§ 1229.1 Definitions. For purposes of this subpart: *Capital distribution* means any payment by the Bank, whether in cash or stock, of a dividend, any return of capital or retained earnings by the Bank to its shareholders, any transaction in which the Bank redeems or repurchases capital stock, or any transaction in which the Bank redeems, repurchases or retires any other instrument which is included in the calculation of its total capital.
*Class A stock* means capital stock issued by a Bank, including subclasses, that has the characteristics specified in section 6(a)(4)(A)(i) of the Bank Act (12 U.S.C. 1426(a)(4)(A)(i)) and related regulations.
*Class B stock* means capital stock issued by a Bank, including subclasses, that has the characteristics specified in section 6(a)(4)(A)(ii) of the Bank Act (12 U.S.C. 1426(a)(4)(A)(ii)) and related regulations.
*Critical capital level* for a Bank means an amount equal to 2 percent of the Bank's total assets.
*Executive officer* means for a Bank any of the following persons, provided that the Director may from time to time add or remove persons, positions, or functions to or from the list (individually for one or more Banks or jointly for all the Banks) by communication to the affected Banks: ( 1 ) Executive officers about whom the Banks must publicly disclose detailed compensation information under Regulation S-K, 17 CFR part 229, issued by the Securities and Exchange Commission;
( 2 ) Any other executive who occupies one of the following positions or is in charge of one of the following subject areas: ( i ) Overall Bank operations, such as the Chief Operating Officer or an equivalent employee;
( ii ) Chief Financial Officer or an equivalent employee;
( iii ) Chief Administrative Officer or an equivalent employee;
( iv ) Chief Risk Officer or an equivalent employee;
( v ) Asset and Liability Management officer, or an equivalent employee;
( vi ) Chief Accounting Officer or an equivalent employee;
( vii ) General Counsel or an equivalent employee;
( viii ) Strategic Planning officer or an equivalent employee;
( ix ) Internal Audit officer or an equivalent employee; or
( x ) Chief Information Officer or an equivalent employee; or
( 3 ) Any other individual, without regard to title: ( i ) Who is in charge of a principal business unit, division or function; or
( ii ) Who reports directly to the Bank's chairman of the board of directors, vice chairman of the board of directors, president or chief operating officer.
*Minimum capital requirement* means the leverage and total capital requirements established for a Bank under section 6(a)(2) of the Bank Act (12 U.S.C. 1426(a)(2)) and related regulations, as such requirements may be revised by the Director, or any similar requirement established for a Bank by regulation, order, written agreement or other action.
*New business activity* when used in this subpart has the same meaning set forth in § 1272.1 of this chapter.
*Permanent capital* means the retained earnings of a Bank, determined in accordance with generally accepted accounting principles in the United States (GAAP), plus the amount paid-in for the Bank's Class B stock.
*Risk-based capital requirement* means any capital requirement established for a Bank under section 6(a)(3) of the Bank Act (12 U.S.C. 1426(a)(3)) and related regulations that ensures a Bank will hold sufficient permanent capital and reserves to support the risks that arise from its operations.
*Tangible equity* means, for a Bank, the paid-in value of its outstanding capital stock plus its retained earnings calculated in accordance with generally accepted accounting principles in the United States (GAAP) less the amount of any assets that would be intangible assets under GAAP.
*Total capital* means the sum of the Bank's permanent capital, the amount paid-in for its Class A stock, the amount of any general allowances for losses, and the amount of any other instruments identified in a Bank's capital plan that the Director has determined to be available to absorb losses incurred by such Bank.
[74 FR 5604, Jan. 30, 2009, as amended at 78 FR 2323, Jan. 11, 2013; 81 FR 76295, Nov. 2, 2016]