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 907—PROCEDURES > SUBPART B—Waivers, Approvals, No-Action Letters, and Regulatory Interpretations (§907.2 to §907.7) > 907.4—No-Action Letters.

907.4—No-Action Letters.

(a) Authority. Finance Board staff, in its discretion, may issue a No-Action Letter to a Bank or the Office of Finance stating that staff will not recommend supervisory or other action to the Board of Directors for failure to comply with a specific provision of the Act or a Finance Board rule, regulation, policy, or order, if a requester undertakes a proposed transaction or activity. The Board of Directors may modify or supersede a No-Action Letter.
(b) Requests. A Bank or the Office of Finance may request a No-Action Letter in accordance with § 907.6.

Code of Federal Regulations

[64 FR 30883, June 9, 1999, as amended at 65 FR 8257, Feb. 18, 2000]