JOINT CAPITAL ENHANCEMENT AGREEMENTJoint Capital Enhancement Agreement • March 1st, 2011 • Federal Home Loan Bank of Seattle • Federal & federally-sponsored credit agencies • New York
This Joint Capital Enhancement Agreement (“this Agreement”) is entered into by each of the undersigned Federal Home Loan Banks (each a “Federal Home Loan Bank” and collectively the “Federal Home Loan Banks”) as of the Effective Date provided in this Agreement.
March 1, 2011 Re: FHLBank System Joint Capital Enhancement Agreement Dear Seattle Bank Members,Federal Home Loan Bank of Seattle • March 1st, 2011 • Federal & federally-sponsored credit agencies
This week the Federal Home Loan Bank of Seattle (Seattle Bank) filed a Form 8-K with the Securities and Exchange Commission (SEC) to disclose that its Board of Directors has unanimously agreed to a Joint Capital Enhancement Agreement with the other 11 Federal Home Loan Banks (FHLBanks). The agreement calls for a System Capital Initiative, a plan for each FHLBank to build additional retained earnings and enhance its capital.
