Common use of Notification to the FHFA Clause in Contracts

Notification to the FHFA. A Bank shall provide written notification with- in ten calendar days of any event or de- velopment that has caused or is likely to cause its permanent or total capital to fall below the level necessary to maintain its capital classification at the level assigned in the most recent capital classification or reclassifica- tion determination by the Director or that is contained in the most recent notice of a proposed capital classifica- tion or reclassification provided under § 1229.12(a) of this subpart. § 1229.3 Criteria for a Bank’s capital classification.