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)
MARCH 11, 2024
More recently, as part of the FHFA’s review, its director said in public that the FHLB System did benefit from the implied guarantee, saying out loud what everyone already knew. It did so, for example, in 2004 to cover the budget year 2003, when its estimate was $3.2 19 That was a very significant amount 20 years ago.
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