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Federal Home Loan Bank System Provides Billions to Banks
Bloomberg Businessweek
The Incentivization of Banks to Grow Their Membership
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The San Francisco FHLB was created in the 1930s as a public-subsidized private institution. The banks who are members pay into it a little bit with stock and then they raise money in the debt market with bonds tax free. There's a lot of government benefits for a system that really should probably be private, he says.
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