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Program Assessment
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Program
View Assessment Details
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Federal Housing Finance Board
The purpose of the program is to ensure the safety and soundness of the 12 Federal Home Loan Banks so they can serve as a reliable source of funding and liquidity for the nation's housing finance and community investment needs. The Finance Board achieves this through supervision, mission oversight, and capital oversight.
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Rating
What This Rating Means |
NOT PERFORMING Results Not Demonstrated
A rating of Results Not Demonstrated (RND) indicates that a program has not been able to develop acceptable performance goals or collect data to determine whether it is performing.
- The program has not demonstrated results because it has not reported performance data regarding its performance measures.
- The Finance Board has powers similar to national bank regulators, including: the ability to liquidate or reorganize a Federal Home Loan Bank, independent litigation authority, and the authority to remove a director, officer, agent, or employee of the Federal Home Loan Banks.
- Independent evaluations of the Finance Board have provided mixed results. A 2006 Inspector General report noted that examiner guidance needed improvement. The most recent GAO evaluation of the Affordable Housing Program found that while the program leveraged $3 billion in public and private resources in its first 4 years, several FHLBanks have been cited for deficiencies in selecting projects.
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Improvement Plan
About Improvement Plans |
We are taking the following actions to improve the performance of the program:
- Proposing to abolish the Federal Housing Finance Board, and replace it with a new regulator for the Federal Home Loan Banks, Fannie Mae, and Freddie Mac.
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