undivided profits

(7) Undivided profits defined For purposes of paragraph (3), the term “undivided profits” means retained earnings minus the sum of— (A) that portion required to be added to reserves maintained pursuant to the first two sentences of section 1436 of this title ; and (B) the dollar amounts held by the respective Federal Home Loan Banks in special dividend stabilization reserves on December 31, 1985 , as determined under the following table: Bank Dollar amount Federal Home Loan Bank of Boston $3.2 million Federal Home Loan Bank of New York 7.7 million Federal Home Loan Bank of Pittsburgh 5.2 million Federal Home Loan Bank of Atlanta 12.3 million Federal Home Loan Bank of Cincinnati 5.9 million Federal Home Loan Bank of Indianapolis 37.4 million Federal Home Loan Bank of Chicago 6.0 million Federal Home Loan Bank of Des Moines 32.7 million Federal Home Loan Bank of Dallas 45.0 million Federal Home Loan Bank of Topeka 13.7 million Federal Home Loan Bank of San Francisco 21.9 million Federal Home Loan Bank of Seattle 33.6 million

Source

12 USC § 1441(d)(7)


Scoping language

None identified. Default scope is assumed to be the entire title.
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