This annual report describes FHFA's accomplishments, as well as challenges, the agency faced in meeting the strategic goals and objectives during the past fiscal year.
Read about the agency’s 2022 examinations of Fannie Mac, Freddie Mac and the Home Loan Bank System.
Submit comments and provide input on FHFA Rules Open for Comment by clicking on Rulemaking and Federal Register.
As conservator, FHFA is focused on ensuring that each Enterprise builds capital and improves its safety and soundness.
1.
Operate the business in a safe and sound manner.
2.
Promote sustainable and equitable access to affordable housing.
2023 Scorecard
FHFA experts provide reliable data, including all states, about activity in the U.S. mortgage market through its House Price Index, Refinance Report, Foreclosure Prevention Report, and Performance Report.
Source: FHFA
FHFA economists and policy experts provide reliable research and policy analysis about critical topics impacting the nation’s housing finance sector. Meet the experts...
Glossaries
COVID-19 Resources
Opinions are written statements advising on interpretations of law, regulation, or policy.
3/11/2005
2005-GC-01: Putable Advances and Replacement Funding
[PDF]
6/16/2004
2004-GC-01: Federal Home Loan Bank Securities Registration and Disclosure
2/20/2002
2002-GC-01: When is a Gathering of the Members of the Board of Directors of the FHFB Considered a "Meeting" for Purposes of the Government in the Sunshine Act?
5/22/2000
2000-GC-02: Issuance of Consolidated Obligations Under Section 11(a) of the Federal Home Loan Bank Act
2/11/2000
2000-GC-01: Transfer of Capital Stock
12/10/1999
1999-GC-05: Effect of New Statutory Requirement for Three-Year Terms of Office for Federal Home Loan Bank Directors
11/3/1999
1999-GC-04: Proposal to Establish an Economic Development Program
8/12/1999
1999-GC-03: Federal Home Loan Bank Authority to Create and Sell Tranches
4/8/1999
1999-GC-02: Federal Home Loan Bank Authority to Provide Consulting Services to Members Under Sections 11and 12 of the Federal Home Loan Bank Act
3/18/1999
1999-GC-01: Collateral For Advances Under Section 10(a)(2) of the Federal Home Loan Bank Act
10/8/1998
1998-GC-14: Standby Letters of Credit
10/6/1998
1998-GC-13: Effect of the Statutory Purpose Limitation in Section 11(h) of the Federal Home Loan Bank Act on Federal Home Loan Bank Authority to Invest in a Small Business Investment Company (SBIC)
9/18/1998
1998-GC-12: Meaning of the Term “Insurance Company” Under Section 4(a) of the Federal Home Loan Bank Act
9/17/1998
1998-GC-10: Issues Concerning Federal Home Loan Bank Mortgage Partnership Finance Programs
9/17/1998
1998-GC-11: Conditional Membership Approvals Under the FHFB Membership Regulation for De Novo Insured Depository Institutions
7/9/1998
1998-GC-09: Implementation of a Federal Home Loan Bank’s Federal Housing Administration Rent-to-Own Purchase Program
6/10/1998
1998-GC-07: Proposed Affordable Housing Program Subsidized Cooperative Share Loan Program
1998-GC-08: Monitoring Requirements for Federal Home Loan Bank Affordable Housing Program Set-Aside Homeownership Programs
6/9/1998
1998-GC-06: Whether Limited Obligation Mortgage Revenue Bonds Are Direct Obligations For Purposes of Section II.B.11. of the Financial Management Policy
4/9/1998
1998-GC-05: Incorporation of Affordable Housing Program Regulation Recapture Provisions Into Retention/Recapture Agreements for Certain Owner-Occupied Units
3/16/1998
