US CODE COLLECTION
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US CODE COLLECTION
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INSTITUTIONS OF THE SYSTEM
WITHIN A DISTRICT
ASSOCIATIONS
CHARTERS BY THE FARM CREDIT ADMINISTRATION BOARD
MORTGAGE CORPORATION
Establishment.
Duties. 2279aa-2. Board of directors.
Interim board.
Permanent board.
Officers and staff. 2279aa-3. Powers and duties of Corporation and Board.
Guarantees.
(b) Duties of Board.
Powers of Corporation.
Federal Reserve banks as depositaries and fiscal agents.
Access to book-entry system. 2279aa-4. Stock issuance.
Voting common stock.
Required capital contributions.
Dividends.
Nonvoting common stock.
Preferred stock. 2279aa-5. Certification of agricultural mortgage marketing facilities.
Eligibility standards.
(b) Certification by Corporation.
Maximum time period for certification.
Revocation.
Affiliation of FCS institutions with facility. 2279aa-6. Guarantee of qualified loans.
Guarantee authorized for certified facilities.
Other responsibilities of and limitations on certified facilities.
Additional authority of Board.
Aggregate principal amounts of qualified loans.
Purchase of guaranteed securities. 2279aa-7. Repealed. 2279aa-8. Standards for qualified loans.
Standards.
Minimum criteria.
Loan amount limitation.
Congressional review.
Nondiscrimination requirement. 2279aa-9. Exemption from restructuring and borrowers rights provisions for pooled loans.
Restructuring.
Borrowers rights. 2279aa-10. Funding for guarantee; reserves of Corporation.
Guarantee.
Guarantee fees.
Corporation reserve against guarantees losses required.
Fees to cover administrative costs authorized. 2279aa-11. Supervision, examination, and report of condition.
Regulation.
Examinations and audits.
Annual report of condition.
FCA assessments to cover costs.
''Affiliate'' defined.
Employees and personnel. 2279aa-12. Securities in credit enhanced pools.
Federal laws.
State securities laws.
Authorized investments.
State usury laws superseded. 2279aa-13. Authority to issue obligations to cover guarantee losses of Corporation.
Sale of obligations to Treasury.
Expeditious transaction required.
Limitation on amount of outstanding obligations.
Terms of obligation.
Authorization of appropriations. 2279aa-14. Federal jurisdiction. PART B - REGULATION OF FINANCIAL SAFETY AND SOUNDNESS OF FEDERA
AGRICULTURAL MORTGAGE CORPORATION
Risk-based capital test.
Considerations.
Risk-based capital level.
Specified contents.
Availability of model. 2279bb-2. Minimum capital level.
In general.
Transition period. 2279bb-3. Critical capital level. 2279bb-4. Enforcement levels.
In general.
Discretionary classification.
Quarterly determination.
Notice.
Implementation. 2279bb-5. Mandatory actions applicable to level II.
Capital restoration plan.
Restriction on dividends.
Reclassification from level II to leve
III.
Effective date. 2279bb-6. Supervisory actions applicable to level III.
Mandatory supervisory actions.
Discretionary supervisory actions.
Effective date. 2297bb-7. Recapitalization of Corporation.
Mandatory recapitalization.
Raising core capital.
Limitation on growth of total assets.
Enforcement. PART C - RECEIVERSHIP, CONSERVATORSHIP, AND LIQUIDATION OF FEDERA
AGRICULTURAL MORTGAGE CORPORATION
Voluntary liquidation.
Involuntary liquidation.
Appointment of conservator or receiver.
Judicial review of appointment.
General powers of conservator or receiver.
Borrowings for working capital.
Agreements against interests of conservator or receiver.
(h) Report to Congress.
Termination of authorities
CHAPTER REFERRED TO IN OTHER SECTIONS
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