Official 10Y 5.18% / 2Y 4.87%

U.S. housing supply shortfall roughly 2 million to 5.5 million units. LIHTC about 4 million apartments since enactment, about 110,000 units a year. As-of Wed 23. https://www.federalreserve.gov/newsevents/speech/barr20260923a.htm Federal Reserve. September 23, 2026.

Over 60% of requests use Discount Window Direct. Three dimensions: business-process, automation, FHLB. Same-day Treasury pledge; shock absorber. As-of Tue 22 Sep 2026. Federal Reserve.