Page:United States Statutes at Large Volume 101 Part 1.djvu/601

 PUBLIC LAW 100-86—AUG. 10, 1987

101 STAT. 571

which is not an insured institution), which controls a single insured institution on the date of enactment of the Competitive Equality Amendments of 1987 shall not be subject to this subsection with respect to any activities of such holding company which are conducted exclusively in a foreign country.", (c) REQUIREMENTS LENDER.—

FOR TREATMENT

AS A QUALIFIED

THRIFT

(1) IN GENERAL.—Section 408 of the National Housing Act (12 U.S.C. 1730a) is amended by adding at the end thereof the following new subsection: "(o) QUALIFIED THRIFT LENDER REQUIREMENTS.—

"(1) IN GENERAL.—Except as provided in paragraphs (2) and (3), any insured institution shall have the status of a qualified thrift lender if— "(A) the qualified thrift investments of such insured institution equal or exceed 60 percent of the total tangible assets of such institution; and "(B) the qualified thrift investments of such insured institution continue to equal or exceed 60 percent of the total tangible assets of such institution on an average basis in 3 out of every 4 quarters and 2 out of every 3 years.

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"(2) TRANSITION RULE FOR CERTAIN INSTITUTIONS.—



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"(A) IN GENERAL.—If any insured institution— "(i) which was chartered as a savings bank or a cooperative bank under State law before October 15, 1982; or "(ii) the principal assets of which were acquired from an institution which was chartered as a savings bank or a cooperative bank under State law before October 15, 1982, meets the requirements of subparagraph (B), such insured institution shall be treated as a qualified thrift lender during the 10-year period beginning on January 1, 1988. "(B)

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SUBPARAGRAPH

(B)

REQUIREMENTS.—An

insured

institution meets the requirements of this subparagraph if, in the determination of the Corporation— "(i) the actual thrift investment percentage of such institution does not, after the date of the enactment of the Competitive Equality Amendments of 1987, decrease below the actual thrift investment percentage of such institution on such date of enactment; and "(ii) the amount by which— "(I) the actual thrift investment percentage of such institution at the end of each period described in the following table, exceeds "(II) the actual thrift investment percentage of such institution on such date of enactment, is equal to or greater than the applicable percentage (as determined under the following table) of the amount by which 60 percent exceeds the actual thrift investment percentage of such institution on such date of enactment:

"For the following period: The 2V'2-year period beginning on such date of enactment The 5-year period beginning on such date of enactment The 7y2-year period beginning on such date of enactment

The applicable percentage is: 25 percent 50 percent 75 percent

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