Title 12, Banks and BankingRelease 119-110

§4748 Reimbursement to Fund

Title 12 › CHAPTER 47 — COMMUNITY DEVELOPMENT BANKING › SUBCHAPTER II — SMALL BUSINESS CAPITAL ENHANCEMENT › § 4748

Last updated Sep 22, 2026|Official source

Summary

When a participating State pulls money out of a reserve fund under the agreement allowed by section 4745(d) or (r), it must, within 15 calendar days, pay the Fund an amount equal to the withdrawal times a factor. The factor is found by taking the State’s total contributions to reserve funds that must be repaid, dividing that by 2, and then dividing by the State’s total contributions to all reserve funds, including any contributions made before joining if the State kept its own program under section 4743(b). The Fund may use those payments to make reimbursements under section 4747.

Full Legal Text

Title 12, §4748

Banks and Banking, Source: USLM XML via OLRC

(a)In general

If a participating State withdraws funds from a reserve fund pursuant to terms of the participation agreement permitted by subsection (d) or (r) of section 4745 of this title, such participating State shall, not later than 15 calendar days after such withdrawal, submit to the Fund an amount computed by multiplying the amount withdrawn by the appropriate factor, as determined under subsection (b).

(b)Factor (c) Use of reimbursements

The appropriate factor shall be obtained by dividing the total amount of contributions that have been made by the participating State to all reserve funds which were subject to reimbursement—

(1)by 2; and

(2)by the total amount of contributions made by the participating State to all reserve funds, including if applicable, contributions that have been made by the State prior to becoming a participating State if the State continued its own capital access program in accordance with section 4743(b) of this title.

Reference

Citations & Metadata

Citation

12 U.S.C. § 4748

Title 12, Banks and Banking

Last Updated

Sep 22, 2026

Release point: 119-110