[1] It was abolished and superseded by the Federal Housing Finance Board and the Office of Thrift Supervision in 1989 due to the savings and loan crisis of the 1980s, as Federal Home Loan Banks gave favorable lending to the thrifts it regulated, leading to regulatory capture.

[1] The FHLBB was established as an independent agency by the Federal Home Loan Bank Act, July 22, 1932.

FHLBB was abolished and its functions and components assigned to the Federal Home Loan Bank Administration (FHLBA) in the newly established National Housing Agency, by EO 9070, February 24, 1942.

HLBB was made an independent agency and redesignated as the FHLBB by the Housing Amendments of 1955 (69 Stat.

This redesignated FHLBB was abolished effective October 8, 1989, by the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA).