§ 4613. Critical capital levels

Legislative history

Reconstructed from this section’s Code source credit and amendment notes, resolved against the local Statutes at Large. Editorial notes are evidence, not the law that made the change.

1. 1992

   Federal Housing Enterprises Financial Safety and Soundness Act of 1992

   Pub. L. 102–550 title XIII § 1363 · 106 Stat. 3672

   Enacted · 12 U.S.C. § 4613

   Pub. L. 102–550, title XIII, § 1363, Oct. 28, 1992, 106 Stat. 3976

   Source evidence

   Code source credit
   Pub. L. 102–550, title XIII, § 1363, Oct. 28, 1992, 106 Stat. 3976

   Enacted provision · exact public law section
   SEC. 1363. CRITICAL CAPITAL LEVELS. For purposes of this subtitle, 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).

2. 2008

   Federal Housing Finance Regulatory Reform Act of 2008

   Pub. L. 110–289 div. A title I § 1141(a) · 122 Stat. 2654

   1. Amended · 12 U.S.C. § 4613

      Pub. L. 110–289 designated existing provisions as subsec. (a)

   2. Inserted · 12 U.S.C. § 4613

      Pub. L. 110–289 inserted heading

   3. Added · 12 U.S.C. § 4613

      Pub. L. 110–289 added subsec. (b)

   Source evidence

   Code amendment note
   Pub. L. 110–289 designated existing provisions as subsec. (a), inserted heading, and added subsec. (b).

   Enacted provision · exact public law section
   (a) In General.— Section 1363 of the Federal Housing Enterprises Financial Safety and Soundness Act of 1992 (12 U.S.C. 4613) is amended— (1) by striking “For” and inserting “(a) Enterprises.—For”; and (2) by adding at the end the following new subsection: “(b) Federal Home Loan Banks.— “(1) In general.— For Regulations. purposes of this subtitle, 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.” .

4 of 4 references resolved to an enrolled provision