WASHINGTON - A bill introduced by Rep. Richard Baker, R-La., to revamp the Federal Home Loan Bank System drew criticism from the Federal Home Loan Bank of New York last week.

In an April 24 letter to House Banking Committee members from New York and New Jersey, New York FHLB President Alfred A. DelliBovi said Rep. Baker's bill could force the system's contribution to the Affordable Housing Program below $100 million.

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