Authorization and application for advances; obligation to repay advances.

CFR · 2024-01-01 · US · Title 12

(a) (b) (2) Such obligations shall be evidenced by a written advances agreement that shall be reviewed by the Bank's legal counsel to ensure such agreement is in compliance with applicable law. (c) (2) The Bank shall execute a written security agreement with each borrowing member which establishes the Bank's security interest in collateral securing advances. (3) Such written security agreement shall, at a minimum, describe the type of collateral securing the advances and give the Bank a perfectible security interest in the collateral. (d) (e)

official document · source cfr-2024 · id 12:§ 1266.2