Federal Home Loan Bank of San Francisco

The Federal Home Loan Bank of San Francisco (FHLBank San Francisco) is a wholesale bank and one of 11 regional Federal Home Loan Banks established by the U.S. Congress in 1932. Its core mission is to provide reliable access to low-cost liquidity, essential financial services, and expertise to its member financial institutions, thereby promoting housing, homeownership, and community economic development. Headquartered in San Francisco, CA, the bank serves a district encompassing Arizona, California, and Nevada. [3, 4, 5, 6, 9, 11, 19, 23, 24]

FHLBank San Francisco offers a range of products and services, including various types of advances (interim, long-term, fixed-rate, adjustable-rate, overnight, and structured), letters of credit, and discounted credit programs such as the Community Investment Program (CIP) and Advances for Community Enterprise (ACE). These offerings enable its member institutions—which include commercial banks, credit unions, industrial loan companies, savings institutions, insurance companies, and community development financial institutions—to fund home mortgages, commercial real estate, small businesses, and other community loans. The bank also provides significant affordable housing and economic development grants, allocating a portion of its earnings to programs like the Affordable Housing Program (AHP) and the Access to Housing and Economic Assistance for Development (AHEAD) Program. [3, 4, 8, 9, 10, 20]

As of April 2026, Winthrop Watson serves as the interim President and Chief Executive Officer. [13] The bank actively supports community initiatives, recently committing $10 million to its 2026 AHEAD Grant Program for economic development and an additional $13 million to address housing affordability for low-income first-time homebuyers. It also increased its voluntary funding commitment to $45.7 million in 2026 to expand housing supply. [9, 13] While a government-sponsored enterprise (GSE) regulated by the Federal Housing Finance Agency (FHFA), FHLBank San Francisco is a privately capitalized, member-owned cooperative, and its capital stock is not publicly traded. [5, 9, 11, 19, 27]