CFR > Title 12 - Banks and Banking > CHAPTER IX—FEDERAL HOUSING FINANCE BOARD > SUBCHAPTER J—NEW FEDERAL HOME LOAN BANK ACTIVITIES (parts 980 to 980) > PART 980—NEW BUSINESS ACTIVITIES > 980.1—Definitions.

980.1—Definitions.

As used in this part:
New business activity means any business activity undertaken, transacted, conducted, or engaged in by a Bank that has not been previously undertaken, transacted, conducted, or engaged in by that Bank, or was previously undertaken, transacted, conducted, or engaged in under materially different terms and conditions, such that it:
(1) Involves the acceptance of collateral enumerated under § 950.7(a)(4) of this chapter ;
(2) Involves the acceptance of classes of collateral enumerated under § 950.7(b) of this chapter for the first time;
(3) Entails risks not previously and regularly managed by that Bank, its members, or both, as appropriate; or
(4) Involves operations not previously undertaken by that Bank.

Code of Federal Regulations

Effective Date Note: At 75 FR 76622, Dec. 9, 2010, redesignated § 1272.1 was amended by adding in correct alphabetical order definitions for “Bank,” “Bank Act” and “FHFA”, effective Jan. 10, 2011. For the convenience of the user, the added text is set forth as follows: