Page:United States Statutes at Large Volume 103 Part 1.djvu/236

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103 STAT. 208 PUBLIC LAW 101-73—AUG. 9, 1989 . ^\ Fund the investment income earned by the Bank ^ -.,1 . Insurance Fund on such Supplemental Reserves in t,, ^|«' the preceding calendar quarter; ,,^ "(III) distribute such Earnings Participation Ac- count at the conclusion of each calendar year to Bank Insurance Fund members; and j.j^jj- "(IV) distribute such Supplemental Reserves to Bank Insurance Fund members if and to the extent ,' . £., » the Corporation determines that such Supple- r. ^ mental Reserves are not needed to satisfy the pro- jected designated reserve ratio for the next succeeding calendar year. .,, "(iv) The Board of Directors shall— "(I) maintain reserves in the Savings Association Insurance Fund received pursuant to clause (iiXH) C., ,. as Supplemental Reserves in the Savings Associa- .;K tion Insurance Fund; Securities. _ ,1^ "(II) allocate each calendar quarter to an Earn- ings Participation Account in the Savings Associa- ,J , r tion Insurance Fund the investment income earned by the Savings Association Insurance Fund on such Supplemental Reserves in the preceding calendar quarter; "(III) distribute such Earnings Participation Ac- count at the conclusion of each calendar year to . ,-; Savings Association Insurance Fund members; and .^J "(IV) distribute such Supplemental Reserves to '""- .,; 'l~. Savings Association Insurance Fund members if and to the extent the Corporation determines that such Supplemental Reserves are not needed to satisfy the projected designated reserve ratio for the next succeeding calendar year. "(C) ASSESSMENT RATE FOR BANK INSURANCE FUND MEM- ,,,, BERS. —The annual assessment rate for Bank Insurance Fund members shall be— ., "(i) until December 31, 1989, Viz of 1 percent; "(ii) from January 1, 199(), through December 31, ,. .. 1990, 0.12 percent; "(iii) on and after January 1, 1991, 0.15 percent; ^. "(iv) on January 1 of a calendar year in which the reserve ratio of the Bank Insurance Fund is expected to be less than the designated reserve ratio by determina- ,, tion of the Board of Directors, such rate determined by 'J,. the Board of Directors to be appropriate to restore the .^ reserve ratio to the designated reserve ratio within a ^^ reasonable period of time, after taking into consider- ation the expected operating expenses, Case resolution j^." ^ expenditures, and investment income of the Bank -s •.r Insurance Fund, and the impact on insured bank earn- ings and capitalization, except that— "(I) from the date of the enactment of the Finan- cial Institutions Reform, Recovery, and Enforce- - ,, ment Act of 1989 until the earlier of January 1,

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1995, or January 1 of the calendar year in which . .7, the Bank Insurance Fund reserve ratio is expected ^,,- ,,,. ^.r to first attain the designated reserve ratio, the rate

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shall be as specified in clauses (i), (ii), and (iii) of