Page:United States Statutes at Large Volume 124.djvu/1533

 124 STAT. 1507 PUBLIC LAW 111–203—JULY 21, 2010 interest rate surcharge to be determined by the Secretary, which shall be greater than the difference between— (i) the current average rate on an index of cor- porate obligations of comparable maturity; and (ii) the current average rate on outstanding marketable obligations of the United States of com- parable maturity. (D) SECRETARY AUTHORIZED TO SELL OBLIGATIONS.— The Secretary may sell, upon such terms and conditions as the Secretary shall determine, any of the obligations acquired under this paragraph. (E) PUBLIC DEBT TRANSACTIONS.—All purchases and sales by the Secretary of such obligations under this para- graph shall be treated as public debt transactions of the United States, and the proceeds from the sale of any obliga- tions acquired by the Secretary under this paragraph shall be deposited into the Treasury of the United States as miscellaneous receipts. (6) MAXIMUM OBLIGATION LIMITATION.—The Corporation may not, in connection with the orderly liquidation of a covered financial company, issue or incur any obligation, if, after issuing or incurring the obligation, the aggregate amount of such obliga- tions outstanding under this subsection for each covered finan- cial company would exceed— (A) an amount that is equal to 10 percent of the total consolidated assets of the covered financial company, based on the most recent financial statement available, during the 30-day period immediately following the date of appointment of the Corporation as receiver (or a shorter time period if the Corporation has calculated the amount described under subparagraph (B)); and (B) the amount that is equal to 90 percent of the fair value of the total consolidated assets of each covered financial company that are available for repayment, after the time period described in subparagraph (A). (7) RULEMAKING.—The Corporation and the Secretary shall jointly, in consultation with the Council, prescribe regulations governing the calculation of the maximum obligation limitation defined in this paragraph. (8) RULE OF CONSTRUCTION.— (A) IN GENERAL.—Nothing in this section shall be con- strued to affect the authority of the Corporation under subsection (a) or (b) of section 14 or section 15(c)(5) of the Federal Deposit Insurance Act (12 U.S.C. 1824, 1825(c)(5)), the management of the Deposit Insurance Fund by the Corporation, or the resolution of insured depository institutions, provided that— (i) the authorities of the Corporation contained in this title shall not be used to assist the Deposit Insurance Fund or to assist any financial company under applicable law other than this Act; (ii) the authorities of the Corporation relating to the Deposit Insurance Fund, or any other responsibil- ities of the Corporation under applicable law other than this title, shall not be used to assist a covered financial company pursuant to this title; and Determination.