{"identifier":"/us/usc/t12/s4808","title":12,"num":"\u00a7\u202f4808.","heading":"Revising regulatory requirements for transfers of all types of assets with recourse","text":"\u00a7\u202f4808.\nRevising regulatory requirements for transfers of all types of assets with recourse\n(a)\nReview and revision of regulations\n(1)\nIn general\nDuring the 180-day period beginning on\n(A) review the agency\u2019s regulations and written policies relating to transfers of assets with recourse by insured depository institutions; and\n(B) in consultation with the other Federal banking agencies, promulgate regulations that better reflect the exposure of an insured depository institution to credit risk from transfers of assets with recourse.\n(2)\nRegulations required\nBefore the end of the 180-day period beginning on\nSeptember 23, 1994\n(b)\nRegulations required\n(1)\nIn general\nAfter the end of the 180-day period beginning on\nSeptember 23, 1994\n(2)\nException for safety and soundness\nThe appropriate Federal banking agency may require any insured depository institution to maintain risk-based capital in an amount greater than the amount determined under paragraph (1), if the agency determines, by regulation or order, that such higher amount is necessary for safety and soundness reasons.\n(c)\nCoordination with section 1835(b) of this title\nThis section shall not be construed as superseding the applicability of\nsection 1835(b) of this title\n(d)\nDefinitions\nFor purposes of this section, the terms \u201cappropriate Federal banking agency\u201d, \u201cFederal banking agency\u201d, and \u201cinsured depository institution\u201d have the same meanings as in\nsection 1813 of this title","url":"https://projectusc.org/usc/t12/s4808.html","content":[{"t":"sec","id":"/us/usc/t12/s4808","children":[{"t":"num","text":"\u00a7\u202f4808."},{"t":"heading","text":"Revising regulatory requirements for transfers of all types of assets with recourse"},{"t":"subsec","id":"/us/usc/t12/s4808/a","children":[{"t":"num","text":"(a)"},{"t":"heading","text":"Review and revision of regulations"},{"t":"para","id":"/us/usc/t12/s4808/a/1","children":[{"t":"num","text":"(1)"},{"t":"heading","text":"In general"},{"t":"chapeau","text":"During the 180-day period beginning on ","children":[{"t":"text","text":"September 23, 1994","tail":", each appropriate Federal banking agency shall, consistent with the principles of safety and soundness and the public interest\u2014"}]},{"t":"subpara","id":"/us/usc/t12/s4808/a/1/A","children":[{"t":"num","text":"(A)"},{"t":"content","text":" review the agency\u2019s regulations and written policies relating to transfers of assets with recourse by insured depository institutions; and","tail":"\n"}],"tail":"\n"},{"t":"subpara","id":"/us/usc/t12/s4808/a/1/B","children":[{"t":"num","text":"(B)"},{"t":"content","text":" in consultation with the other Federal banking agencies, promulgate regulations that better reflect the exposure of an insured depository institution to credit risk from transfers of assets with recourse.","tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t12/s4808/a/2","children":[{"t":"num","text":"(2)"},{"t":"heading","text":"Regulations required"},{"t":"content","children":[{"t":"p","text":"Before the end of the 180-day period beginning on ","children":[{"t":"text","text":"September 23, 1994","tail":", each appropriate Federal banking agency shall prescribe the regulations developed pursuant to paragraph (1)(B)."}],"tail":"\n"}],"tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"subsec","id":"/us/usc/t12/s4808/b","children":[{"t":"num","text":"(b)"},{"t":"heading","text":"Regulations required"},{"t":"para","id":"/us/usc/t12/s4808/b/1","children":[{"t":"num","text":"(1)"},{"t":"heading","text":"In general"},{"t":"content","children":[{"t":"p","text":"After the end of the 180-day period beginning on ","children":[{"t":"text","text":"September 23, 1994","tail":", the amount of risk-based capital required to be maintained, under regulations prescribed by the appropriate Federal banking agency, by any insured depository institution with respect to assets transferred with recourse by such institution may not exceed the maximum amount of recourse for which such institution is contractually liable under the recourse agreement."}],"tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"para","id":"/us/usc/t12/s4808/b/2","children":[{"t":"num","text":"(2)"},{"t":"heading","text":"Exception for safety and soundness"},{"t":"content","children":[{"t":"p","text":"The appropriate Federal banking agency may require any insured depository institution to maintain risk-based capital in an amount greater than the amount determined under paragraph (1), if the agency determines, by regulation or order, that such higher amount is necessary for safety and soundness reasons.","tail":"\n"}],"tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"subsec","id":"/us/usc/t12/s4808/c","children":[{"t":"num","text":"(c)"},{"t":"heading","text":"Coordination with section 1835(b) of this title"},{"t":"content","children":[{"t":"p","text":"This section shall not be construed as superseding the applicability of ","children":[{"t":"ref","text":"section 1835(b) of this title","href":"/us/usc/t12/s1835/b","tail":"."}],"tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"subsec","id":"/us/usc/t12/s4808/d","children":[{"t":"num","text":"(d)"},{"t":"heading","text":"Definitions"},{"t":"content","children":[{"t":"p","text":"For purposes of this section, the terms \u201cappropriate Federal banking agency\u201d, \u201cFederal banking agency\u201d, and \u201cinsured depository institution\u201d have the same meanings as in ","children":[{"t":"ref","text":"section 1813 of this title","href":"/us/usc/t12/s1813","tail":"."}],"tail":"\n"}],"tail":"\n"}],"tail":"\n"},{"t":"text","text":"\n"}]}]}