Title 12 — Banks and BankingRelease 119-73not60
§1429 Eligibility to Secure Advances
Title 12 › Chapter 11— FEDERAL HOME LOAN BANKS › § 1429
Summary
Members of a Federal Home Loan Bank may apply in writing for advances. The bank decides the form of the application and can refuse it or approve it with any conditions it sets.
Full Legal Text
Title 12, §1429
Banks and Banking — Source: USLM XML via OLRC
Any member of a Federal Home Loan Bank shall be entitled to apply in writing for advances. Such application shall be in such form as shall be required by the Federal Home Loan Bank. Such Federal Home Loan Bank may at its discretion deny any such application, or may grant it on such conditions as the Federal Home Loan Bank may prescribe.
Legislative History
Notes & Related Subsidiaries
Editorial Notes
Amendments
1999—Pub. L. 106–102 struck out “with the approval of the Board” after “Federal Home Loan Bank” in second sentence and struck out “, subject to the approval of the Board,” after “deny any such application, or” in third sentence. 1989—Pub. L. 101–73, § 710(a), struck out “or nonmember borrower” after “Any member”. Pub. L. 101–73, § 701(b)(1), (3)(A), substituted “Board” for “board” wherever appearing.
Reference
Citations & Metadata
Citation
12 U.S.C. § 1429
Title 12 — Banks and Banking
Last Updated
Apr 3, 2026
Release point: 119-73not60