^Lot 690 The Federal Home Loan Banks Bonds

U.S. Government. 1974. Specimen. "Organized and Existing Pursuant to the Federal Home Loan Bank Act". 4 different U.S. Federal related bearer bonds. All are Series K - 1975, 6.80% Consolidated bonds. All have allegorical man on left and woman on right with undertint of "Federal Home Loan Bank Bond" in middle. 1) $10,000, red. 2) $25,000, blue; 3) $100,000, purple; 4) $1,000,000, green. In 1932 the U.S. Congress established the Federal Home Loan Bank System to fill the need for a stable source of funds for residential mortgages. The Great Depression had undermined the existing banking system and Americans who had recently purchased or wanted to purchase homes. The Federal Home Loan Banks are government-sponsored enterprises, federally chartered but privately capitalized and independently managed. The Federal Home Loan Bank System raises funds by issuing debt instruments (bonds and notes) in the capital markets and have "AAA" credit ratings. A Federally related Bond. Rare. Federated BNC. XF.