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2022 FHLBank Targeted Mission Activities Report43405<h2 style="padding-top&#58;8px;padding-bottom&#58;6px;color&#58;#276598 !important;">​​​​​​Overview of FHFA and FHLBank Targeted Mission Activities<br></h2><p>The Federal Housing Finance Agency (FHFA) was established by the Housing and Economic Recovery Act of 2008 (HERA) and is responsible for the supervision, regulation, and housing mission oversight of the 11 Federal Home Loan Banks (FHLBanks), the Federal National Mortgage Association (Fannie Mae), and the Federal Home Loan Mortgage Corporation (Freddie Mac). As regulator of these entities, FHFA is responsible for ensuring that they operate in a safe and sound manner so that they serve as a reliable source of liquidity and funding for housing finance and community development.<a href="#Ftn1" class="super-script">1</a> As part of their public mission, the FHLBanks play an important role in supporting affordable housing and community development throughout the country.</p><h2 style="padding-top&#58;16px;padding-bottom&#58;6px;color&#58;#276598 !important;">S​upport of Low-Income Housing and Community Development through FHLBanks’ Targeted Mission Activities</h2><p>This report discusses the FHLBanks’ targeted mission activities to support low-income housing and community development in 2022.<a href="#Ftn2" class="super-script">2</a><span class="super-script-nolink">,</span><a href="#Ftn3" class="super-script">3</a> The FHLBanks support a range of these activities through various programs&#58; the statutorily-mandated Affordable Housing Program (AHP), the statutorily-mandated Community Investment Program (CIP), and the voluntary Community Investment Cash Advance Program (CICA).<a href="#Ftn4" class="super-script">4</a> Under these programs, the FHLBanks provide loans (referred to as advances) and grants to their members or housing associates,<a href="#Ftn5" class="super-script">5</a> as applicable, who use these funds to assist very low- and low- or moderate-income households and communities.<a href="#Ftn6" class="super-script">6</a> Additionally, most FHLBanks support low-income housing and community development through voluntary programs that the FHLBanks offer at their discretion. Each year, the FHLBanks adopt Targeted Community Lending Plans (TCLPs), in which they identify and assess housing needs addressed through their AHPs, and describe how the Bank will address identified credit needs and market opportunities in the Bank's district for targeted community lending.<a href="#Ftn7" class="super-script">7</a></p> <p style="padding-bottom&#58;16px !important;">View the <a href="/AboutUs/Reports/ReportDocuments/2022-FHLBank-Targeted-Mission-Activities-Report.pdf">full report</a> for additional details and information.<br></p><hr /><p class="Footnote"> <a name="Ftn1" class="super-script">1</a> Since 2008, FHFA has also served as conservator of Fannie Mae and Freddie Mac.</p><p class="Footnote"> <a name="Ftn2" class="super-script">2</a> The Federal Home Loan Bank Act requires FHFA to monitor and report annually to the Advisory Council for each FHLBank, the support of low-income housing and community development by the FHLBanks and the utilization of FHLBank advances for these purposes. <u>See</u> 12 U.S.C. § 1430(j)(12).</p><p class="Footnote"> <a name="Ftn3" class="super-script">3</a> This report was previously titled the “Low-Income Housing and Community Development Activities of the Federal Home Loan Banks.” The title has been changed for this report to reflect its coverage of additional FHLBank targeted mission activities.</p><p class="Footnote"> <a name="Ftn4" class="super-script">4&#160;</a><u>See</u> 12 U.S.C. § 1430(i) and (j). The CICA regulation defines CICA programs to include AHP, CIP, and targeted economic development advance or grant programs established by an FHLBank. 12 C.F.R. § 1292.1. However, because AHP and CIP are specifically required by statute, they are generally described separately from other programs under the CICA umbrella. This practice is followed in this report. The AHP is governed separately by FHFA’s AHP regulation. 12 C.F.R. part 1291. Some FHLBanks also provide voluntary community development and housing subsidy programs that do not fall under this statutory and regulatory framework.</p><p class="Footnote"> <a name="Ftn5" class="super-script">5&#160;</a><u>See</u> 12 U.S.C. § 1430(j)(10); 12 C.F.R. part 1292. Housing associates are defined to include eligible state and local housing finance agencies. Housing associates are not FHLBank members, but FHLBanks may offer them advance products except CIP advances. See 12 U.S.C. § 1430b; 12 C.F.R. part 1264.</p><p class="Footnote"> <a name="Ftn6" class="super-script">6</a> Low- or moderate-income households are defined as households with incomes of 80 percent or less of Area Median Income (AMI). Very low-income households are defined as households with incomes of 50 percent or less of AMI.</p><p class="Footnote"> <a name="Ftn7" class="super-script">7</a> 12 C.F.R. § 1290.6(a)(5)(ii).</p> ​<br>11/8/2023 8:44:33 PMEqual Employment Opportunity / No FEAR Act Home / About FHFA / Reports / 2022 FHLBank Targeted Mission Activities Report Overview of FHFA and FHLBank Targeted Mission Activities 817https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
