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CFR › Title 12 › Chapter XII › Subchapter D › Part 1269 › Section 1269.2

12 CFR 1269.2 - Standby letters of credit on behalf of members.

There is 1 rule appearing in the Federal Register for 12 CFR 1269. Select the tab below to view, or View eCFR (GPOAccess)
§ 1269.2
Standby letters of credit on behalf of members.
(a) Authority and purposes. Each Bank is authorized to issue or confirm on behalf of members standby letters of credit that comply with the requirements of this part, for any of the following purposes:
(1) To assist members in facilitating residential housing finance;
(2) To assist members in facilitating community lending;
(3) To assist members with asset/liability management; or
(4) To provide members with liquidity or other funding.
(b) Fully secured. A Bank, at the time it issues or confirms a standby letter of credit on behalf of a member, shall obtain and maintain a security interest in collateral that is sufficient to secure fully the member's unconditional obligation described in § 1269.4(a)(2) of this part, and that complies with the requirements set forth in paragraph (c) of this section.
(c) Eligible collateral. (1) Any standby letter of credit issued or confirmed on behalf of a member may be secured in accordance with the requirements for advances under § 1266.7 of this chapter.
(2) A standby letter of credit issued or confirmed on behalf of a member for a purpose described in paragraphs (a)(1) or (a)(2) of this section may, in addition to the collateral described in paragraph (c)(1) of this section, be secured by obligations of state or local government units or agencies rated as investment grade by an NRSRO.
[63 FR 65699, Nov. 30, 1998, as amended at 65 FR 8265, Feb. 18, 2000; 65 FR 44431, July 18, 2000. Redesignated and amended at 67 FR 12853, Mar. 20, 2002; 75 FR 8240, Feb. 24, 2010; 75 FR 76623, Dec. 9, 2010]

Title 12 published on 2012-01-01

The following are only the Rules published in the Federal Register after the published date of Title 12.

For a complete list of all Rules, Proposed Rules, and Notices view the Rulemaking tab.

  • 2013-01-11; vol. 78 # 8 - Friday, January 11, 2013
    1. 78 FR 2319 - Relocation of Regulations
      GPO FDSys XML | Text
      FEDERAL HOUSING FINANCE AGENCY, FEDERAL HOUSING FINANCE BOARD
      Final rule.
      This rule is effective on February 11, 2013.
      12 CFR Subchapters D and F Through L

This is a list of United States Code sections, Statutes at Large, Public Laws, and Presidential Documents, which provide rulemaking authority for this CFR Part.

This list is taken from the Parallel Table of Authorities and Rules provided by GPO [Government Printing Office].

It is not guaranteed to be accurate or up-to-date, though we do refresh the database weekly. More limitations on accuracy are described at the GPO site.

United States Code
USC : Title 12 - BANKS AND BANKING

§ 1429 - Eligibility to secure advances

§ 1430 - Advances to members

§ 1430b - Advances to nonmember mortgagee; terms and conditions

§ 4511 - Establishment of the Federal Housing Finance Agency

§ 4513 - Duties and authorities of Director

Title 12 published on 2012-01-01

The following are ALL rules, proposed rules, and notices (chronologically) published in the Federal Register relating to 12 CFR 1269 after this date.

  • 2013-01-11; vol. 78 # 8 - Friday, January 11, 2013
    1. 78 FR 2319 - Relocation of Regulations
      GPO FDSys XML | Text
      FEDERAL HOUSING FINANCE AGENCY, FEDERAL HOUSING FINANCE BOARD
      Final rule.
      This rule is effective on February 11, 2013.
      12 CFR Subchapters D and F Through L