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9.Understanding the Federal Financial Bank system [New Blog site] The federal Home Loan bank (FHLB) System is a government-sponsored enterprise created by Congress in 1932 to support the mortgage lending activities of community-based financial institutions. The FHLB System is composed of 11 regional financial institutions over the Us, each of which is owned by its member financial institutions. These banks provide low-rates capital to their members in the form of advances, which can be used to support the financing needs of their customers. In turn, the members pledge collateral to the FHLB banks to secure these advances. The FHLB System …