12 C.F.R. § 1266.13

Current through November 30, 2024
Section 1266.13 - Special advances to savings associations
(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.

12 C.F.R. §1266.13

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
81 FR 76298 , 12/2/2016