
From the U.S. Code Online via GPO Access
[wais.access.gpo.gov]
[Laws in effect as of January 2, 2001]
[Document not affected by Public Laws enacted between
  January 2, 2001 and January 28, 2002]
[CITE: 12USC2279bb-3]

 
                       TITLE 12--BANKS AND BANKING
 
                     CHAPTER 23--FARM CREDIT SYSTEM
 
         SUBCHAPTER VIII--AGRICULTURAL MORTGAGE SECONDARY MARKET
 
    Part B--Regulation of Financial Safety and Soundness of Federal 
                    Agricultural Mortgage Corporation
 
Sec. 2279bb-3. Critical capital level

    For purposes of this part, the critical capital level for the 
Corporation shall be an amount of core capital equal to 50 percent of 
the total minimum capital amount determined under section 2279bb-2 of 
this title.

(Pub. L. 92-181, title VIII, Sec. 8.34, as added Pub. L. 102-237, title 
V, Sec. 503(b)(2), Dec. 13, 1991, 105 Stat. 1874; amended Pub. L. 104-
105, title I, Sec. 115, Feb. 10, 1996, 110 Stat. 167.)


                               Amendments

    1996--Pub. L. 104-105 amended section generally. Prior to amendment, 
section read as follows: ``For purposes of this part, the critical 
capital level for the Corporation shall be an amount of core capital 
equal to the sum of--
        ``(1) 1.25 percent of the aggregate on-balance sheet assets of 
    the Corporation (other than assets referred to in paragraph (3)), as 
    determined in accordance with generally accepted accounting 
    principles;
        ``(2) 0.25 percent of the unpaid principal balance of 
    outstanding securities guaranteed by the Corporation and backed by 
    pools of qualified loans and substantially equivalent instruments 
    issued or guaranteed by the Corporation, and other off-balance sheet 
    obligations of the Corporation; and
        ``(3) a percentage of any aggregate assets of the Corporation 
    acquired pursuant to the linked portfolio option under section 
    2279aa-6(g) of this title, which shall be--
            ``(A) during the 5-year period beginning on December 13, 
        1991, one-half of the percentage that is determined under 
        section 2279bb-2(c)(1) of this title; and
            ``(B) after the expiration of such 5-year period, 1.25 
        percent of any such aggregate assets.''

                  Section Referred to in Other Sections

    This section is referred to in section 2279bb-4 of this title.
