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The GSE Public-Private Hybrid Model Flunks Again: This Time It’s the Federal Home Loan Bank System (Part 2)

The Stoop (NYU Furman Center)

18 It is worth noting that the Congressional Budget Office (CBO), from time to time, estimates the value of the subsidies to the FHLB system. It did so, for example, in 2004 to cover the budget year 2003, when its estimate was $3.2 19] See CBO letter to Senator Richard Shelby dated April 8, 2004. billion for fiscal 2024.