Some FHLBs hurt by private label securities
The Federal Housing Finance Agency filed its first report to Congress, which indicated that the financial condition and performance of the Federal Home Loan Banks declined last year, due in part to their exposure to private label securities (PLS). Total assets rose to $1.35 trillion for the year; advances made up $928.6 billion of that total after peaking at $1.01 trillion in October. Of the FHL Banks that serve the Midwest, only Indianapolis and Topeka were rated “satisfactory” overall. Chicago posted a $118 . . .
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