Regulatory Examinations: The institution has received a composite CAMELS rating of 1, 2, or 3 within the last two years.
Community Reinvestment Act Performance Evaluation: The institution's most recent CRA rating was outstanding or satisfactory.
Capital: The institution meets or exceeds all current regulatory capital requirements.
Earnings: The institution has been profitable in at least four of the last six quarters.
Enforcement Actions: Neither the institution nor its management is subject to any enforcement action. (If an enforcement action exists, the institution should call to discuss the status of the action and the progress made to date in complying with the terms of the action. Enforcement actions do not necessarily prevent an institution from becoming a member.)
Audit Opinion: The institution has received an unqualified opinion from its external auditor relating to the most recent audit of its financial statements.
Performance Trends: The institution has not experienced significant deterioration in its financial condition since its last regulatory examination.
Management History: Neither the institution nor any of its directors or senior officers have been the subject of any relevant criminal, civil, or administrative proceedings reflecting on creditworthiness, business judgment, or moral turpitude since the last regulatory examination. In addition, there are no known potential monetary liabilities, material pending lawsuits, or unsatisfied judgments against the institution.
De novo institutions and institutions that recently merged or are about to merge are subject to additional review criteria.
Additionally, if certain of the foregoing criteria with respect to an applicant vary from these requirements, the Bank may review additional information to determine whether the financial condition of the applicant is such that advances may be safely made to it, notwithstanding the variance.