Page:United States Statutes at Large Volume 124.djvu/2150

 124 STAT. 2124 PUBLIC LAW 111–203—JULY 21, 2010 any amount described in section 1105(c) of the Dodd-Frank Wall Street Reform and Consumer Protection Act.’’. (e) FUNDING.— (1) FEES AND OTHER CHARGES.—The Corporation shall charge fees and other assessments to all participants in the program established pursuant to this section, in such amounts as are necessary to offset projected losses and administrative expenses, including amounts borrowed pursuant to paragraph (3), and such amounts shall be available to the Corporation. (2) EXCESS FUNDS.—If, at the conclusion of the program established under this section, there are any excess funds col- lected from the fees associated with such program, the funds shall be deposited in the General Fund of the Treasury. (3) AUTHORITY OF CORPORATION.—The Corporation— (A) may borrow funds from the Secretary of the Treasury and issue obligations of the Corporation to the Secretary for amounts borrowed, and the amounts borrowed shall be available to the Corporation for purposes of car- rying out a program established pursuant to this section, including the payment of reasonable costs of administering the program, and the obligations issued shall be repaid in full with interest through fees and charges paid by participants in accordance with paragraphs (1) and (4), as applicable; and (B) may not borrow funds from the Deposit Insurance Fund established pursuant to section 11(a)(4) of the Federal Deposit Insurance Act. (4) BACKUP SPECIAL ASSESSMENTS.—To the extent that the funds collected pursuant to paragraph (1) are insufficient to cover any losses or expenses, including amounts borrowed pursuant to paragraph (3), arising from a program established pursuant to this section, the Corporation shall impose a special assessment solely on participants in the program, in amounts necessary to address such insufficiency, and which shall be available to the Corporation to cover such losses or expenses. (5) AUTHORITY OF THE SECRETARY.—The Secretary may purchase any obligations issued under paragraph (3)(A). For such purpose, the Secretary may use the proceeds of the sale of any securities issued under chapter 31 of title 31, United States Code, and the purposes for which securities may be issued under that chapter 31 are extended to include such purchases, and the amount of any securities issued under that chapter 31 for such purpose shall be treated in the same manner as securities issued under section 208(n)(5)(E). (f) RULE OF CONSTRUCTION.—For purposes of this section, a guarantee of deposits held by insured depository institutions shall not be treated as a debt guarantee program. (g) DEFINITIONS.—For purposes of this section, the following definitions shall apply: (1) COMPANY.—The term ‘‘company’’ means any entity other than a natural person that is incorporated or organized under Federal law or the laws of any State. (2) DEPOSITORY INSTITUTION HOLDING COMPANY.—The term ‘‘depository institution holding company’’ has the same meaning as in section 3 of the Federal Deposit Insurance Act (12 U.S.C. 1813). (3) LIQUIDITY EVENT.—The term ‘‘liquidity event’’ means—