Federal Home Loan Bank of San Francisco (FHLBank San Francisco) Research Report

Company Overview

• Name: Federal Home Loan Bank of San Francisco

• Mission: To provide members with reliable access to liquidity, essential financial services, and resources for affordable housing and economic development. This is aimed at building vibrant, equitable, and resilient communities.

• Founded: The Federal Home Loan Bank System was created by Congress in 1932.

• Headquarters: San Francisco, California

• What is the Company Known For: FHLBank San Francisco is a member-driven cooperative, aiding local lenders in fostering strong communities and creating opportunities in Arizona, California, and Nevada. It supports homeownership, finances affordable housing, and drives economic development and neighborhood revitalization.

• Key People:

• Alanna McCargo, President and CEO

• Lori R. Gay, President and CEO, Neighborhood Housing Services of LA County (Board Director)

• F. Daniel Siciliano, Chair of the Board, Stanford Law School Fellow (CodeX)

• Jeffrey K. Ball, President and CEO, Orange County Business Council (Board Director)

• Employees: No information is available

• Revenue: No information is available

Products

1. Liquidity and Advances

• Description: Provides flexible funding options including advances and letters of credit, designed to meet liquidity needs, manage costs, and reduce risk.

• Key Features: Quick and reliable access to funds, AAA/AA+ rating allows low-cost funds.

2. Community Grant Programs

• Description: Offers grants for affordable housing, sustainable homeownership, and economic development.

• Key Features: AHP (Affordable Housing Program) and AHEAD (Economic Development Grants) provide critical funding to underserved communities.

3. Discounted Credit Programs

• Description: Offers discounted community investment products for financing community projects.

• Key Features: Includes Advances for Community Enterprise (ACE) and Community Investment Program (CIP) with low-cost options for financing.

Recent Developments

• New Partnerships and Programs:

• Expansion of support to Community Development Financial Institutions (CDFIs) and State Housing Finance Agencies with enhanced credit and collateral risk policies.

• Improved borrowing terms for longer periods on certain affordable housing projects.

• Grants and Funding Initiatives:

• Awarded $61.8 million in Affordable Housing Program grants in 2024 to create nearly 4,000 affordable housing units across their region.

• Announced $7.3 million in economic development grants under the AHEAD Program for 2024.

• Director Elections:

• Re-elected nonmember directors Lori R. Gay and F. Daniel Siciliano and California member director Jeffrey K. Ball in the 2024 director elections.

• Additional Highlights:

• Commitment to investing up to 15% of annual net profits to mission-aligned initiatives.

• Continued efforts to address racial equity in homeownership and wealth building through various grant programs.

This structured overview provides an insight into the operations, mission, products, and recent strategic activities of FHLBank San Francisco, reflecting its commitment to supporting community development and resilience across its operative regions.