WASHINGTON -- Membership in the Federal Home Loan Bank System has topped 4,000, the Federal Housing Finance Board said on Wednesday.
Favorable Loan Terms
The increase is largely due to an escalating number of commercial banks joining the Home Loan Bank System. The system had 3,217 thrift members in 1989, when commercial banks, credit unions, and insurance companies were allowed to join.
The government-sponsored enterprise provides advances to its member institutions on flexible terms and at rates close to those on Treasuries. Members must buy stock in the system to join, and most thrifts are required to belong.