At last, an interim reality check. Responses to the FHFA’s Request for Input (RFI) on the FHLB Mission are due by Monday, July 15th, and we’ll be able to see if the FHLBanks have been influenced by this blog, and other similarly minded research reports, academic papers and opinion pieces.
I’m not optimistic. Recent fluff pieces by the FHLBanks and the Council keep beating the same drum – claiming success on all fronts. But this RFI is a more serious undertaking, so some hope remains. Plus, we’ll get the thoughts of many others too.
I and many others have shown the status quo is not acceptable. The FHLBanks position that throwing another nickel of each dollar of profit in the housing and community development till is sufficient. It is not.
But I get ahead of myself, I can wait and see what the formal response has to say, and then opine, and I will.