Tuesday, February 20, 2024 2:33:12 AM
An article commissioned by the plotters to peddle the same lies.
FnF don't pay interests on SPS, but dividends (a capital distribution restricted, like the gifted SPS. The exceptions kicked off: for this case, U.S. Code 4614(e): it's applied towards the reduction of SPS.
And the capital requirements are met with the regulatory and statutory capital metrics Core Capital, Total Capital, CET1 and Tier 1 Capital in any financial institution in the world, not with the Net Worth and not with the invalid in the FHEFSSA "Capital Reserve", that is only used for the balance sheet of the Federal Reserve and called "Capital Surplus", with a statutory limit of $6.825B (a reduction from $7.5B was enacted by law on May 24, 2018: The Economic Growth, Regulatory Relief, and Consumer Protection Act. Its limit is changed from time to time).
FnF don't have these statutory limits in the Charter Act and the SPSPA isn't a law. This is why the FHFA and the UST cannot establish limits in the "Applicable Capital Reserve" with fact sheets or agreements, that the plotters call "contracts". Evidence that it was all part of the Separate Account plan.
By the way, adjusted Capital Reserve= $0 (adjusted for the offset attached to the $125B SPS LP increased for free). So, an invalid capital metric and badly assessed. Nice going!
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