Retained earnings.

CFR · 2024-01-01 · US · Title 12

(a) (b) (1) The increase in retained earnings (meaning, for purposes of § 1805.504(b), revenue minus expenses less any dividend payments) that has occurred over the Applicant's or Recipient's fiscal year as set forth in the applicable Notice of Funds Availability; or (2) The annual average of such increases that occurred over the Applicant's or Recipient's three consecutive fiscal years as set forth in the applicable Notice of Funds Availability. (c) (i) The increase in retained earnings that has occurred over the Applicant's or Recipient's fiscal year as set forth in the applicable Notice of Funds Availability; (ii) The annual average of such increases that has occurred over the Applicant's or Recipient's three consecutive fiscal years as set forth in the applicable Notice of Funds Availability; or (iii) The entire retained earnings that have been accumulated since the inception of the Applicant or Recipient, provided that the Assistance Agreement shall require that: (A) The Recipient shall increase its member shares, non-member shares, outstanding loans and/or other measurable activity as defined in and by an amount that is set forth in an applicable Notice of Funds Availability; (B) Such increase must be achieved by a date certain set forth in the applicable Notice of Funds Availability; (C) The level from which the achievement of said increases will be measured will be as of the date set forth in the applicable Notice of Funds Availability; and (D) Financial assistance sh

official document · source cfr-2024 · id 12:§ 1805.504