Page:United States Statutes at Large Volume 122.djvu/1178

 12 2 STA T . 11 5 5 PUBLIC LA W 11 0– 2 34—M A Y 22, 200 8‘ ‘ (A)theav e r a g e ou t s ta ndi ng insured o bl igations issued b y the ban kf or the c alendar year , after deducting fro m the obligations the p ercentages of the guaranteed portions of loans and investments described in paragraph ( 2 ), multi - plied by 0. 0020 and ‘‘( B ) the product obtained by multiplying — ‘‘(i) the sum of— ‘‘( I ) the average principal outstanding for the calendar year on loans made by the bank that are in nonaccrual status; and ‘‘(II) the average amount outstanding for the calendar year of other-than-temporarily impaired investments made by the bank; by ‘‘(ii) 0.00 1 0. ’ ’; (2) by striking paragraph ( 4 ); ( 3 ) by redesignating paragraphs (2) and (3) as paragraphs (3) and (4), respectively; (4) by inserting after paragraph (1) the follo w ing

‘‘(2) DEDUCTIONSFR O MAV ERA G E OUTSTANDING INSURED O BL IGATIONS.— T he average outstanding insured obligations issued by the bank for the calendar year referred to in para- graph (1)(A) shall be reduced by deducting from the obligations the sum of (as determined by the C orporation)— ‘‘(A) 9 0 percent of each of— ‘‘(i) the average principal outstanding for the cal- endar year on the guaranteed portions of F ederal government-guaranteed loans made by the bank that are in accrual status; and ‘‘(ii) the average amount outstanding for the cal- endar year of the guaranteed portions of Federal government-guaranteed investments made by the bank that are not permanently impaired; and ‘‘(B) 8 0 percent of each of— ‘‘(i) the average principal outstanding for the cal- endar year on the guaranteed portions of S tate govern- ment-guaranteed loans made by the bank that are in accrual status; and ‘‘(ii) the average amount outstanding for the cal- endar year of the guaranteed portions of State govern- ment-guaranteed investments made by the bank that are not permanently impaired.’’; ( 5 ) in paragraph (3) (as so redesignated by paragraph (3) of this subsection), by striking ‘‘annual’’; and ( 6 ) in paragraph (4) (as so redesignated by paragraph (3) of this subsection)— (A) in the paragraph heading, by inserting ‘‘OR INVEST- MENTS’’ after ‘‘LOANS’’ ; and (B) in the matter preceding subparagraph (A), by striking ‘‘As used’’ and all that follows through ‘‘guaran- teed—’’ and inserting ‘‘In this section, the term ‘govern- ment-guaranteed’, when applied to a loan or an investment, means a loan, credit, or investment, or portion of a loan, credit, or investment, that is guaranteed—’’. (b) AMOUNT IN FUND EX CEEDING SECURE BASE AMOUNT.—Sec- tion 5.55(b) of such Act (12 U .S.C. 22 7 7a-4(b)) is amended by striking ‘‘annual’’.

