Page:United States Statutes at Large Volume 106 Part 4.djvu/917

 PUBLIC LAW 102-549—OCT. 28, 1992 106 STAT. 3663 services are reduced, fees to be paid under existing contracts for the same type of insurance, reinsurance, financing, or services and for similar guarantees issued under predecessor guarantee authority may be reduced. "(2) CREDIT TRANSACTION COSTS. — Project-specific transaction costs incurred by the Corporation relating to loan obligations or loan guarantee commitments covered by the provisions of the Federal Credit Reform Act of 1990, including the costs of project-related travel and expenses for legal representetion provided by persons outeide the Corporation and other similar expenses wluch are charged to the borrower, shall be paid out of the appropriate finance account established pursuant to section 505(D) of such Act. "(3) NONCREDIT TRANSACTION COSTS.— Fees paid for the project-specific transsiction costs and other direct coste associated with services provided to specific investors or potential investors pursuant to section 234 (other than those covered in paragraph (2)), including financing, insurance, reinsurance, missions, seminars, conferences, and other preinvestment services, shall be available for obligation for the purposes for which they were collected, notwithstanding any other provision of law.". (b) PENALTIES FOR FRAUD. —Section 237 of such Act is amended by adding at the end the following: " (n) PENALTIES FOR FRAUD.— Whoever knowingly makes any false statement or report, or wilUully overvalues any land, property, or security, for the pun)ose of influencing in any way the action of the Corporation with respect to any insurance, reinsurance, guarantee, loan, equity investment, or other activity of the Corporation under section 234 or any change or extension of any such insurance, reinsurance, guarantee, loan, equity investment, or activity, by renewal, deferment of action or otherwise, or the acceptance, release, or substitution of security therefor, shall be fined not more than $1,000,000 or imprisoned not more than 30 years, or both.". (c) USE OF LOCAL CURRENCIES. —Section 237 of such Act is amended by adding at the end the following: "(o) USE OF IXXJAL CURRENCIES. —Direct loans or investments made in order to preserve the value of funds received in inconvertible foreign currency by the Corporation as a result of activities conducted pursuant to section 234(a) shall not be considered in determining whether the Corporation has made or has outstanding loans or investmente to the extent of any limitetion on obligations and equity investment imposed by or pursuant to this title. The provisions of section 504(D) of the Federal Credit Reform Act of 1990 shall not apply to direct loan obligations made with funds described in this siibsection.". SEC. 106. DEFINITIONS. Section 238 of the Foreign Assistance Act of 1961 (22 U.S.C. 2198) is amended— (1) in subsection (c) by striking ''and" after the semicolon at the end; (2) by redesignating subsection (d) as subsection (f); and (3) by inserting alter subsection (c) the following: "(d) the term iioncredit account revolving fund' means the account in which funds under section 236 and all funds from noncredit activities are held; and

