Title 12

Volume 10 CHAPTER XII SUBCHAP D

Subchapter D - Federal Home Loan Banks

12:10.0.2.4.40PART 1260
PART 1260 - SHARING OF INFORMATION AMONG FEDERAL HOME LOAN BANKS
12:10.0.2.4.40.0.1.1SECTION 1260.1
     1260.1 Definitions.
12:10.0.2.4.40.0.1.2SECTION 1260.2
     1260.2 Bank information to be shared.
12:10.0.2.4.40.0.1.3SECTION 1260.3
     1260.3 Requests to withhold proprietary information.
12:10.0.2.4.40.0.1.4SECTION 1260.4
     1260.4 Timing and form of information distribution.
12:10.0.2.4.40.0.1.5SECTION 1260.5
     1260.5 Control and disclosure of shared information.
12:10.0.2.4.41PART 1261
PART 1261 - FEDERAL HOME LOAN BANK DIRECTORS
12:10.0.2.4.41.1SUBPART A
Subpart A - Definitions
12:10.0.2.4.41.1.1.1SECTION 1261.1
     1261.1 [Reserved]
12:10.0.2.4.41.2SUBPART B
Subpart B - Federal Home Loan Bank Boards of Directors: Eligibility and Elections
12:10.0.2.4.41.2.1.1SECTION 1261.2
     1261.2 Definitions.
12:10.0.2.4.41.2.1.2SECTION 1261.3
     1261.3 General provisions.
12:10.0.2.4.41.2.1.3SECTION 1261.4
     1261.4 Designation of member directorships.
12:10.0.2.4.41.2.1.4SECTION 1261.5
     1261.5 Director eligibility.
12:10.0.2.4.41.2.1.5SECTION 1261.6
     1261.6 Determination of member votes.
12:10.0.2.4.41.2.1.6SECTION 1261.7
     1261.7 Nominations for member and independent directorships.
12:10.0.2.4.41.2.1.7SECTION 1261.8
     1261.8 Election process.
12:10.0.2.4.41.2.1.8SECTION 1261.9
     1261.9 Actions affecting director elections.
12:10.0.2.4.41.2.1.9SECTION 1261.10
     1261.10 Independent director conflict of interests.
12:10.0.2.4.41.2.1.10SECTION 1261.11
     1261.11 Conflict-of-interests policy for Bank directors.
12:10.0.2.4.41.2.1.11SECTION 1261.12
     1261.12 Reporting requirements for Bank directors.
12:10.0.2.4.41.2.1.12SECTION 1261.13
     1261.13 Ineligible Bank directors.
12:10.0.2.4.41.2.1.13SECTION 1261.14
     1261.14 Vacant Bank directorships.
12:10.0.2.4.41.2.1.14SECTION 1261.15
     1261.15 Minimum number of member directorships.
12:10.0.2.4.41.2.1.15SECTION 1261.16
     1261.16 [Reserved]
12:10.0.2.4.41.3SUBPART C
Subpart C - Federal Home Loan Bank Directors' Compensation and Expenses
12:10.0.2.4.41.3.1.1SECTION 1261.20
     1261.20 Definitions.
12:10.0.2.4.41.3.1.2SECTION 1261.21
     1261.21 General.
12:10.0.2.4.41.3.1.3SECTION 1261.22
     1261.22 Directors' compensation policy.
12:10.0.2.4.41.3.1.4SECTION 1261.23
     1261.23 Director disapproval.
12:10.0.2.4.41.3.1.5SECTION 1261.24
     1261.24 Board meetings.
12:10.0.2.4.41.4SUBPART D
Subpart D [Reserved]
