12 CFR 917.8 - Budget preparation.

§ 917.8 Budget preparation.
(a) Adoption of budgets. Each Bank's board of directors shall be responsible for the adoption of an annual operating expense budget and a capital expenditures budget for the Bank, and any subsequent amendments thereto, consistent with the requirements of the Act, this section, other regulations and policies of the Finance Board, and with the Bank's responsibility to protect both its members and the public interest by keeping its costs to an efficient and effective minimum.
(b) No delegation of budget authority. A Bank's board of directors may not delegate the authority to approve the Bank's annual budgets, or any subsequent amendments thereto, to Bank officers or other Bank employees.
(c) Interest rate scenario. A Bank's annual budgets shall be prepared based upon an interest rate scenario as determined by the Bank.
(d) Board approval for deviations. A Bank may not exceed its total annual operating expense budget or its total annual capital expenditures budget without prior approval by the Bank's board of directors of an amendment to such budget.

Title 12 published on 2014-01-01

no entries appear in the Federal Register after this date.

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.

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United States Code

Title 12 published on 2014-01-01

The following are ALL rules, proposed rules, and notices (chronologically) published in the Federal Register relating to 12 CFR 917 after this date.

  • 2014-02-28; vol. 79 # 40 - Friday, February 28, 2014
    1. 79 FR 11350 - Responsibilities of Boards of Directors, Corporate Practices and Corporate Governance Matters
      GPO FDSys XML | Text
      FEDERAL HOUSING FINANCE AGENCY, DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT, FEDERAL HOUSING FINANCE BOARD, Office of Federal Housing Enterprise Oversight
      Notice of proposed rulemaking; extension of comment period.
      The comment period for the proposed rule published January 28, 2014, at 79 FR 4414, is extended. Written comments must be received on or before May 15, 2014. For additional information, see the SUPPLEMENTARY INFORMATION section.
      12 CFR Parts 914 and 917