Report on Collateral Securing Advances at the Federal Home Loan Banks

摘要

This report discusses the collateral that secures outstanding advances at the Federal Home Loan Banks (FHLBanks) as of December 31, 2007. It is based upon an annual survey conducted by the Federal Housing Finance Agency's Division of Federal Home Loan Bank Regulation, herein known as the Collateral Data Survey. Collateral Data Survey results are being released for the first time to the Committee on Banking, Housing, and Urban Affairs of the Senate and to the Committee on Financial Services of the House of Representatives in response to Section 1212 of the Housing and Economic Recovery Act of 2008. The purpose of the Collateral Data Survey is to better understand the composition of the collateral on which the FHLBanks rely to secure advances. The survey does not collect information on the actual levels of collateral securing advances, but instead collects information on the minimum levels of collateral required by the FHLBanks' policies. The responsibility for establishing an FHLBank's collateral policies rests with each FHLBank's board of directors, consistent with statutory and regulatory requirements. Variations in collateral policies between FHLBanks exist due to differences in the types of members at each FHLBank and each FHLBank's risk tolerance level, among other factors.