12:10.0.2.4.42PART 1263
PART 1263 - MEMBERS OF THE BANKS
12:10.0.2.4.42.1SUBPART A
Subpart A - Definitions
12:10.0.2.4.42.1.1.1SECTION 1263.1
     1263.1 Definitions.
12:10.0.2.4.42.2SUBPART B
Subpart B - Membership Application Process
12:10.0.2.4.42.2.1.1SECTION 1263.2
     1263.2 Membership application requirements.
12:10.0.2.4.42.2.1.2SECTION 1263.3
     1263.3 Decision on application.
12:10.0.2.4.42.2.1.3SECTION 1263.4
     1263.4 Automatic membership.
12:10.0.2.4.42.2.1.4SECTION 1263.5
     1263.5 Appeals.
12:10.0.2.4.42.3SUBPART C
Subpart C - Eligibility Requirements
12:10.0.2.4.42.3.1.1SECTION 1263.6
     1263.6 General eligibility requirements.
12:10.0.2.4.42.3.1.2SECTION 1263.7
     1263.7 Duly organized requirement.
12:10.0.2.4.42.3.1.3SECTION 1263.8
     1263.8 Subject to inspection and regulation requirement.
12:10.0.2.4.42.3.1.4SECTION 1263.9
     1263.9 Makes long-term home mortgage loans requirement.
12:10.0.2.4.42.3.1.5SECTION 1263.10
     1263.10 Ten percent requirement for certain insured depository institution applicants.
12:10.0.2.4.42.3.1.6SECTION 1263.11
     1263.11 Financial condition requirement for depository institutions and CDFI credit unions.
12:10.0.2.4.42.3.1.7SECTION 1263.12
     1263.12 Character of management requirement.
12:10.0.2.4.42.3.1.8SECTION 1263.13
     1263.13 Home financing policy requirement.
12:10.0.2.4.42.3.1.9SECTION 1263.14
     1263.14 De novo insured depository institution applicants.
12:10.0.2.4.42.3.1.10SECTION 1263.15
     1263.15 Recently consolidated applicants.
12:10.0.2.4.42.3.1.11SECTION 1263.16
     1263.16 Financial condition requirement for insurance company and certain CDFI applicants.
12:10.0.2.4.42.3.1.12SECTION 1263.17
     1263.17 Rebuttable presumptions.
12:10.0.2.4.42.3.1.13SECTION 1263.18
     1263.18 Determination of appropriate Bank district for membership.
12:10.0.2.4.42.3.1.14SECTION 1263.19
     1263.19 Non-federally-insured credit unions.
12:10.0.2.4.42.4SUBPART D
Subpart D - Stock Requirements
12:10.0.2.4.42.4.1.1SECTION 1263.20
     1263.20 Stock purchase.
12:10.0.2.4.42.4.1.2SECTION 1263.21
     1263.21 [Reserved]
12:10.0.2.4.42.4.1.3SECTION 1263.22
     1263.22 Annual calculation of stock holdings.
12:10.0.2.4.42.4.1.4SECTION 1263.23
     1263.23 Excess stock.
12:10.0.2.4.42.5SUBPART E
Subpart E - Withdrawal, Termination and Readmission
12:10.0.2.4.42.5.1.1SECTION 1263.24
     1263.24 Consolidations involving members.
12:10.0.2.4.42.5.1.2SECTION 1263.25
     1263.25 [Reserved]
12:10.0.2.4.42.5.1.3SECTION 1263.26
     1263.26 Voluntary withdrawal from membership.
12:10.0.2.4.42.5.1.4SECTION 1263.27
     1263.27 Involuntary termination of membership.
12:10.0.2.4.42.5.1.5SECTION 1263.28
     1263.28 [Reserved]
