Community Investment Cash Advance Programs.

CFR · 2024-01-01 · US · Title 12

(a) (2) Each Bank shall offer a CIP to provide financing for housing projects and for eligible targeted community lending at the appropriate targeted income levels. (3) Each Bank may offer RDF programs or UDF programs, or both, for targeted community lending using the targeted beneficiaries or targeted income levels specified in § 1292.1 of this part, without prior FHFA approval. (4) Each Bank may offer CICA programs for targeted community lending using targeted beneficiaries and targeted income levels other than those specified in § 1292.1 of this part, established by the Bank with the prior approval of FHFA. (b) (2) For projects funded under CIP, both the housing and economic development components of the project must meet the appropriate targeted income levels. (c) (d) (2) (3) (4) (ii) A Bank shall price advances to housing associate borrowers as provided in § 1266.17 of this chapter, and may price such advances at rates below the price of advances of similar amounts, maturities and terms made pursuant to section 10b of the Bank Act. (12 U.S.C. 1430b). (5) (6) (ii) Price reductions made through the Discount Fund shall be made in accordance with a fair distribution scheme.

official document · source cfr-2024 · id 12:§ 1292.5