[Code of Federal Regulations]

[Title 12, Volume 7]

[Revised as of January 1, 2006]

From the U.S. Government Printing Office via GPO Access

[CITE: 12CFR997.4]



[Page 230]

 

                       TITLE 12--BANKS AND BANKING

 

                CHAPTER IX--FEDERAL HOUSING FINANCE BOARD

 

PART 997_RESOLUTION FUNDING CORPORATION OBLIGATIONS OF THE BANKS

--Table of Contents

 

Sec. 997.4  Calculation of the quarterly present-value determination.



    (a) Applicable interest rates. The Finance Board shall obtain from 

the Department of the Treasury the applicable estimated interest rates 

and provide those rates to the REFCORP so that the REFCORP can perform 

the calculations required under Sec. Sec. 997.2 and 997.3.

    (b) Calculation by the Finance Board. If Sec. 997.3 requires that 

the term for the Banks' actual quarterly payments extend beyond April 

15, 2030 or if, for any reason, the REFCORP is unable to perform the 

calculations or to provide the Finance Board with the results of the 

calculations, the Finance Board shall make all calculations required 

under this part.

    (c) Records. The Finance Board will maintain the official record of 

the results of all quarterly present-value determinations made under 

this part.