12 USC 5366 - Early remediation requirements

U.S Code last checked for updates: Nov 23, 2024

§ 5366.

Early remediation requirements

(a)

In general

(b)

Purpose of the early remediation requirements

(c)

Remediation requirements

The regulations prescribed by the Board of Governors under subsection (a) shall—

(1)

define measures of the financial condition of the company, including regulatory capital, liquidity measures, and other forward-looking indicators; and

(2)

establish requirements that increase in stringency as the financial condition of the company declines, including—

(A)

requirements in the initial stages of financial decline, including limits on capital distributions, acquisitions, and asset growth; and

(B)

requirements at later stages of financial decline, including a capital restoration plan and capital-raising requirements, limits on transactions with affiliates, management changes, and asset sales.

(Pub. L. 111–203, title I, § 166, July 21, 2010, 124 Stat. 1432.)

cite as: 12 USC 5366