Community Bankers Association of Illinois

Finance Board Eases Restrictions on Chicago FHLB

The Board of Directors of the Federal Housing Finance Board (Finance Board) adopted an amendment on July 23, 2008 to the consent order to cease and desist (consent order) against the Federal Home Loan Bank of Chicago (Chicago Bank), which was originally issued on October 10, 2007. The amendment will permit the Chicago Bank to repurchase or redeem newly-issued capital stock to support new advances, subject to certain conditions set forth in the order.

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