Federal Home Loan Bank Board

Federal Home Loan Bank Board
Seal
Board overview
Formed July 22, 1932 (1932-07-22)
Dissolved October 8, 1989 (1989-10-08)
Superseding agencies
Headquarters Washington, D.C.

The Federal Home Loan Bank Board (FHLBB) was a board created in 1932 that oversaw the Federal Home Loan Banks (FHLB or FHLBanks) also created by the act. It was superseded by the Federal Housing Finance Board and the Office of Thrift Supervision in 1989.

Organizational history

The FHLBB was established as an independent agency by the Federal Home Loan Bank Act, July 22, 1932.[1] The Home Owners' Loan Corporation was established as an emergency agency under FHLBB supervision by the Home Owners' Loan Act of 1933, June 13, 1933. FHLBB and its components (Federal Home Loan Bank System, Federal Savings and Loan System, Federal Savings and Loan Insurance Corporation, and Home Owners' Loan Corporation) were made part of newly established Federal Loan Agency by Reorganization Plan No. I of 1939, effective July 1, 1939.

FHLBB was abolished and its functions and components assigned to the Federal Home Loan Bank Administration (FHLBA) in the newly established National Housing Agency, by EO 9070, February 24, 1942. FHLBA was abolished and its functions and components assigned to Home Loan Bank Board (HLBB) in the newly created Housing and Home Finance Agency, by Reorganization Plan No. 3 of 1947, effective July 27, 1947. HLBB was made an independent agency and redesignated as the FHLBB by the Housing Amendments of 1955 (69 Stat. 640), August 11, 1955. This redesignated FHLBB was abolished effective October 8, 1989, by the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA), August 9, 1989.[2]

References

  1. ↑ "Records of the Federal Home Loan Bank Board [FHLBB]". National Archives. 2016-08-15. Retrieved 2017-10-24.
  2. ↑ Financial Institutions Reform, Recovery, and Enforcement Act of 1989, §701


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