The government wants suggestions on expanding the ways Federal Home Loan banks promote and finance housing and community development.

In a notice issued by the Federal Housing Finance Board Tuesday, the agency suggested several new ways that the system could meet its congressionally mandated mission.

Options include providing new products targeted to meet low-income housing or community needs; furnishing technical assistance to member institutions; and giving rebates or discounts to member institutions that meet certain housing or community investment goals.

In addition, the agency is seeking input on how it should measure whether the system is achieving its mission. For example, the notice asked whether Federal Home Loan banks should develop annual plans detailing how the institution expects to foster housing finance and community development.

The finance board also asked whether it should issue a policy statement listing nontraditional activities that would help Federal Home Loan banks fulfill their mission.

After the notice appears in the Federal Register, the agency will take comment for 30 days.

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