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12 U.S.C. § 1423 — Federal Home Loan Bank districts; number and boundaries; establishment of Federal Home Loan Banks; names

Federal law — U.S. Code and appendices · legal_authorities

12 U.S.C. § 1423 — Federal Home Loan Bank districts; number and boundaries; establishment of Federal Home Loan Banks; names

**(a) In general** As soon as practicable the Director shall divide the continental United States, Puerto Rico, the Virgin Islands, Guam, and the Territories of Alaska and Hawaii into not less than eight nor more than twelve districts. Such districts shall be apportioned with due regard to the convenience and customary course of business of the institutions eligible to and likely to subscribe for stock of a Federal Home Loan Bank to be formed under this chapter, but no such district shall contain a fractional part of any State. The districts thus created may be readjusted and new districts may from time to time be created by the Director, not to exceed twelve in all. Such districts shall be known as Federal Home Loan Bank districts and may be designated by number. As soon as practicable the Director shall establish, in each district, a Federal Home Loan Bank at such city as may be designated by the Director. Its title shall include the name of the city at which it is established. **(b) Authority to reduce districts** Notwithstanding subsection (a), the number of districts may be reduced to a number less than 8— (1) pursuant to a voluntary merger between Banks, as approved pursuant to [section 1446(b) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1446/b&num=0&edition=prelim); or (2) pursuant to a decision by the Director to liquidate a Bank pursuant to [section 4617 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section4617&num=0&edition=prelim).

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Stable record: federal_law:legal_authorities:record_usc_1d60bac84012365591bdec76
Source file: Laws/federal/codes/united-states-code/title-12/section-1423-federal-home-loan-bank-districts-number-and-boundaries-establishment-of--454338bd87.md
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Source location: Title 12, Chapter 11, § 1423; chapter-011-federal-home-loan-banks.md

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Federal law — U.S. Code and appendices · legal_authorities

12 U.S.C. § 4617 — Capital classifications

**(a) Enterprises** For purposes of this subchapter, the Director shall classify the enterprises according to the following capital classifications: (1) **Adequately capitalized** — An enterprise shall be classified as adequately capitalized if the enterprise— (A) maintains an amount of total capital that is equal to or exceeds the risk-based capital level established for the enterprise under [section 4611 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section4611&num=0&edition=prelim); and (B) maintains an amount of core capital that is equal to or exceeds the minimum capital level established for the enterprise under [section 4612 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section4612&num=0&edition=prelim). (2) **Undercapitalized** — An enterprise shall be classified as undercapitalized if— (A) the enterprise— (i) does not maintain an amount of total capital that is equal to or exceeds the risk-based capital level established for the enterprise; and (ii) maintains an amount of core capital that is equal to or exceeds the minimum capital level established for the enterprise; or (B) the enterprise is otherwise classified as undercapitalized under subsection (b)(1) of this section. (3) **Significantly undercapitalized** — An enterprise shall be classified as significantly undercapitalized if— (A) the enterprise— (i) does not maintain an amount of total capital that is equal to or exceeds the risk-based capital level established for the enterprise; (ii) does not maintain an amount of core capital that is equal to or exceeds the minimum capital level established for the enterprise; and (iii) maintains an amount of core capital that is equal to or exceeds

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Federal law — U.S. Code and appendices · legal_authorities

12 U.S.C. § 1423 — Federal Home Loan Bank districts; num-

Page 282 TITLE 12—BANKS AND BANKING §§ 1422a, 1422b and (13) as (9) and (10), respectively, and struck out former par. (11). Prior to amendment, text read as fol- lows: ‘‘The term ‘Secretary’ means the Secretary of Housing and Urban Development.’’ 1999—Par. (1). Pub. L. 106–102, § 602(1), substituted ‘‘terms ‘Finance Board’ and ‘Board’ mean’’ for ‘‘term ‘Board’ means’’. Par. (3). Pub. L. 106–102, § 602(2), added par. (3) and struck out former par. (3) which read as follows: ‘‘The term ‘State’ includes the District of Columbia, Guam, Puerto Rico, and the Virgin Islands of the United States.’’ Par. (13). Pub. L. 106–102, § 602(3), added par. (13). 1989—Pars. (1), (2). Pub. L. 101–73, § 701(a)(1), added pars. (1) and (2) and struck out former pars. (1) and (2) which defined ‘‘board’’ and ‘‘Federal Home Loan Bank’’. Par. (4). Pub. L. 101–73, § 701(a)(2), which directed amendment of par. (4) by striking out ‘‘(except when used in reference to the member of the Board)’’ after ‘‘ ‘member’ ’’, was executed by striking out ‘‘(except when used in reference to a member of the board)’’ as the probable intent of Congress. Par. (5). Pub. L. 101–73, § 710(b)(1), struck out ‘‘or a nonmember borrower’’ after ‘‘member’’. Pars. (9) to (12). Pub. L. 101–73, § 701(a)(3), added pars. (9) to (12) and struck out former par. (9) which read as follows: ‘‘The term ‘nonmember borrower’ includes an institution authorized to secure advances from a Fed- eral Home Loan Bank under the provisions of sub- section (e) of section 1426 of this title.’’ 1962—Subsec. (6). Pub. L. 87–779 substituted ‘‘upon which is located, or which comprises or includes, one or more homes or other dwelling units, all of which may be defined by the Board’’ for ‘‘upon which there is lo- cated a dwel

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