Page:United States Statutes at Large Volume 106 Part 5.djvu/475

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PUBLIC LAW 102-552—OCT. 28, 1992 106 STAT. 4113 Assistance Corporation against the estate of any bank undergoing liquidation.

    • (ii) No ANTICIPATORY REDUCTIONS IN OTHER

OBLIGATIONS. —The obligations of other banks shall not be reduced in anticipation of any recoveries under this subparagraph from banks leaving the System or in liquidation. "(iii) REFUND OF RECOVERIES. —The Financial Assistance Corporation shall apply the recoveries, when received, and all earnings on the recoveries, to reduce the other banks' payment obligations, or, to the extent the recoveries are received after the other banks have met their entire payment obligation, shall refund the recoveries, when received, to the other banks in proportion to the other banks' payments. "(F) ASSOCIATIONS TERMINATING SYSTEM STATUS OR IN LiQinDATlON. —Any association terminating System status pursuant to section 7.10 shall be required, under regulations of the Farm Credit Administration, to pay to its supervising bank a share, based on the association's retail loan volume relative to the retail loan volume of the bank and its afiiliated associations had the association remained in the System, of the estimated present value of all future such assessments against the bank. A liability to the bank in this amount (caicidated as if the association had left the System on the date it was placed in Uquidation) shall be recognized as a claim in favor of the bank against the estate of any association undergoing liquidation. " (G) CAPITAL REQUIREMENTS. — "(i) IN GENERAL.— Until the date that is 5 years prior to the date on which the Financial Assistance Corporation is required to repay the Secretary of the Treasury pursuant to subparagraph (A), all assessments paid by banks to the Financial Assistance Corporation pursuant to subparagraph (B), and any part of the obligation to pay future assessments to the Financial Assistance Corporation under subparagraph (B) that is recognized as an expense on the books of any Svstem bank or association, shall nonetheless be included in the capital of the bank or association for purposes of determining its compliance with regulatory capital requirements.

    • (ii) DURING THE FINAL 5 YEARS PRIOR TO REPAY-

MENT. — During the— "(I) period beginning 5 years, and ending 4 years, prior to the date on which the Financial Assistance Corporation is required to repay the Secretary of the Treasury piirsuant to subparagraph (A), 60 percent; "(11) period beginning 4 years, and ending 3 years, prior to the date on which the Financial Assistance Corporation is required to repay the Secretary of the Treasury pursuant to subparagraph (A), 30 percent; and "(III) period beginning 3 years prior to the date on which the Financial Assistance Corpora-