---
kind: "section"
citation: "12 C.F.R. § 1266.8"
title: "12"
number: "1266.8"
heading: "Banks as secured creditors."
url: "https://uscodex.org/cfr/12/1266.8"
---

# §1266.8. Banks as secured creditors.

- (a) Except as provided in [paragraph (b)](#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.
- (b) A Bank's security interest as described in [paragraph (a)](#a) of this section shall not be entitled to priority over the claims and rights of a party that:
  - (1) Would be entitled to priority under otherwise applicable law; and
  - (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.

## Notes

### Amendments

[58 FR 29469, May 20, 1993. Redesignated at 65 FR 8256, Feb. 18, 2000 and further redesignated at 65 FR 44429, July 18, 2000, as amended at 67 FR 12851, Mar. 20, 2002]

### Authority

Authority: 12 U.S.C. 1426, 1429, 1430, 1430b, 1431, 4511(b), 4513, 4526(a).

### Source

Source: 58 FR 29469, May 20, 1993, unless otherwise noted. Redesignated at 65 FR 8256, Feb. 18, 2000, and 75 FR 76622, Dec. 9, 2010.

### Amendments

[58 FR 29469, May 20, 1993. Redesignated at 65 FR 8256, Feb. 18, 2000 and further redesignated at 65 FR 44429, July 18, 2000, as amended at 67 FR 12851, Mar. 20, 2002]