FHFB

The Federal Housing Finance Board (FHFB) was an independent United States federal agency responsible for supervising the Federal Home Loan Bank System, a network of regional cooperative banks that provide funding to member financial institutions for housing and community development. The FHFB was established in 1990 to ensure the safety and soundness of the system, set supervisory standards, and oversee the governance of the Federal Home Loan Banks. The board consisted of five members appointed by the President with the advice and consent of the Senate, including a chair who directed agency activities. The FHFB conducted risk-based examinations of the Banks, established capital adequacy requirements, and issued policies related to member eligibility and the cooperative structure of the system. The agency was headquartered in Washington, D.C.

In 2008, the Housing and Economic Recovery Act (HERA) merged the FHFB into the newly created Federal Housing Finance Agency (FHFA). The FHFA assumed primary oversight of the Federal Home Loan Bank System as well as Fannie Mae and Freddie Mac, effectively dissolving the FHFB. The transition centralized regulatory authority for government-sponsored housing enterprises in a single agency and marked the end of FHFB’s separate regulatory role.