Two U.S. home loan banks in talks on merger

NEW YORK, July 31 Thu Jul 31, 2014 2:38pm EDT

NEW YORK, July 31 (Reuters) - The Federal Home Loan Bank of Des Moines and the Federal Home Loan Bank of Seattle said on Thursday they had entered into an exclusive arrangement on a potential merger.

The merger would require approval from their regulator, the Federal Housing Finance Agency, and the two banks' members, they said in a statement.

The Federal Home Loan Bank System is made up of 12 regional banks that help finance mortgages made to consumers by their members that include banks, credit unions and insurance companies. (Reporting by Richard Leong; Editing by James Dalgleish)

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