a circuit board having embedded transient voltage protection capability for a plurality of electronic components attached thereto, the circuit board comprising:

a dielectric substrate layer defining a first major surface, a second major surface, and an array of holes extending therethrough;

the array of holes being substantially filled with a variable impedance material, wherein the variable impedance material exhibits a relatively high impedance when subjected to voltage and/or current up to a predetermined threshold value, and exhibits a relatively low impedance when subjected to voltage and/or current that exceeds the predetermined threshold, the variable impedance material defining a shunt current path through each of the filled holes when exhibiting the low impedance;

an electrically conductive transmission layer extending on the first major surface of dielectric substrate layer and establishing a conductive path with the filled holes; and

a circuit layer formed directly on and defining a circuit pattern on the transmission layer and establishing a conductive path to the transmission layer opposite the filled holes, the circuit layer including a plurality of contact pads each providing for connection to a respective one of the electronic components, and the transmission layer electrically isolating the contact pads from one another.