Core mission activities.

CFR · 2024-01-01 · US · Title 12

The following Bank activities qualify as core mission activities: (a) Advances; (b) Acquired member assets (AMA), except that United States government-insured or guaranteed whole single-family residential mortgage loans acquired under a commitment entered into after April 12, 2000 shall qualify only in a cumulative dollar amount up to 33 percent of: The cumulative total dollar amount of AMA acquired by a Bank after April 12, 2000, less the cumulative dollar amount of United States government-insured or guaranteed whole single-family residential mortgage loans acquired after April 12, 2000 under commitments entered into on or before April 12, 2000 (which calculation, at the discretion of two or more Banks, may be made based on aggregate transactions among those Banks); (c) Standby letters of credit; (d) Intermediary derivative contracts; (e) Debt or equity investments: (1) That primarily benefit households having a targeted income level, a significant proportion of which must benefit households with incomes at or below 80 percent of area median income, or areas targeted for redevelopment by local, state, tribal or Federal government (including Federal Empowerment Zones and Enterprise and Champion Communities), by providing or supporting one or more of the following activities: (i) Housing; (ii) Economic development; (iii) Community services; (iv) Permanent jobs; or (v) Area revitalization or stabilization; (2) In the case of mortgage- or asset-backed securities, the acquisitio

official document · source cfr-2024 · id 12:§ 1265.3