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Comment: Failed US banks' borrowing from Federal Home Loan Banks likely to be added to FHFA system review

By Neil Roland ( April 20, 2023, 20:27 GMT | Comment) -- A US Federal Housing Finance Agency review of the 11 Federal Home Loan Banks will likely be expanded in response to an influential senator’s request that the review include tens of billions in advances to Silvergate, Silicon Valley Bank and Signature Bank shortly before they failed. “The FHL Bank System was created to provide liquidity to sound institutions to facilitate lending,” said Senator Sherrod Brown, head of the Senate Banking Committee. “It was not structured to be a lender of last resort – or of next-to-last resort – for struggling institutions.”A US Federal Housing Finance Agency review of the 11 Federal Home Loan Banks will likely be expanded in response to an influential senator’s request that the review include tens of billions in advances to Silvergate, Silicon Valley Bank and Signature Bank shortly before they failed....

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