Federal Home Loan Bank Board

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The Federal Home Loan Bank Board (FHLBB) was established by Congress as an independent agency by the Federal Home Loan Bank Act on July 22, 1932, and subsequently was given supervisory authority over the Federal Saving and Loan Insurance Corporation (FSLIC) on June 13, 1933. The purpose was to foster homeownership throughout the United States.The FHLBB was abolished on October 8, 1989, by Congress, by the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA). The functions of the FSLIC were transferred to the Federal Deposit Insurance Corporation (FDIC).

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