for targeted beneficiaries with incomes at or below 100 percent of the area median income and CICA funding in rural areas is for targeted beneficiaries with incomes at or below 115 percent of the area median income.

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Community Support Program

The FHLBank Act requires FHFA to adopt a regulation establishing standards of community investment or service for members of the FHLBanks to maintain access to long-term FHLBank advances. The Community Support Program (CSP) regulation is codified as 12 CFR part 1290. For purposes of the CSP, the term “long-term advances” means advances with a term to maturity greater than one year. A member’s CSP performance can also affect its ability to continue participation in the FHLBanks’ Affordable Housing Program, and other Community Investment Cash Advance programs.

The CSP regulation establishes standards for the member’s performance under the Community Reinvestment Act of 1977 (CRA) and the member’s record of lending to first-time homebuyers. With certain limited exceptions, each FHLBank member must meet the CRA standards and first-time homebuyer support standards set forth in the CSP regulation. The CSP regulation sets forth the process that FHFA follows in reviewing, evaluating and communicating each member’s community support performance. Also, the CSP regulation requires FHLBank members to submit a Community Support Statement (CSS) to FHFA every two years, in odd-numbered years. The CSS serves to document a FHLBank member’s CRA performance and support of first-time homebuyers. A FHLBank member subject to CSP review must provide to FHFA: 1) its CRA rating, if it is subject to the CRA; and 2) information about its support for first-time homebuyers.

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Community Development Financial Institutions Membership in the FHLBank System

CDFIs are specially designated financial institutions that serve markets underserved by traditional financial institutions.

As of December 31, 2017, 48 non-depository CDFIs were FHLBank members.

FHLBank members can be found here.

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