CINCINNATI, Dec. 20, 2005 (PRIMEZONE) -- The Federal Housing Finance Board's Office of Supervision late Monday approved a fourth-quarter dividend of 5.75 percent per annum for the period October 1, 2005 to December 31, 2005, compared to 4.875 for the third quarter. This dividend will be paid in the form of additional shares of capital stock on December 31, 2005.
The Federal Home Loan Bank of Cincinnati (FHLBank) is a $76 billion, triple-A-rated regional wholesale bank providing financial services for residential housing and economic development to 744 member financial institutions located in the Fifth FHLBank District of Tennessee, Kentucky, and Ohio. The FHLBank has contributed more than $200 million for the creation of almost 34,000 units of lower-income housing through its Affordable Housing Program since 1990. The FHLBank System, including 12 district FHLBanks, was chartered in 1932 by the U.S. Congress to promote housing finance but is wholly owned by its member institution stockholders and does not use taxpayer dollars.