The FHFA report today augurs substantive change -- and soon. If FHFA does what it says it will do re curtailing large borrowers, blocking emergency financing, and greater mission focus, then Bank profitability – already iffy under ordinary circumstances – will suffer. No wonder the report contemplates near-term System consolidation from eleven to as few as eight Banks. More to come in pending FedFin analysis, but shake-up is certain. #FHFA #banks #FHLB #housingsystem https://bit.ly/3MzCacF
