Definitions

For purposes of this subsection, the following definitions shall apply:

(A) Actual thrift investment percentage The term “actual thrift investment percentage” means the percentage determined by dividing— (i) the amount of a savings association’s qualified thrift investments, by (ii) the amount of the savings association’s portfolio assets.

(B) Portfolio assets The term “portfolio assets” means, with respect to any savings association, the total assets of the savings association, minus the sum of— (i) goodwill and other intangible assets; (ii) the value of property used by the savings association to conduct its business; and (iii) liquid assets of the type required to be maintained under section 1465 of this title , as in effect on the day before December 27, 2000 , in an amount not exceeding the amount equal to 20 percent of the savings association’s total assets.

(C) Qualified thrift investments (i) In general The term “qualified thrift investments” means, with respect to any savings association, the assets of the savings association that are described in clauses (ii) and (iii). (ii) Assets includible without limit The following assets are described in this clause for purposes of clause (i): (I) The aggregate amount of loans held by the savings association that were made to purchase, refinance, construct, improve, or repair domestic residential housing or manufactured housing. (II) Home-equity loans. (III) Securities backed by or representing an interest in mortgages on domestic residential housing or manufactured housing. (IV) Existing obligations of deposit insurance agencies.— Direct or indirect obligations of the Federal Deposit Insurance Corporation or the Federal Savings and Loan Insurance Corporation issued in accordance with the terms of agreements entered into prior to July 1, 1989 , for the 10-year period beginning on the date of issuance of such obligations. (V) New obligations of deposit insurance agencies.— Obligations of the Federal Deposit Insurance Corporation, the Federal Savings and Loan Insurance Corporation, the FSLIC Resolution Fund, and the Resolution Trust Corporation issued in accordance with the terms of agreements entered into on or after July 1, 1989 , for the 5-year period beginning on the date of issuance of such obligations. (VI) Shares of stock issued by any Federal home loan bank. (VII) Loans for educational purposes, loans to small businesses, and loans made through credit cards or credit card accounts. (iii) Assets includible subject to percentage restriction The following assets are described in this clause for purposes of clause (i): (I) 50 percent of the dollar amount of the residential mortgage loans originated by such savings association and sold within 90 days of origination. (II) Investments in the capital stock or obligations of, and any other security issued by, any service corporation if such service corporation derives at least 80 percent of its annual gross revenues from activities directly related to purchasing, refinancing, constructing, improving, or repairing domestic residential real estate or manufactured housing. (III) 200 percent of the dollar amount of loans and investments made to acquire, develop, and construct 1- to 4-family residences the purchase price of which is or is guaranteed to be not greater than 60 percent of the median value of comparable newly constructed 1- to 4-family residences within the local community in which such real estate is located, except that not more than 25 percent of the amount included under this subclause may consist of commercial properties related to the development if those properties are directly related to providing services to residents of the development. (IV) 200 percent of the dollar amount of loans for the acquisition or improvement of residential real property, churches, schools, and nursing homes located within, and loans for any other purpose to any small businesses located within any area which has been identified by the appropriate Federal banking agency, in connection with any review or examination of community reinvestment practices, as a geographic area or neighborhood in which the credit needs of the low- and moderate-income residents of such area or neighborhood are not being adequately met. (V) Loans for the purchase or construction of churches, schools, nursing homes, and hospitals, other than those qualifying under clause (IV), and loans for the improvement and upkeep of such properties. (VI) Loans for personal, family, or household purposes (other than loans for personal, family, or household purposes described in clause (ii)(VII)). (VII) Shares of stock issued by the Federal Home Loan Mortgage Corporation or the Federal National Mortgage Association. (iv) Percentage restriction applicable to certain assets The aggregate amount of the assets described in clause (iii) which may be taken into account in determining the amount of the qualified thrift investments of any savings association shall not exceed the amount which is equal to 20 percent of a savings association’s portfolio assets. (v) Qualified thrift investments The term “qualified thrift investments” excludes— (I) except for home equity loans, that portion of any loan or investment that is used for any purpose other than those expressly qualifying under any subparagraph of clause (ii) or (iii); or (II) goodwill or any other intangible asset.

(D) Credit card The appropriate Federal banking agency shall issue such regulations as may be necessary to define the term “credit card”.

(E) Small business The appropriate Federal banking agency shall issue such regulations as may be necessary to define the term “small business”.

Definitions

Official source

For purposes of this subsection, the following definitions shall apply:

(D) Credit card The appropriate Federal banking agency shall issue such regulations as may be necessary to define the term “credit card”.

(E) Small business The appropriate Federal banking agency shall issue such regulations as may be necessary to define the term “small business”.

