Community Support Review: Opportunity for Public Comment on Member Banks' Activities
The Federal Home Loan Bank of San Francisco and the Federal Housing Finance Agency (FHFA) are inviting public comments on the community support activities of our member banks during the FHFA's Community Support Review of individual members.
We encourage nonprofit housing developers, community groups, and all other interested parties, to take this opportunity to provide comments to the FHFA.
The Community Support Requirements regulation (12 CFR 1290) requires all Federal Home Loan Bank member financial institutions to document their community support activities to the FHFA once every two years, by completing a Community Support Statement form on the FHFA's website.
To maintain access to long-term Federal Home Loan Bank advances and Community Programs, Bank members must meet certain standards of community investment or service. In its Community Support Review, FHFA takes into account the member’s performance under the Community Reinvestment Act of 1977 (CRA) and the member’s record of lending to first-time homebuyers.
To ensure consideration by FHFA, submit comments to the FHFA at #HMGCommunitySupportProgram@fhfa.gov or by fax at (202) 777-1209 by March 24, 2023.
Members subject to review during this cycle are required to complete and submit their Community Support Statement before October 31, 2023. The Community Support Statement will be available beginning April 3, 2023.