1998-GC-04: Whether a Federal Home Loan Bank May Accept 100 Percent Participation Interests Owned by a Member’s Second-Tier REIT Subsidiary in As Collateral for Advances Under Section 10(a) of the Federal Home Loan Bank Act
2/27/1998
1998-GC-03: Application of Median Income Standard by a Federal Home Loan Bank
2/19/1998
1998-GC-02: Use of Community Investment Program (CIP) Advances by Members to Finance CIP-Eligible Loans by Third Parties
1/21/1998
1998-GC-01: Status of State and Local Mortgage Revenue Bonds and of SBA Certificates Under the Financial Management Policy
12/18/1996
1996-GC-10: Authority of the Federal Home Loan Bank of Chicago to Establish a Pilot Mortgage Partnership Finance Program
9/10/1996
1996-GC-09: Political Activities of Federal Home Loan Bank Directors
8/21/1996
1996-GC-08: Use of Community Investment Program (CIP) Advances to Purchase Housing Bonds and Mortgage Backed Securities
6/27/1996
1996-GC-07: Authority of the Federal Home Loan Banks to Act as Counterparties in Derivative Contracts
6/10/1996
1996-GC-06: Interpretation of the “Readily Ascertainable Value” Requirement For Eligible Collateral Under Section 10(a)(4) of the Federal Home Loan Bank Act
3/22/1996
1996-GC-05: Federal Home Loan Bank Membership for a Member That Changes Its Charter and Then Relocates Its Home Office to, and Merges With a Member of, a Different Federal Home Loan Bank District
2/15/1996
1996-GC-04: Compensation of Appointed, Acting or Former Federal Home Loan Bank Chairpersons
2/8/1996
1996-GC-03: Eligibility of Municipal Bond Securities as Collateral for Federal Home Loan Bank Advances
2/5/1996
1996-GC-02: Lobbying Disclosure Act of 1995
1/5/1996
1996-GC-01: Pledge of Collateral by a Nonmember to Support an Advance by a Federal Home Loan Bank to a Member
8/7/1995
1995-GC-04: Transfer of Membership and Sale of Advances Between Federal Home Loan Banks
3/7/1995
1995-GC-03: Eligibility of Indian Housing Authorities to Receive Federal Home Loan Bank Advances
2/16/1995
1995-GC-02: Meaning of the Term “Securities” in Section 16(a) of the Federal Home Loan Bank Act
1/11/1995
1995-GC-01: Federal Home Loan Bank Authority Under the Financial Management Policy to Offer Caps, Collars and Floors to Members
2/25/1994
1994-GC-04: Acceptance of Mutual Fund Share as Collateral for Federal Home Loan Bank Advances
3/9/1994
1994-GC-03: Interpretation of Section 10(i) of the Federal Home Loan Bank Concerning the Community Investment Program
2/2/1994
1994-GC-02: Federal Advisory Committee Act
2/1/1994
1994-GC-01: Effect of an Acquisition on the Qualified Thrift Lender (QTL) Status of Federal Home Loan Bank Advances
8/26/1993
1993-GC-04: Commercial Lending Authority of Federally Chartered Savings Associations
1993-GC-05: Transfer of Stock From a Federal Home Loan Bank Member to a Nonmember
7/6/1993
1993-GC-03: Interpretation of Section 10(b) of the Federal Home Loan Bank Act
3/30/1993
1993-GC-02: Application of the Non-Qualified Thrift Lender Provisions in the Federal Home Loan Bank Act to Insurance Company Members
2/11/1993
1993-GC-01: Application of the Federal Regulation of Lobbying Act to Federal Home Loan Bank Staff
1993-GC-02_attachment.pdf
12/24/1992
1992-GC-10: Effect of In-Substance Defeasance on Calculation of the Federal Home Loan Banks Compliance with the Leverage Ratio and Negative Pledge Requirements
10/20/1992
1992-GC-08: Authority for Federal Home Loan Banks to Pledge Collateral Pursuant to Interest Rate Swap
1992-GC-09: Applicability of OMB Circular A-133 to the Affordable Housing Program and Community Investment Program
