Whereas the Federal Home Loan Bank System was established by Congress by the Federal Home Loan Bank Act of 1932; Whereas the mission of the Federal Home Loan Bank System is to provide a reliable source of funding for housing finance and community investment; Whereas the Federal Home Loan Banks are independent cooperatives that are privately capitalized and owned by their members; Whereas the membership of the Federal Home Loan Banks consists of thousands of financial institutions big and small from all 50 States, U.S. possessions and territories, including credit unions, non-depository CDFIs, savings and loan associations, insurance companies, and banks; Whereas the Federal Home Loan Bank of San Francisco is one of 11 Federal Home Loan Banks; Whereas the Federal Home Loan Bank of San Francisco is one of the largest banks in the system with $109.2 billion in assets; Whereas the Federal Home Loan Bank of San Francisco’s jurisdiction covers California, Nevada, and Arizona; Whereas the Federal Home Loan Bank of San Francisco is owned by 336 institutions headquartered in California, Nevada, and Arizona; Whereas the Federal Home Loan Bank of San Francisco is required to dedicate 10 percent of its net income to an Affordable Housing Program; Whereas the Federal Home Loan Bank of San Francisco distributes the bulk of its AHP funding through a competitive process, through which grantees can fund the purchase, construction or rehabilitation of affordable rental or owner-occupied housing for households at or below 80 percent of area median income; Whereas since 1990 the Federal Home Loan Bank of San Francisco has distributed $1 billion in AHP funding that have gone to benefit 132,000 households; Whereas in 1998, Lawrence Parks joined the staff of the Federal Home Loan Bank of San Francisco; Whereas in 2004, Timothy Simons joined the staff of the Federal Home Loan Bank of San Francisco