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12 U.S.C. § 1422 — Definitions
Federal law — U.S. Code and appendices · legal_authorities
As used in this chapter—
(1)
(A) *Bank.—* — The term “Federal Home Loan Bank” or “Bank” means a bank established under the authority of this chapter.
(B) *Bank system.—* — The term “Federal Home Loan Bank System” means the Federal Home Loan Banks under the supervision of the Director.
(2) **State.—** — The term “State”, in addition to the States of the United States, includes the District of Columbia, Guam, Puerto Rico, the United States Virgin Islands, American Samoa, and the Commonwealth of the Northern Mariana Islands.
(3) The term “member” means any institution which has subscribed for the stock of a Federal Home Loan Bank.
(4) The term “home mortgage loan” means a loan made by a member upon the security of a home mortgage.
(5) The term “home mortgage” means a mortgage upon real estate, in fee simple, or on a leasehold (1) under a lease for not less than ninety-nine years which is renewable or (2) under a lease having a period of not less than fifty years to run from the date the mortgage was executed, 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 Director and shall include, in addition to first mortgages, such classes of first liens as are commonly given to secure advances on real estate by institutions authorized under this chapter to become members, under the laws of the State in which the real estate is located, together with the credit instruments, if any, secured thereby.
(6) The term “unpaid principal,” when used in respect of a loan secured by a home mortgage means the principal thereof less the sum of (1) payments made on such principal, and (2) in cases where shares or stock are pledged as security for the loan, the payments made on such shares or stock plus
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Source location: Title 12, Chapter 11, § 1422; chapter-011-federal-home-loan-banks.md
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As used in this chapter—
(1)
(A) *Bank.—* — The term “Federal Home Loan Bank” or “Bank” means a bank established under the authority of this chapter.
(B) *Bank system.—* — The term “Federal Home Loan Bank System” means the Federal Home Loan Banks under the supervision of the Director.
(2) **State.—** — The term “State”, in addition to the States of the United States, includes the District of Columbia, Guam, Puerto Rico, the United States Virgin Islands, American Samoa, and the Commonwealth of the Northern Mariana Islands.
(3) The term “member” means any institution which has subscribed for the stock of a Federal Home Loan Bank.
(4) The term “home mortgage loan” means a loan made by a member upon the security of a home mortgage.
(5) The term “home mortgage” means a mortgage upon real estate, in fee simple, or on a leasehold (1) under a lease for not less than ninety-nine years which is renewable or (2) under a lease having a period of not less than fifty years to run from the date the mortgage was executed, 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 Director and shall include, in addition to first mortgages, such classes of first liens as are commonly given to secure advances on real estate by institutions authorized under this chapter to become members, under the laws of the State in which the real estate is located, together with the credit instruments, if any, secured thereby.
(6) The term “unpaid principal,” when used in respect of a loan secured by a home mortgage means the principal thereof less the sum of (1) payments made on such principal, and (2) in cases where shares or stock are pledged as security for the loan, the payments made on such shares or stock plus earnings or dividends apportioned or credited thereon.
(7) An “amortized” or “installment” home mortgage loan shall, for the purposes of this chapter, be a home mortgage loan to be repaid or liquidated in not less than eight years by means of regular weekly, monthly, or quarterly payments made directly in reduction of the debt or upon stock or shares pledged as collateral for the repayment of such loan.
(8) **Savings association.—** — The term “savings association” has the meaning given to such term in section 3 of the Federal Deposit Insurance Act [[12 U.S.C. 1813](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1813&num=0&edition=prelim)].
(9) **Insured depository institution.—** — The term “insured depository institution” means—
(A) an insured depository institution (as defined in section 3 of the Federal Deposit Insurance Act [[12 U.S.C. 1813](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1813&num=0&edition=prelim)]), and
(B) except as used in sections 1441a 11 See References in Text note below. and 1441b of this title, an insured credit union (as defined in [section 1752 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1752&num=0&edition=prelim)).
(10) **Community financial institution.—**
(A) *In general.—* — The term “community financial institution” means a member—
(i) the deposits of which are insured under the Federal Deposit Insurance Act [[12 U.S.C. 1811](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1811&num=0&edition=prelim) et seq.]; and
(ii) that has, as of the date of the transaction at issue, less than $1,000,000,000 in average total assets, based on an average of total assets over the 3 years preceding that date.
(B) *Adjustments.—* — The $1,000,000,000 limit referred to in subparagraph (A)(ii) shall be adjusted annually by the Director, based on the annual percentage increase, if any, in the Consumer Price Index for all urban consumers, as published by the Department of Labor.
