WASHINGTON, Jan. 16, 2025 (GLOBE NEWSWIRE) -- Ryan Donovan, President and Chief Executive Officer of the Council of Federal Home Loan Banks, the public voice of the Federal Home Loan Bank System (FHLBank System), today released the following statement in response to President Trump’s nomination of Bill Pulte as director of the Federal Housing Finance Agency (FHFA).

“On behalf of the Federal Home Loan Banks, I want to congratulate Bill Pulte on his nomination to be the next director of FHFA and express my gratitude to president-elect Trump for moving so quickly to nominate a director. This highlights the importance of the agency for housing finance and the broader financial system.

“Mr. Pulte has experience in the capital markets and home building and has demonstrated commitment to community development – all of which are of primary importance to the FHLBank System, which for nearly a century has been crucial component of the nation’s housing finance system and stands today as the largest source of private capital support for affordable housing initiatives in the country.

“FHLBanks are vital partners to their members and an essential component of the financial system’s liquidity continuum, promoting economic empowerment, market stability, and housing affordability. Our nation needs the Federal Home Loan Banks, and we look forward to working collaboratively with Mr. Pulte to ensure the FHLBanks remain well-positioned to deliver on their mission of providing liquidity to support housing and community development and continue to play a vital role in the economic health of our country.”

About: The FHLBanks are 11 regionally based, wholesale suppliers of lendable funds to financial institutions of all sizes and many types, including community banks, credit unions, commercial and savings banks, insurance companies, and community development financial institutions. The FHLBanks are cooperatively owned by member financial institutions in all 50 states and U.S. territories. The steady supply of lendable funds from FHLBanks helps U.S. lenders invest in local needs including housing, jobs, and economic growth. The Council of FHLBanks represents all 11 FHLBanks.

CONTACT INFORMATION
Council of FHLBanks
Peter E. Garuccio
202-955-0002 ext. 14
pgaruccio@cfhlb.org

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.