Page:Emergency Economic Stabilization Act of 2008.djvu/10

 O:k4YOk4YO0 8 C0 4.xaxd t0 1 (t) IN GENEA.--If' the SecretroT establishes 2 the program authorized under section tot, then the 3 Secretary shall establish a program to guarantee 4 troubled assets originated or issued prior to March 5 14, 2008, including such mortgage-backed securities. 6 (2) GU2mXNTEES.--In establishing any pro- 7 gram under this subsection, the SecretroT may de- 8 velop guarantees of troubled assets and the associ- 9 ated premiums for such guarantees. Such guaran- 10 tees and premiums may be determined by category 11 or class of' the troubled assets to be guaranteed. 12 (3) EXTENT OF GUARANTEE.--Upon request of' 13 a financial institution, the Secretmy may guarantee 14 the timely payment of' principal of', and interest on, 15 troubled assets in amounts not to exceed tOO per- 16 cent of' such payments. Such guarantee may be on 17 such terms and conditions as are determined by the 18 Secretmy, provided that such terms and conditions 19 are consistent with the purposes of' this Act. 20 (b) REPORTS. Not later than 90 days after the date 21 of enactment of this Act, the SecretroT shall report to the 22 appropriate committees of Congress on the program estab- 23 lished under subsection (a). 24 (e) PEMUMS.--

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