FHLBs’ Affordable Housing Funds Hold Steady in 2019

The Federal Home Loan Banks awarded approximately $458 million in affordable housing program funds in 2019, approximately the same as the year prior, according to a report released today by the Federal Housing Finance Agency. Of the affordable housing funds, more than 46,000 low- or moderate-income households received assistance, including approximately 24,000 very low-income households.

The FHLBs also funded nearly $3.4 billion in housing and economic development advances in 2019 through the Community Investment Program — a 10 percent increase from 2018. Funding for the Community Investment Cash Advance Program totaled $3.1 billion about the same level as in 2018.

Sixty non-depository community development financial institutions were FHLB members by the end of 2019, the same as the year before. Outstanding advances to non-depository CDFIs rose in 2019, totaling $261.6 million. A year prior, nonbank CDFI advances totaled $221.5 million.