Good Morning and welcome to our witness, Chairman Morrison.
It is my hope that we can use this hearing to discuss the future of the Federal Home Loan Bank system. While I know there are opinions to the contrary, I am one of those who believes that the Federal Home Loan Banks are doing a good job of fulfilling their housing finance mission. I know that in Nebraska, commercial banks and thrifts rely on our district's Home Loan Bank as one important source of liquidity. Still many of the smaller institutions have a difficult time accessing the system. I would like to explore ways to remedy this situation.
Not since 1989 has there been significant Federal Home Loan Bank legislation passed. While the system is working well, I believe Congress can make improvements and updates to a system that was originally created to serve only the thrift community. The membership of the system has changed, and today a substantial majority of members are commercial banks. However, thrifts continue to hold a majority of the system's advances. I believe it is time to make some needed improvements that recognize these changes.
I commend Chairman Faircloth for taking a lead on this issue, and look forward
to Chairman Morrison's comments.
Home | Menu | Links | Info | Chairman's Page