Introduction

About FHFB

 The Federal Housing Finance Board regulates the 12 FHLBanks that were created in 1932 to improve the supply of funds to local lenders that, in turn, finance loans for home mortgages. The board also has regulatory authority and supervisory oversight responsibility for the Office of Finance.

 Today, the FHLBanks and their 8,104 member-owners, which constitute the FHLBank System, form a cooperative partnership that continues to help finance the country's urban and rural housing and community development needs. This partnership supports community-based financial institutions and facilitates their access to credit.

 The Finance Board ensures that the FHLBanks, which are privately capitalized, government-sponsored enterprises, operate in a safe and sound manner, carry out their housing and community development finance mission, and remain adequately capitalized and able to raise funds in the capital markets.

 The Finance Board is an independent regulatory agency of the executive branch of the U.S. Government, with a five-member board. Four board members are appointed by the President for seven-year terms, and the fifth member is the Secretary of the Department of Housing and Urban Development, or the secretary's designee.

Board of Directors

Chairman: Ronald A. Rosenfeld
Board member: HUD Secretary
Board member: Allan I. Mendelowitz
Board member: Alicia R. Castaneda
Board member: Geoff Bacino

Funding

The Finance Board is supported by assessments from the 12 FHLBanks. No tax dollars or other appropriations support the operations of the Finance Board or the FHLBank System.