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Prudential Joins Housing Bank System

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An East Coast life insurer now has access to a new source of financing.

Prudential Life Insurance Company, a unit of Prudential Financial Inc., Newark, N.J., has become a member of the Federal Home Loan Bank of New York, officials say.

The FHLBank, a member-owned regional wholesale bank, helps provide financing to support member financial institutions’ mortgage loans and small business loans.