# 12 C.F.R. § 1808.603 (2026): Issuance of Guarantee

> Federal · Regulations · In force

URL: https://www.frixlaw.com/law-library/statutes/CFR_T12_P1808_S1808_603

## Section

- **Citation:** 12 C.F.R. § 1808.603 (2026)
- **Heading:** Issuance of Guarantee
- **Jurisdiction:** Federal
- **Kind:** Regulations
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** Title 12 CFR: Banks and Banking / Chapter XVIII: COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS FUND, DEPARTMENT OF THE TREASURY / Part 1808: COMMUNITY DEVELOPMENT FINANCIAL INSTITUTIONS BOND GUARANTEE PROGRAM / Subpart F: Terms and Conditions of Guarantee / § 1808.603: § 1808.603   Issuance of Guarantee.

## Text

(a)
Conditions precedent.
The commitment of the Guarantor to issue a Guarantee shall be subject to conditions precedent that are usual and customary for financings of this type or otherwise deemed appropriate by the Guarantor including, but not limited to, the following:
(1) The conditions precedent to the Bond Issue and the making of the Bond Loan have been satisfied, including a credit review that indicates a reasonable prospect of repayment as demonstrated by the CDFI Fund's analysis of the cash flow and collateral provisions of the Eligible CDFI;
(2) The Qualified Issuer shall have submitted to the CDFI Fund a complete Guarantee Application, containing all required information relating to the Bond and the Bond Loan, as required by the Guarantor;
(3) There have been no material changes to the Bond and Bond Loan documents from the forms thereof approved by the Guarantor and the CDFI Fund;
(4) The Bond Purchaser and the Qualified Issuer shall have executed a Bond Purchase Agreement; and
(5) Such additional information or documents as may be required by the CDFI Fund, the Guarantor, or the Bond Purchaser.
(b)
Rescission of approval.
The Guarantor, in its sole discretion, may rescind its approval of a Guarantee Application if:
(1) The Guarantor or the CDFI Fund determines that the Qualified Issuer cannot, or is unwilling to, provide adequate documentation and proof of compliance with paragraph (a) of this section within the time provided for in the offer of Guarantee, or
(2) The Guarantor or the CDFI Fund determines, in its sole discretion, that the Qualified Issuer no longer meets applicable CDFI Bond Guarantee Program criteria and requirements.

## Nearby sections

- [12 C.F.R. § 1808.600 (2026) § 1808.600   Full faith and credit and incontestability of Guarantee.](https://www.frixlaw.com/law-library/statutes/CFR_T12_P1808_S1808_600.md)
- [12 C.F.R. § 1808.601 (2026) § 1808.601   Assignment and transfer of Guarantee.](https://www.frixlaw.com/law-library/statutes/CFR_T12_P1808_S1808_601.md)
- [12 C.F.R. § 1808.602 (2026) § 1808.602   Offer of Guarantee.](https://www.frixlaw.com/law-library/statutes/CFR_T12_P1808_S1808_602.md)
- [12 C.F.R. § 1808.603 (2026) § 1808.603   Issuance of Guarantee.](https://www.frixlaw.com/law-library/statutes/CFR_T12_P1808_S1808_603.md)
- [12 C.F.R. § 1808.604 (2026) § 1808.604   Agreement to Guarantee.](https://www.frixlaw.com/law-library/statutes/CFR_T12_P1808_S1808_604.md)
- [12 C.F.R. § 1808.605 (2026) § 1808.605   Agency Administrative Fee.](https://www.frixlaw.com/law-library/statutes/CFR_T12_P1808_S1808_605.md)
- [12 C.F.R. § 1808.606 (2026) § 1808.606   Program Administrator; Servicer; Master Servicer/Trustee.](https://www.frixlaw.com/law-library/statutes/CFR_T12_P1808_S1808_606.md)
- [12 C.F.R. § 1808.607 (2026) § 1808.607   Representations and warranties of Qualified Issuer with respect to Guarantee.](https://www.frixlaw.com/law-library/statutes/CFR_T12_P1808_S1808_607.md)
- [12 C.F.R. § 1808.608 (2026) § 1808.608   Representations and warranties of Eligible CDFI with respect to each Bond Loan.](https://www.frixlaw.com/law-library/statutes/CFR_T12_P1808_S1808_608.md)
- [12 C.F.R. § 1808.609 (2026) § 1808.609   Representations and warranties of Secondary Borrower.](https://www.frixlaw.com/law-library/statutes/CFR_T12_P1808_S1808_609.md)
- [12 C.F.R. § 1808.610 (2026) § 1808.610   Covenants of Qualified Issuer with respect to Guarantee.](https://www.frixlaw.com/law-library/statutes/CFR_T12_P1808_S1808_610.md)
- [12 C.F.R. § 1808.611 (2026) § 1808.611   Covenants of Eligible CDFI with respect to Bond and each Bond Loan.](https://www.frixlaw.com/law-library/statutes/CFR_T12_P1808_S1808_611.md)
- [12 C.F.R. § 1808.612 (2026) § 1808.612   Specific financial covenants of Eligible CDFI.](https://www.frixlaw.com/law-library/statutes/CFR_T12_P1808_S1808_612.md)
- [12 C.F.R. § 1808.613 (2026) § 1808.613   Negative covenants of Eligible CDFI.](https://www.frixlaw.com/law-library/statutes/CFR_T12_P1808_S1808_613.md)

---

Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/CFR_T12_P1808_S1808_603. Check the current official text before relying on it. Not legal advice.