CFR > Title 12 - Banks and Banking > CHAPTER XII—FEDERAL HOUSING FINANCE AGENCY > SUBCHAPTER D—FEDERAL HOME LOAN BANKS (parts 1261 to 1274) > PART 1269—STANDBY LETTERS OF CREDIT > 1269.3—Standby letters of credit on behalf of housing associates.

1269.3—Standby letters of credit on behalf of housing associates.

(a) Housing associates. Each Bank is authorized to issue or confirm on behalf of housing associates standby letters of credit that are fully secured by collateral described in §§ 950.17(b)(1)(i) or (ii) of this title, and that otherwise comply with the requirements of this part, for any of the following purposes:
(1) To assist housing associates in facilitating residential housing finance;
(2) To assist housing associates in facilitating community lending;
(3) To assist housing associates with asset/liability management; or
(4) To provide housing associates with liquidity or other funding.
(b) SHFA associates. Each Bank is authorized to issue or confirm on behalf of SHFA associates standby letters of credit that are fully secured by collateral described in § 950.17(b)(2)(i) (A), (B) or (C) of this title, and that otherwise comply with the requirements of this part, for the purpose of facilitating residential or commercial mortgage lending that benefits individuals or families meeting the income requirements in section 142(d) or 143(f) of the Internal Revenue Code (26 U.S.C. 142(d) or 143(f) ).

Code of Federal Regulations

[63 FR 65699, Nov. 30, 1998, as amended at 65 FR 8265, Feb. 18, 2000; 65 FR 44431, July 18, 2000; 75 FR 8240, Feb. 24, 2010]

Code of Federal Regulations

Effective Date Note: At 75 FR 76623, Dec. 9, 2010, § 1269.3 was amended in (a) introductory text by removing “§§ 950.17(b)(1)(i) or (ii) of this title”, and replacing it with “§ 1266.17(b)(1)(i) or (ii) of this chapter”; in (b), “§ 950.17(b)(2)(i)(A),(B) or (C) of this title” is replaced with “§ 1266.17(b)(2)(i)(A),(B) or (C) of this chapter”, effective Jan. 10, 2011.