The Federal Home Loan Bank Board provided...

The Federal Home Loan Bank Board provided assurances to investors in securities, commodities and interest rate agreements with troubled American Savings & Loan Assn. FHLBB said it will let the agreements stand even if its Federal Savings & Loan Insurance Corp. takes American Savings into receivership. FHLBB said its resolution was designed to protect parties engaged in contracts that American Savings uses to hedge its interest rate risk. However, FHLBB emphasized that it has no current plan to take American Savings, the nation’s second-largest thrift and a unit of Irvine-based Financial Corp. of America, into receivership.