MPF Program Update on COVID-19 and its Implications
March 18, 2020
We are writing to update you on the status of the MPF® Program as we all deal with the COVID-19 (Coronavirus) outbreak. Serving our PFIs is our highest priority. We are committed to providing uninterrupted, reliable access to liquidity and that is particularly true in times like these. As concerns over the spread of the Coronavirus grow, we continue to closely monitor developments to ensure we are well prepared to support you.
The MPF Program is currently working remotely, operating at its normal level, and focusing on continuing to support PFIs. We have managed in this manner in the past without providing notice to our PFIs. We do so now to provide comfort that we can maintain robust and effective operations to support you during this public health crisis. All call-in numbers (MPF Service Center) and electronic platforms (eMPF®, eMAQCS®, FHLBMPF.com, MPF Direct Portal) are and will continue to be available to PFIs during our normal business hours.
We continue to communicate with our external investors, servicing released aggregators, and third-party vendors to confirm they are operating normally to ensure you are not impacted and can continue to serve your customers. Please review your current authorizations to provide for adequate coverage for:
- eMPF
- Investor Reporting (business as usual)
- Custody (business as usual)
If you have questions or concerns, or want to verify user access, please call the MPF Service Center (877-FHLB-MPF) or contact your FHLBank.
We recognize that some of you may have experienced longer wait times recently when calling the MPF Service Center due to market volatility and significant call volumes. We apologize for any inconveniences and appreciate your patience during this time. We assure you that we are taking measures to avoid recurrences.
We will continue to closely monitor the developments around the Coronavirus outbreak and will continue to keep you apprised of information regarding developments within the MPF Program. Our goal is to execute business as usual and maintain the high level of support you receive and should expect from us. We hope and trust that you, your colleagues, your families, and your communities are healthy and safe.
Please reach out to us with any questions.
Best regards,
MPF Program
