The Federal Home Loan Bank (FHLB) system is a network of regional banks in the United States that provides financial support to local lenders, such as banks and credit unions. Established in 1932, its primary purpose is to promote homeownership and affordable housing by offering low-cost funding to these institutions, which can then lend to consumers. Each FHLB operates independently but is part of a larger system that includes 11 regional banks. These banks raise funds through the issuance of bonds and use the proceeds to provide loans and other financial services to their member institutions, helping to stabilize the housing market and support community development.