Federal Home Loan Bank of Chicago
The Federal Home Loan Bank of Chicago is an $88.1 billion wholesale bank and one of 12 district banks chartered in 1932 by the U.S. Congress to ensure a secure source of mortgage funds to thrifts, insurance companies, and housing finance institutions. In 1989, the charter was expanded to include commercial banks and credit unions through the Financial Institutions Reform, Recovery, and Enforcement Act (FIRREA). Today, the FHLB System, which is regulated by the Federal Housing Finance Agency, is over 8,000 members strong.