FEDERAL · 12 U.S.C. · Chapter SUBCHAPTER VIII—AGRICULTURAL MORTGAGE SECONDARY MARKET
§2279bb–3. Critical capital level
12 U.S.C. § §2279bb–3. Critical capital level
This text of 12 U.S.C. § §2279bb–3. Critical capital level (§2279bb–3. Critical capital level) is published on Counsel Stack Legal Research, covering United States primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
12 U.S.C. § §2279bb–3. Critical capital level.
Text
For purposes of this part, the critical capital level for the Corporation shall be an amount of core capital equal to 50 percent of the total minimum capital amount determined under section 2279bb–2 of this title.
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Related
§ 2279b
12 U.S.C. § 2279b
Source Credit
History
(Pub. L. 92–181, title VIII, §8.34, as added Pub. L. 102–237, title V, §503(b)(2), Dec. 13, 1991, 105 Stat. 1874; amended Pub. L. 104–105, title I, §115, Feb. 10, 1996, 110 Stat. 167.)
Editorial Notes
Editorial Notes
Amendments
1996—Pub. L. 104–105 amended section generally. Prior to amendment, section read as follows: "For purposes of this part, the critical capital level for the Corporation shall be an amount of core capital equal to the sum of—
"(1) 1.25 percent of the aggregate on-balance sheet assets of the Corporation (other than assets referred to in paragraph (3)), as determined in accordance with generally accepted accounting principles;
"(2) 0.25 percent of the unpaid principal balance of outstanding securities guaranteed by the Corporation and backed by pools of qualified loans and substantially equivalent instruments issued or guaranteed by the Corporation, and other off-balance sheet obligations of the Corporation; and
"(3) a percentage of any aggregate assets of the Corporation acquired pursuant to the linked portfolio option under section 2279aa–6(g) of this title, which shall be—
"(A) during the 5-year period beginning on December 13, 1991, one-half of the percentage that is determined under section 2279bb–2(c)(1) of this title; and
"(B) after the expiration of such 5-year period, 1.25 percent of any such aggregate assets."
Amendments
1996—Pub. L. 104–105 amended section generally. Prior to amendment, section read as follows: "For purposes of this part, the critical capital level for the Corporation shall be an amount of core capital equal to the sum of—
"(1) 1.25 percent of the aggregate on-balance sheet assets of the Corporation (other than assets referred to in paragraph (3)), as determined in accordance with generally accepted accounting principles;
"(2) 0.25 percent of the unpaid principal balance of outstanding securities guaranteed by the Corporation and backed by pools of qualified loans and substantially equivalent instruments issued or guaranteed by the Corporation, and other off-balance sheet obligations of the Corporation; and
"(3) a percentage of any aggregate assets of the Corporation acquired pursuant to the linked portfolio option under section 2279aa–6(g) of this title, which shall be—
"(A) during the 5-year period beginning on December 13, 1991, one-half of the percentage that is determined under section 2279bb–2(c)(1) of this title; and
"(B) after the expiration of such 5-year period, 1.25 percent of any such aggregate assets."
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12 U.S.C. § §2279bb–3. Critical capital level, Counsel Stack Legal Research, https://law.counselstack.com/usc/12/§2279bb–3. Critical capital level.