Reforming the Federal Home Loan Banks

Kathryn Judge is a professor at Columbia Law School and Aaron Klein is a Senior Fellow at the Brookings Institution. They discuss the origins of the Federal Home Loan Banks, the role they played in propping up failing banks in the 2023 regional banking crisis, and their ideas for how the FHLBs can be reformed to better fulfill their public mission to promote housing and community development.

Kate Judge's X: @ProfKateJudge

Aaron Klein's X: @Aarondklein

Lee's X: @leereiners

Related Links:

Comment Letter on FHLB Mission Statemen, Kathryn Judge and Aaron Klein: https://www.brookings.edu/wp-content/uploads/2024/07/Klein-Judge-FHLB-mission-statement-comment-FINALpdf.pdf

Forum on the future of the Federal Home Loan Bank system: Highlights from the Brookings and BU Law event, Aaron Klein, Cornelius Hurley, and Harrison Fregeau: https://www.brookings.edu/articles/forum-on-the-future-of-the-federal-home-loan-bank-system-highlights-from-the-brookings-and-bu-law-event/

How to fix the Federal Home Loan Banks, Kathryn Judge and Aaron Klein: https://www.brookings.edu/articles/how-to-fix-federal-home-loan-banks/

FHLBank System at 100: Focusing on the Future, Federal Housing Finance Agency: https://www.fhfa.gov/sites/default/files/2024-01/FHLBank-System-at-100-Report.pdf