- name: qualified_thrift_investment_percentage_threshold kind: parameter dtype: Rate source: 12 USC 1467a(m) metadata: proof: atoms: - path: versions[0].formula kind: parameter source: corpus_citation_path: us/statute/12/1467a excerpt: qualified thrift investments equal or exceed 65 percent versions: - effective_from: '0001-01-01' formula: '0.65'

- name: qualified_thrift_monthly_average_required_months kind: parameter dtype: Count source: 12 USC 1467a(m) metadata: proof: atoms: - path: versions[0].formula kind: parameter source: corpus_citation_path: us/statute/12/1467a excerpt: on a monthly average basis in 9 out of every 12 months versions: - effective_from: '0001-01-01' formula: '9'

- name: qualified_thrift_lender kind: derived entity: SavingsAssociation dtype: Judgment period: Month source: 12 USC 1467a(m) metadata: proof: atoms: - path: versions[0].formula kind: condition source: corpus_citation_path: us/statute/12/1467a - path: versions[0].formula kind: parameter source: corpus_citation_path: us/statute/12/1467a excerpt: 65 percent - path: versions[0].formula kind: parameter source: corpus_citation_path: us/statute/12/1467a excerpt: 9 out of every 12 months versions: - effective_from: '0001-01-01' formula: |- qualifies_as_domestic_building_and_loan_association or ( qualified_thrift_investments_divided_by_portfolio_assets >= qualified_thrift_investment_percentage_threshold and months_in_prior_twelve_meeting_monthly_average_requirement >= qualified_thrift_monthly_average_required_months )

- name: qualified_stock_issuance_voting_stock_limit kind: parameter dtype: Rate source: 12 USC 1467a(q) metadata: proof: atoms: - path: versions[0].formula kind: parameter source: corpus_citation_path: us/statute/12/1467a excerpt: not more than 15 percent of the outstanding voting stock versions: - effective_from: '0001-01-01' formula: '0.15'

- name: qualified_stock_issuance kind: derived entity: SavingsAndLoanHoldingCompany dtype: Judgment period: Day source: 12 USC 1467a(q) metadata: proof: atoms: - path: versions[0].formula kind: condition source: corpus_citation_path: us/statute/12/1467a - path: versions[0].formula kind: parameter source: corpus_citation_path: us/statute/12/1467a excerpt: not more than 15 percent versions: - effective_from: '0001-01-01' formula: >- issuer_is_undercapitalized_savings_association_or_qualifying_holding_company and shares_are_previously_unissued_or_treasury_shares and all_shares_purchased_by_registered_savings_and_loan_holding_company and board_approved_purchase and entire_consideration_paid_in_cash and acquiring_company_voting_stock_share_after_issuance <= qualified_stock_issuance_voting_stock_limit and not more_than_one_issuer_director_represents_acquiring_company and transactions_with_acquiring_company_subject_to_section_1468

- name: first_tier_report_penalty_daily_cap kind: parameter dtype: Money unit: USD source: 12 USC 1467a(r) metadata: proof: atoms: - path: versions[0].formula kind: amount source: corpus_citation_path: us/statute/12/1467a excerpt: not more than $2,000 for each day versions: - effective_from: '0001-01-01' formula: '2000'

- name: second_tier_report_penalty_daily_cap kind: parameter dtype: Money unit: USD source: 12 USC 1467a(r) metadata: proof: atoms: - path: versions[0].formula kind: amount source: corpus_citation_path: us/statute/12/1467a excerpt: not more than $20,000 for each day versions: - effective_from: '0001-01-01' formula: '20000'

- name: third_tier_report_penalty_fixed_daily_cap kind: parameter dtype: Money unit: USD source: 12 USC 1467a(r) metadata: proof: atoms: - path: versions[0].formula kind: amount source: corpus_citation_path: us/statute/12/1467a excerpt: not more than $1,000,000 or 1 percent of total assets versions: - effective_from: '0001-01-01' formula: '1000000'

- name: third_tier_report_penalty_asset_share_cap kind: parameter dtype: Rate source: 12 USC 1467a(r) metadata: proof: atoms: - path: versions[0].formula kind: parameter source: corpus_citation_path: us/statute/12/1467a excerpt: 1 percent of total assets versions: - effective_from: '0001-01-01' formula: '0.01'

- name: report_penalty_daily_cap kind: derived entity: SavingsAndLoanHoldingCompany dtype: Money period: Day unit: USD source: 12 USC 1467a(r) metadata: proof: atoms: - path: versions[0].formula kind: formula source: corpus_citation_path: us/statute/12/1467a - path: versions[0].formula kind: amount source: corpus_citation_path: us/statute/12/1467a excerpt: $2,000 ... $20,000 ... $1,000,000 or 1 percent versions: - effective_from: '0001-01-01' formula: >- if first_tier_report_violation_applies: first_tier_report_penalty_daily_cap else: if second_tier_report_violation_applies: second_tier_report_penalty_daily_cap else: if third_tier_report_violation_applies: min(third_tier_report_penalty_fixed_daily_cap, total_assets * third_tier_report_penalty_asset_share_cap) else: 0