Federal Home Loan Bank System (Noun)
Meaning
The central credit system for thrift institutions.
Classification
Nouns denoting groupings of people or objects.
Examples
- The Federal Home Loan Bank System provides financing for mortgage lending and other community investment activities.
- The thrift industry accesses liquidity and funding for mortgage lending through the Federal Home Loan Bank System.
- In the United States, the Federal Home Loan Bank System operates as a central credit system for thrift institutions.
- The Federal Home Loan Bank System was created by the Federal Home Loan Bank Act of 1932 during the Great Depression.
- Membership in the Federal Home Loan Bank System is required for all federally chartered thrifts and is optional for state-chartered thrifts.