Countrywide leans on Atlanta home loan bank

--home loan bank system's debt outstanding rose to $1.134 trillion as of Sept. 30, up 21% from nine months earlier. Although operating independtly, 12 regional home loan banks are jointly liable for one another's debts. --top four borrowers are Citigroup(104.5 bil, up 28%), Washington Mutual (52.5 bil, up 19% , Countrwide(51.1 bil, up 81%), Wachovia... --the home loan banks are cooperative, owned by 8000 members, mainly commericial banks, thrifts, and credit unions. Thye main business of the home loan banks is making secured loans known as "advances" to their members --home lona bank does limit any member's total advances to 50% of that member's assets. Countrywide's saving bank had assets of 106 bil at the end of Octomber, which suggest that its advances are near the ceiling.