July 30, 2024– I avoided reading the 2023 Impact Report published by the FHLBs in June – pretty sure I knew what it would say and pretty sure it would get under my skin. I was right.
Lots and lots of good stuff – big numbers, nice pictures and a sense of real self-satisfaction by the FHLBs – all 11 of them plus the Council.
I would add just one thing to the report – 2023 profits for the Banks of $6.7 billion – perhaps on page 54 of the report “Selected Data Points”. This would provide context to the big numbers presented throughout the report, would improve the report – transparency is good and might even beg the question, aside from the $180 million of voluntary contributions where did the rest of the profits (97% of the total) go?
Of course, I would do more still, in the report and in actuality – but most of that would be a rehash of my blog posts 1 through 18.