Page:United States Statutes at Large Volume 110 Part 4.djvu/643

 PUBLIC LAW 104-208—SEPT. 30, 1996 110 STAT. 3009-480 institutions that the Board of Directors, in its sole discretion, determines (after taking into account the adjustments described in subsections (g), (h), and 0)) will cause the Savings Association Insurance Fund to achieve the designated reserve ratio on the first business day of the 1st month beginning after the date of the enactment of this Act. (b) FACTORS TO BE CONSIDERED. — In carrying out subsection (a), the Board of Directors shall base its determination on— (1) the monthly Savings Association Insurance Fund balance most recently calculated; (2) data on insured deposits reported in the most recent reports of condition filed not later than 70 days before the date of enactment of this Act by insured depository institutions; and (3) any other factors that the Board of Directors deems appropriate. (c) DATE OF DETERMINATION. —For purposes of subsection (a), the amount of the SAIF-assessable deposits of an insured depository institution shall be determined as of March 31, 1995. (d) DATE PAYMENT DUE. —Except as provided in subsection (g), the special assessment imposed under this section shall be— (1) due on the first business day of the 1st month beginning after the date of the enactment of this Act; and (2) paid to the Corporation on the later of— (A) the first business day of the 1st month beginning after such date of enactment; or (B) such other date as the Corporation shall prescribe, but not later than 60 days after the date of enactment of this Act. (e) ASSESSMENT DEPOSITED IN SAIF. — Notwithstanding any other provision of law, the proceeds of the special assessment imposed under this section shall be deposited in the Savings Association Insurance Fund. (f) EXEMPTIONS FOR CERTAIN INSTITUTIONS.— (1) EXEMPTION FOR WEAK INSTITUTIONS. —The Board of Directors may, by order, in its sole discretion, exempt any insured depository institution that the Board of Directors determines to be weak, from paying the special assessment imposed under this section if the Board of Directors determines that the exemption would reduce risk to the Savings Association Insurance Fund. (2) GUIDELINES REQUIRED.—Not later than 30 days after the date of enactment of this Act, the Board of Directors shall prescribe guidelines setting forth the criteria that the Board • of Directors will use in exempting institutions under paragraph (1). Such guidelines shall be published in the Federal Register. (3) EXEMPTION FOR CERTAIN NEWLY CHARTERED AND OTHER DEFINED INSTITUTIONS.— (A) IN GENERAL.— In addition to the institutions exempted from paying the special assessment under paragraph (1), the Board of Directors shall exempt any insured depository institution from payment of the special assessment if the institution— (i) was in existence on October 1, 1995, and held no SAIF-assessable deposits before January 1, 1993; (ii) is a Federal savings bank which—

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