On the recordMarch 19, 2018
I agree with the comments of my colleagues on the need to pass S. 2361 during the 115th Congress. The legislation is narrowly tailored such that it would provide the opportunity for reapplication or continuation of FHLB membership only for those captive entities that meet a series of criteria pertaining to the mission of their parent companies to serve the residential mortgage market. These captive members have proven track records of responsible membership, have contributed to the system, and have invested their capital in the respective FHLBs. Moreover, each and every captive that would be affected by our bill are subsidiaries of financial institutions that are aligned with the overall mission of the FHLBs. I yield to my colleague from Wisconsin, Senator Baldwin.