FHLBank System at 100: Focusing on the Future Report41776​<p>​​The Federal Home Loan Bank System (System) has served as a key component of the nation’s housing finance system since its creation over 90 years ago. The mortgage market, the broader financial system, and the Federal Home Loan Banks (FHLBanks) themselves have undergone significant changes over nine decades. These changes reflect underlying shifts in technology and structured products, land use and development, demographics, legal and regulatory frameworks, and consumer preferences.<br></p><p>Today, the FHLBanks connect domestic financial institutions—many of which are small, community-focused lenders—to the global capital markets. Those connections make it possible for lenders to provide more consistent and sustained support for housing finance and community development. By many metrics, the FHLBanks have achieved this objective, as the liquidity they provide has facilitated affordable homeownership and rental housing throughout the country. Despite these successes, the evolving nature of the modern mortgage market necessitates an in-depth review of the structure, operations, and oversight of the FHLBanks to ensure they are most effectively advancing their mission.</p><p>The Federal Housing Finance Agency (FHFA), established by Congress in 2008, serves as regulator of the FHLBank System. In August 2022, FHFA launched the <em>FHLBank System at 100&#58; Focusing on the Future</em> initiative, the first comprehensive review of the FHLBank System in decades. Throughout this process, FHFA undertook a prospective analysis of changes that may be warranted to ensure the FHLBanks are well positioned to fulfill their mission in the years ahead. The initiative involved significant stakeholder outreach, a historical review of the role of the FHLBanks, and detailed analysis of both the strengths and areas for improvement in the System’s current structure.</p><p>FHFA’s vision for the future is to have an effectively governed System that efficiently provides stable and reliable funding to creditworthy members and delivers innovative products and services to support the housing and community development needs of the communities its members serve, all in a safe and sound manner.</p><p>In this report, FHFA presents the actions that it plans to pursue in service of this vision. This report categorizes these actions under four broad themes. The themes are&#58;</p><ol><li>Mission of the FHLBank System<br></li><li>Stable and reliable source of liquidity</li><li>Housing and community development</li><li>FHLBank System operational efficiency, structure, and governance<br><br></li></ol>11/7/2023 6:01:01 PMEqual Employment Opportunity / No FEAR Act Home / About FHFA / Reports / FHLBank System at 100: Focusing on the Future Report The Federal Home Loan Bank System (System) has 2097https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
Annual Performance Plan - FY 202443389<p>​​​​The<strong> </strong><a href="/AboutUs/Reports/ReportDocuments/FY2024_APP.pdf"><strong>Fiscal Year&#160;(FY) 2024 Annual Performance Plan</strong></a>​ (APP) supports the <a href="/AboutUs/Reports/ReportDocuments/FHFA_StrategicPlan_2022-2026_Final.pdf"> <strong>FHFA Strategic Plan&#58; Fiscal Years 2022–2026</strong></a>​&#160;(Strategic Plan),&#160;which the Agency issued in April 2022. The APP sets out performance measures and targets in support of the goals in the Strategic Plan. </p><p>FHFA’s APP has four components&#58; (1) strategic goals; (2) strategic objectives; (3) performance measures and associated targets; and (4) means and strategies.<br></p><p>​The strategic goals, established in the Strategic Plan, are the starting point for the FY 2024 APP. Aligning the APP with the Strategic Plan ties FHFA’s annual priorities to the Agency’s mission, vision, and values.</p><p> The strategic objectives in the APP link directly to those established in FHFA’s Strategic Plan. Each strategic objective is an intermediate outcome or output necessary to achieve the corresponding strategic goal.​<br></p>10/5/2023 3:01:03 PMEqual Employment Opportunity / No FEAR Act Home / About FHFA / Reports / Annual Performance Plan - FY 2024 The Fiscal Year (FY) 2024 Annual Performance Plan​ (APP) supports the 2404https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
