Federal Home Loan Banks' Mission Activities Act

# Federal Home Loan Banks' Mission Activities Act (S 1439) **What the Bill Would Do** This bill would modify the rules governing the Federal Home Loan Banks (FHLBs), a network of 11 regional banks that provide funding to mortgage lenders and financial institutions. While the specific details aren't provided in the summary, bills with this title typically aim to expand or clarify what types of activities and lending the FHLBs can engage in to support their stated mission of promoting homeownership and housing finance. **Who It Affects** The bill would primarily impact the FHLBs themselves, the banks and credit unions that use them as funding sources, and potentially homebuyers and mortgage borrowers.

It could also affect the Federal Housing Finance Agency, which oversees these institutions. **Current Status** The bill was introduced by Senator Catherine Cortez Masto (D-NV) in the 119th Congress and is currently in committee, meaning it hasn't advanced to a full Senate vote yet. Without more detailed legislative text, the specific provisions and exact impact of the bill cannot be fully determined.