Page:United States Statutes at Large Volume 103 Part 1.djvu/428

 103 STAT. 400 PUBLIC LAW 101-73 —AUG. 9, 1989 under paragraph (3) after purchases under paragraphs (4), (5), and (6), the amounts necessary to provide additional funding for the Funding Corporation Principal Fund shall be obtained from the following sources: "(A) ASSESSMENTS. — The Funding Corporation, with the approval of the Board of Directors of the Federal Deposit Insurance Corporation, shall assess against each Savings Association Insurance Fund member an assessment (in the same manner as assessments are assessed against such members by the Federal Deposit Insurance Corporation pursuant to section 7 of the Federal Deposit Insurance Act) except that— "(i) the maximum amount of the aggregate amount assessed shall be the amount of additional funds nec- essary to fund the Funding Corporation Principal ' Fund; "(ii) the sum of— "(I) thie amount assessed under this subpara- • ''" graph; and "(II) the amount assessed by the Financing Cor- poration under section 21; shall not exceed the amount authorized to be assessed against Savings Association Insurance Fund members pursuant to section 7 of the Federal Deposit Insurance Act; ' "(iii) the Financing Corporation shall have first prior- ity to make the assessment; and "(iv) the amount of the applicable assessment deter- mined under such section 7 shall be reduced by the sum described in clause (ii) of this subparagraph. "(B) RECEIVERSHIP PROCEEDS.— To the extent the amounts available pursuant to subparagraph (A) are insufficient to fund the Funding Corporation Principal Fund, the Federal Deposit Insurance Corporation shall transfer amounts to the Funding Corporation from the liquidating dividends and payments made on claims received by the FSLIC Reso- \ lution Fund from receiverships. "(8) TRANSFER TO RTC.— The Funding Corporation shall trans- fer to the Resolution Trust Corporation $1,200,000,000 in fiscal year 1989. " (0 OBLIGATIONS OF FUNDING CORPORATION. — "(1) ISSUANCE.—The Funding Corporation may issue bonds, notes, debentures, and similar obligations in an aggregate amount not to exceed $30,000,000,000. No obligation may be issued under this paragraph unless, at the time of issuance, the face amounts (the amount of principal payable at maturity) of noninterest bearing instruments in the Funding Corporation Principal Fund are equal to the aggregate amount of principal on the obligations of the Funding Corporation that will be outstanding following such issuance. "(2) INTEREST PAYMENTS. —The Funding Corporation shall pay the interest due on such obligations from funds obtained for such interest payments from the following sources: "(A) EARNINGS ON CERTAIN ASSETS.—Earnings on assets of the Funding Corporation which are not invested in the Funding Corporation Principal Fund shall be used for in-

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