Coalition Calls on Congress to Expand Federal Home Loan Banks’ Affordable Housing Program Contributions

Over sixty national and local organizations signed on to a letter urging Congressional action to to require that Federal Home Loan Banks (FHLBs) devote at least 30 percent of their annual net income to support housing and community development, including no less than 20 percent on Affordable Housing Program (AHP) contributions. Given FHLBs strong financial performance, expanding their support of affordable housing and community development is practical and necessary, ensuring they remain aligned with their mission while addressing the housing crisis. Legislative action to increase these contributions would help boost our nation's housing supply and meet critical community economic development needs.