Activity continued to increase at the Federal Home Loan Banks.
On Sept. 30, advances outstanding stood at $822 billion, climbing from $769 billion in August, the Office of Finance announced today. August advances also rose from the prior month.
The FHLB of Boston reportedly accounted for $56.2 billion of the advances, while the FHLB of Cincinnati said its outstanding advances ended September at $53.6 billion. In New York, the FHLB reported advances of $74.5 billion outstanding.
Consolidated obligations outstanding ended the month at $1.149 trillion, climbing $61 billion from the prior month, according to the report on the FHLB, a government-sponsored enterprise.
"The primary business of the FHLBanks is to provide members with collateralized loans and other credit products which support primary liquidity in the U.S. housing market," the report said. "The current FHLBank membership is comprised of virtually all types of regulated financial institutions, including commercial banks, savings associations, thrifts, credit unions and insurance companies."
FHLB reports more than 8,100 member institutions.