Page:United States Statutes at Large Volume 103 Part 1.djvu/338

 103 STAT. 310 PUBLIC LAW 101-73—AUG. 9, 1989 "(B) STANDARDS FOR APPROVAL OR DISAPPROVAL.— In deter- mining whether to grant an exception under subparagraph (A), the Director shall apply the same standards as apply to determinations under paragraph (7)(C). "(9) DEFINITIONS.—For purposes of this subsection— "(A) CORE CAPITAL.— Unless the Director prescribes a more stringent definition, the term 'core capital' means core capital as defined by the Comptroller of the Currency for national banks, less any unidentifiable intangible assets, plus any purchased mortgage servicing rights ex- cluded from the Comptroller's definition of capital but in- cluded in calculating the core capital of savings associations pursuant to paragraph (4). "(B) QuAUFYiNG SUPERVISORY GOODWILL. —The term 'qualifying supervisory goodwill' means supervisory good- will existing on April 12, 1989, amortized on a straightline basis over the shorter of— "(i) 20 years, or "(ii) the remaining period for amortization in effect on April 12, 1989. "(C) TANGIBLE CAPITAL. —The term 'tangible capital' means core capital minus any intangible assets (as intangi- ble assets are defined by the Comptroller of the Currency for national banks). "(D) TOTAL ASSETS. —The term 'total assets' means total assets (as total assets are defined by the Comptroller of the Currency for national banks) adjusted in the same manner as total assets would be adjusted in determining compliance with the leverage limit applicable to national banks if the savings association were a national bank. "(10) USE OF COMPTROLLER'S DEFINITIONS. — (A) IN GENERAL.— The standards prescribed under para- graph (1) shall include all relevant substantive definitions established by the Comptroller of the Currency for national banks. "(B) SPECIAL RULE. —I f the Comptroller of the Currency has not made effective regulations defining core capital or establishing a risk-based capital standard, the Director shall use the definition and standard contained in the Comptroller's most recently published final regulations, " (u) LIMITS ON LOANS TO ONE BORROWER.— "(1) IN GENERAL.—Section 5200 of the Revised Statutes shall apply to savings associations in the same manner and to the same extent as it applies to national banks. "(2) SPECIAL RULES. — "(A) Notwithstanding paragraph (1), a savings association may make loans to one borrower under one of the following clauses: "(i) for any purpose, not to exceed $500,000; or "(ii) to develop domestic residential housing units, not to exceed the lesser of $30,000,000 or 30 percent of the savings association's unimpaired capital and unimpaired surplus, if— "(I) the purchase price of each single family dwelling unit the development of which is financed under this clause does not exceed $500,000;

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