Title: Recognizing the Federal Home Loan Bank of San Francisco and the contributions of Lawrence Parks and Timothy Simons.
Policy area: Finance and Financial Sector

Summary:
Recognizes the importance of the Federal Home Loan Bank of San Francisco in providing affordable housing and community investment.

[Congressional Bills 115th Congress]
[From the U.S. Government Publishing Office]
[H. Res. 895 Introduced in House (IH)]

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115th CONGRESS
  2d Session
H. RES. 895

    Recognizing the Federal Home Loan Bank of San Francisco and the 
          contributions of Lawrence Parks and Timothy Simons.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                              May 15, 2018

  Ms. Maxine Waters of California submitted the following resolution; 
       which was referred to the Committee on Financial Services

_______________________________________________________________________

                               RESOLUTION


 
    Recognizing the Federal Home Loan Bank of San Francisco and the 
          contributions of Lawrence Parks and Timothy Simons.

Whereas the Federal Home Loan Bank System was established by Congress by the 
        Federal Home Loan Bank Act of 1932;
Whereas the mission of the Federal Home Loan Bank System is to provide a 
        reliable source of funding for housing finance and community investment;
Whereas the Federal Home Loan Banks are independent cooperatives that are 
        privately capitalized and owned by their members;
Whereas the membership of the Federal Home Loan Banks consists of thousands of 
        financial institutions big and small from all 50 States, U.S. 
        possessions and territories, including credit unions, non-depository 
        CDFIs, savings and loan associations, insurance companies, and banks;
Whereas the Federal Home Loan Bank of San Francisco is one of 11 Federal Home 
        Loan Banks;
Whereas the Federal Home Loan Bank of San Francisco is one of the largest banks 
        in the system with $109.2 billion in assets;
Whereas the Federal Home Loan Bank of San Francisco's jurisdiction covers 
        California, Nevada, and Arizona;
Whereas the Federal Home Loan Bank of San Francisco is owned by 336 institutions 
        headquartered in California, Nevada, and Arizona;
Whereas the Federal Home Loan Bank of San Francisco is required to dedicate 10 
        percent of its net income to an Affordable Housing Program;
Whereas the Federal Home Loan Bank of San Francisco distributes the bulk of its 
        AHP funding through a competitive process, through which grantees can 
        fund the purchase, construction or rehabilitation of affordable rental 
        or owner-occupied housing for households at or below 80 percent of area 
        median income;
Whereas since 1990 the Federal Home Loan Bank of San Francisco has distributed 
        $1 billion in AHP funding that have gone to benefit 132,000 households;
Whereas in 1998, Lawrence Parks joined the staff of the Federal Home Loan Bank 
        of San Francisco;
Whereas in 2004, Timothy Simons joined the staff of the Federal Home Loan Bank 
        of San Francisco;
Whereas Mr. Parks currently serves as Senior Vice President, External and 
        Legislative Affairs of the Federal Home Loan Bank of San Francisco;
Whereas Mr. Simons currently serves as the Vice President and Senior Compliance 
        Officer of the Legislative and Regulatory Affairs Unit of the Federal 
        Home Loan Bank of San Francisco;
Whereas Mr. Parks and Mr. Simons provided Congress with information on diversity 
        in the financial services industry;
Whereas in 2008, Congress passed the Housing and Economic Recovery Act;
Whereas section 1116 of the Housing and Economic Recovery Act created an Office 
        of Minority and Women Inclusion at Fannie Mae, Freddie Mac, and the 
        Federal Home Loan Banks;
Whereas in 2016, the Federal Home Loan Bank of San Francisco announced that Los 
        Angeles will be one of five cities participating in its Quality Job 
        Growth and Business Expansion Financing Initiative, which will provide 
        $40 million in grants to support job development and small to mid-tier 
        businesses;
Whereas Mr. Parks and Mr. Simons developed this program and were critical in its 
        implementation;
Whereas following the announcement of this program, Mr. Parks and Mr. Simons 
        held a series of roundtables in the five participating cities to discuss 
        best practices for growing quality jobs in the region; and
Whereas one such roundtable took place at Los Angeles Southwest College: Now, 
        therefore, be it
    Resolved, That the House of Representatives--
            (1) recognizes the importance of the Federal Home Loan Bank 
        of San Francisco in providing affordable housing and community 
        investment to the people of Los Angeles; and
            (2) recognizes the contributions of Mr. Parks and Mr. 
        Simons to the Federal Home Loan Bank of San Francisco.
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