12-U.S.C.-2277A-10A
§2277A-10A – §2277A-10A. Oversight Actions By Corporation
Pathway
Title 12 > Chapter 23 > Subchapter V > Part E > Section 2277a-10a
Details
- Reference: Section 2277a-10a
- Legend: §2277A-10A – §2277A-10A. Oversight Actions By Corporation
- USCode Year: 2013
Provision Content
(a) Institution defined
In this section, the term institution means—
(1) an insured System bank; and
(2) a production credit association or other association making loans under section 2279b of this title with a direct loan payable to the funding bank of the association that comprises 20 percent or more of the funding banks total loan volume net of nonaccrual loans.
(b) Consultation regarding participation of undercapitalized banks in issuance of insured obligations
The Farm Credit Administration shall consult with the Corporation prior to approving an insured obligation that is to be issued by or on behalf of, or participated in by, any insured System bank that fails to meet the minimum level for any capital requirement established by the Farm Credit Administration for the bank.
(c) Consultation regarding applications for mergers and restructurings
(1) Corporation to receive copy of transaction applications
On receiving an application for a merger or restructuring of an institution, the Farm Credit Administration shall forward a copy of the application to the Corporation.
(2) Consultation required
If the proposed merger or restructuring involves an institution that fails to meet the minimum level for any capital requirement established by the Farm Credit Administration applicable to the institution, the Farm Credit Administration shall allow 30 days within which the Corporation may submit the views and recommendations of the Corporation, including any conditions for approval. In determining whether to approve or disapprove any proposed merger or restructuring, the Farm Credit Administration shall give due consideration to the views and recommendations of the Corporation.
(Pub. L. 92–181, title V, §5.61A, as added Pub. L. 104–105, title II, §218, Feb. 10, 1996, 110 Stat. 180.)
U.S. Encyclopedia of Law Coverage
12-U.S.C.-2273 in the Legal Encyclopedia: Banking Law
In this entry about 12-U.S.C.-2273, find legal reference material, bibliographies and premiere content related to banking law in the American Encyclopedia of Law, presenting a comprehensive view of the United States banking law-specific issues, written by authorities in the field.
12-U.S.C.-2277A in the Legal Encyclopedia: Farm Credit System
In this entry about 12-U.S.C.-2277A, find legal reference material, bibliographies and premiere content related to farm credit system in the American Encyclopedia of Law, presenting a comprehensive view of the United States farm credit system-specific issues, written by authorities in the field.
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