§ 1290.4 FHFA review and decision on Community Support Statements.
Primary source
Verbatim text below is from the Electronic Code of Federal Regulations (eCFR), a public-domain U.S. government work. Always verify the current version with the eCFR before relying on it for any legal matter.
Full Text
Review by FHFA.(a) FHFA will review each member approximately once every two years for compliance with the community support requirements of this part.
Complete Community Support Statements.(b) A Community Support Statement is complete when a member has provided to FHFA all of the information required by this part.
Decision on Community Support Statements.(c) FHFA will provide written notice to the member's Bank of FHFA's determination regarding the Community Support Statement submitted by the member. A notice placing a member on probation or restricting the member's access to long-term Bank advances will identify the reasons for FHFA's determination. The Bank must promptly notify the member of FHFA's determination regarding the member's Community Support Statement.
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