Federal Home Loan Banks Support Competition in Financial System

Statement by John von Seggern, President & CEO, Council of Federal Home Loan Banks


WASHINGTON, April 30, 2012 (GLOBE NEWSWIRE) -- The Federal Home Loan Banks Office of Finance today announced preliminary unaudited first quarter 2012 combined operating highlights. The release showed America's Federal Home Loan Banks to be maintaining a strong and growing capital base, allowing them to lend billions of dollars to their more than 7,700 members nationwide.

The Federal Home Loan Banks' continuing reliability in making favorably priced funding available to all their members demonstrates that they remain one of the best mechanisms for preserving a competitive U.S. financial system. The 12 Federal Home Loan Banks are regional cooperatives that provide community financial institutions, of all sizes and many types, access to the global credit markets so that thousands of local institutions can compete.

That is good for consumers and local businesses because this competition among community lenders creates fair and dependable access to credit. That is critically important in an economy where it is vital to have credit flowing to all of our communities for housing, jobs and economic growth.

The Council of Federal Home Loan Banks logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=11758

CONTACT:David Jeffers