(11) **Director.—** — The term “Director” means the Director of the Federal Housing Finance Agency.
(12) **Agency.—** — The term “Agency” means the Federal Housing Finance Agency, established under [section 4511 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section4511&num=0&edition=prelim).
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Regulations**
(1) **Capital standards** — Not later than 18 months after November 12, 1999, the Director shall issue regulations prescribing uniform capital standards applicable to each Federal home loan bank, which shall require each such bank to meet—
(A) the leverage requirement specified in paragraph (2); and
(B) the risk-based capital requirements, in accordance with paragraph (3).
(2) **Leverage requirement**
(A) *In general* — The leverage requirement shall require each Federal home loan bank to maintain a minimum amount of total capital based on the total assets of the bank and shall be 5 percent.
(B) *Treatment of stock and retained earnings* — In determining compliance with the minimum leverage ratio established under subparagraph (A), the paid-in value of the outstanding Class B stock and the amount of retained earnings shall be multiplied by 1.5, and such higher amounts shall be deemed to be capital for purposes of meeting the 5 percent minimum leverage ratio, except that a Federal home loan bank’s total capital (determined without taking into account any such multiplier) shall not be less than 4 percent of the total assets of the bank.
(3) **Risk-based capital standards**
(A) *Risk-based capital standards* — The Director shall, by regulation, establish risk-based capital standards for the Federal Home Loan Banks to ensure that the Federal Home Loan Banks operate in a safe and sound manner, with sufficient permanent capital and reserves to support the risks that arise in the operations and management of the Federal Home Loans Banks.
(B) *Consideration of other risk-based standards* — In establishing the risk-based standard under subparagraph (A), the Director shall take due consideration of any risk-based capital test established p
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 1426
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Federal law — U.S. Code and appendices · legal_authorities
The Congress finds that—
(1) the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation (referred to in this section collectively as the “enterprises”), and the Federal Home Loan Banks (referred to in this section as the “Banks”), have important public missions that are reflected in the statutes and charter Acts establishing the Banks and the enterprises;
(2) because the continued ability of the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation to accomplish their public missions is important to providing housing in the United States and the health of the Nation’s economy, more effective Federal regulation is needed to reduce the risk of failure of the enterprises;
(3) considering the current operating procedures of the Federal National Mortgage Association, the Federal Home Loan Mortgage Corporation, and the Federal Home Loan Banks, the enterprises and the Banks currently pose low financial risk of insolvency;
(4) neither the enterprises nor the Banks, nor any securities or obligations issued by the enterprises or the Banks, are backed by the full faith and credit of the United States;
(5) an entity regulating the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation should have sufficient autonomy from the enterprises and special interest groups;
(6) an entity regulating such enterprises should have the authority to establish capital standards, require financial disclosure, prescribe adequate standards for books and records and other internal controls, conduct examinations when necessary, and enforce compliance with the standards and rules that it establishes;
(7) the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation have an affirma
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 4511
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Federal law — U.S. Code and appendices · legal_authorities
### Statutory Notes
Section, act July 22, 1932, ch. 522, § 21A, as added Pub. L. 101–73, title V, § 501(a), Aug. 9, 1989, 103 Stat. 363; amended Pub. L. 101–625, title VIII, § 804(d), title IX, § 914(c), Nov. 28, 1990, 104 Stat. 4323, 4395; Pub. L. 101–647, title XXV, §§ 2526(c), 2540, Nov. 29, 1990, 104 Stat. 4876, 4885; Pub. L. 102–18, title I, §§ 101, 102(a), 103(a), 104, 105, title II, §§ 201, 202, title III, § 301, title IV, § 401, Mar. 23, 1991, 105 Stat. 58, 60–63, 65; Pub. L. 102–139, title V, § 523(a), Oct. 28, 1991, 105 Stat. 781; Pub. L. 102–233, title I, §§ 101, 103, 105, 106(a)–(e)(1), title II, § 201, title III, §§ 302(b), (c), 303–312, 314, 316, title IV, §§ 401, 402(a), 403–405, title V, § 501, title VI, §§ 601–611, 613–617, Dec. 12, 1991, 105 Stat. 1761–1765, 1767–1770, 1772–1774, 1776–1789; Pub. L. 102–242, title I, § 141(a)(3), title II, § 251(c)(1), title IV, § 471, Dec. 19, 1991, 105 Stat. 2276, 2333, 2385; Pub. L. 102–378, § 5(e), Oct. 2, 1992, 106 Stat. 1358; Pub. L. 102–550, title V, §§ 503(c)(3), 509(i), title XVI, §§ 1611(a), (d)(1)–(3), 1612, 1613(a)(1)–(6), (8), (b)–(h), 1614(a)(1)–(5), (7), (b), 1615(a)(2), 1616, Oct. 28, 1992, 106 Stat. 3780, 3783, 4090–4096; Pub. L. 103–204, §§ 2–3(b), 4(a), 5(a), (b)(2), 7, 12, 14(a)(1), (c)(2), (d)(1), (e)(1), (f)(1), 15(a), 16(a), 17(a), 21(b), 24, 27(a), 29–31, 36, Dec. 17, 1993, 107 Stat. 2370–2380, 2382, 2383, 2390, 2391, 2395–2400, 2406, 2408, 2410–2413, 2415; Pub. L. 103–211, title IV, § 406, Feb. 12, 1994, 108 Stat. 41; Pub. L. 103–325, title VI, § 602(b), Sept. 23, 1994, 108 Stat. 2291; Pub. L. 103–328, title II, § 201(b), Sept. 29, 1994, 108 Stat. 2368; Pub. L. 104–66, title II, § 2231, Dec. 21, 1995, 109 Stat. 733; Pub. L. 104–208, div. A, title II, § 2704(d)(11)(B)–(D), Sept. 30, 1996, 110 St
