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FHLB Council President: Liquidity Letter Written at Request of CU Members

FHLBs say credit union members have been asking them to seek inclusion as emergency liquidity providers.

By Heather Anderson | Updated on February 05, 2013

John von Seggern, president/CEO of the Council of Federal Home Loan Banks, told Credit Union Times on Tuesday that a Jan. 31 letter signed by all 12 FHLB presidents urging the NCUA to include them as an option in the final emergency liquidity rule was prompted by credit unions.

“They are encouraging us to make sure we are active in this process,” von Seggern said of the 900-some credit unions that are FHLB members. “The NCUA is going through the rules process and we want to make them understand we will, have and can provide the liquidity our members need.”

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