12:10.0.2.4.42.5.1.6SECTION 1263.29
     1263.29 Disposition of claims.
12:10.0.2.4.42.5.1.7SECTION 1263.30
     1263.30 Readmission to membership.
12:10.0.2.4.42.6SUBPART F
Subpart F - Other Membership Provisions
12:10.0.2.4.42.6.1.1SECTION 1263.31
     1263.31 Reports and examinations.
12:10.0.2.4.42.6.1.2SECTION 1263.32
     1263.32 Official membership insignia.
12:10.0.2.4.43PART 1264
PART 1264 - FEDERAL HOME LOAN BANK HOUSING ASSOCIATES
12:10.0.2.4.43.0.1.1SECTION 1264.1
     1264.1 Definitions.
12:10.0.2.4.43.0.1.2SECTION 1264.2
     1264.2 Bank authority to make advances to housing associates.
12:10.0.2.4.43.0.1.3SECTION 1264.3
     1264.3 Housing associate eligibility requirements.
12:10.0.2.4.43.0.1.4SECTION 1264.4
     1264.4 Satisfaction of eligibility requirements.
12:10.0.2.4.43.0.1.5SECTION 1264.5
     1264.5 Housing associate application process.
12:10.0.2.4.43.0.1.6SECTION 1264.6
     1264.6 Appeals.
12:10.0.2.4.44PART 1265
PART 1265 - CORE MISSION ACTIVITIES
12:10.0.2.4.44.0.1.1SECTION 1265.1
     1265.1 Definitions.
12:10.0.2.4.44.0.1.2SECTION 1265.2
     1265.2 Mission of the Banks.
12:10.0.2.4.44.0.1.3SECTION 1265.3
     1265.3 Core mission activities.
12:10.0.2.4.45PART 1266
PART 1266 - ADVANCES
12:10.0.2.4.45.1SUBPART A
Subpart A - Advances to Members
12:10.0.2.4.45.1.1.1SECTION 1266.1
     1266.1 Definitions.
12:10.0.2.4.45.1.1.2SECTION 1266.2
     1266.2 Authorization and application for advances; obligation to repay advances.
12:10.0.2.4.45.1.1.3SECTION 1266.3
     1266.3 Purpose of long-term advances; Proxy test.
12:10.0.2.4.45.1.1.4SECTION 1266.4
     1266.4 Limitations on access to advances.
12:10.0.2.4.45.1.1.5SECTION 1266.5
     1266.5 Terms and conditions for advances.
12:10.0.2.4.45.1.1.6SECTION 1266.6
     1266.6 Fees.
12:10.0.2.4.45.1.1.7SECTION 1266.7
     1266.7 Collateral.
12:10.0.2.4.45.1.1.8SECTION 1266.8
     1266.8 Banks as secured creditors.
12:10.0.2.4.45.1.1.9SECTION 1266.9
     1266.9 Pledged collateral; verification.
12:10.0.2.4.45.1.1.10SECTION 1266.10
     1266.10 Collateral valuation; appraisals.
12:10.0.2.4.45.1.1.11SECTION 1266.11
     1266.11 [Reserved]
