12 CFR § 1261.20 - Definitions.

---
identifier: "/us/cfr/t12/s1261.20"
source: "ecfr"
legal_status: "authoritative_unofficial"
title: "12 CFR § 1261.20 - Definitions."
title_number: 12
title_name: "Banks and Banking"
section_number: "1261.20"
section_name: "Definitions."
chapter_name: "FEDERAL HOUSING FINANCE AGENCY"
subchapter_number: "D"
subchapter_name: "FEDERAL HOME LOAN BANKS"
part_number: "1261"
part_name: "FEDERAL HOME LOAN BANK DIRECTORS"
positive_law: false
currency: "2026-04-05"
last_updated: "2026-04-05"
format_version: "1.1.0"
generator: "[email protected]"
authority: "12 U.S.C. 1426, 1427, 1432, 4511 and 4526."
regulatory_source: "73 FR 55715, Sept. 26, 2008, unless otherwise noted."
cfr_part: "1261"
---


# 1261.20 Definitions.

As used in this subpart C:

*Compensation* means any payment of money or the provision of any other thing of current or potential value in connection with service as a director. Compensation includes all direct and indirect payments of benefits, both cash and non-cash, granted to or for the benefit of any director.

*Expenses* means necessary and reasonable travel, subsistence and other related expenses incurred in connection with the performance of official duties as are payable to senior officers of the Bank under the Bank's travel policy, except gift or entertainment expenses.