Chicago FHLBank Declares Dividend

January 21, 2005, 3:00 p.m. EST 1 Min Read

The Chicago Federal Home Loan Bank, which is in the midst of a restatement, has declared a 5.5% dividend for the fourth quarter.The FHLBank paid a 6% dividend in the third quarter, but a 5.5% dividend is the maximum the bank can pay under its supervisory agreement with the Federal Housing Finance Board. The Chicago bank is still weeks away from filing its third-quarter financial statement and a restatement of 2003 earnings, according to spokesman David Feldhaus. The bank is also behind in reporting origination data for its Mortgage Partnership Finance program. The last report showed $7.6 billion in total MPF loan production for the second quarter.

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