News Column

Statement of FHFA Director Melvin L. Watt on Potential Merger of FHLB Seattle and FHLB Des Moines

July 31, 2014

WASHINGTON, July 31 -- Federal Housing Finance Agency issued the following statement by Melvin L. Watt, Director:

aEuros"As the safety and soundness regulator of the Federal Home Loan Bank System, the Federal Housing Finance Agency's role is to ensure that each Bank remains viable and fulfills its mission by supporting home mortgage lending and community investment throughout the United States. As the Federal Home Loan Bank of Seattle and the Federal Home Loan Bank of Des Moines discuss their potential merger, we will work with them to ensure that any agreement will result in a financially strong Bank that supports the interests of all its members. Given the fundamental changes that have occurred in the financial system since the creation of the Federal Home Loan Bank System, FHFA views this potential merger as consistent with the mission of the Federal Home Loan Bank System and with the safe and sound operation of each Federal Home Loan Bank."

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Source: Targeted News Service

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