12 U.S.C. § 2279bb–2 — Minimum capital level

(a) Unless (b) applies, the Corporation’s minimum capital level is core capital^* equal to (1) 2.75 percent of aggregate on-balance-sheet assets under generally accepted accounting principles, plus (2) 0.75 percent of aggregate off-balance-sheet obligations, including (A) unpaid principal on outstanding Corporation^*-guaranteed securities backed by qualified-loan pools, (B) substantially equivalent Corporation-issued or guaranteed instruments, and (C) other off-balance-sheet obligations. (b)(1) Before January 1, 1997, the level was core capital equal to 0.45 percent of off-balance-sheet obligations, plus 0.45 percent of designated on-balance-sheet assets, plus 2.50 percent of other on-balance-sheet assets. During the year ending December 31, 1997, it was 0.55 percent, 1.20 percent, and 2.55 percent, respectively. During the year ending December 31, 1998, if core capital was at least $25,000,000 on January 1, 1998, it was 0.65 percent of off-balance-sheet obligations plus 1.95 percent of designated assets plus 2.65 percent of other assets; if less, it was the level in (a). On and after January 1, 1999, it is the level in (a). (2) Designated assets are aggregate on-balance-sheet assets acquired under section 2279aa–6(d) and the aggregate qualified loans purchased and held under section 2279aa–3(c)(13).