As a part of our Tier 2 Program requirements and our obligation to the Federal Housing Finance Agency, our prime contractors are required to report Tier 2 spend quarterly. A description of our two reporting requirements are outlined below:
1 - Direct Diverse and Non-Diverse Spend
A prime contractor (tier 1) must report spend if they utilize a diverse and/or non-diverse subcontractor (tier 2) for services or goods that directly benefits or supports a Bank project or initiative. Purchases, activities or expenditures must align with a specific contractual agreement or Statement of Work between the Bank and the prime contractor (tier 1).
2 - Diverse Spend with a Non-Diverse-Owned Business
The dollar amount(s) paid by the Bank to a non-diverse prime contractor (tier 1) for professional services (i.e., the amount paid for work performed in connection with providing legal, accounting, or other professional or consulting services) provided by or allocated to a partner, member or other equity owner who is a minority, woman or an individual with a disability. Purchases, activities or expenditures must directly benefit or support a Bank project or initiative.
For further details regarding our Tier 2 reporting requirements and a list of spend examples, please review our Reporting Requirements Guide.