Member or housing associate nexus requirement.

CFR · 2024-01-01 · US · Title 12

(a) (1) A participating financial institution, provided that the asset was: (i) Originated or issued by, through, or on behalf of the participating financial institution, or an affiliate thereof; or (ii) Held for a valid business purpose by the participating financial institution, or an affiliate thereof, prior to acquisition by the Bank; or (2) Another Bank, provided that the asset was originally acquired by the selling Bank consistent with this section. (b) (1) The housing finance agency shall first offer the local Bank right of first refusal to purchase, or negotiate the terms of, its proposed bond offering; (2) If the local Bank indicates, within three business days, it will negotiate in good faith to purchase the bonds, the housing finance agency may not offer to sell or negotiate the terms of a purchase with another Bank; and (3) If the local Bank declines the offer, or has failed to respond within three business days, the acquiring Bank will be considered to have an arrangement with the local Bank for purposes of this section and may offer to buy or negotiate the terms of a bond sale with the housing finance agency.

official document · source cfr-2024 · id 12:§ 1268.4