Annual Report to Congress - 202240661<div><p>​​​​​The Federal Housing Finance Agency’s (FHFA’s) <strong> <em> <a href="/AboutUs/Reports/ReportDocuments/FHFA-2022-Annual-Report-to-Congress.pdf">2022&#160;Report to Congress</a>​</em></strong> covers&#160;the activities of FHFA and its regulated entities in 2021.&#160;<span lang="EN-US" data-contrast="auto">The statutorily-required report provides information about the Agency’s 2022 examinations of Fannie Mae, Freddie Mac (the Enterprises), the 11 Federal Home Loan Banks (FHLBanks), and the FHLBanks’ Joint Office of Finance. It also describes FHFA’s actions as conservator of Fannie Mae and Freddie Mac and provides an overview of FHFA’s regulatory activities, research, and publications issued during the year.</span><span data-ccp-props="&#123;&quot;335559737&quot;&#58;288&#125;">&#160;T</span>his report meets all such requirements applicable as of December 31, 2022.<br></p><p>​ <a href="/Media/PublicAffairs/Pages/FHFA-Issues-2022-Report-to-Congress.aspx">Related News Release</a>​<br></p></div><p>&#160;<br></p>6/15/2023 5:04:26 PMEqual Employment Opportunity / No FEAR Act Home / About FHFA / Reports / Annual Report to Congress - 2022 The Federal Housing Finance Agency’s (FHFA’s) 2022 Report to 6601https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
2022 Housing Mission Report: Affordable Housing Activities of Fannie Mae, Freddie Mac, and the Federal Home Loan Banks40096<p style="padding-top&#58;8px !important;">​​​The Federal Housing Finance Agency (FHFA), as regulator and conservator of Fannie Mae and Freddie Mac (the Enterprises), and as regulator of the 11 Federal Home Loan Banks (FHLBanks), is responsible for their effective supervision, regulation, and mission oversight.</p><p>FHFA engages closely with the regulated entities as they work to fulfill their responsibilities to support affordable housing financing, targeted economic development financing, and underserved communities. This report provides a comprehensive look at the mission activities carried out by the regulated entities in 2022.</p><p>Rising interest rates and associated market volatility throughout 2022 resulted in an especially challenging environment for financing affordable housing across the single-family and multifamily business lines. The market saw higher home prices, fewer refinances and home purchase originations, continued rent growth, and ongoing housing supply constraints. When combined with high levels of inflation driving up the costs of daily life, many low- and moderate-income households encountered difficulties accessing affordable housing.</p><p>Despite these uncertain and changing market conditions, the Enterprises and FHLBanks completed a multitude of mission activities in 2022, all while operating in a safe and sound manner. For instance, in addition to overseeing the Enterprises’ statutorily mandated mission programs (i.e., the Enterprise housing goals and Duty to Serve programs), FHFA required the Enterprises to explore how they could better protect tenants living in rental properties, focus on environmental safety issues such as radon, account for the risks associated with climate change, and address barriers to sustainable housing opportunities through their Equitable Housing Finance Plans and other initiatives. Similarly, FHFA oversaw the FHLBanks’ statutorily mandated programs (i.e., Affordable Housing Program, Community Investment Program, and FHLBank housing goals), while also analyzing the FHLBanks’ rural, manufactured housing, and Native American housing performance as described in this report.</p>​<br>4/28/2023 7:05:55 PMEqual Employment Opportunity / No FEAR Act The Federal Housing Finance Agency (FHFA), as regulator and conservator of Fannie Mae and Freddie Mac (the Enterprises), and as regulator 3212https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
