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United States Code
Title 12 - BANKS AND BANKINGChapter 46 - GOVERNMENT SPONSORED ENTERPRISES
Subchapter II - REQUIRED CAPITAL LEVELS FOR REGULATED ENTITIES, SPECIAL ENFORCEMENT POWERS, AND REVIEWS OF ASSETS AND LIABILITIES
Section 4613 - Critical capital levels

12 U.S.C. § 4613

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Current through P.L. 118-107 (published on www.congress.gov on 11/21/2024)
Section 4613 - Critical capital levels
(a) Enterprises

For purposes of this subchapter, the critical capital level for each enterprise shall be the sum of-

(1) 1.25 percent of the aggregate on-balance sheet assets of the enterprise, as determined in accordance with generally accepted accounting principles;
(2) 0.25 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) 0.25 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) Federal Home Loan Banks
(1) In general

For purposes of this subchapter, the critical capital level for each Federal Home Loan Bank shall be such amount of capital as the Director shall, by regulation, require.

(2) Consideration of other critical capital levels

In establishing the critical capital level under paragraph (1) for the Federal Home Loan Banks, the Director shall take due consideration of the critical capital level established under subsection (a) for the enterprises, with such modifications as the Director determines to be appropriate to reflect the difference in operations between the banks and the enterprises.

12 U.S.C. § 4613

Pub. L. 102-550, title XIII, §13631363,, 106 Stat. 3976; Pub. L. 110-289, div. A, title I, §1141(a), July 30, 2008, 122 Stat. 2730.

EDITORIAL NOTES

AMENDMENTS2008- Pub. L. 110-289 designated existing provisions as subsec. (a), inserted heading, and added subsec. (b).

STATUTORY NOTES AND RELATED SUBSIDIARIES

REGULATIONS Pub. L. 110-289, div. A, title I, §1141(b), July 30, 2008, 122 Stat. 2730, provided that: "Not later than the expiration of the 180-day period beginning on the date of enactment of this Act [July 30, 2008], the Director of the Federal Housing Finance Agency shall issue regulations pursuant to section 1363(b) of the Federal Housing Enterprises Financial Safety and Soundness Act of 1992 [ 12 U.S.C. 4613(b) ] (as added by this section) establishing the critical capital level under such section."

Agency
The term "Agency" means the Federal Housing Finance Agency established under section 4511 of this title.
Director
The term "Director" means the Director of the Federal Housing Finance Agency.
credit
The term "credit" means the right granted by a person to a consumer to defer payment of a debt, incur debt and defer its payment, or purchase property or services and defer payment for such purchase.
enterprise
The term "enterprise" means-(A) the Federal National Mortgage Association and any affiliate thereof; and(B) the Federal Home Loan Mortgage Corporation and any affiliate thereof.