Chicago FHLB Ends StockBuyback
CHICAGO - (10/19/05) -- The Federal Home Loan Bank ofChicago said Tuesday its board voted to discontinue its buyback ofvoluntary, or excess, stock that it commenced just eight monthsago. The termination of the buyback, part of a plan aimed atfunding the secondary Mortgage Partnership Finance Program, willhelp ensure that the regional FHLB retains an adequate capitalbase. The Chicago bank also announced a 3.75% dividend for thethird quarter. The dividend will be paid to the Chicago bank's 880members, including 80 credit unions.