What is the Federal Home Loan Bank Act

Hii Buddy , I want to know What is the Federal Home Loan Bank Act , Would you please Provide me Details about same ?

[Shaleen]

The Federal Home Loan Bank Act, Pub.L. 72–304, 47 Stat. 725, enacted July 22, 1932, is a United States federal law passed under President Herbert Hoover in order to lower the cost of home ownership.


It Established the Federal Home Loan Bank Board to charter and supervise federal savings and loan institutions.

It also Created the Federal Home Loan Banks which lend to
Building and Loan Associations,
Cooperative Banks,
Homestead Associations,
Insurance Companies,
Savings Banks,
Community Development Financial Institutions,
Insured Depository Institutions in order to Finance Home Mortgages