Historical Benefits of Federal Home Loan Bank System Sample Clauses

Historical Benefits of Federal Home Loan Bank System. The Federal Home Loan Bank System (Bank System) comprises twelve regional Banks that are instrumentalities of the United States organized under the authority of the Federal Home Loan Bank Act (Bank Act). See 12 U.S.C. 1423, 1432(a). The Banks are cooperatives; only members of a Bank may own the capital stock of a Bank and only members and certain eligible nonmember borrowers (housing associates) (such as state housing finance agencies) may obtain access to the products provided by a Bank. See 12
Sample 1Sample 2Sample 3
AutoNDA by SimpleDocs

Related to Historical Benefits of Federal Home Loan Bank System

  • Special Rules Regarding Related Entities and Branches That Are Nonparticipating Financial Institutions If a Finnish Financial Institution, that otherwise meets the requirements described in paragraph 1 of this Article or is described in paragraph 3 or 4 of this Article, has a Related Entity or branch that operates in a jurisdiction that prevents such Related Entity or branch from fulfilling the requirements of a participating FFI or deemed-compliant FFI for purposes of section 1471 of the U.S. Internal Revenue Code or has a Related Entity or branch that is treated as a Nonparticipating Financial Institution solely due to the expiration of the transitional rule for limited FFIs and limited branches under relevant U.S. Treasury Regulations, such Finnish Financial Institution shall continue to be in compliance with the terms of this Agreement and shall continue to be treated as a deemed- compliant FFI or exempt beneficial owner, as appropriate, for purposes of section 1471 of the U.S. Internal Revenue Code, provided that:

Time is Money Join Law Insider Premium to draft better contracts faster.