Page:United States Statutes at Large Volume 97.djvu/1313

 PUBLIC LAW 98-181—NOV. 30, 1983 97 STAT. 1281 agency describing the means and timing by which the banking institution shall achieve its required capital level. (ii) Any such directive issued pursuant to this paragraph, includ- ing plans submitted pursuant thereto, shall be enforceable under the provisions of section 8(i) of the Federal Deposit Insurance Act to the same extent as an effective and outstanding order issued pursu- ant to section 8(b) of the Federal Deposit Insurance Act which has become final. (3)(A) Each appropriate Federal banking agency may consider such banking institution's progress in adhering to any plan required under this subsection whenever such banking institution, or an affiliate thereof, or the holding company which controls such bank- ing institution, seeks the requisite approval of such appropriate Federal banking agency for any proposal which would divert earn- ings, diminish capital, or otherwise impede such banking institu- tion's progress in achieving its minimum capital level. (B) Such appropriate Federal banking agency may deny such approval where it determines that such proposal would adversely affect the ability of the banking institution to comply with such plan. (C) The Chairman of the Board of Governors of the Federal Reserve System and the Secretary of the Treasury shall encourage governments, central banks, and regulatory authorities of other major banking countries to work toward maintaining and, where appropriate, strengthening the capital bases of banking institutions involved in international lending. 12 USC 1818. FOREIGN LOAN EVALUATIONS SEC. 909. (a)(1) In any case in which one or more banking institu- 12 USC 3908. tions extend credit, whether by loan, lease, guarantee, or otherwise, which individually or in the aggregate exceeds $20,000,000, to finance any project which has as a major objective the construction or operation of any mining operation, any metal or mineral primary processing operation, any fabricating facility or operation, or any metal-making operations (semi and finished) located outside the United States or its territories and possessions, a written economic feasibility evsduation of such foreign project shall be prepared and approved in writing by a senior official of the banking institution, or, if more than one banking institution is involved, the lead bank- ing institution, prior to the extension of such credit. (2) Such evaluation shall— (A) take into account the profit potential of the project, the impact of the project on world markets, the inherent competi- tive advantages and disadvantages of the project over the entire life of the project, and the likely effect of the project upon the overall long-term economic development of the country in which the project is located; and (B) consider whether the extension of credit can reasonably be expected to be repaid from revenues generated by such foreign project without regard to any subsidy, as defined in inter- national agreements, provided by the government involved or any instrumentality of any country. (b) Such economic feasibility evaluations shall be reviewed by Review. representatives of the appropriate Federal banking agencies when- ever an examination by such appropriate Federal banking agency is conducted. 11-194 0-85 42 QL3

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