The Federal Home Loan Bank of Chicago Joins Industry Coalition
CHICAGO, March 30 /PRNewswire/ -- ChicagoFIRST announced today that the
Chicago Federal Home Loan Bank has joined their organization, an industry
coalition that addresses homeland security issues requiring a common response
by Chicago's financial community. The Bank will collaborate with more than 16
other premier financial services institutions that comprise ChicagoFIRST.
"As a primary source of mortgage funding for financial institutions
throughout Illinois and Wisconsin, the Bank welcomes the opportunity that
ChicagoFIRST provides to enhance our ability to serve our customers in
emergency situations and to cooperate with other financial institutions on
common issues, such as business continuity and homeland security," said
Richard Kurzynski, business continuity coordinator of the Chicago FHLB.
"ChicagoFIRST serves as an excellent conduit to federal, local and state
emergency agencies, which strengthen the resources the Bank can draw upon in a
time of crisis."
"We are pleased to have the Chicago FHLB join in partnership with many of
the area's top financial institutions," said Brian Tishuk, executive director
of ChicagoFIRST. "Their participation in our coalition will further efforts
to strengthen Chicago's financial community."
ChicagoFIRST was formed in July 2003 by Chicago-area financial
organizations and seeks to enhance the resiliency of the Chicago financial
community by addressing homeland security issues requiring a coordinated
response on the part of financial institutions. ChicagoFIRST works with
government agencies to better understand their approaches to various crises,
to express the importance of Chicago's financial community regionally,
nationally, and globally; and to ensure resilience for this community in the
event of a crisis.
The Chicago Federal Home Loan Bank is a government sponsored enterprise
providing housing finance to over 880 member commercial banks, savings
institutions, credit unions and insurance companies in Illinois and Wisconsin.
With more than $85 billion in assets, the Bank offers floating and fixed-rate
loans, the Mortgage Partnership Finance(R) Program and related products to
finance home mortgage portfolios. The Bank also offers funding for affordable
housing and community development activities.
"Mortgage Partnership Finance" is a registered trademark of the Federal
Home Loan Bank of Chicago.
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