Federal Home Loan Bank Act of 1932

This Act established the Federal Home Loan Bank Board (“FHLBank Board”), which charters and supervises Federal Savings and Loans Institutions (“S&Ls”). Additionally, the Act established the Federal Home Loan Banks (“FHLBanks”) and gave the FHLBank Board authority to regulate and supervise S&Ls. The FHLBanks were given the authority to lend to S&Ls to finance home mortgages.