12 C.F.R. § 620.17 Contents of the notice.
Title 12 - Banks and Banking
(a) The information required to be in a notice must be conspicuous, easily understandable, and not misleading. (b) A notice, at a minimum, shall include: (1) A statement that: (i) Briefly describes the regulatory minimum permanent capital standard established by the Farm Credit Administration and the notice requirement of §620.15(a); (ii) Indicates the institution's current level of permanent capital; and (iii) Notifies shareholders that the institution's permanent capital is below the Farm Credit Administration regulatory minimum standard. (2) A statement of the effect that noncompliance has had on the institution and its shareholders, including whether the institution is currently prohibited by statute or regulation from retiring stock or distributing earnings or whether the Farm Credit Administration has issued a capital directive or other enforcement action to the institution. (3) A complete description of any event(s) that may have significantly contributed to the institution's noncompliance with the minimum permanent capital standard. (4) A statement that the institution is required by regulation to provide another notice to shareholders within 45 days following the end of any subsequent quarter at which the institution's permanent capital ratio decreases by one half of one percent or more from the level reported in the notice. [62 FR 15093, Mar. 31, 1997, as amended at 67 FR 16634, Apr. 8, 2002]
Title 12: Banks and Banking
PART 620—DISCLOSURE TO SHAREHOLDERS
Subpart D—Notice to Shareholders
§ 620.17 Contents of the notice.
