Federal Home Loan Bank system's membership, earnings increase.

WASHINGTON -- The Federal Home Loan Bank system's regulator said Wednesday its membership and profits continue to climb last month.

The system finished October with 5,181 members, an increase of 89, the Federal Housing Finance Board said. Of those, 2,089 are thrifts, 2,996 are commercial banks, and the rest are credit unions and insurance companies.

The system earned an adjusted $98 million, up from the $92 million it earned in September. Average total assets in October were $216 billion, up from an average of $162 billion last year.

The bank system is a government-sponsored enterprise created to provide thrifts with a constant source of liquidity for the home loans they make. In 1989, commercial banks were allowed to join the system.

For reprint and licensing requests for this article, click here.
MORE FROM AMERICAN BANKER