Page:United States Statutes at Large Volume 101 Part 1.djvu/634

 PUBLIC LAW 100-86—AUG. 10, 1987

101 STAT. 604

mium assessed against such insured institution under subsection (c) for any premium year beginning after 1987 and before 1993. "(B) ANNUAL MAXIMUM AMOUNT LIMITATION.—The amount of any offset allowed for any insured institution under subparagraph (A) for any premium year referred to in subparagraph (A) shall not exceed an amount which is equal to 20 percent of such institution's pro rata share of the statutorily prescribed amount (as computed for the calendar year in which such premium year begins). "(C) OFFSETS IN PREMIUM YEARS BEGINNING AFTER 1992.— Notwithstanding any other provision of law, an insured institution may offset such institution's pro rata share of the statutorily prescribed amount against any premium assessed against such insured institution under this section for any premium year beginning after 1992.

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"(D) STATUTORILY PRESCRIBED AMOUNT DEFINED.—For purposes

of this paragraph, the term 'statutorily prescribed amount' means— "(i) with respect to calendar year 1988, the sum of $823,705,000; and "(ii) with respect to any calendar year beginning after 1988, the sum contained in clause (i) minus the aggregate amount of offsets made by all insured institutions before the beginning of the calendar year for which such computation is being made.

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"(E) INSURED INSTITUTION'S PRO RATA AMOUNT.—For purposes

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of this paragraph, an insured institution's pro rata share of the statutorily prescribed amount is the percentage which is equal to such institution's pro rata share of the secondary reserve as determined under this subsection on the day before the date on which the Corporation ceased to recognize the secondary reserve. "(F) PREMIUM YEAR DEFINED.—For purposes of this paragraph, the term 'premium year' means, with respect to any insured institution, the 1-year period for which a premium is assessed against such insured institution under subsection (b) or (c).".

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(b) TECHNICAL AND CONFORMING AMENDMENTS.—

(1) Section 404(d)(l) of the National Housing Act (12 U.S.C. 1727(d)) is amended— (A) by striking out the second sentence of subparagraph (A); (B) by striking out paragraph (B); and "'' (C) by striking out "(1)(A)" and inserting in lieu thereof

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"(1)".

(2) Section 404(g) of the National Housing Act (12 U.S.C. 1727(g)) is amended by striking out the second sentence.

Thrift Industry Recovery Act

TITLE IV—THRIFT INDUSTRY RECOVERY PROVISIONS

12 USC 226 note. SEC. 401. SHORT TITLE. This title may be cited as the "Thrift Industry Recovery Act".

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