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 1441a
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Establishment of Corporation** There is hereby established a Federal Deposit Insurance Corporation (hereinafter referred to as the “Corporation”) which shall insure, as hereinafter provided, the deposits of all banks and savings associations which are entitled to the benefits of insurance under this chapter, and which shall have the powers hereinafter granted.
**(b) Asset disposition division**
(1) **Establishment** — The Corporation shall have a separate division of asset disposition.
(2) **Management** — The division of asset disposition shall have an administrator who shall be appointed by the Board of Directors.
(3) **Responsibilities of division** — The division of asset disposition shall carry out all of the responsibilities of the Corporation under this chapter relating to the liquidation of insured depository institutions and the disposition of assets of such institutions.
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 1811
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Federal law — U.S. Code and appendices · legal_authorities
As used in this chapter—
**(a) Definitions of bank and related terms**
(1) **Bank** — The term “bank”—
(A) means any national bank and State bank, and any Federal branch and insured branch;
(B) includes any former savings association.
(2) **State bank** — The term “State bank” means any bank, banking association, trust company, savings bank, industrial bank (or similar depository institution which the Board of Directors finds to be operating substantially in the same manner as an industrial bank), or other banking institution which—
(A) is engaged in the business of receiving deposits, other than trust funds (as defined in this section); and
(B) is incorporated under the laws of any State or which is operating under the Code of Law for the District of Columbia,
including any cooperative bank or other unincorporated bank the deposits of which were insured by the Corporation on the day before August 9, 1989.
(3) **State** — The term “State” means any State of the United States, the District of Columbia, any territory of the United States, Puerto Rico, Guam, American Samoa, the Trust Territory of the Pacific Islands, the Virgin Islands, and the Northern Mariana Islands.
**(b) Definition of savings associations and related terms**
(1) **Savings association** — The term “savings association” means—
(A) any Federal savings association;
(B) any State savings association; and
(C) any corporation (other than a bank) that the Board of Directors and the Comptroller of the Currency jointly determine to be operating in substantially the same manner as a savings association.
(2) **Federal savings association** — The term “Federal savings association” means any Federal savings association or Federal savings bank which is chartered under [section 1464 of t
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 1813
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Federal law — U.S. Code and appendices · legal_authorities
This chapter may be cited as the “Federal Credit Union Act”.
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 1752
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Criteria for eligibility**
(1) **In general** — Any building and loan association, savings and loan association, cooperative bank, homestead association, insurance company, savings bank, community development financial institution, or any insured depository institution (as defined in [section 1422 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1422&num=0&edition=prelim)), shall be eligible to become a member of a Federal Home Loan Bank if such institution—
(A) is duly organized under the laws of any State or of the United States;
(B) is subject to inspection and regulation under the banking laws, or under similar laws, of the State or of the United States or, in the case of a community development financial institution, is certified as a community development financial institution under the Community Development Banking and Financial Institutions Act of 1994 [[12 U.S.C. 4701](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section4701&num=0&edition=prelim) et seq.].; 11 So in original. and
(C) makes such home mortgage loans as, in the judgment of the Director, are long-term loans (except that in the case of a savings bank, this subparagraph applies only if, in the judgment of the Director, its time deposits, as defined in [section 461 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section461&num=0&edition=prelim), warrant its making such loans).
