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Federal Home Loan Bank Board (Fhlbb):

A former independent agency in the executive branch of the federal government that regulated and supervised the savings and loan industry, the federal home loan banks, the federal savings and loan insurance corporation and the federal home loan mortgage corporation. The bank board was abolished in august 1989 by the financial institutions reform, recovery and enforcement act of 1989 and its functions transferred to other agencies, including the office of thrift supervision.

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