WHAT THE LAW DOINCongress, in plain words

The law › Title 12, Banks and Banking › Chapter 11

12 U.S.C. 1436: Reserves and dividends; emergency suspensions of requirements

Created in 1964 by Public Law 88-560. Changed by 7 later laws. No bill we track in this Congress changes it.

3 other sections of the Code cite this one, including 12 U.S.C. 1430, 12 U.S.C. 1441, 12 U.S.C. 1441b.

3 parts of federal rules cite it as their authority, written by Federal Housing Finance Agency (3).

This Congress

No bill we track in the 119th Congress changes this section.

    How it got here

    2008

    • Pub. L. 110–289 substituted "the Director" for "the Board" wherever appearing. (Housing and Economic Recovery Act of 2008) Law text

    1999

    • Pub. L. 106–102, in third sentence substituted "previously retained earnings or current net earnings" for "net earnings" and struck out ", and then only with the approval of the Federal Housing Finance Board" after "section 1441b(e) of this title" and struck out fourth sentence which r… (Gramm-Leach-Bliley Act) Law text · (a)

    1989

    • Pub. L. 101–73, §724(a)(1), substituted "Each Federal Home Loan Bank may carry to a reserve account from time-to-time such portion of its net earnings as may be determined by its board of directors." for "Each Federal Home Loan Bank shall carry to a reserve account semiannually 20 per … · (a)
    • Pub. L. 101–73, §724(a)(2), substituted "No dividends shall be paid except out of net earnings remaining after reductions for all reserves, chargeoffs, purchases of capital certificates of the Financing Corporation, and payments relating to the Funding Corporation required under this chapter have b… · (a)
    • Pub. L. 101–73, §701(b)(1), (3)(A), substituted "Board" for "board" wherever appearing. · (a)

    1987

    • Pub. L. 100–86 added subsec. (c). · (c)

    1982

    • Pub. L. 97–320 designated existing provisions as subsec. (a) and added subsec. (b).

    1974

    • Pub. L. 93–383 inserted reference to mortgages, obligations, or other securities sold by the Federal Home Loan Mortgage Corporation pursuant to section 1454 or section 1455 of this title.

    1968

    • Pub. L. 90–448 authorized investments in obligations, participations, or other instruments issued by the Government National Mortgage Association.

    1964

    • Pub. L. 88–560 substituted "in obligations, participations, or other instruments of or issued by the Federal National Mortgage Association" for "in obligations of the Federal National Mortgage Association".

    Text, outline and history from the official U.S. Code (2024 edition) on GovInfo, published by the Office of the Law Revision Counsel. Changes made after that edition appear under This Congress.