CINCINNATI – The Federal Home Loan Bank of Cincinnati announced the resumption of its American Dream Homeownership Challenge, which funneled hundreds of thousands of dollars in downpayment grants to low-income and handicapped borrowers. The program was suspended last May amid concerns that regulators would boost net capital standards for the 12 FHLBs, requiring the bank to hold on to more of its capital. The Cincinnati Bank was the most ardent opponent of the capital proposal, which was shelved indefinitely by the FHLB regulator, the Federal Housing Finance Board. The grants will once again be awarded to customers/members of the Cincinnati Bank’s 741 member banks and credit unions.
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