Dr. William Hollow Husband, 79, a former member of the Federal Home Loan Bank Board and later general manager of the Federal Savings and Loan Insurance Corporation, died Sept. 21 at his home in Washington. He suffered from arteriosclerosis.

He joined the FHLBB in 1936 as a deputy to a board member and was appointed board member a year later by President Franklin D. Roosevelt. He also served as a trustee of the Federal Savings and Loan Insurance Corporation and a director of the Home Owners' Loan Corporation.

Dr. Husband left the FHLBB in 1942 to become executive vice president of the First Federal Savings and Loan Association of Waterbury, Conn. He returned to FHLBB two years later as general manager of the Federal Savings and Loan Insurance Corporation, retiring in 1964.

He was born in St. Ives, Cornwall, England. In World War I, he served with the Signal Corps of the Allied Expeditionary Forces.

Dr. Husband then earned a bachelor's degree from the University of Michigan and a master's degree and doctorate from Ohio State University. He taught at Ohio Wesleyan University from 1922 to 1936, becoming professor of economics and business administration there.

He was the author of two books, "Modern Corporation Finance" and "Real Estate."

He is survived by a daughter, Beth Ellen, of the home; a sister, Ada Karr, of Ann Arbor, Mich., and a brother, Harold, of Fort Lauderdale, Fla.

The family suggests that expressions of sympathy may be in the form of contributions to Sibley Memorial Hospital.