§ 1266.13 Special advances to savings associations.
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Title 12 CFR: Banks and Banking › Chapter XII: FEDERAL HOUSING FINANCE AGENCY › Part 1266: ADVANCES › Subpart A: Advances to Members › § 1266.13: § 1266.13 Special advances to savings associations.
Text
(a)
Eligible institutions.
(1) A Bank, upon receipt of a written request from the OCC, with respect to a federal savings association, or from the FDIC, with respect to a state chartered savings association, may make short-term advances to a savings association member pursuant to section 10(h) of the Bank Act (12 U.S.C. 1430(h)).
(2) Such request must certify that the savings association member:
(i) Is solvent but presents a supervisory concern to the OCC or FDIC, as appropriate, because of the member's financial condition; and
(ii) Has reasonable and demonstrable prospects of returning to a satisfactory financial condition.
(b)
Terms and conditions.
Advances made by a Bank to a member savings association under this section shall:
(1) Be subject to all applicable collateral requirements of the Bank, this part and section 10(a) of the Bank Act (12 U.S.C. 1430(a)); and
(2) Be at the interest rate applicable to advances of similar type and maturity that are made available to other members that do not pose such a supervisory concern.
[58 FR 29469, May 20, 1993. Redesignated at 65 FR 8256, Feb. 18, 2000 and further redesignated at 65 FR 44430, July 18, 2000; 81 FR 76298, Nov. 2, 2016]
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