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Can the Banks standby letters of credit be used to support non-housing related tax-exempt bonds?

April 26, 2017Bank bonds credit letters non-housing standby support tax-exempt Used

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Can the Banks standby letters of credit be used to support non-housing related tax-exempt bonds?

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Recent federal legislation has made it possible for member institutions to use FHLBank standby letters of credit to support non-housing related tax-exempt bonds until December 31, 2010. For more information, see FHLBank Letters of Credit to Support Community Development.