CFR > Title 12 - Banks and Banking > CHAPTER IX—FEDERAL HOUSING FINANCE BOARD > SUBCHAPTER B—FEDERAL HOUSING FINANCE BOARD ORGANIZATION AND OPERATIONS (parts 905 to 912) > PART 905—DESCRIPTION OF ORGANIZATION AND FUNCTIONS > SUBPART A—Functions and Responsibilities of Finance Board (§905.1 to §905.4) > 905.4—Duties of the Finance Board.

905.4—Duties of the Finance Board.

(a) Bank System. The Finance Board supervises and regulates the Banks and the Office of Finance. Specifically, its duties are:
(1) To ensure that the Banks operate in a safe and sound manner;
(2) To supervise all business operations of the Banks, which may include:
(i) Prescribing conditions upon which Banks may advance funds to their members and housing associates;
(ii) Prescribing rules and conditions under which a Bank may borrow funds, pay interest on those funds, or issue obligations;
(iii) Requiring examinations of the Banks; and
(iv) Appointing the public interest members of the boards of directors of the Banks;
(3) To ensure that the Banks fulfill their housing finance and community lending mission;
(4) To ensure that the Banks remain adequately capitalized; and
(5) To ensure that the Banks are able to raise funds in the capital markets.
(b) Financing Corporation. The Finance Board also oversees the operations of the Financing Corporation, including its issuance of obligations.

Code of Federal Regulations

[67 FR 12843, Mar. 20, 2002]