FEDERAL HOUSING FINANCE BOARD
1625 I Street NW., Washington, DC 20006
Phone, 202-408-2500. Internet, http://www.fhfb.gov.
Board of Directors:
Chairman Ronald A. Rosenfeld
Members: Alicia R. Castaneda, Franz S. Leichter, Allan I. Mendelowitz
Secretary of Housing and Urban Alphonso R. Jackson
Development, ex officio
Special Assistant to the Chairman Daris D. Meeks
Special Assistants to Board of Directors Christopher Bosland, Charles D. Jones
Inspector General Edward Kelley
General Counsel and Secretary of the Board John P. Kennedy
Director, Office of Supervision Stephen M. Cross
Director, Office of Management Judith L. Hofmann
The Federal Housing Finance Board is responsible for the administration and enforcement of the Federal Home Loan Bank Act, as amended.
The Federal Housing Finance Board (Finance Board) was established by the Federal Home Loan Bank Act, as amended by the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA) (12 U.S.C. 1421 et seq.), as an independent regulatory agency in the executive branch. The Finance Board succeeded the Federal Home Loan Bank Board for those functions transferred to it by FIRREA.
The Finance Board is managed by a five-member Board of Directors. Four members are appointed by the President with the advice and consent of the Senate for 7-year terms; one of the four is designated as Chairperson. The Secretary of the Department of Housing and Urban Development is the fifth member and serves in an ex officio capacity.
The Finance Board supervises the 12 Federal Home Loan Banks created in 1932 by the Federal Home Loan Bank Act and issues regulations and orders for carrying out the purposes of the provisions of that act. Savings associations, commercial banks, savings banks, credit unions, insurance companies, and other institutions specified in section 4 of the act that make long-term home-mortgage loans are eligible to become members of the Federal Home Loan Banks. The Finance Board supervises the Federal Home Loan Banks and ensures that they carry out their housing finance and community investment mission and remain adequately capitalized and able to raise funds in the capital markets. The functions of the Finance Board include the following:
--prescribing rules and regulations governing the Bank System's capital, lending, financial management, and investment activities;
--maintaining Bank System...