Page:United States Statutes at Large Volume 101 Part 1.djvu/602

 101 STAT. 572

PUBLIC LAW 100-86—AUG. 10, 1987 "(3) EXCEPTIONS GRANTED BY CORPORATION.—Notwithstanding

paragraph (1), the Corporation may grant such temporary and limited exceptions from the minimum actual thrift investment percentage requirement contained in such paragraph as the Corporation deems necessary if— "(A) the Corporation determines that extraordinary circumstances exist, such as when the effects of high interest
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rates reduce mortgage demand to such a degree that an .>-:* insufficient opportunity exists for an insured institution to meet such investment requirements; or "(B) the Corporation determines that— "(i) the grant of any such exception will facilitate an Post, pp. 613,575. acquisition under section 406(f) or 408(m); and "(ii) the acquired institution will comply with the rv transition requirements of paragraph (2)(B). "(4) FAILURE TO MAINTAIN QTL STATUS.—Any insured institution which fails to maintain its status as a qualified thrift lender, as determined by the Corporation, may not thereafter be a qualified thrift lender for a period of 5 years. (5) DEFINITIONS.—For purposes of this subsection— "(A) ACTUAL THRIFT INVESTMENT PERCENTAGE.—The term 'actual thrift investment percentage' means the percentage determined by dividing— f "(i) the amount of the qualified thrift investments of v], an insured institution, by "(ii) the total amount of tangible assets of such insured institution. "(B) QuAUFiED THRIFT INVESTMENTS.—The term 'qualified thrift investments' means, with respect to any insured institution, the sum of— "(i) the aggregate amount of loans, equity positions, or securities held by the insured institution (or any subsidiary of such institution) which are related to domestic residential real estate or manufactured j ft;/, housing; "(ii) the value of property used by such institution or subsidiary in the conduct of the business of such institution or subsidiary; "(iii) subject to paragraph (6), the liquid assets of the type required to be maintained under section 5A of the 12 USC 1425a. Federal Home Loan Bank Act; and "(iv) subject to paragraph (6), 50 percent of the dollar amount of the residential mortgage loans originated by such insured institution or subsidiary and sold within 90 days of origination. "(6) LIMITATION ON TREATMENT OF CERTAIN ASSETS AS THRIFT

INVESTMENTS.—The aggregate amount of the assets described in clauses (iii) and (iv) of paragraph (5)(B) which may be taken into account in determining the amount of the qualified thrift investments of any insured institution shall not exceed the amount which is equal to 10 percent of the tangible assets of such institution. "(7) ADDITIONAL TRANSITION RULE.—The insured institution

described in subsection (r)(2)(C) shall be treated as a qualified

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