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ExpectMore.govExpectMore.gov home pageEXPECT FEDERAL PROGRAMS TO PERFORM WELL, AND BETTER EVERY YEAR.
 
Program Assessment

Program

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Federal Housing Finance Board

The purpose of the program is to ensure the safety and soundness of the 12 Federal Home Loan Banks so they can serve as a reliable source of funding and liquidity for the nation's housing finance and community investment needs. The Finance Board achieves this through supervision, mission oversight, and capital oversight.

Rating

What This Rating Means

NOT PERFORMING
Results Not Demonstrated

A rating of Results Not Demonstrated (RND) indicates that a program has not been able to develop acceptable performance goals or collect data to determine whether it is performing.
  • The program has not demonstrated results because it has not reported performance data regarding its performance measures.
  • The Finance Board has powers similar to national bank regulators, including: the ability to liquidate or reorganize a Federal Home Loan Bank, independent litigation authority, and the authority to remove a director, officer, agent, or employee of the Federal Home Loan Banks.
  • Independent evaluations of the Finance Board have provided mixed results. A 2006 Inspector General report noted that examiner guidance needed improvement. The most recent GAO evaluation of the Affordable Housing Program found that while the program leveraged $3 billion in public and private resources in its first 4 years, several FHLBanks have been cited for deficiencies in selecting projects.

Improvement Plan

About Improvement Plans

We are taking the following actions to improve the performance of the program:

  • Proposing to abolish the Federal Housing Finance Board, and replace it with a new regulator for the Federal Home Loan Banks, Fannie Mae, and Freddie Mac.

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