Federal Home Loan Bank. FHLBs are cooperative banks established by the US Congress to provide financing and other support to member savings associations, credit unions, and other community lending institutions. With the 2015 merger of the FHLBs of Seattle and Des Moines, there are now eleven FHLBs, each serving member lending institutions in a particular geographic region of the United States. The FHLBs perform similar functions for community lending institutions to the functions performed by the FRB for commercial banks.

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