Quick Fact
FHLBank Topeka recently celebrated its 85th anniversary. The Federal Home Loan Bank Act was signed by president Herbert Hoover on July 22, 1932. FHLBank Topeka was established on Oct. 15, 1932. 

Regional Meetings
Each year FHLBank Topeka holds a meeting in each of its four states for the members of that state. These half-day meetings are free to members. This year we offered economic updates from economists in their area, as well as information about FHLBank Topeka products and services. We hosted members in Littleton, Colo., Omaha, Neb., Wichita, Kan., and Edmond, Okla., in 2017.

Oklahoma Member, InterBank, Supports Local Schools and Students 
InterBank of Oklahoma City has a passion for education. Staff members volunteer in schools throughout Oklahoma and Texas to better the future, one toy at a time.

“We have coloring books and piggy banks and we talk to kids about saving money,” said Banking Officer Paul Navarro, who oversees the institution’s community service efforts. “We’ve had 100% participation (by our branches), and it makes a difference. We’re really reaching the students.”

InterBank’s “How Money Works” program targets first- through third-graders to learn the basics of finance including the functions of a bank, wants vs. needs and how money is made. Other smaller programs for older students focus on advanced concepts like mortgage payments and living on a budget.

While volunteers work with students in the classroom, InterBank is also able to support local schools in a more fiscal manner. Public entities, such as school districts and municipalities, look to InterBank to help protect deposited funds. Read more about InterBank and their support of local schools.

Committed to Diversity
FHLBank Topeka is partnering with ArtsCONNECT to fund a mural commemorating the 1954 landmark Brown v. Board of Education decision. Work on the mural will begin in spring 2018. 

Tax Reform
While the FHLBanks and our members continue to track GSE reform measures and other regulatory relief efforts moving forward, there is perhaps no topic that will have a greater impact on our membership as quickly as the comprehensive tax reform packages emerging in Congress.

Above all, the financial services industry will undoubtedly benefit should corporate rates be lowered to 20%. However, our members also anticipate the path to reform within the confines of the budget resolution means the “pay-fors” in any scenario will dictate how the industry ultimately views a reform package.

Among the various provisions included in early versions of 2017 reform or other packages in previous years, these are a few we’ll be taking particular interest in observing:

• FDIC premium deduction phase-outs or eliminations
• Treatment for S Corporations
• New taxes on financial transactions as cited in a 2016 CBO report that would have imposed a tax on the purchase of most securities and on transactions involving derivatives.
• New taxes on liabilities of banks and non-bank SIFIs over certain thresholds.

As a cooperative, FHLBanks share our members’ prosperity in a very tangible way. We always strive to serve as a conduit to Congress for a wide swath of the financial services industry. With change on the horizon, we will remain engaged with our membership to bolster their advocacy efforts, but we also hope you will continue to consider us a resource in helping to facilitate this process and share your news with our members.

Trips to the Hill
One of the ways we work to stay connected to our members and their advocacy efforts is joining large group visits to Washington. This year, FHLBank Topeka was pleased to join both the Oklahoma Bankers Association, as well as the Colorado Bankers Association in Washington for their annual visits. Both trips provided useful insight from the Congressional delegation in both states, and provided an opportunity for bankers to share their stories not only with elected officials, but agency heads at the Federal Reserve Board, Department of the Treasury, OCC, FDIC, CFPB and FHFA. These were productive exchanges, and while the industry remains largely optimistic, it’s clear that the complexion of local banking particularly in our rural regions is rapidly evolving, which is why this is a critical time for Congress to be in tune with their local lenders. 

Holiday Reception
Holiday parties are around the corner and we know you will want to add our holiday reception to your calendar. Join us Monday, Dec. 4, 2017 from 5 p.m. to 8 p.m. at Sonoma Restaurant. Click here for more details.

Federal Home Loan Banks Pledge $2 Million for Hurricane Relief
One of our core and critical missions is serving as a link between the private and public sector with housing as a primary nexus. In that spirit, in the last two months, the FHLBanks have established $2 million in relief funds to support communities affected by the recent hurricanes. These funds will help communities in Texas, the Gulf Coast, Florida and areas in the southeast U.S., Puerto Rico and the U.S. Virgin Islands. The FHLBank of Dallas, whose district includes the states most affected by Hurricane Harvey, announced a $1 billion commitment in low-cost loans and launched a $7 million grant program to address the immediate needs of its members and their communities across the Gulf Coast region stricken by the historic storm. The FHLBank of New York is expected to announce soon its plans to address the devastation caused by Hurricane Maria. Read more about what FHLBanks are doing to help with hurricane relief efforts.

Ryan Gilliland, VP, Government Relations Officer
785.438.6010  |ryan.gilliland@fhlbtopeka.com

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