Federal Home Loan Bank Board in the United States
Introduction to Federal Home Loan Bank Board
Federal Home Loan Bank Board, former independent agency of the U.S. government established, with its related units, in the 1932-1934 period to encourage thrift and economical home financing. The board set policies, issued regulations, and supervised the operations of the following units: the Federal Home Loan Bank System, which constituted a network of reserve credit for savings and home-financing institutions served by 12 regional Federal Home Loan banks; the Federal Savings and Loan Insurance Corp. (FSLIC), which insured the accounts of depositors in insured savings and loan associations and similar institutions; and the Federal Home Loan Mortgage Corp., created by the Emergency Home Finance Act of 1970 to operate a secondary mortgage market.
Under the Financial Institutions Reform, Recovery, and Enforcement Act of 1989, the Office of Thrift Supervision, a newly created bureau within the Department of the Treasury, assumed the board’s regulatory responsibilities, while the Savings Association Insurance Fund (SAIF), administered by the Federal Deposit Insurance Corp. (FDIC), replaced the FSLIC.
The board is administered by three members appointed to 4-year terms by the president and confirmed by the Senate. The chairperson is designated by the president.” (1)
Resources
Notes and References
- Information about Federal Home Loan Bank Board in the Encarta Online Encyclopedia
Guide to Federal Home Loan Bank Board
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Federal Home Loan Bank Board in the International Business Landscape
Definition of Federal Home Loan Bank Board in the context of U.S. international business and public trade policy: Federal body that supervises and regulates savings and loan organizations.