Financial condition requirement for insurance company and certain CDFI applicants.

CFR · 2024-01-01 · US · Title 12

(a) (i) Based on the information contained in the applicant's most recent regulatory financial report filed with (ii) Based on the applicant's most recent audited financial statements, that the applicant's financial condition is such that the Bank can safely make advances to it. (2) In making the determination required under paragraph (a)(1)(ii) of this section, the Bank shall use audited financial statements that have been prepared in accordance with generally accepted accounting principles, if they are available. If they are not available, the Bank may use audited financial statements prepared in accordance with statutory accounting principles. (b) (i) (ii) (iii) (2) (i) (ii) (iii) (iv)

official document · source cfr-2024 · id 12:§ 1263.16