• FHLB is a network of 11 regional banks that provide cash to other banks to keep money flowing to consumers and businesses.
  • FHLB was created by the federal government during the Great Depression.
  • FHLB does not receive funding from taxpayers: its banks are private cooperatives.
  • FHLBs raise funds primarily by issuing bonds called consolidated bonds.
  • FHLBs focus on mortgage finance and related community investments, providing low-cost loans that member banks can transfer to customers.