Sec. 5. Holding Company securities

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The Holding Company shall issue such equity securities as the Holding Company determines appropriate. The Holding Company may make such dividend payments on the equity securities of the Holding Company as the Holding Company determines appropriate. The Holding Company shall have the goal of raising $1,000,000,000 in the initial issuance of equity securities in a private placement and up to $100,000,000,000 or more of equity securities in public offerings over time, the purpose of which is to fund the Bank.

Any holder of an equity security of the Holding Company that is a non-U.S. individual or entity shall have no voting rights with respect to such equity security. The Holding Company may issue standard bonds with maturities up to 30 years or longer, as needed. The Holding Company may issue such other bonds, notes, and marketable securities with maturities and interest rates as the Holding Company determines appropriate. The Holding Company shall have the goal of making initial bond sales in a private placement in an aggregate amount of $10,000,000,000 and in public offerings in an amount of $1,000,000,000,000 or more over time.

Before issuing any bonds, the Holding Company shall submit a proposal for such bond issuance to the Secretary, and the Holding Company may only issue such bonds if the Secretary approves the proposal. The Secretary and the Board of Governors of the Federal Reserve System may purchase bonds issued under this subsection. The aggregate amount of outstanding bonds purchased by the Secretary under this subparagraph may not exceed 5 percent of the total amount of the outstanding bonds of the Holding Company.

The Holding Company shall seek to maintain risk-based capital at no less than 10 percent. Notwithstanding any other provision of law— non-U.S. individuals and entities may not hold more than 25 percent, in the aggregate, of the equity securities and bonds of the Holding Company; and nothing in this section shall prevent non-U.S. individuals and entities that are shareholders from receiving equity shares and dividend payments.