Listen to a Business English Dialogue About Federal home loan bank board
Avery: Hi Alan, have you heard about the Federal Home Loan Bank Board in business and finance?
Alan: Yes, I have. The Federal Home Loan Bank Board was a government agency responsible for regulating and supervising savings and loan associations in the United States.
Avery: That’s right. The Federal Home Loan Bank Board played a crucial role in promoting homeownership and providing liquidity to the housing market through its supervision of savings and loan institutions.
Alan: What happened to the Federal Home Loan Bank Board?
Avery: The Federal Home Loan Bank Board was abolished in 1989 as part of the Financial Institutions Reform, Recovery, and Enforcement Act, which restructured the regulation of savings and loan associations.
Alan: Did the functions of the Federal Home Loan Bank Board transfer to another agency?
Avery: Yes, the regulatory functions of the Federal Home Loan Bank Board were transferred to the Office of Thrift Supervision (OTS), which later merged with the Office of the Comptroller of the Currency (OCC).
Alan: What was the main purpose of the Federal Home Loan Bank Board?
Avery: The main purpose of the Federal Home Loan Bank Board was to ensure the stability and soundness of the savings and loan industry, as well as to promote affordable housing and homeownership opportunities.
Alan: Did the Federal Home Loan Bank Board face any challenges during its existence?
Avery: Yes, the savings and loan crisis of the 1980s posed significant challenges to the Federal Home Loan Bank Board, leading to its eventual dissolution and the implementation of new regulatory structures.
Alan: Thanks for explaining, Avery. I have a better understanding of the Federal Home Loan Bank Board now.
Avery: No problem, Alan. I’m glad I could help. Let me know if you have any more questions about business and finance topics.