Page:United States Statutes at Large Volume 103 Part 1.djvu/429

 PUBLIC LAW 101-73 —AUG. 9, 1989 103 STAT. 401 terest paymentB on outstanding debt of the Funding Cor- poration. "(B) PROCEEDS FROM RESOLUTION TRUST CORPORATION. —To the extent the amounts available pursuant to subparagraph (A) are insufficient to cover the amount of interest pay- ments, the Resolution Trust Corporation shall pay to the Funding Corporation— "(i) the liquidating dividends and payments made on claims received by the Resolution Trust Corporation from receiverships to the extent such proceeds are determined by the Oversight Board to be in excess of funds presently necessary for resolution costs; and "(ii) any proceeds from warrants and participations acquired by the Resolution Trust Corporation. " (C) PAYMENTS BY FEDERAL HOME LOAN BANKS. —To the extent the amounts available pursuant to subparagraphs (A) and (B) are insufficient to cover the amount of interest payments, the Federal Home Loan Banks shall pay to the Funding Corporation each calendar year the giggregate amount of $300,000,000 minus the amounts required in such year for Financing Corporation principal payments (pursu- ant to section 21) and the amounts required in such year by the Funding Corporation pursuant to subsection (e). Each Bank's individual share of any amounts required to be paid by the Banks under this subparagraph shall be determined as follows: "(i) AMOUNTS UP TO 20 PERCENT OF NET EARNINGS. — Each Federal Home Loan Bank shall pay an equal percentage of its net earnings for the year for which such amount is required to be paid, up to a maximum of 20 percent of net earnings. "(ii) AMOUNTS IN EXCESS OF 20 PERCENT OF NET EARN- INGS.—I f the aggregate amount required to be paid by the Federal Home Loan Banks under this subpara- graph for any year exceeds 20 percent of the aggregate net earnings of the Banks for such year, each Bank shall pay 20 percent of its net earnings for such year as provided in clause (i), and each Bank s individual share of the excess of the required amount over 20 percent of the aggregate net earnings of the Banks for such year shall be determined by dividing— "(I) the average month-end level in the prior year of advances outstanding by such Bank to Savings Associations Insurance Fund members; by "(II) the average month-end level in the prior year of advances outstanding by all such Banks to Savings Associations Insurance Fund members. "(D) PROCEEDS FROM SALE OF ASSETS. — To the extent the amounts available pursuant to subparagraphs (A), (B), and (C) are insufficient to cover the amount of interest pay- ments, the FSLIC Resolution Fund shall transfer to the Funding Corporation any net proceeds from the sale of gissets received from the Resolution Trust Ck>rporation, which shall be used by the Funding Corporation to pay such interest. "(E) TREASURY BACKUP.—

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