Page:United States Statutes at Large Volume 103 Part 1.djvu/425

 PUBLIC LAW 101-73 —AUG. 9, 1989 103 STAT. 397 by each Federal Home Loan Bank under paragraph (1) shall not at any time exceed the sum of the amounts calculated under subparagraphs (A) and (B), as adjusted in subparagraph (C), as follows: "(A) RESERVES AND UNDIVIDED PROFITS ON DECEMBER 3I, 1988.—The sum on December 31, 1988, of— "(i) the reserves maintained by such Bank pursuant to the reserve requirement contained in the first 2 sentences of section 16 (as in effect on December 31, 1988); and "(ii) the undivided profits of such Bank, minus the amounts invested in the capital stock of the Financing Corporation pursuant to section 21. " (B) SUBSEQUENT ADDITIONS TO RESERVES AND UNDIVIDED PROFITS.— The amount, calculated until £he date on which the Funding Corporation Principal Fund is fully funded, equal to^ "(i) the sum of^ "(I) the amounts added to reserves by such Bank after December 31, 1988, pursuant to the reserve requirement contained in the first 2 sentences of ^ section 16 (as in effect on December 31, 1988); and "(II) the quarterly additions to undivided profits of the Bank after December 31, 1988; minus "(ii) the amounts invested by such Bank in the cap- ital stock of the Financing (Corporation after Decem- ber 31, 1988, pursuant to the requirement contained in section 21. "(C) ANNUAL ADJUSTMENT.—The amounts in subpara- graph (B) shall be adjusted as follows: "(i) INCREASE IN LIMIT. —I f the aggregate amount for all Federal Home Loan Banks determined under subparagraph (B)(i) is less than $300,000,000 per year, the limit for each Bank shall be increased by an amount determined by the Oversight Board by mul- tiplying the aggregate deficiency by the percentage applicable to such Bank arrived at in the manner described in paragraph (5). "(ii) DECREASE IN LIMIT. —I f the aggregate amount for, all Federal Home Loan Banks determined under subparagraph (B)(i) is more than $300,000,000 per year, the limit for each Bank shall be decreased by an amount determined by the Oversight Board by mul- tiplying the aggregate excess by the percentage applicable to such Bank arrived at in the manner described in paragraph (5). "(4) PRO RATA DISTRIBUTION OF FIRST $1,000,000,000 INVESTED IN FUNDING CORPORATION BY FEDERAL HOME LOAN BANKS.—OF the first $1,000,000,000 of the aggregate that the Federal Hous- ing Finance Board (pursuant to section 21) or the Oversight Board (under this section) may require the Federal Home Loan Banks collectively to invest in the capital stock of the Financing (Corporation or invest in the capital stock of the Funding (Cor- poration, respectively, the amount which each Federal Home Loan Bank (or any successor to the Bank) shall invest shall be ^ determined by the Federal Housing Finance Board or the Over- sight Board (as the case may be) by multiplying the aggregate

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