Federal Home Loan Bank Act

Federal Home Loan Bank Act

The Federal Home Loan Bank Act is a United States federal law passed in 1932 under President Herbert Hoover in order to lower the cost of home ownership.

It established the Federal Home Loan Bank Board to charter and supervise federal savings and loan institutions. It also created the Federal Home Loan Banks which lend to S&Ls in order to finance home mortgages.

The act was notably amended by Financial Institutions Reform, Recovery and Enforcement Act of 1989, which transferred regulation of thrifts to the Office of Thrift Supervision.

External links

* [http://www.fhfb.gov/Default.aspx?Page=70 History and text of the Act at the FHFB web page]


Wikimedia Foundation. 2010.

Игры ⚽ Нужно решить контрольную?

Look at other dictionaries:

  • Federal Home Loan Bank Act — An act passed by the Hoover administration in 1932 that was designed to encourage home ownership by providing a source of low cost funds for member banks to extend mortgage loans. The Federal Home Loan Bank Act was the first in a series of bills… …   Investment dictionary

  • Federal Home Loan Bank System - FHLB — An organization created by the Federal Home Loan Bank Act of 1932 to increase the amount of funds available for lending institutions who provide mortgages and similar loan agreements to individuals. This system was created in response to the… …   Investment dictionary

  • Federal Home Loan Banks — The Federal Home Loan Banks provide stable, on demand, low cost funding to American financial institutions for home mortgage loans, small business, rural, agricultural, and economic development lending. With their members, the FHLBank System… …   Wikipedia

  • Federal Home Loan Banks — Banks created under the Federal Home Loan Bank Act of 1932, for the purpose of keeping a permanent supply of money available for home financing. The banks are controlled by the Federal Housing Finance Board. Savings and loans, insurance companies …   Black's law dictionary

  • Federal Home Loan Banks — Banks created under the Federal Home Loan Bank Act of 1932, for the purpose of keeping a permanent supply of money available for home financing. The banks are controlled by the Federal Housing Finance Board. Savings and loans, insurance companies …   Black's law dictionary

  • Bank of America Home Loans — Type Subsidiary of Bank of America Founded 1969 (Countrywide), February 2009 (Bank of America Home Loans) Headquarters Calabasas, CA, USA (Countrywide Financial) Cha …   Wikipedia

  • Federal Bureau of Prisons — Seal of the Bureau of Prisons Agency overview …   Wikipedia

  • Federal takeover of Fannie Mae and Freddie Mac — Fannie Mae headquarters at 3900 Wisconsin Avenue, NW in Washington, D.C. The federal takeover of Fannie Mae and Freddie Mac refers to the placing into conservatorship of government sponsored enterprises Fannie Mae and Freddie Mac by the U.S.… …   Wikipedia

  • Home Federal Bank — Infobox Company company name = Home Federal Bank company company type = Public (nasdaq|HFFC) company slogan = We make things happen. foundation = 1929 location = Sioux Falls, South Dakota key people = Michelle Bunkers, Branch Manager Curtis L.… …   Wikipedia

  • Federal Housing Finance Board — The Federal Housing Finance Board, also known by the abbreviation FHFB, was an independent agency of the U.S. Government. Created by the Financial Institutions Reform, Recovery and Enforcement Act of 1989 in the aftermath of the Savings and Loan… …   Wikipedia

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”