Reflections from the Advisory Council
My goodness, when it gets to be time to reflect on the past year with the Federal Home Loan Bank of Chicago’s Community Investment Advisory Council, it seems like we just started the year. This year has been especially busy and important as members of the Advisory Council and Bank leadership consider potential modernization of the Affordable Housing Program (AHP) regulations. This same dialogue is happening at each of the other Federal Home Loan Banks across the nation. It is important to make appropriate updates based on 25 years of experience with AHP while preserving this unique and valuable resource for affordable housing needs. We will keep you posted on any developments.

In the Federal Home Loan Bank of Chicago’s 2014 Annual Report, we highlighted the many ways that our member institutions strive to be “the solution” to challenges and opportunities faced by local businesses, homebuyers, families, and employees in rural, urban, and suburban settings across Illinois and Wisconsin. Each year when the Advisory Council, along with the Bank staff, reviews and refines the Affordable Housing Program Implementation Plan we do so with the mindset of how to have it provide a valuable resource for our members to continue to provide solutions to their community’s housing needs.

We just finished awarding the largest single round of AHP funds, and the Community Investment staff deserves a round of applause for handling this large round with 146 applications requesting over $77 million. The AHP funds are greatly needed in our district, but we look forward to a strong 2016.

In Service,

Diane Schobert, Chair
Mary Patoka, Vice-Chair
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Federal Home Loan Bank of Chicago
200 East Randolph Drive
Chicago, IL 60601
www.fhlbc.com
This newsletter contains forward-looking statements which are based upon our current expectations and speak only as of the date hereof. These statements may use forward-looking terms, such as "anticipates," "believes," "expects," "could," "plans," "estimates," "may," "should," "will" or their negatives or other variations on these terms. We caution that, by their nature, forward-looking statements involve risk or uncertainty, that actual results could differ materially from those expressed or implied in these forward-looking statements, and that actual events could affect the extent to which a particular objective, projection, estimate, or prediction is realized. These forward-looking statements involve risks and uncertainties including, but not limited to, the risk factors set forth in our periodic filings with the Securities and Exchange Commission, which are available on our website at www.fhlbc.com.

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