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Ritchie Torres: “The Federal Home Loan bank is a banking system, yet the…”

Featuring: Ritchie Torres, Democratic | U.S. House New York, 15th Congressional District

'There's A Problem Of Moral Hazard': Ritchie Torres Presses Expert About Advances To Failing Banks

Published August 19, 2026 | Video Starts at 04:22

But it could be the case the cure could be worse than the disease. So it's a complicated problem. I have a question for gao. The Federal Home Loan bank is a banking system, yet the Federal Housing Finance Agency is not a banking regulator. It is it unusual to have a non banking regulator oversee a banking system? It's not a banking regulator in the traditional sense of the word. (04:22–04:30)

CLAIM

Asserts that the Federal Home Loan Bank is overseen by the Federal Housing Finance Agency, which is not a traditional banking regulator.

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Ritchie Torres

“During the 2023 banking crisis, the federal home loan bank system made $675 billion in advances in a single week, the largest one week…”
'There's A Problem Of Moral Hazard': Ritchie Torres Presses Expert About Advances To Failing Banks | Uploaded August 19, 2026 | 01:27-01:39
“Among the institutions that heavily borrowed from the system were Silvergate Bank, Silicon Valley Bank Signature and First Republic, all of…”
'There's A Problem Of Moral Hazard': Ritchie Torres Presses Expert About Advances To Failing Banks | Uploaded August 19, 2026 | 01:39-01:51
“When the Federal Home Loan bank makes an advance to a failing bank, it secures a priority claim on high quality assets pledged as…”
'There's A Problem Of Moral Hazard': Ritchie Torres Presses Expert About Advances To Failing Banks | Uploaded August 19, 2026 | 02:45-02:55
“In doing so, it reduces the pool of assets available to the FDIC as receiver and can potentially increase losses to the deposit insurance…”
'There's A Problem Of Moral Hazard': Ritchie Torres Presses Expert About Advances To Failing Banks | Uploaded August 19, 2026 | 02:54-03:05
“The FHLB system is all but assured of repayment by its priority lien on pledged capital.”
'There's A Problem Of Moral Hazard': Ritchie Torres Presses Expert About Advances To Failing Banks | Uploaded August 19, 2026 | 03:12-03:18
“Should we have a new regulator or should it be a prudential regulator for a trillion dollar banking system?”
'There's A Problem Of Moral Hazard': Ritchie Torres Presses Expert About Advances To Failing Banks | Uploaded August 19, 2026 | 04:46-04:52