---
kind: "section"
citation: "12 C.F.R. § 1263.15"
title: "12"
number: "1263.15"
heading: "Recently consolidated applicants."
url: "https://uscodex.org/cfr/12/1263.15"
---

# §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](/cfr/12/1263.7..1263.13.md) except as provided in this section.

- (a) **Financial condition requirement.** For purposes of § [1263.11(a)(1)](/cfr/12/1263.11.md?p=a-1) and [1263.11(b)(3)(i)(A)](/cfr/12/1263.11.md?p=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](/cfr/12/1263.13.md), 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](/cfr/12/1263.9.md) and [1263.10](/cfr/12/1263.10.md), 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.

## Notes

### Authority

Authority: 12 U.S.C. 1422, 1423, 1424, 1426, 1430, 1442, 4511, 4513.

### Source

Source: 81 FR 3277, Jan. 20, 2016, unless otherwise noted.