9/30/1992
1992-GC-07: Use of Affordable Housing Program Funds for Federal Home Loan Bank Cancellation and Prepayment Fees
8/24/1992
1992-GC-06: Federal Funds as Deposits in Banks or Trust Companies
5/15/1992
1992-GC-05: Applicability of Executive Order 11478 to the Federal Home Loan Bank System
4/13/1992
1992-GC-04: Risk-Based Pricing Program for Federal Home Loan Bank Advances
3/5/1992
1992-GC-03: Unilateral Retirement of Federal Home Loan Bank Stock
3/4/1992
1992-GC-02: Federal Home Loan Banks Providing Correspondent Services to Non-Members
1/7/1992
1992-GC-01: Potential Affordable Housing Program and Community Investment Program Conflicts of Interest
10/31/1991
1991-GC-24: The Negative Asset Pledge Requirement to Support the Consolidated Bonds
10/30/1991
1991-GC-23: Use of Home Equity Loans to Meet the 10% Federal Home Loan Bank Membership Eligibility Requirement in Section 4(a)(2)(A) of the Federal Home Loan Bank Act
10/17/1991
1991-GC-22: Delegation of Authority to the Federal Home Loan Banks to Approve Membership Applications
10/11/1991
1991-GC-25: Federal Home Loan Bank Membership Requirements
8/29/1991
1991-GC-19: Authority of State Housing Agencies to Receive Federal Home Loan Bank Advances
1991-GC-20: Effect of Federal Home Loan Bank Advance Participations on the Limit on Advances to Non-Qualified Thrift Lender Members and the Stock Subscription Requirements for Members
8/27/1991
1991-GC-18: Treatment of Federal Home Loan Bank Advance Participation Transactions Under the Proposed Master Participation Agreement
8/1/1991
1991-GC-17: Pricing Limitations on Federal Home Loan Bank Advances
7/22/1991
1991-GC-16: Cash Collateral For Letters of Credit
7/11/1991
1991-GC-13: Availability of Offset to Federal Home Loan Bank on Cancellation of Departing Member’s Capital Stock
1991-GC-14: Authority to Waive the Six-Month Waiting Period Under Section 6(e) of the Federal Home Loan Bank Act Before Withdrawal From Federal Home Loan Bank Membership
7/1/1991
1991-GC-12: Federal Home Loan Bank Letter of Credit Enhancements of Tax-Exempt Bonds Under Section 149 of the Internal Revenue Code
6/14/1991
1991-GC-15: Proper Treatment of Federal Home Loan Bank (Bank) Capital Stock Held by a Receiver of a Bank Member
6/3/1991
1991-GC-10: Application of 20 Percent Maximum Subsidy Rule to Approved 1990 Affordable Housing Program (AHP) Projects
1991-GC-11: Proposed Change in REFCorp Expense Variable for Affordable Housing Program (AHP) Calculation Formula
5/17/1991
1991-GC-09: Interpretation of “Prior Year” in the Shortfall Formula for REFCorp Interest Payments
5/7/1991
1991-GC-08: Legal Issues Raised By Draft Community Support Regulations
5/3/1991
1991-GC-06: Federal Home Loan Banks Standby Letters of Credit Authority
1991-GC-07: Secondary Mortgage Market Opinions
5/1/1991
1991-GC-05: Minimum Stock Requirement for Election of Federal Home Loan Bank Directors
4/18/1991
1991-GC-04: Use of Collateralized Mortgage Obligations (CMOs) to Meet the 10% Federal Home Loan Bank Membership Eligibility Requirement in Section 4(a)(2)(A) of the Federal Home Loan Bank Act
4/10/1991
1991-GC-03: Authority to Set Salaries of Federal Home Loan Bank Officials
2/18/1991
1991-GC-02: Proposed Changes to Monthly Interest Rate Survey (MIRS)
2/7/1991
1991-GC-01: Treatment of Outstanding Affordable Housing Program (AHP) Advances Upon Termination of Membership
6/6/1990
1990-GC-01: Affordable Housing Program (AHP) Funding Issues
