|
|
U.S. Code, Title 12, Banks and Banking
Contents:
Show Summary
Hide Summary
General SummaryThe U.S. Code is a consolidation and codification by subject matter of the general and permanent laws of the United States. While every effort has been made to ensure that this reproduction of the Code is accurate, those using it for legal purposes should verify their results against the printed version of the Code available through the Government Printing Office.
§ 4612. Minimum Capital Levels
(a) In general
For purposes of this subchapter, the minimum capital level for each enterprise shall be the sum of—
(1) 2.50 percent of the aggregate on-balance sheet assets of the enterprise, as determined in accordance with generally accepted accounting principles;
(2) 0.45 percent of the unpaid principal balance of outstanding mortgage-backed securities and substantially equivalent instruments issued or guaranteed by the enterprise that are not included in paragraph (1); and
(3) 0.45 percent of other off-balance sheet obligations of the enterprise not included in paragraph (2) (excluding commitments in excess of 50 percent of the average dollar amount of the commitments outstanding each quarter over the preceding 4 quarters), except that the Director shall adjust such percentage to reflect differences in the credit risk of such obligations in relation to the instruments included in paragraph (2).
(b) Transition
Notwithstanding subsection (a) of this section, during the 18-month period beginning upon October 28, 1992, the minimum capital level for each enterprise shall be the sum of—
(1) 2.25 percent of the aggregate on-balance sheet assets of the enterprise, as determined in accordance with generally accepted accounting principles;
(2) 0.40 percent of the unpaid principal balance of outstanding mortgage-backed securities and substantially equivalent instruments issued or guaranteed by the enterprise that are not included in paragraph (1); and
(3) 0.40 percent of other off-balance sheet obligations of the enterprise not included in paragraph (2) (excluding commitments in excess of 50 percent of the average dollar amount of the commitments outstanding each quarter over the preceding 4 quarters), except that the Director shall adjust such percentage to reflect differences in the credit risk of such obligations in relation to the instruments included in paragraph (2).
(Pub. L. 102–550, title XIII, § 1362, Oct. 28, 1992, 106 Stat. 3975.)
Section Referred to in Other Sections
This section is referred to in sections 1452, 1718, 4614, 4616, 4619 of this title.
Contents:
Chicago: "U.S. Congress, Office of the Law Revision Counsel", "§ 4612. Minimum Capital Levels," U.S. Code, Title 12, Banks and Banking in U.S. Code, Title 12, Banks and Banking (Washington, D.C.: Government Printing Office, 2002), Original Sources, accessed January 2, 2025, http://originalsources.com/Document.aspx?DocID=V7A7CZX92T626RD.
MLA: "U.S. Congress, Office of the Law Revision Counsel". "§ 4612. Minimum Capital Levels." U.S. Code, Title 12, Banks and Banking, in U.S. Code, Title 12, Banks and Banking, Washington, D.C., Government Printing Office, 2002, Original Sources. 2 Jan. 2025. http://originalsources.com/Document.aspx?DocID=V7A7CZX92T626RD.
Harvard: "U.S. Congress, Office of the Law Revision Counsel", '§ 4612. Minimum Capital Levels' in U.S. Code, Title 12, Banks and Banking. cited in 2002, U.S. Code, Title 12, Banks and Banking, Government Printing Office, Washington, D.C.. Original Sources, retrieved 2 January 2025, from http://originalsources.com/Document.aspx?DocID=V7A7CZX92T626RD.
|