---
kind: "section"
citation: "12 C.F.R. § 1290.1"
title: "12"
number: "1290.1"
heading: "Definitions."
url: "https://uscodex.org/cfr/12/1290.1"
---

# §1290.1. Definitions.


For purposes of this part:

Advisory Council means the Advisory Council each Bank is required to establish pursuant to section 10(j)(11) of the Bank Act ([12 U.S.C. 1430(j)(11)](/usc/12/1430.md?p=j-11)) and [part 1291](/cfr/12/part1291.md) of this chapter.

CDFI Fund means the Community Development Financial Institutions Fund established under [section 104(a)](/cfr/12/104.md?p=a) of the Community Development Banking and Financial Institutions Act of 1994 ([12 U.S.C. 4703(a)](/usc/12/4703.md?p=a)).

Community development financial institution or CDFI means an institution that is certified as a community development financial institution by the CDFI Fund under the Community Development Banking and Financial Institutions Act of 1994 ([12 U.S.C. 4701](/usc/12/4701.md) et seq.).

CRA means the Community Reinvestment Act of 1977, as amended ([12 U.S.C. 2901](/usc/12/2901.md), et seq.).

CRA evaluation means the public disclosure portion of the CRA performance evaluation provided by a member's appropriate Federal banking agency.

Displaced homemaker means an adult who has not worked full-time, full-year in the labor force for a number of years, and during that period, worked primarily without remuneration to care for a home and family, and currently is unemployed or underemployed and is experiencing difficulty in obtaining or upgrading employment.

First-time homebuyer means:

- (1) An individual and his or her spouse, if any, who has had no present ownership interest in a principal residence during the three-year period prior to purchase of a principal residence.
- (2) A displaced homemaker who, except for owning a residence with his or her spouse or residing in a residence owned by his or her spouse, meets the requirements of [paragraph (1)](#1) of this definition.
- (3) A single parent who, except for owning a residence with his or her spouse or residing in a residence owned by his or her spouse, meets the requirements of [paragraph (1)](#1) of this definition.

  Long-term advance means an advance with a term to maturity greater than one year.

  Restriction on access to long-term advances means a member may not borrow long-term advances or renew any maturing advance for a term to maturity greater than one year.

  Single parent means an individual who is unmarried or legally separated from a spouse and has custody or joint custody of one or more minor children or is pregnant.

  Targeted community lending means providing financing for economic development projects for targeted beneficiaries.


## Notes

### Amendments

[80 FR 30342, May 28, 2015, as amended at 81 FR 76300, Nov. 2, 2016]

### Authority

Authority: 12 U.S.C. 1430(g).

### Source

Source: 80 FR 30342, May 28, 2015, unless otherwise noted.

### Amendments

[80 FR 30342, May 28, 2015, as amended at 81 FR 76300, Nov. 2, 2016]