FHLBank Pittsburgh, one of twelve
FHLBanks, is a government-sponsored enterprise (GSE),
chartered by Congress to assure the flow of liquidity
through its member financial institutions into the American
housing market. Through their fiscal agent, the Office
of Finance, the FHLBanks issue debt to the public
in the capital markets and use these funds to provide
member financial institutions with a reliable source
of credit for housing and community development. FHLBank
Pittsburgh enjoys these attributes:
- As a GSE, it raises funds in the capital markets
at narrow spreads to the Treasury yield curve
- Private capitalization
- Attractively priced funding to members
- Member access to liquidity and other FHLBank services
at favorable rates
which is the outcome of FHLBank's financial performance
On August 5, 2011, Standard & Poor’s lowered its long-term sovereign credit rating on the United States of America to AA+ from AAA with a negative outlook. In conjunction with this action, on August 8, 2011, Standard & Poor's also lowered the long-term issuer credit ratings of select Federal Home Loan Banks, including FHLBank Pittsburgh, to AA+ from AAA with negative outlook. The FHLBanks have been removed from CreditWatch, where they were placed on July 15, 2011. The short-term ratings remain unchanged. Read the Report.
On August 2, 2011, Moody’s Investors Service confirmed the Aaa government bond rating of the United States and assigned a negative outlook. This action, which includes FHLBanks, concludes the review initiated on July 13, 2011. Moody's has confirmed its long-term rating for FHLBank Pittsburgh as "Aaa, Not on Watch" with a negative outlook.
The credit ratings shown above are the respective opinions of each ratings agency as of the date referenced. The Federal Home Loan Bank of Pittsburgh does not warrant the accuracy, timeliness, adequacy or fitness for any particular purpose of such ratings.