Report on Collateral Pledged to Federal Home Loan Banks - December 202238293<p>​​The Housing and Economic Recovery Act of 2008 (HERA) requires the Federal Housing Finance Agency (FHFA) to submit an annual report to Congress on the collateral pledged to the Banks, including an analysis of collateral by type and by Bank district. FHFA’s Report on Collateral Pledged to Federal Home Loan Banks provides the required information as well as additional analysis of data on the types and amounts of collateral pledged to the Banks to secure advances and other collateralized products offered by the Banks to their members. The information in this report uses data collected quarterly by FHFA’s Division of Federal Home Loan Bank Regulation (DBR). The charts a​nd graphs report data on the unpaid principal balance (UPB) of eligible collateral pledged by Bank members as of December 31, 2021, unless otherwise indicated.</p><br>12/19/2022 6:00:12 PMEqual Employment Opportunity / No FEAR Act Home / About FHFA / Reports / Report on Collateral Pledged to Federal Home Loan Banks - December 2022 The charts a​nd graphs report 3754https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
Annual Performance Plan - FY 202338510<p>​The&#160;<a href="/AboutUs/Reports/ReportDocuments/FY2023_APP.pdf"><strong>Fiscal Year (FY) 2023&#160;Annual Performance Plan</strong></a> (APP) supports the&#160;<a href="/AboutUs/Reports/ReportDocuments/FHFA_StrategicPlan_2022-2026_Final.pdf"><strong>FHFA Strategic Plan&#58; Fiscal Years 2022–2026</strong></a> (Strategic Plan), which was issued in April 2022.&#160;The APP sets out performance measures and targets in support of the goals in the Strategic Plan.​<br></p><p>FHFA's APP has four components&#58; (1) strategic goals; (2) strategic objectives; (3) performance measures and associated targets; and (4) means and strategies to accomplish the performance goals.</p><p>The strategic goals, which are outlined in the Strategic Plan, are the starting point for the FY 2023&#160;APP. The nexus between the Strategic Plan and the APP helps to ensure that FHFA priorities are integrated with the Agency's mission.&#160;<br></p>10/14/2022 3:05:18 PMEqual Employment Opportunity / No FEAR Act Home / About FHFA / Reports / Annual Performance Plan - FY 2023 The Fiscal Year (FY) 2023 Annual Performance Plan (APP) supports the 4715https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
Annual Report to Congress - 202137505<div> <p style="text-align&#58;center;font-weight&#58;bold !important;">​​Revised 11/17/2022</p> <p>​​The Federal Housing Finance Agency’s (FHFA’s) <strong> <em> <a href="/AboutUs/Reports/ReportDocuments/FHFA-2021-Annual-Report-to-Congress.pdf">2021&#160;Report to Congress</a>​</em></strong> covers&#160;the activities of FHFA and its regulated entities in 2021.&#160;<span lang="EN-US" data-contrast="auto">The statutorily-required report provides information about the Agency’s 2021 examinations of Fannie Mae, Freddie Mac (the Enterprises), the 11 Federal Home Loan Banks (FHLBanks), and the FHLBanks’ Joint Office of Finance. It also describes FHFA’s actions as conservator of Fannie Mae and Freddie Mac and provides an overview of FHFA’s regulatory activities, research, and publications issued during the year.</span><span data-ccp-props="&#123;&quot;335559737&quot;&#58;288&#125;">&#160;T</span>his report meets all such requirements applicable as of December 31, 2021.<br></p><p> <strong>Fannie Mae is reevaluating its 2021​​​ stress test results and associated reporting due to the recent identification of errors in an underlying model. Once this evaluation is complete, an update will be posted. Until that update is posted, you should not rely on Fannie Mae’s stress test (DFAST) information in this report for any purpose. </strong></p><p> <a href="/Media/PublicAffairs/Pages/FHFA-Issues-2021-Report-to-Congress.aspx">Related News Release</a>​<br></p></div><p>&#160;<br></p>11/17/2022 10:43:52 PMEqual Employment Opportunity / No FEAR Act Home / About FHFA / Reports / Annual Report to Congress - 2021 The Federal Housing Finance Agency’s (FHFA’s) 2021 Report to 8606https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
2021 Mission Report: Affordable Housing Activities of the Regulated Entities37397<p>​​​​​The Federal Housing Finance Agency (FHFA), as regulator and conservator of Fannie Mae and Freddie Mac (the Enterprises), and as regulator of the ​Federal Home Loan Banks (FHLBanks), is responsible for their effective supervision, regulation, and mission oversight. This inaugural report provides an overview of the full range of mission activities carried out by FHFA's regulated entities over a calendar year.</p><p>The Enterprises and the FHLBanks are federally chartered government-sponsored enterprises that support the housing finance market while fulfilling their responsibilities to support affordable housing throughout the nation, particularly in underserved communities. The FHLBanks also have targeted economic development support obligations.