Page:United States Statutes at Large Volume 101 Part 1.djvu/622

 101 STAT. 592

PUBLIC LAW 100-86—AUG. 10, 1987
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"(i) issuance costs (as such term is defined in subsection (g)(5)(A)) incurred with respect to obligations issued during such year; "(ii) interest paid on (and any redemption p r e m i u m paid with respect to) obhgations of the Financing Corporation during such year; and "(iii) custodian fees (as such term is defined in subsection (g)(5)(B)) incurred during such year; m i n u s "(B) the aggregate a m o u n t of any payments under subsection (g)(4) during such year.

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"(4) TERMINATION ASSESSMENTS.— "(A) ASSESSMENT AUTHORIZED.—The F i n a n c i n g Corpora-

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tion shall, with the approval of the Board, assess a termi• &^i 5 ^^-J y:t nation assessment on any insured institution which ceases j-> to be an insured institution. "(B) MAXIMUM AMOUNT OF ASSESSMENT.—The amount of i' the assessment on any institution under subparagraph (A) J -i shall be the amount which is equal to the sum of— "(i) the amount which is equal to 2 times the last annual insurance premium payable by such institution 12 USC 1727. under section 404(b) of the National Housing Act (including the amount of any assessment imposed under paragraph (1) of this subsection in lieu of any such premium); and "(ii) the amount which is the product of— "(I) the aggregate amount of all accounts of in^ ^ ^ ^ '• ' sured members of such institution (as of the date the institution ceases to be an insured institution); ^ and "(II) 2 times the rate (expressed as an annual rate) at which the supplemental assessment under Post, p. 601. Rtoi - :pin x section 404(c) of the National Housing Act was assessed against insured institutions by the Fed'^^ eral Savings and Loan Insurance Corporation in > ^ 1986. "(C) REDUCTION IN ASSESSMENT ALLOWED FOR WEAKENED

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INSTITUTIONS.—The amount of any assessment which the Financing Corporation may otherwise impose under this paragraph on an institution (which ceases to be an insured institution) may be reduced by such amount as the Financing Corporation, with the approval of the Board, may deem appropriate when— "(i) the institution poses a substantial risk to the assets of the Federal Savings and Loan Insurance Corporation; and "(ii) such reduction is necessary to assist in the sale or other disposition of the institution. "(D) TIME FOR PAYING ASSESSMENT.— "(i) DUE WITHIN 30 DAYS.—If an

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assessment is imposed on an institution under subparagraph (A), the institution shall be obligated to pay such assessment before the end of the 30-day period beginning on the date on which such institution ceases to be an insured institution. "(ii)

SEMIANNUAL INSTALLMENTS WITH INTEREST.—

Notwithstanding the requirement of clause (i), an institution may elect to pay the amount of any assess-

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