Page:United States Statutes at Large Volume 103 Part 1.djvu/436

 103 STAT. 408 PUBLIC LAW 101-73 —AUG. 9, 1989 "(B) the Financing Corporation shall have first priority to make the assessment; and "(C) the amount of the applicable assessment determined under such section 7 shall be reduced by the sum described in subparagraph (A) of this paragraph. "(3) RECEIVERSHIP PROCEEDS. —To the extent the amounts available pursuant to paragraphs (1) and (2) are insufficient to cover the amount of interest payments, issuance costs, and custodial fees, and if the funds are not required by the Resolu- tion Funding Corporation to provide funds for the Funding Corporation Principal Fund under section 21B, the Federal Deposit Insurance Corporation shall transfer to the Financing Corporation, from the liquidating dividends and payments made on claims received by the FSLIC Resolution Fund (established under section 11A of the Federal Deposit Insurance Act) from receiverships, the remaining amount of funds necessary for the Financing Corporation to make interest payments."; (14) in subsection (g)(1) by striking "National Housing Act," and inserting "National Housing Act before the date of enact- ment of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 and after such date in capital certifi- cates issued by the FSLIC Resolution Fund,"; (15) in subsection (g), by inserting the following at the end of paragraph (2): "For purposes of the foregoing, the Financing Corporation shall be deemed to hold noninterest bearing instruments that it lends temporarily to primary United States Treasury dealers in order to enhance market liquidity and facilitate deliveries, provided that United States Treasury securities of equal or greater value have been delivered as collateral."; (16) in subsection (j), by striking subparagraph (A) of para- graph (1) and inserting the following: "(A) the maturity and full payment of all obligations issued by the Financing Corporation pursuant to this sec- tion; or"; and (17) in subsection (1)— (A) by striking paragraph (1) and inserting the following: "(1) SAVINGS ASSOCIATION INSURANCE FUND MEMBER.—The term 'Savings Association Insurance Fund member' means a savings association which is a Savings Association Insurance - ' Fund member as defined by section 7(1) of the Federal Deposit Insurance Act."; and (B) by striking paragraph (2) and redesignating para- graphs (3) and (4) as paragraphs (2) and (3), respectively. TITLE VI—THRIFT ACQUISITION ENHANCEMENT PROVISIONS SEC. 601. ACQUISITION OF THRIFT INSTITUTIONS BY BANK HOLDING COMPANIES. (a) IN GENERAL.—Section 4 of the Bank Holding Company Act of 1956 (12 U.S.C. 1843) is amended by adding at the end the following new subsection:

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