Definitions.

CFR · 2024-01-01 · US · Title 12

For the purpose of this subpart, the following definitions apply: (1) A temporary difference that a System institution could realize through a net loss carryback; (2) A temporary difference that a System institution could not realize through net loss carryback; and (3) An operating loss and tax credit carryforward. (1) Current year earnings; (2) Allocated and unallocated earnings (which, in the case of earnings allocated in any form by a System bank to any association or other recipient and retained by the bank, must be considered, in whole or in part, permanent capital of the bank or of any such association or other recipient as provided under an agreement between the bank and each such association or other recipient); (3) All surplus; (4) Stock issued by a System institution, except: (i) Stock that may be retired by the holder of the stock on repayment of the holder's loan, or otherwise at the option or request of the holder; (ii) Stock that is protected under section 4.9A of the Act or is otherwise not at risk; (iii) Farm Credit Bank equities required to be purchased by Federal land bank associations in connection with stock issued to borrowers that is protected under section 4.9A of the Act; (iv) Capital subject to revolvement, unless: (A) The bylaws of the System institution clearly provide that there is no express or implied right for such capital to be retired at the end of the revolvement cycle or at any other time; and (B) The System institution clearly states in the

official document · source cfr-2024 · id 12:§ 615.5201