Products & Services: Member Products
Policy
Member
Products Policy
and Collateral Procedures
Member Products Policy
Our
Member Products Policy, effective
June 1, 2007,
addresses the Bank's management of
its products and services for
Members and Housing Associates,
including but not limited to
Advances, Standby Letters of Credit
and Acquired Member Assets.
In June 2008, the
Bank’s Board of Directors revised
the Member Products Policy to remove
the maximum overall credit limit for
a single member of five times the
Bank’s capital. This change allows
the Bank to extend credit to all
members based upon the member’s
total assets and Internal Credit
Rating (ICR) grade without
additional categorical restrictions.
The revision is to Section 1.1.1 -
Members Total Credit Exposure on
page 3 of the Members Products
Policy. The revision became
effective July 1, 2008.
In December 2007, in light of
liquidity concerns in the
marketplace, the Bank’s Board of
Directors temporarily suspended
(until June 30, 2008) the provision
on page 4 of the Member Products
Policy that limits advances to any
one member to five times the Bank’s
Regulatory Capital. All other
provisions of the Bank’s Member
Products Policy remain effective.
In October 2007, the Board of
Directors approved a recommendation to
accept certain construction loans on
non-speculative one-to-four family
properties as eligible collateral.
The Member Products Policy reflects
the expanded collateral under
Section 2.1 - Other Real Estate
Related Collateral.
Collateral Procedures
The Bank's Collateral Procedures,
effective June 1, 2007, provide
instructions for our Members to
efficiently access the Bank's
products. Please review our revised Collateral
Procedures. For Collateral Forms,
click
here.
Contact
our
Collateral Operations at 800.544.3452, ext.
5408 with any questions regarding
the Collateral Procedures
or Member Products Policy.
The Member Products Policy, Anti-Predatory Lending
Policy and the Collateral
Procedures are PDF documents. Please
contact the
webmaster, 800.544.3452, ext.
1101 with any problems with either
document.