12:10.0.2.4.45.1.1.12SECTION 1266.12
     1266.12 Intradistrict transfer of advances.
12:10.0.2.4.45.1.1.13SECTION 1266.13
     1266.13 Special advances to savings associations.
12:10.0.2.4.45.1.1.14SECTION 1266.14
     1266.14 Advances to the Savings Association Insurance Fund.
12:10.0.2.4.45.1.1.15SECTION 1266.15
     1266.15 Liquidation of advances upon termination of membership.
12:10.0.2.4.45.2SUBPART B
Subpart B - Advances to Housing Associates
12:10.0.2.4.45.2.1.1SECTION 1266.16
     1266.16 Scope.
12:10.0.2.4.45.2.1.2SECTION 1266.17
     1266.17 Advances to housing associates.
12:10.0.2.4.46PART 1267
PART 1267 - FEDERAL HOME LOAN BANK INVESTMENTS
12:10.0.2.4.46.0.1.1SECTION 1267.1
     1267.1 Definitions.
12:10.0.2.4.46.0.1.2SECTION 1267.2
     1267.2 Authorized investments and transactions.
12:10.0.2.4.46.0.1.3SECTION 1267.3
     1267.3 Prohibited investments and prudential rules.
12:10.0.2.4.46.0.1.4SECTION 1267.4
     1267.4 Limitations and prudential requirements on use of derivative instruments.
12:10.0.2.4.47PART 1268
PART 1268 - ACQUIRED MEMBER ASSETS
12:10.0.2.4.47.0.1.1SECTION 1268.1
     1268.1 Definitions.
12:10.0.2.4.47.0.1.2SECTION 1268.2
     1268.2 Authorization for acquired member assets.
12:10.0.2.4.47.0.1.3SECTION 1268.3
     1268.3 Asset requirement.
12:10.0.2.4.47.0.1.4SECTION 1268.4
     1268.4 Member or housing associate nexus requirement.
12:10.0.2.4.47.0.1.5SECTION 1268.5
     1268.5 Credit risk-sharing requirement.
12:10.0.2.4.47.0.1.6SECTION 1268.6
     1268.6 Servicing of AMA loans.
12:10.0.2.4.47.0.1.7SECTION 1268.7
     1268.7 Reporting requirements for acquired member assets.
12:10.0.2.4.47.0.1.8SECTION 1268.8
     1268.8 Administrative transactions and agreements between Banks.
12:10.0.2.4.48PART 1269
PART 1269 - STANDBY LETTERS OF CREDIT
12:10.0.2.4.48.0.1.1SECTION 1269.1
     1269.1 Definitions.
12:10.0.2.4.48.0.1.2SECTION 1269.2
     1269.2 Standby letters of credit on behalf of members.
12:10.0.2.4.48.0.1.3SECTION 1269.3
     1269.3 Standby letters of credit on behalf of housing associates.
12:10.0.2.4.48.0.1.4SECTION 1269.4
     1269.4 Obligation to Bank under all standby letters of credit.
12:10.0.2.4.48.0.1.5SECTION 1269.5
     1269.5 Additional provisions applying to all standby letters of credit.
12:10.0.2.4.49PART 1270
PART 1270 - LIABILITIES
12:10.0.2.4.49.1SUBPART A
Subpart A - Definitions
12:10.0.2.4.49.1.1.1SECTION 1270.1
     1270.1 Definitions.
12:10.0.2.4.49.2SUBPART B
Subpart B - Sources of Funds
12:10.0.2.4.49.2.1.1SECTION 1270.2
     1270.2 Authorized liabilities.
12:10.0.2.4.49.2.1.2SECTION 1270.3
     1270.3 Deposits from members.
12:10.0.2.4.49.3SUBPART C
Subpart C - Consolidated Obligations
12:10.0.2.4.49.3.1.1SECTION 1270.4
     1270.4 Issuance of consolidated obligations.
12:10.0.2.4.49.3.1.2SECTION 1270.5
     1270.5 Bank operations.
12:10.0.2.4.49.3.1.3SECTION 1270.6
     1270.6 Transactions in consolidated obligations.
12:10.0.2.4.49.3.1.4SECTION 1270.7
     1270.7 Lost, stolen, destroyed, mutilated or defaced consolidated obligations.
12:10.0.2.4.49.3.1.5SECTION 1270.8
     1270.8 Administrative provision.
12:10.0.2.4.49.3.1.6SECTION 1270.9
     1270.9 Conditions for issuance of consolidated obligations.
12:10.0.2.4.49.3.1.7SECTION 1270.10
     1270.10 Joint and several liability.
12:10.0.2.4.49.3.1.8SECTION 1270.11
     1270.11 Savings clause.
12:10.0.2.4.49.4SUBPART D
Subpart D - Book-Entry Procedure for Consolidated Obligations
12:10.0.2.4.49.4.1.1SECTION 1270.12
     1270.12 Law governing rights and obligations of Banks, FHFA, Office of Finance, United States and Federal Reserve Banks; rights of any Person against Banks, FHFA, Office of Finance, United States and Federal Reserve Banks.
