Federal Home Loan Bank System: Reforms Needed to Promote Its Safety, Soundness, and Effectiveness (Chapter Report, 12/08/93, GAO/GGD-94-38). In response to the savings and loan disaster, Congress overhauled federal regulation of the thrift industry. Many of these changes directly affected the Federal Home Loan (FHL) Bank System, which was established in the 1930s to facilitate mortgage lending to homebuyers. This report answers the following questions: Can the FHL Bank System pay its assessment for affordable housing and for cleaning up the savings and loan mess while carrying out its mission? What are appropriate capital standards for the FHL Bank system? Should the terms of membership in the FHL Bank System be changed? What is, and what should be, the role of the FHL Bank system in affordable housing, and how would system consolidation affect this? Should the FHL Bank System be allowed to offer new products and services? GAO also discusses needed changes in the corporate governance and regulation of the system. --------------------------- Indexing Terms ----------------------------- REPORTNUM: GGD-94-38 TITLE: Federal Home Loan Bank System: Reforms Needed to Promote Its Safety, Soundness, and Effectiveness DATE: 12/08/93 SUBJECT: Government sponsored enterprises Financial management systems Federal corporations Regulatory agencies Mortgage loans Banking regulation Insured commercial banks Federal aid for housing Mortgage programs Financial institutions IDENTIFIER: Federal Home Loan Bank Modernization Act of 1993 FHFB System 2000 Plan RTC Affordable Housing Program Bank Insurance Fund RTC Community Investment Program Farm Credit System Savings Association Insurance Fund BIF SAIF ************************************************************************ We regret that the full text of this item is presently unavailable. See the GAO FAQ - Section 2.0 for printed copy ordering information. The FAQ is automatically retrieved with all WAIS search results or can be obtained by sending e-mail to: [email protected]