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September 2, 2004

Federal Home Loan Bank of Seattle

The Federal Home Loan Bank of Seattle has filed an application with the Federal Housing Finance Board to purchase mortgage securities from its cooperative bank members and re-sell them to bank system members, other Federal Home Loan banks and investors outside the system. Bank officials say that if the application is approved, it would give the bank a greater role in offering a secondary market alternative for mortgages. It would also enable the bank to more effectively manage financial risk.




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