Federal Home Loan Bank of Seattle Announces S&P Ratings Action
News Release: July 2, 2010
Contact: Connie Waks
206.340.2305
Seattle – Standard & Poor’s Ratings Services (S&P) today announced that
it affirmed the Federal Home Loan Bank of Seattle’s (Seattle Bank’s) AA+/A-1 counterparty
credit rating and revised the bank’s outlook to negative. According to S&P, “the
ratings on FHLB-Seattle include a three-notch uplift from its stand-alone credit
profile,” under S&P’s government-related enterprise methodology.
The Seattle Bank is rated Aaa by Moody’s Investors Service.
About the Seattle Bank
The Federal Home Loan Bank of Seattle is a financial cooperative that provides liquidity,
funding, and services to enhance the success of its members and support the availability
of affordable homes and economic development in the communities they serve. Our
funding and financial services enable approximately 370 member institutions to provide
their customers with greater access to mortgages, commercial lending, and affordable
housing. The Seattle Bank commits 10 percent of its annual profits to help fund
affordable housing and homeownership.
The Seattle Bank serves eight states, American Samoa, Guam, and the Northern Mariana
Islands. Our members include commercial banks, credit unions, thrifts, industrial
loan corporations, and insurance companies.
The Seattle Bank is one of 12 Federal Home Loan Banks in the United States. Together,
the Federal Home Loan Banks represent one of the country’s largest private sources
of liquidity and funding for community financial institutions, as well as funding
for affordable housing.
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