FHFBs

FHFBs refers to the Federal Housing Finance Board, the independent United States federal agency created to regulate the Federal Home Loan Bank System. Established by the Financial Institutions Reform, Recovery, and Enforcement Act of 1989, the FHFB oversaw the network of 12 regional Federal Home Loan Banks (FHLBanks) and their issuance of consolidated obligations. Its mandate was to promote safety and soundness within the FHLBanks and to support access to affordable funding for housing and community development.

The FHFB’s regulatory scope included establishing governance and risk-management standards for the FHLBanks, supervising capital adequacy and liquidity, and monitoring compliance with applicable laws and regulations. It issued policies, conducted examinations, and produced regulatory and financial reports on the FHLBank system. The agency operated with a governance structure centered on an independent board and staff focused on prudential regulation rather than direct consumer protections.

In 2008, the Housing and Economic Recovery Act created the Federal Housing Finance Agency (FHFA) and transferred the FHFB’s regulatory responsibilities to the new agency. The FHFB was subsequently dissolved, with the FHFA assuming oversight of the Federal Home Loan Banks, as well as the government-sponsored enterprises Fannie Mae and Freddie Mac. Since then, the FHFA has served as the primary regulator for the successor institutions formerly overseen by the FHFB. The FHFB name is now largely historical, though it remains part of archival records and historical references.