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Performance and Accountability Report ​
This annual report describes FHFA's accomplishments, as well as challenges, the agency faced in meeting the strategic goals and objectives during the past fiscal year.
FHFA Values​​​​​                ​​Fairness​​​We value varied perspectives and thoughts and treat others with impartiality.​​​​Accountability​We are responsible for carrying out our work with transparency and professional excellence.​Integrity​We are committed to the highest ethical and professional standards to inspire trust and confidence in our work.​Respect​We treat others with dignity, share information and resources, and collaborate. 
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Annual Report to Congress
Read about the agency’s 2022 examinations of Fannie Mac, Freddie Mac and the Home Loan Bank System.
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Submit comments and provide input on FHFA Rules Open for Comment by clicking on Rulemaking and Federal Register.​
 
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Conservatorship of Fannie Mae       and Freddie Mac​​
As conservator, FHFA is focused on ensuring that each Enterprise builds capital and improves its safety and soundness. 
Conservatorship ​Performance Goals​
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Op​​erate the bu​​sines​s in a safe a​nd sound manner.

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​​​​​​​​​​Prom​ote su​​stainable and equitable access to affordable housing.
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2023 Scorecard​
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Downloadable Data ​& Data Reports​​
FHFA experts provide reliable data, including all states, about activity in the U.S. mortgage market through its House Price Index, Refinance Report, Foreclosure Prevention Report, and Performance Report.​ 
House Price Index Rele​ase Dates​​​See HPI Release Dates for​ 2023 and 2024​​​ 
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FHFA economists and policy experts provide reliable research and policy analysis about critical topics impacting the nation’s housing finance sector. Meet the experts...​
 
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                                                                                    Federal Home Loan Bank System                                                    Fannie Mae & Freddie MacFederal Home Loan Bank SystemFHLB System Rulemaking & Federal RegisterAdvisory BulletinsReportsAbout FHLBank SystemExaminer ResourcesLegal Documents & SuspensionsRulemaking and Federal RegisterAdvisory BulletinsDodd-Frank Act Stress TestsLIBOR TransitionHome / Supervision & Regulation / Federal Home Loan Bank SystemFederal Home Loan Bank System
 

FHFA is responsible for ensuring that the Federal Home Loan Banks operate in a financially safe and sound fashion, remain adequately capitalized and able to raise funds in the capital markets, and operate in a manner consistent with their housing finance mission. 

To carry out these statutory duties, FHFA has implemented a program of FHLBank supervision to conduct on-site annual examinations and off-site monitoring of the FHLBanks and the Office of Finance.    

 
Examination and Supervision
FHFA examines each FHLBank and the Office of Finance annually.       We have designated a separate examiner-in-charge for each FHLBank and the Office of Finance who serves as the principal point of contact for the management of examination issues at the assigned FHLBank.

Annual examinations are conducted by an examiner-in-charge and a team of examiners plus financial analysts, economists, and accountants.       In addition, our examiners visit the FHLBanks between examinations to follow up on examination findings and discuss emerging issues. 

FHFA examiners collaborate with FHFA analysts, modelers, economists, accountants, and attorneys in carrying out the supervision of the FHLBanks.

Our off-site monitoring program includes reviews of monthly and quarterly financial reports and information submitted to FHFA, FHLBank board and committee minutes, data on FHLBank investments, and financial statements and reports filed with the Securities and Exchange Commission.

We also monitor debt issuance activities of the Office of Finance and track financial market trends. We review FHLBank documents, such as the board of directors’ compensation packages for each FHLBank, and analyze responses to a wide array of periodic and ad hoc information and data requests, including an annual survey of FHLBank collateral and collateral management practices, data on collateral securing advances made to individual insurance company members, unsecured credit data, liquidity, and periodic data on the FHLBanks' holdings of private-label MBS.

Section 20 of the Federal Home Loan Bank Act (12 USC 1440) requires each Federal Home Loan Bank (FHLBank) to be examined at least annually.

 

Learn more about how FHFA conducts its examinations by reading our          Examination Manual and our Housing Finance Commission Program.

 
A Risk-based Approach
FHFA examiners carry out a risk-based safety and soundness supervision program that assesses the FHLBanks’ condition and performance, governance, credit risk, market risk, and operational risk. These interdependent assessments provide FHFA with the basis for assigning a composite examination rating. The Division of FHLBank Regulation provides oversight and ensures coordination among all mission-critical examination and monitoring functions. These functions include programs for safety and soundness examinations, Affordable Housing Program (AHP) examinations, examination and supervisory policy and program development, FHLBank analysis, risk modeling, risk monitoring and information management, and risk analysis and research. Each of these programs contributes to a comprehensive assessment of the safety and soundness and the AHP effectiveness of the FHLBanks. 

 

FHFA examiners use a risk-based approach to supervision. Risk-based supervision is designed to
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identify existing and potential risks that could adversely affect a regulated entity,
 
-  evaluate the overall integrity and effectiveness of each regulated entity’s risk management systems and controls, and 
-  determine compliance with laws and regulations applicable to the regulated entity. 

 
Communicating and Obtaining Results
Examiners communicate all findings to management and any matters requiring attention to the FHLBank’s board of directors and management. In addition, examiners obtain a commitment from the board and management to correct significant deficiencies in a timely manner and then verify the effectiveness of corrective actions. FHFA’s examination ratings system is known as **CAMELSO.**

 

Historical Information: 2008 and Before 
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