Definitions

12 U.S.C. § 2279bb

• Title: 12 — Banks and Banking
• Chapter: 23 — FARM CREDIT SYSTEM
• Subchapter: VIII
• Part: B
• Current through: Pub. L. 119-99

Text

For purposes of this part:
(1) Compensation
The term "compensation" means any payment of money or the provision of any other thing of current or potential value in connection with employment.
(2) Core capital
The term "core capital" means, with respect to the Corporation, the sum of the following (as determined in accordance with generally accepted accounting principles):
(A) The par value of outstanding common stock.
(B) The par value of outstanding preferred stock.
(C) Paid-in capital.
(D) Retained earnings.
(3) Director
The term "Director" means the Director of the Office of Secondary Market Oversight of the Farm Credit Administration, selected under section 2279aa–11(a)(3) of this title.
(4) Office
The term "Office" means the Office of Secondary Market Oversight of the Farm Credit Administration, established in section 2279aa–11(a) of this title.
(5) Regulatory capital
The term "regulatory capital" means, with respect to the Corporation, the core capital of the Corporation plus an allowance for losses and guarantee claims, as determined in accordance with generally accepted accounting principles.
(6) State
The term "State" means the States of the United States, the District of Columbia, the Commonwealth of Puerto Rico, the Commonwealth of the Northern Mariana Islands, Guam, the Virgin Islands, American Samoa, the Trust Territory of the Pacific Islands, and any other territory or possession of the United States.

History

(Pub. L. 92–181, title VIII, §8.31, as added Pub. L. 102–237, title V, §503(b)(2), Dec. 13, 1991, 105 Stat. 1871.)

Editorial Notes

Executive Documents

Termination of Trust Territory of the Pacific Islands
For termination of Trust Territory of the Pacific Islands, see note set out preceding section 1681 of Title 48, Territories and Insular Possessions.