{"data":{"id":"us/12-cfr-1263.15","jurisdiction":"us","citation":"12 CFR 1263.15","heading":"Recently consolidated applicants.","body":"An applicant that has recently consolidated with another institution is subject to the requirements of §§ 1263.7 to 1263.13 except as provided in this section.\n(a) Financial condition requirement. For purposes of § 1263.11(a)(1) and 1263.11(b)(3)(i)(A), a recently consolidated applicant that has not yet filed regulatory financial reports as a consolidated entity for six quarters or three calendar year-ends shall provide to the Bank:\n(1) All regulatory financial reports that the applicant has filed as a consolidated entity; and\n(2) Pro forma combined financial statements for those quarters for which actual combined regulatory financial reports are unavailable.\n(b) Home financing policy requirement. For purposes of § 1263.13, a recently consolidated applicant that has not yet received its first CRA performance evaluation as a consolidated entity shall file as part of its application a written justification acceptable to the Bank of how and why the applicant's home financing credit policy and lending practices will meet the credit needs of its community.\n(c) Makes long-term home mortgage loans requirement; 10 percent requirement. For purposes of determining compliance with §§ 1263.9 and 1263.10, a Bank may, in its discretion, permit a recently consolidated applicant that has not yet filed a regulatory financial report as a consolidated entity to provide the pro forma financial statement for the consolidated entity that the consolidating entities filed with the regulator that approved the consolidation.","path":["Title 12—Banks and Banking","CHAPTER XII—FEDERAL HOUSING FINANCE AGENCY","SUBCHAPTER D—FEDERAL HOME LOAN BANKS","PART 1263—MEMBERS OF THE BANKS","Subpart C—Eligibility Requirements"],"source_url":"https://www.ecfr.gov/api/versioner/v1/full/2026-08-25/title-12.xml","current_through":"2026-08-25","vintage":"","retrieved_at":"2026-08-27T02:24:16Z","sha256":"b15fe029624b93b0e28ae85b6d0e8e8f5b6e29b5e9f03992bd8582be62e3de13","source_id":"us-cfr","stale":true,"prev":"us/12-cfr-1263.14","next":"us/12-cfr-1263.16"},"notice":"GroundRules: Original legal text. Not legal advice."}