### Question
How does FEDERAL HOME LOAN BANKS define net earnings?


### Answer
Under *12 U.S.C. § 1441b*, **net earnings** is defined as:

> net earnings without reduction for chargeoffs or expenses incurred by a Federal Home Loan Bank for the purchase of capital stock of the Financing Corporation or payments relating to the Funding Corporation required by the Thrift Depositor Protection Oversight Board under subsections (e) and (f)

#### Citation:
  - *12 U.S.C. § 1441b*
  - Heading: **CHAPTER 11-FEDERAL HOME LOAN BANKS**

