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FHFA Could Enhance Its Supervision of the Federal Home Loan Banks by Incorporating Lessons Learned from the Spring 2023 Bank Failures

Submitting OIG: 
Federal Housing Finance Agency OIG
Date Issued: 
Monday, August 19, 2024
Agency Reviewed / Investigated: 
Federal Housing Finance Agency
Submitting OIG-Specific Report Number: 
EVL-2024-003
Location(s): 
Agency-Wide
Type of Report: 
Inspection / Evaluation
Questioned Costs: 
$0
Funds for Better Use: 
$0
Number of Recommendations: 
4
Report updated under NDAA 5274: 
No
View Document: 
AttachmentSize
PDF icon EVL-2024-003.pdf463.45 KB

Related Open Recommendations

Recommendation Number Recommendation Status Significant Recommendation Additional Details
EVL-2024-003-1 Open No
The Division of Federal Home Loan Bank Regulation should issue written guidance on the FHLBanks’ collateral subordination practices.
EVL-2024-003-2 Open No
The Division of Federal Home Loan Bank Regulation should complete the development and implementation of protocols for DBR personnel to follow in times of member distress and failure, including heightened oversight of the FHLBanks and coordination of communication and actions with the appropriate federal and state regulators.
EVL-2024-003-3 Open No
FHFA should update the Examination Manual’s Credit Risk Management module and Advances and Collateral module to include guidance on the review of topics and issues related to the Spring 2023 bank failures and otherwise incorporate lessons learned from the 2023 examinations of member credit risk management.
EVL-2024-003-4 Open No
The Division of Federal Home Loan Bank Regulation should adopt a process to ensure the appropriate examination coverage of all topics within its Examination Manual guidance.
Displaying 4 of 4 Recommendations