(a) Farmer Mac may make a written request for our approval to purchase and hold other non-program investments that do not satisfy the requirements of § 652.20. Your request for our approval to purchase and hold other non-program investments at a minimum must:
- (1) Describe the investment structure;
- (2) Explain the purpose and objectives for making the investment; and
- (3) Discuss the risk characteristics of the investment, including an analysis of the investment's impact to capital.
- (b) We may impose written conditions in conjunction with our approval of your request to invest in other non-program investments.
- (c) For purposes of applying the provisions of this subpart, except § 652.20, investments approved under this section are treated the same as eligible non-program investments unless our conditions of approval state otherwise.
[83 FR 55098, Nov. 2, 2018]