TITLE 12 - BANKS AND BANKING

CHAPTER IX - FEDERAL HOUSING FINANCE BOARD

SUBCHAPTER G - FEDERAL HOME LOAN BANK ASSETS AND OFF - BALANCE SHEET ITEMS

PART 952 - COMMUNITY INVESTMENT CASH ADVANCE PROGRAMS

952.3 - Purpose.

The purpose of this part is to identify targeted community lending projects that the Banks may support through the establishment of CICA programs under section 10(j)(10) of the Act (12 U.S.C. 1430(j)(10)).

Pursuant to this part, a Bank may offer Rural Development Funding (RDF) or Urban Development Funding (UDF) programs, or both, for targeted community lending using the targeted beneficiaries or targeted income levels specified in 952.1, without prior Finance Board approval. A Bank also may offer other CICA programs for targeted community lending using targeted beneficiaries and targeted income levels other than those specified in 952.1, established by the Bank with the prior approval of the Finance Board. In addition, a Bank shall offer CICA programs under section 10(i) of the Act (12 U.S.C. 1430(i)) (Community Investment Program (CIP)) and section 10(j) of the Act (12 U.S.C. 1430(j)) (Affordable Housing Program (AHP)). A Bank may provide advances or grants under its CICA programs except for CIP programs, under which a Bank may only provide advances.

[67 FR 12852, Mar. 20, 2002]