§2279bb — Title 12 Banks and Banking | U.S. Code

Summary

Gives plain meanings for a few words used in this part. Compensation is any money or other thing of value paid because of employment. Core capital, for the Corporation, is the total of four items (counted under generally accepted accounting principles): the par value of outstanding common and preferred stock, paid‑in capital, and retained earnings. Director is the head of the Office of Secondary Market Oversight at the Farm Credit Administration. Office is the Office of Secondary Market Oversight of the Farm Credit Administration. Regulatory capital is core capital plus an allowance for losses and guarantee claims (measured under GAAP). State includes the 50 states, the District of Columbia, Puerto Rico, the Northern Mariana Islands, Guam, the Virgin Islands, American Samoa, the Trust Territory of the Pacific Islands, and any other U.S. territory or possession.

Title 12, §2279bb

Banks and Banking — Source: USLM XML via OLRC

For purposes of this part:

(1)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)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)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)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)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)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.

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.

§2279bb Definitions

Summary

Title 12, §2279bb

Notes & Related Subsidiaries

Executive Documents

Citations & Metadata