For purposes of this part:
Audit Committee means the OF Independent Directors acting as the committee established in accordance with Sec. 1273.9 of this part.
Bank System means the Federal Home Loan Bank System, consisting of the twelve Banks and the Office of Finance.
Chair means the chairperson of the board of directors of the Office of Finance.
Chief Executive Officer or CEO means the chief executive officer of the Office of Finance.
Consolidated obligations means any bond, debenture or note on which the Banks are jointly and severally liable and which was issued under section 11 of the Bank Act (12 U.S.C. 1431) and any implementing regulations, whether or not such instrument was originally issued jointly by the Banks or by the Federal Housing Finance Board on behalf of the Banks.
Financing Corporation or FICO means the Financing Corporation established and supervised by FHFA under section 21 of the Bank Act (12 U.S.C. 1441).
Generally accepted accounting principles or GAAP means accounting principles generally accepted in the United States.
Independent Director means a member of the OF board of directors who meets the qualifications set forth in Sec. 1273.7(a)(2) of this part.
NRSRO means a credit rating organization registered as a Nationally Recognized Statistical Rating Organization with the Securities and Exchange Commission.
Office of Finance or OF means the Office of Finance, a joint office of the Banks established under this part 1273 and referenced in the Bank Act and the Safety and Soundness Act.
Resolution Funding Corporation or REFCORP means the Resolution Funding Corporation established by section 21B of the Bank Act (12 U.S.C. 1441b). 75 FR 23161, May 3, 2010, as amended at 78 FR 2328, Jan. 13, 2013]