Thrift Industry:

Federal Home Loan Bank Board Advances Program

GGD-88-46BR: Published: Mar 9, 1988. Publicly Released: Mar 9, 1988.

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In response to a congressional request, GAO provided statistical data on the Federal Home Loan Banks' (FHLBank) advances program and the thrift institutions participating in the program.

GAO found that: (1) FHLBank system advances increased from $20.2 billion in 1977 to $108.6 billion in 1986; (2) FHLBank lending activities varied by district, with outstanding advances comprising 90.1 percent of total 1986 assets in San Francisco and 58.2 percent in Chicago; (3) thrift borrowing also varied by district, with Seattle thrifts holding advances of about 15.2 percent of total assets in 1986, while Chicago thrifts reported advances equal to 4.0 percent of assets; (4) a larger percentage of low net worth and insolvent thrifts than healthy thrifts held advances; (5) the asset composition of advances holders differed from nonholders, since nonholders' portfolios contained more liquid assets and mortgage-backed securities; and (6) it was unable to determine if thrift institutions used advances to fund specific assets.

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