Title 12: Banks and Banking
CHAPTER IX: FEDERAL HOUSING FINANCE BOARD
SUBCHAPTER B: FEDERAL HOUSING FINANCE BOARD ORGANIZATION AND OPERATIONS
PART 907: PROCEDURES
Subpart A: Definitions
907.1 - Definitions.
As used in this part:
Approval means a written statement issued to a Bank or the Office of Finance approving a transaction, activity, or item that requires Finance Board approval under the Act or a Finance Board rule, regulation, policy, or order.
Case-by-Case Determination means a Final Decision concerning any matter that requires a determination, finding, or approval by the Board of Directors under the Act or Finance Board regulations, for which no controlling statutory, regulatory, or other Finance Board standard previously has been established, and that, in the judgment of the Board of Directors, is best resolved on a case-by-case basis by a ruling applicable only to the Petitioner and any Intervenor, and not by adoption of a rule of general applicability.
Final Decision means a decision rendered by the Board of Directors on issues raised in a Petition or Request to Intervene that have been accepted for consideration.
Intervenor means a Bank, Member, or other entity that has been granted leave to intervene in the consideration of a Petition by the Board of Directors.
Managing Director means the Managing Director of the Finance Board.
No-Action Letter means a written statement issued to a Bank or the Office of Finance providing that Finance Board staff will not recommend supervisory or other action to the Board of Directors for failure to comply with a specific provision of the Act or a Finance Board rule, regulation, policy, or order, if a requester undertakes a proposed transaction or activity.
Party means a Petitioner, an Intervenor, or the Finance Board.
Petition means a Petition for Case-by-Case Determination or a Petition for Review of a Disputed Supervisory Determination.
Petitioner means the Office of Finance or a Bank that has filed a Petition.
Regulatory Interpretation means written guidance issued by Finance Board staff with respect to application of the Act or a Finance Board rule, regulation, policy, or order to a proposed transaction or activity.
Requester means an entity or person that has submitted an application for a Waiver or Approval or a request for a No-Action Letter or Regulatory Interpretation.
Supervisory determination means a Finance Board finding in a report of examination, order, or directive, or a Finance Board order or directive concerning safety and soundness or compliance matters that requires mandatory action by a Bank or the Office of Finance.
Waiver means a written statement issued to a Bank, a Member, or the Office of Finance that waives a provision, restriction, or requirement of a Finance Board rule, regulation, policy, or order, or a required submission of information, not otherwise required by law, in connection with a particular transaction or activity.
[64 FR 30883, June 9, 1999, as amended at 65 FR 8257, Feb. 18, 2000; 67 FR 12844, Mar. 20, 2002]