12 2 STA T . 1 9 1 7PUBLIC LA W 11 0– 2 46—J U NE 1 8, 2008 ‘ ‘ (i i )theav e r a g ea moun t out s tan d ing f or the c a l- endar y ear of the guaranteed p ortions of S tate govern- ment-guaranteed investments made b y the ban k that are not permanently impaired .’ ’
( 5 ) in paragraph ( 3 ) (as so redesignated by paragraph (3) of this subsection) , by striking ‘‘annual’’; and ( 6 ) in paragraph ( 4 ) (as so redesignated by paragraph (3) of this subsection) — ( A ) in the paragraph heading, by inserting ‘‘ ORINVEST - M ENTS’’ after ‘‘ L O A NS’’ ; and ( B ) in the matter preceding subparagraph (A), by striking ‘‘As used’’ and all that follo w s through ‘‘guaran- teed—’’ and inserting ‘‘ I n this section, the term ‘govern- ment-guaranteed’, when applied to a loan or an investment, means a loan, credit, or investment, or portion of a loan, credit, or investment, that is guaranteed—’’. (b) AMO U NT IN F UN DEXC EEDIN G SECURE BASE AMOUNT.—Sec- tion 5.55(b) of such Act ( 12U .S. C . 22 7 7a-4(b)) is amended by striking ‘‘annual’’. (c) SECURE BASE AMOUNT.—Section 5.55(c) of such Act (12 U.S.C. 2277a-4(c)) is amended— (1) by striking ‘‘For purposes’’ and inserting the following
‘‘(1) IN GENERAL.—For purposes’’; (2) by striking ‘‘(ad j usted downward’’ and all that follows through ‘‘by the Corporation)’’ and inserting ‘‘(as adjusted under paragraph (2))’’; and (3) by adding at the end the following: ‘‘(2) AD J USTMENT.— T he aggregate outstanding insured obligations of all insured System banks under paragraph (1) shall be adjusted downward to e x clude an amount e q ual to the sum of (as determined by the corporation)— ‘‘(A) 90 percent of each of— ‘‘(i) the guaranteed portions of principal out- standing on Federal government-guaranteed loans in accrual status made by the banks; and ‘‘(ii) the guaranteed portions of the amount of Fed- eral government-guaranteed investments made by the banks that are not permanently impaired; and ‘‘(B) 8 0 percent of each of— ‘‘(i) the guaranteed portions of principal out- standing on State government-guaranteed loans in accrual status made by the banks; and ‘‘(ii) the guaranteed portions of the amount of State government-guaranteed investments made by the banks that are not permanently impaired.’’. (d) D ETERMINATION O FL OAN AND INVESTMENT AMOUNTS.—Sec- tion 5.55(d) of such Act (12 U.S.C. 2277a-4(d)) is amended— (1) in the subsection heading, by striking ‘‘ P RINCI P AL O UT- STANDING’’ and inserting ‘‘LOAN AND INVESTMENT AMOUNTS’’; (2) in the matter preceding paragraph (1), by striking ‘‘For the purpose’’ and all that follows through ‘‘made—’’ and inserting ‘‘For the purpose of subsections (a) and (c), the prin- cipal outstanding on all loans made by an insured System bank, and the amount outstanding on all investments made by an insured System bank, shall be determined based on— ’’;
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