In this report, we assess the strategic implications of FHFA’s initial proposal on ways to tighten FHLB membership and mission. The ANPR reflects DeMarco’s determination to “refresh” FHLB membership, although it’s just an opening step towards reforming GSEs facing an uncertain future in still more immediate ways.

The full report is available to subscription clients.  To find out how you can sign up for the service, click here.

 

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