The Federal Home Loan Banks are an essential source of stable, low-cost funds to financial institutions for home mortgage, small business, rural and agricultural loans. With their members, the FHLBanks represent the largest source of home mortgage and community credit .
Ownership
The 12 banks of the FHLBank System are owned by over 8,000 community financial institutions. Rather than being publicly traded, equity in the FHLBank System is held by these owner/members.
Financials
FHLB borrowing was $545.5 billion during 2003, a 35% increase from 2002. During 2003, total U.S. residential mortgage production reached a record level of $3.8 trillion.
See also
External links
Banks