In 2023, the Federal Home Loan Banks assisted nearly 65,000 low- or moderate-income households and backed over 400 targeted economic development projects through various programs.
FHFA Director Sandra Thompson emphasized the innovative approaches taken by FHLBanks to address local housing needs, supporting both required and voluntary programs for affordable housing.
The overall recovery of FHLBank earnings is linked to heightened efforts in affordable housing initiatives, marking a significant rise in their financial commitment to the AHP.
FHLBanks' AHP contributions surpassed the mandatory 10% of net income for the first time since 2018, reflecting a renewed focus on addressing affordable housing challenges.
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