12:10.0.2.4.49.4.1.2SECTION 1270.13
     1270.13 Law governing other interests.
12:10.0.2.4.49.4.1.3SECTION 1270.14
     1270.14 Creation of Participant's Security Entitlement; security interests.
12:10.0.2.4.49.4.1.4SECTION 1270.15
     1270.15 Obligations of the Banks and the Office of Finance; no Adverse Claims.
12:10.0.2.4.49.4.1.5SECTION 1270.16
     1270.16 Authority of Federal Reserve Banks.
12:10.0.2.4.49.4.1.6SECTION 1270.17
     1270.17 Liability of Banks, FHFA, Office of Finance and Federal Reserve Banks.
12:10.0.2.4.49.4.1.7SECTION 1270.18
     1270.18 Additional requirements; notice of attachment for Book-entry consolidated obligations.
12:10.0.2.4.49.4.1.8SECTION 1270.19
     1270.19 Reference to certain Department of Treasury commentary and determinations.
12:10.0.2.4.49.4.1.9SECTION 1270.20
     1270.20 Consolidated obligations are not obligations of the United States or guaranteed by the United States.
12:10.0.2.4.50PART 1271
PART 1271 - MISCELLANEOUS FEDERAL HOME LOAN BANK OPERATIONS AND AUTHORITIES
12:10.0.2.4.50.1SUBPART A
Subpart A - Collection, Settlement, and Processing of Payment Instruments
12:10.0.2.4.50.1.1.1SECTION 1271.1
     1271.1 Definitions.
12:10.0.2.4.50.1.1.2SECTION 1271.2
     1271.2 Authority and scope.
12:10.0.2.4.50.1.1.3SECTION 1271.3
     1271.3 General provisions.
12:10.0.2.4.50.1.1.4SECTION 1271.4
     1271.4 Incidental powers.
12:10.0.2.4.50.1.1.5SECTION 1271.5
     1271.5 Operations.
12:10.0.2.4.50.1.1.6SECTION 1271.6
     1271.6 Pricing of services.
12:10.0.2.4.50.1.1.7SECTION 1271.7
     1271.7 Rights, powers, responsibilities, duties, and liabilities.
12:10.0.2.4.50.2SUBPART B
Subpart B - Miscellaneous Bank Authorities
12:10.0.2.4.50.2.1.1SECTION 1271.10
     1271.10 Transfer of funds between Banks.
12:10.0.2.4.50.2.1.2SECTION 1271.11
     1271.11 Trustee powers.
12:10.0.2.4.50.3SUBPART C
Subpart C - Bank Requests for Information
12:10.0.2.4.50.3.1.1SECTION 1271.15
     1271.15 Definitions.
12:10.0.2.4.50.3.1.2SECTION 1271.16
     1271.16 Scope.
12:10.0.2.4.50.3.1.3SECTION 1271.17
     1271.17 Request for confidential regulatory information.
12:10.0.2.4.50.3.1.4SECTION 1271.18
     1271.18 Form of request.
12:10.0.2.4.50.3.1.5SECTION 1271.19
     1271.19 Storage of confidential regulatory information.
12:10.0.2.4.50.3.1.6SECTION 1271.20
     1271.20 Access to confidential regulatory information.
12:10.0.2.4.50.3.1.7SECTION 1271.21
     1271.21 Third party requests for confidential regulatory information.
12:10.0.2.4.50.3.1.8SECTION 1271.22
     1271.22 Computer data.
12:10.0.2.4.50.4SUBPART D
Subpart D - Financing Corporation Operations
12:10.0.2.4.50.4.1.1SECTION 1271.30
     1271.30 Definitions.
12:10.0.2.4.50.4.1.2SECTION 1271.31
     1271.31 General authority.
12:10.0.2.4.50.4.1.3SECTION 1271.32
     1271.32 Authority to establish investment policies and procedures.
12:10.0.2.4.50.4.1.4SECTION 1271.33
     1271.33 Book-entry procedure for Financing Corporation obligations.
12:10.0.2.4.50.4.1.5SECTION 1271.34
     1271.34 Bank and Office of Finance employees.
12:10.0.2.4.50.4.1.6SECTION 1271.35
     1271.35 Budget and expenses.
12:10.0.2.4.50.4.1.7SECTION 1271.36
     1271.36 Administrative expenses.
12:10.0.2.4.50.4.1.8SECTION 1271.37
     1271.37 Non-administrative expenses; assessments.
12:10.0.2.4.50.4.1.9SECTION 1271.38
     1271.38 Reports to FHFA.
12:10.0.2.4.50.4.1.10SECTION 1271.39
     1271.39 Review of books and records.
12:10.0.2.4.50.5SUBPART E
Subpart E - Authority for Bank Assistance of the Resolution Funding Corporation
12:10.0.2.4.50.5.1.1SECTION 1271.41
     1271.41 Bank employees.
12:10.0.2.4.51PART 1272
PART 1272 - NEW BUSINESS ACTIVITIES
12:10.0.2.4.51.0.1.1SECTION 1272.1
     1272.1 Definitions.
12:10.0.2.4.51.0.1.2SECTION 1272.2
     1272.2 Limitation on Bank authority to undertake new business activities.
