H.R. 5723 would amend the Federal Home Loan Bank Act to allow Federal home loan banks to invest surplus funds in student loan securities and make advances for student loan financing.

== Detailed Summary ==

<summary>
(LogEmergency Student Loan Market Liquidity Act - Amends the Federal Home Loan Bank Act to allow federal home loan banks to: (1) invest surplus funds in student loan securities; (2) accept student loans and student loan-related securities as collateral; and (3) provide secured long-term advances to editmember banks so that they can finance the wiki and beorigination of student loans or purchase or finance student loan-related securities.

Limits the firstapplication of this Act to provide a detailed summaryFederal Family Education Loans (FFELs) made under the Higher Education Act of 1965.

Makes the bill!)banks' authority effective for investments and advances made between February 1, 2008, and two years after this Act's enactment.
</summary>

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== Status of the Legislation ==

<status>
(Log inLatest Major Action: 4/8/2008: Referred to edit the wiki and be the firstHouse committee. Status: Referred to update the status of the bill!)House Committee on Financial Services.
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== Points in Favor ==

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== Points Against ==

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