{"data":{"id":"us/12-cfr-1266.8","jurisdiction":"us","citation":"12 CFR 1266.8","heading":"Banks as secured creditors.","body":"(a) Except as provided in paragraph (b) of this section, notwithstanding any other provision of law, any security interest granted to a Bank by a member, or by an affiliate of a member, shall be entitled to priority over the claims and rights of any party, including any receiver, conservator, trustee or similar party having rights of a lien creditor, to such collateral.\n(b) A Bank's security interest as described in paragraph (a) of this section shall not be entitled to priority over the claims and rights of a party that:\n(1) Would be entitled to priority under otherwise applicable law; and\n(2) Is an actual bona fide purchaser for value of such collateral or is an actual secured party whose security interest in such collateral is perfected in accordance with applicable state law.","path":["Title 12—Banks and Banking","CHAPTER XII—FEDERAL HOUSING FINANCE AGENCY","SUBCHAPTER D—FEDERAL HOME LOAN BANKS","PART 1266—ADVANCES","Subpart A—Advances to Members"],"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":"d7d56937217540969b109f369adb72f2e02c6b1219d7d4f1c8e2912e80a9c2ad","source_id":"us-cfr","stale":true,"prev":"us/12-cfr-1266.7","next":"us/12-cfr-1266.9"},"notice":"GroundRules: Original legal text. Not legal advice."}