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Bulletin No.: 2015-36
December 8, 2015

TO: MEMBERS

SUBJECT: Texas Counties Declared Major Disaster Areas

In response to the recent severe storms, tornadoes, straight-line winds, and flooding that have affected parts of Texas, the Federal Home Loan Bank of Dallas (Bank) has made available the Disaster Relief Program (DRP) to assist recovery efforts in the affected counties.

On November 25, 2015, Bastrop, Brazoria, Caldwell, Comal, Galveston, Guadalupe, Hardin, Harris, Hays, Hidalgo, Liberty, Navarro, Travis, Willacy, and Wilson counties were designated as major disaster areas by the Federal Emergency Management Agency (FEMA).

Funding under the DRP will be available during the period from December 8, 2015 through June 6, 2016. Individuals and business owners located within federally declared disaster areas, as determined by FEMA, may apply for the funds through the Bank's member financial institutions.

The DRP makes subsidized advances available to members to assist individuals and families whose homes or businesses were damaged or destroyed as a result of the storms, tornadoes, straight-line winds, or flooding.

Under the DRP:

  • Funds are priced below the Bank's regular Community Investment Program (CIP) rates.
  • Income eligibility limits are expanded to 165 percent of the area median income.
  • Advances terms range from three months to 30 years.

    Individuals and business owners located within any counties that are subsequently declared as disaster areas by FEMA will also be eligible to apply for DRP funds.

    For more detailed program information, including application forms and subsequently designated counties, visit the Bank's website at fhlb.com or contact Member Services at 844.FHL.BANK. 

    Sincerely,

     

    Gustavo Molina
    SVP and Chief Banking Operations Officer

     

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