Page:United States Statutes at Large Volume 122.djvu/1941

 12 2 STA T . 1 9 1 8PUBLIC LA W 11 0– 2 46—J U NE 18, 2008 (3)ineachofp a r a g raph s ( 1 ), ( 2 ), an d (3), by inser t ing ‘ ‘a l l loans or in v est m ents made ’ ’ before ‘‘by’’ the first place it appears and ( 4 ) in each of paragraphs (1) and (2), by inserting ‘‘or investments’’ after ‘‘that is able to ma k es u ch loans’’ each place it appears . (e) AL L OCATI O N TO SYS T EMI NSTIT U TIONS O FEX CESS R ESE RV ES. — Section 5 .55(e) of such Act (12 U .S. C . 22 7 7a - 4(e)) is amended— (1) in paragraph (3), by striking ‘‘the average secure base amount for the calendar year (as calculated on an average daily balance basis)’’ and inserting ‘‘the secure base amount’’; (2) in paragraph (4), by striking subparagraph ( B ) and inserting the follo w ing

‘‘(B) there shall be credited to the allocated insurance reserves account of each insured system bank an amount that bears the same ratio to the total amount (less any amount credited under subparagraph (A)) as— ‘‘(i) the average principal outstanding for the cal- endar year on insured obligations issued by the bank (after deducting from the principal the percentages of the guaranteed portions of loans and investments described in subsection (a)(2)); bears to ‘‘(ii) the average principal outstanding for the cal- endar year on insured obligations issued by all insured System banks (after deducting from the principal the percentages of the guaranteed portions of loans and investments described in subsection (a)(2)).’’; and (3) in paragraph ( 6 )— (A) in subparagraph (A)— (i) in the matter preceding clause (i), by striking ‘‘beginning more’’ and all that follows through ‘‘ J anuary 1,2 0 05’’; (ii) by striking clause (i) and inserting the fol- lowing: ‘‘(i) sub j ect to subparagraph ( D ), pay to each insured System bank, in a manner determined by the Corporation, an amount e q ual to the balance in the Allocated Insurance Reserves Account of the System bank; and’’; and (iii) in clause (ii)— (I) by striking ‘‘subparagraphs (C), (E), and ( F )’’ and inserting ‘‘subparagraphs (C) and (E)’’; and (II) by striking ‘‘, of the lesser of—’’ and all that follows through the end of subclause (II) and inserting ‘‘at the time of the termination of the Financial Assistance Corporation, of the balance in the Allocated Insurance Reserves Account estab- lished under paragraph (1)(B).’’; (B) in subparagraph (C)— (i) in clause (i), by striking ‘‘(in addition to the amounts described in subparagraph (F)(ii))’’; and (ii) by striking clause (ii) and inserting the fol- lowing:

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