Earnings limitation under 12 U.S.C. 60.

CFR · 2024-01-01 · US · Title 12

(a) (b) (c) (2) (ii) If the bank's retained net income in current year minus three and current year minus four was insufficient to offset the full amount of the excess dividends declared, as calculated in accordance with paragraph (c)(2)(i) of this section, then the amount that is not offset will reduce the retained net income available to pay dividends in the current year. (iii) The calculation in paragraphs (c)(2)(i) and (c)(2)(ii) of this section applies only to retained net loss that results from dividends declared in excess of a single year's net income and does not apply to other types of current earnings deficits. (3)

official document · source cfr-2024 · id 12:§ 5.64