U.S. extends credit facility for Federal Home Loan Banks:

09/8/2008 | Bloomberg

The Treasury will allow the 12 Federal Home Loan Banks to borrow through a secured credit facility through the end of 2009. James Lockhart, director of the Federal Housing Finance Agency, said the banks are "very unlikely" to need to tap the facility because their capital reserves are much larger than those of Fannie Mae and Freddie Mac and because most of the lenders are profitable.

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