12 C.F.R. § 950.13 Special advances to savings associations.
Title 12 - Banks and Banking
(a) Eligible institutions. (1) A Bank, upon receipt of a written request from the Director of the OTS, may make short-term advances to a savings association member. (2) Such request must certify that the member: (i) Is solvent but presents a supervisory concern to the OTS 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 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. [58 FR 29469, May 20, 1993. Redesignated at 65 FR 8256, Feb. 18, 2000 and further redesignated at 65 FR 44430, July 18, 2000]
Title 12: Banks and Banking
PART 950—ADVANCES
Subpart A—Advances to Members
§ 950.13 Special advances to savings associations.
