WASHINGTON -- One of the two remaining members of the Federal Housing Finance Board endorsed an amendment sponsored by Rep. Richard Baker, R-La., that would allow commercial banks to increase their borrowing from the Federal Home Loan Bank system..

Although the Clinton administration opposes the amendment, Lawrence U. Costiglio, a member of the finance board, told Rep. Baker in a letter that his legislation would help fulfill housing needs without jeopardizing the system's safety.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.