12 CFR § 1263.15 - Recently consolidated applicants.
---
identifier: "/us/cfr/t12/s1263.15"
source: "ecfr"
legal_status: "authoritative_unofficial"
title: "12 CFR § 1263.15 - Recently consolidated applicants."
title_number: 12
title_name: "Banks and Banking"
section_number: "1263.15"
section_name: "Recently consolidated applicants."
chapter_name: "FEDERAL HOUSING FINANCE AGENCY"
subchapter_number: "D"
subchapter_name: "FEDERAL HOME LOAN BANKS"
part_number: "1263"
part_name: "MEMBERS OF THE BANKS"
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. 1422, 1423, 1424, 1426, 1430, 1442, 4511, 4513."
regulatory_source: "81 FR 3277, Jan. 20, 2016, unless otherwise noted."
cfr_part: "1263"
---
# 1263.15 Recently consolidated applicants.
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.
(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:
(1) All regulatory financial reports that the applicant has filed as a consolidated entity; and
(2) *Pro forma* combined financial statements for those quarters for which actual combined regulatory financial reports are unavailable.
(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.
(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.