12:10.0.2.4.51.0.1.3SECTION 1272.3
     1272.3 New business activity notice requirement.
12:10.0.2.4.51.0.1.4SECTION 1272.4
     1272.4 Review process.
12:10.0.2.4.51.0.1.5SECTION 1272.5
     1272.5 Additional information.
12:10.0.2.4.51.0.1.6SECTION 1272.6
     1272.6 Examinations.
12:10.0.2.4.51.0.1.7SECTION 1272.7
     1272.7 Approval of notices.
12:10.0.2.4.52PART 1273
PART 1273 - OFFICE OF FINANCE
12:10.0.2.4.52.0.1.1SECTION 1273.1
     1273.1 Definitions.
12:10.0.2.4.52.0.1.2SECTION 1273.2
     1273.2 Authority of the OF.
12:10.0.2.4.52.0.1.3SECTION 1273.3
     1273.3 Functions of the OF.
12:10.0.2.4.52.0.1.4SECTION 1273.4
     1273.4 FHFA oversight.
12:10.0.2.4.52.0.1.5SECTION 1273.5
     1273.5 Funding of the OF.
12:10.0.2.4.52.0.1.6SECTION 1273.6
     1273.6 Debt management duties of the OF.
12:10.0.2.4.52.0.1.7SECTION 1273.7
     1273.7 Structure of the OF board of directors.
12:10.0.2.4.52.0.1.8SECTION 1273.8
     1273.8 General duties of the OF board of directors.
12:10.0.2.4.52.0.1.9SECTION 1273.9
     1273.9 Audit Committee.
12:10.0.2.4.52.0.1.10.7APPENDIX Appendix A
  Appendix A to Part 1273 - Exceptions to the General Disclosure Standards
12:10.0.2.4.53PART 1274
PART 1274 - FINANCIAL STATEMENTS OF THE BANKS
12:10.0.2.4.53.0.1.1SECTION 1274.1
     1274.1 Definitions.
12:10.0.2.4.53.0.1.2SECTION 1274.2
     1274.2 Audit requirements.
12:10.0.2.4.53.0.1.3SECTION 1274.3
     1274.3 Requirements to provide financial and other information to FHFA and the OF.
12:10.0.2.4.54PART 1277
PART 1277 - FEDERAL HOME LOAN BANK CAPITAL REQUIREMENTS, CAPITAL STOCK AND CAPITAL PLANS
12:10.0.2.4.54.1SUBPART A
Subpart A - Definitions
12:10.0.2.4.54.1.1.1SECTION 1277.1
     1277.1 Definitions.
12:10.0.2.4.54.2SUBPART B
Subpart B - Bank Capital Requirements
12:10.0.2.4.54.2.1.1SECTION 1277.2
     1277.2 Total capital requirement.
12:10.0.2.4.54.2.1.2SECTION 1277.3
     1277.3 Risk-based capital requirement.
12:10.0.2.4.54.2.1.3SECTION 1277.4
     1277.4 Credit risk capital requirement.
12:10.0.2.4.54.2.1.4SECTION 1277.5
     1277.5 Market risk capital requirement.
12:10.0.2.4.54.2.1.5SECTION 1277.6
     1277.6 Operational risk capital requirement.
12:10.0.2.4.54.2.1.6SECTION 1277.7
     1277.7 Limits on unsecured extensions of credit; reporting requirements.
12:10.0.2.4.54.2.1.7SECTION 1277.8
     1277.8 Reporting requirements.
12:10.0.2.4.54.3SUBPART C
Subpart C - Bank Capital Stock
12:10.0.2.4.54.3.1.1SECTION 1277.20
     1277.20 Classes of capital stock.
12:10.0.2.4.54.3.1.2SECTION 1277.21
     1277.21 Issuance of capital stock.
12:10.0.2.4.54.3.1.3SECTION 1277.22
     1277.22 Minimum investment in capital stock.
12:10.0.2.4.54.3.1.4SECTION 1277.23
     1277.23 Dividends.
12:10.0.2.4.54.3.1.5SECTION 1277.24
     1277.24 Liquidation, merger, or consolidation.
12:10.0.2.4.54.3.1.6SECTION 1277.25
     1277.25 Transfer of capital stock.
12:10.0.2.4.54.3.1.7SECTION 1277.26
     1277.26 Redemption and repurchase of capital stock.
12:10.0.2.4.54.3.1.8SECTION 1277.27
     1277.27 Other restrictions on the repurchase or redemption of Bank stock.
12:10.0.2.4.54.4SUBPART D
Subpart D - Bank Capital Plans
12:10.0.2.4.54.4.1.1SECTION 1277.28
     1277.28 Bank capital plans.
12:10.0.2.4.54.4.1.2SECTION 1277.29
     1277.29 Amendments to a Bank's capital plan.
12:10.0.2.4.55PART 1278
PART 1278 - VOLUNTARY MERGERS OF FEDERAL HOME LOAN BANKS
12:10.0.2.4.55.0.1.1SECTION 1278.1
     1278.1 Definitions.
12:10.0.2.4.55.0.1.2SECTION 1278.2
     1278.2 Authority.
12:10.0.2.4.55.0.1.3SECTION 1278.3
     1278.3 Merger agreement.
12:10.0.2.4.55.0.1.4SECTION 1278.4
     1278.4 Merger application.
12:10.0.2.4.55.0.1.5SECTION 1278.5
     1278.5 Approval by Director.
12:10.0.2.4.55.0.1.6SECTION 1278.6
     1278.6 Ratification by Bank Members.
12:10.0.2.4.55.0.1.7SECTION 1278.7
     1278.7 Consummation of the merger.