(2) **Qualified thrift lender** — An insured depository institution that is not a member on January 1, 1989, may become a member of a Federal Home Loan Bank only if—
(A) the insured depository institution (other than a community financial institution) has at least 10 percent of its total assets in residential
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 1424
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Federal law — U.S. Code and appendices · legal_authorities
**(a) In general** The Federal Home Loan Banks shall be exempt from compliance with—
(1) sections 78m(e), 78n(a), and 78n(c) of title 15, and related Commission regulations;
(2) section 78o of title 15, and related Commission regulations, with respect to transactions in the capital stock of a Federal Home Loan Bank;
(3) [section 78q–1 of title 15](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section78q–1&num=0&edition=prelim), and related Commission regulations, with respect to the transfer of the securities of a Federal Home Loan Bank; and
(4) the Trust Indenture Act of 1939 [[15 U.S.C. 77aaa](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section77aaa&num=0&edition=prelim) et seq.].
**(b) Member exemption** The members of the Federal Home Loan Bank System shall be exempt from compliance with sections 78m(d), 78m(f), 78m(g), 78n(d), and 78p of title 15, and related Commission regulations, with respect to ownership of or transactions in the capital stock of the Federal Home Loan Banks by such members.
**(c) Exempted and Government securities**
(1) **Capital stock** — The capital stock issued by each of the Federal Home Loan Banks under [section 1426 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1426&num=0&edition=prelim) are—
(A) exempted securities, within the meaning of [section 77c(a)(2) of title 15](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section77c/a/2&num=0&edition=prelim); and
(B) exempted securities, within the meaning of [section 78c(a)(12)(A) of title 15](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section78c/a/12/A&num=0&edition=prelim), except to the extent provided in section 78oo of title 15.
(2) **O
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 1426a
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Applicability to loan, mortgage, credit sale, or advance; applicability to deposit, account, or obligation**
(1) The provisions of the constitution or the laws of any State expressly limiting the rate or amount of interest, discount points, finance charges, or other charges which may be charged, taken, received, or reserved shall not apply to any loan, mortgage, credit sale, or advance which is—
(A) secured by a first lien on residential real property, by a first lien on all stock allocated to a dwelling unit in a residential cooperative housing corporation, or by a first lien on a residential manufactured home;
(B) made after March 31, 1980; and
(C) described in section 527(b) of the National Housing Act ([12 U.S.C. 1735f–5(b)](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1735f–5/b&num=0&edition=prelim)), except that for the purpose of this section—
(i) the limitation described in section 527(b)(1) of such Act that the property must be designed principally for the occupancy of from one to four families shall not apply;
(ii) the requirement contained in section 527(b)(1) of such Act that the loan be secured by residential real property shall not apply to a loan secured by stock in a residential cooperative housing corporation or to a loan or credit sale secured by a first lien on a residential manufactured home;
(iii) the term “federally related mortgage loan” in section 527(b) of such Act shall include a credit sale which is secured by a first lien on a residential manufactured home and which otherwise meets the definitional requirements of section 527(b) of such Act, as those requirements are modified by this section;
(iv) the term “residential loans” in section 527(b)(2)(D) of such Act shall also incl
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 1749bbb to 1749bbb–2
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Federal law — U.S. Code and appendices · legal_authorities
The Board of Governors of the Federal Reserve System shall be authorized and empowered:
**(a) Examination of accounts and affairs of banks; publication of weekly statements; reports of liabilities and assets of depository institutions; covered institutions**
(1) To examine at its discretion the accounts, books, and affairs of each Federal reserve bank and of each member bank and to require such statements and reports as it may deem necessary. The said board shall publish once each week a statement showing the condition of each Federal reserve bank and a consolidated statement for all Federal reserve banks. Such statements shall show in detail the assets and liabilities of the Federal reserve banks, single and combined, and shall furnish full information regarding the character of the money held as reserve and the amount, nature, and maturities of the paper and other investments owned or held by Federal reserve banks.
(2) To require any depository institution specified in this paragraph to make, at such intervals as the Board may prescribe, such reports of its liabilities and assets as the Board may determine to be necessary or desirable to enable the Board to discharge its responsibility to monitor and control monetary and credit aggregates. Such reports shall be made (A) directly to the Board in the case of member banks and in the case of other depository institutions whose reserve requirements under sections 461, 463, 464, 465, and 466 of this title exceed zero, and (B) for all other reports to the Board through the (i) Federal Deposit Insurance Corporation in the case of insured State savings associations that are insured depository institutions (as defined in [section 1813 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 248
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