The FHLBank System’s net income was off 10.4% for the full year despite a 29.5% spike in the fourth quarter. The bulk of that decline was due to lower net interest income, which dropped 10.9% in 2019. (Includes data chart.)
The new FHFA director’s whirlwind first week resulted in widespread staffing cuts at the regulator and a dramatic change in leadership at the GSEs. So far, criticism has been muted.
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