<br></p><p>Each regulated entity operates its own mission programs, under the guidance and oversight of FHFA. These activities range from purchase targets for mortgages obtained by borrowers below a certain threshold of an Area Median Income (AMI), to a dedicated focus on rural communities, manufactured housing, and affordable housing preservation under the Duty to Serve (DTS) program, to the FHLBank members targeted economic development lending by their member institutions, and more. Together, these activities support greater access to financing for affordable, equitable, and sustainable housing in a safe and sound manner. <br></p><p>FHFA supervises the following mission programs and initiatives&#58;<br></p><div style="padding-left&#58;60px !important;"><table border="1" style="padding-left&#58;20px !important;border-collapse&#58;collapse !important;"><tbody><tr><th style="text-align&#58;left;padding&#58;5px !important;font-weight&#58;700 !important;border-right&#58;1px solid currentcolor !important;border-bottom&#58;1px solid currentcolor !important;">Enterprises </th><th style="text-align&#58;left;padding&#58;5px !important;font-weight&#58;700 !important;border-bottom&#58;1px solid currentcolor !important;">​Federal Home Loan Banks</th></tr><tr><td style="text-align&#58;left;padding&#58;5px !important;border-right&#58;1px solid currentcolor !important;border-bottom&#58;1px solid currentcolor !important;background-color&#58;#ffffff !important;">Housing Goals</td><td style="text-align&#58;left;padding&#58;5px !important;border-bottom&#58;1px solid currentcolor !important;background-color&#58;#ffffff !important;">​Affordable Housing Program (AHP)</td></tr><tr><td style="text-align&#58;left;padding&#58;5px !important;border-right&#58;1px solid currentcolor !important;border-bottom&#58;1px solid currentcolor !important;background-color&#58;#ddebf7 !important;">Duty to Serve </td><td style="text-align&#58;left;padding&#58;5px !important;border-bottom&#58;1px solid currentcolor !important;background-color&#58;#ddebf7 !important;">Community Investment Program (CIP), Housing </td></tr><tr><td style="text-align&#58;left;padding&#58;5px !important;border-right&#58;1px solid currentcolor !important;border-bottom&#58;1px solid currentcolor !important;background-color&#58;#ffffff !important;">Fair Lending* </td><td style="text-align&#58;left;padding&#58;5px !important;border-bottom&#58;1px solid currentcolor !important;background-color&#58;#ffffff !important;">Community Investment Cash Advance (CICA) Program </td></tr><tr><td style="text-align&#58;left;padding&#58;5px !important;border-right&#58;1px solid currentcolor !important;border-bottom&#58;1px solid currentcolor !important;background-color&#58;#ddebf7 !important;">​Conservatorship Scorecard</td><td style="text-align&#58;left;padding&#58;5px !important;border-bottom&#58;1px solid currentcolor !important;background-color&#58;#ddebf7 !important;">Housing Goals</td></tr></tbody></table> ​ </div>​ ​ <p style="line-height&#58;16px !important;font-size&#58;12px !important;">* Note&#58; ​FHFA conducts Fair Lending supervision and oversight for the Enterprises and FHLBanks. The Fair Lending section presented in this report focuses on Enterprise loan applications and acquisitions.</p> ​<br>6/6/2022 6:00:11 PMEqual Employment Opportunity / No FEAR Act Home / About FHFA / Reports / 2021 Mission Report: Affordable Housing Activities of the Regulated Entities 3327https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx
FHFA Strategic Plan: Fiscal Years 2022 - 202637459<p>​​​​The Federal Housing Finance Agency (FHFA) today released the <em> <a href="/AboutUs/Reports/ReportDocuments/FHFA_StrategicPlan_2022-2026_Final.pdf">FHFA Strategic Plan&#58;&#160; Fiscal Years 2022-2026</a>​</em>, which reflects the Agency's priorities as regulator of the Federal Home Loan Banks (FHLBanks) and as regulator and conservator of Fannie Mae and Freddie Mac (the Enterprises). FHFA requested input on the draft Agency strategic plan from the public and interested stakeholders in accordance with the Government Performance and Results Modernization Act of 2010. This final <em>Strategic Plan</em> formalizes the new direction of FHFA, and its regulated entities.</p>​ <p> <a href="/Media/PublicAffairs/Pages/FHFA-Finalizes-Strategic-Plan-for-Fiscal-Years-2022-to-2026.aspx">Link to Related News Release</a>​<br></p><p> <a href="/AboutUs/Contact/Pages/input-submissions.aspx">View Input Received</a>​ - Select <em>&quot;FHFA's&#160;Strategic Plan&#58; Fiscal Years 2022-2026&quot;</em><br></p>4/14/2022 3:00:40 PMEqual Employment Opportunity / No FEAR Act Home / About FHFA / Reports / FHFA Strategic Plan: Fiscal Years 2022 - 2026 The Federal Housing Finance Agency (FHFA) today released 6422https://www.fhfa.gov/AboutUs/Reports/Pages/Forms/AllItems.aspxhtmlFalseaspx

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