What Is the Federal Home Loan Bank System?

The United States Federal Housing Loan Banking System is a housing financial institution system composed of the Federal Housing Loan Banking Committee, 12 Federal Housing Loan Banks, and its members, namely, the Savings and Loan Association, established in accordance with the "Housing Loan Banking Act of 1932". The Federal Housing Loan Banking Committee is the leading agency of the system. It is responsible for managing and coordinating the work of the entire banking system, and providing financing facilities to member banks. It also adjusts the remaining funds between regions to become the "central bank" of the system. ^[1]