Page:United States Statutes at Large Volume 124.djvu/1536

 124 STAT. 1510 PUBLIC LAW 111–203—JULY 21, 2010 from the proceeds of the liquidation of the covered financial company under this title; and (ii) if the amounts to be recovered on a cumulative basis under clause (i) are insufficient to meet the requirements of subparagraph (B), after taking into account the considerations set forth in paragraph (4), impose assessments on— (I) eligible financial companies; and (II) financial companies with total consolidated assets equal to or greater than $50,000,000,000 that are not eligible financial companies. (E) PROVISION OF FINANCING.—Payments or amounts necessary to initiate and continue operations essential to implementation of the receivership or any bridge financial company described in subparagraph (D)(i) shall not include the provision of financing, as defined by rule of the Corpora- tion, to third parties. (2) GRADUATED ASSESSMENT RATE.—The Corporation shall impose assessments on a graduated basis, with financial compa- nies having greater assets and risk being assessed at a higher rate. (3) NOTIFICATION AND PAYMENT.—The Corporation shall notify each financial company of that company’s assessment under this subsection. Any financial company subject to assess- ment under this subsection shall pay such assessment in accord- ance with the regulations prescribed pursuant to paragraph (6). (4) RISK-BASED ASSESSMENT CONSIDERATIONS.—In imposing assessments under paragraph (1)(D)(ii), the Corporation shall use a risk matrix. The Council shall make a recommendation to the Corporation on the risk matrix to be used in imposing such assessments, and the Corporation shall take into account any such recommendation in the establishment of the risk matrix to be used to impose such assessments. In recom- mending or establishing such risk matrix, the Council and the Corporation, respectively, shall take into account— (A) economic conditions generally affecting financial companies so as to allow assessments to increase during more favorable economic conditions and to decrease during less favorable economic conditions; (B) any assessments imposed on a financial company or an affiliate of a financial company that— (i) is an insured depository institution, assessed pursuant to section 7 or 13(c)(4)(G) of the Federal Deposit Insurance Act; (ii) is a member of the Securities Investor Protec- tion Corporation, assessed pursuant to section 4 of the Securities Investor Protection Act of 1970 (15 U.S.C. 78ddd); (iii) is an insured credit union, assessed pursuant to section 202(c)(1)(A)(i) of the Federal Credit Union Act (12 U.S.C. 1782(c)(1)(A)(i)); or (iv) is an insurance company, assessed pursuant to applicable State law to cover (or reimburse payments made to cover) the costs of the rehabilitation, liquida- tion, or other State insolvency proceeding with respect to 1 or more insurance companies; Recommenda- tion.