July 21, 2010 Department of the Treasury ent of Housing and Urban Development Re: Public Input on the Reform of the Housing Finance System eDocket Number TREAS-DO-2010-0001; eDocket Number HUD-2010-0029 To Whom It May Concern: The Federal Home Loan Bank of Des Moines (FHLB Des Moines or Bank) appreciates the opportunity to comment on the Administration’s questions regarding housing finance reform. The last time the country engaged in such a wide-ranging debate over housing finance was during the Great Depression. That debate resulted in numerous changes to the U.S. housing finance structure, and created many of the players in today’s housing finance system, including the Federal Home Loan Banks in 1932. As one of the twelve Federal Home Loan Banks that is successfully fulfilling the housing finance mission the federal government assigned to us, we believe we are an important component of housing finance in this country, and welcome the opportunity to be part of any housing finance solution that the federal government fashions for the future. Our cooperative structure and members have been important factors in this success. Our members, which are also our customers and stockholders, include commercial banks, savings institutions, credit unions, and insurance companies in Iowa, Minnesota, Missouri, North Dakota, and South Dakota. Approximately, 88 percent of our members are community financial institutions, ...