§ 1236.2. Definitions.
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/us/cfr/t12/s§ 1236.2·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Unless otherwise indicated, terms used in this part have the meanings that they have in part 1201 of this chapter, in the Safety and Soundness Act, 12 U.S.C. 4501 et seq., or in the Bank Act, 12 U.S.C. 1421 et seq. Extraordinary growth—(1) For purposes of 12 U.S.C. 4513b(b)(3)(C), means:
(i)With respect to a Bank, growth of non-advance assets in excess of 30 percent over the six calendar quarter period preceding the date on which FHFA notified the Bank that it was required to submit a corrective plan; and
(ii)With respect to an Enterprise, quarterly non-annualized growth of assets in excess of 7.5 percent in any calendar quarter during the six calendar quarter period preceding the date on which FHFA notified the Enterprise that it was required to submit a corrective plan.
(2)For purposes of calculating an increase in assets, assets acquired through merger or acquisition approved by FHFA are not to be included. Standard(s) means any one (or more) of the prudential management and operations standards established by the Director pursuant to 12 U.S.C. 4513b(a). Standard includes the introductory statement of general responsibilities of boards of directors and senior management of the regulated entities set forth in the appendix to this part. [77 FR 33959, June 8, 2012, as amended at 78 FR 2324, Jan. 11, 2013; 80 FR 72336, Nov. 19, 2015; 89 FR 3539, Jan. 19, 2024]
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