Washington Update

As a government-sponsored enterprise, the Bank works closely with Congress, the administration, the Federal Housing Finance Board, and banking and housing regulators to support the enactment of banking laws and regulations at the federal level that aid the Bank in its operation and the achievement of its federally chartered mission.

The Bank also works closely with local lawmakers, opinion makers, community groups, business leaders, and members in Arizona, California, and Nevada, the three states served by the Bank.

Regulatory Issues

• On June 23, 2008, the Bank filed a comment letter (PDF) on the FDIC's interim final Covered Bond Policy Statement (PDF). The Bank’s comment letter addresses the concern that the policy statement could have the unintended effect of discouraging the use of FHLBank advances.

• On June 13, 2008, the Bank filed a comment letter (PDF) on the Federal Housing Finance Board's proposed rule (PDF) on proposed amendments to its Affordable Housing Program regulation.