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Code of Federal Regulations (Last Updated: July 5, 2024) |
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Title 12 - Banks and Banking |
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Chapter XII - Federal Housing Finance Agency |
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SubChapter E - Housing Goals and Mission |
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Part 1291 - Federal Home Loan Banks' Affordable Housing Program |
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Subpart B - Program Administration and Governance |
§ 1291.10 - Required annual AHP contribution.
Latest version.
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§ 1291.10 Required annual AHP contribution.
Each Bank shall contribute annually to its Program the greater of:
(a) 10 percent of the Bank's net earnings for the previous year; or
(b) That Bank's pro rata share of an aggregate of $100 million to be contributed in total by the Banks, such proration being made on the basis of the net earnings of the Banks for the previous year, except that the required annual AHP contribution for a Bank shall not exceed its net earnings in the previous year.