Page:United States Statutes at Large Volume 101 Part 1.djvu/624

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PUBLIC LAW 100-000—MMMM. DD, 1987

101 STAT. 594

PUBLIC LAW 100-86—AUG. 10, 1987

Michigan.

"(G) ADDITIONAL PROVISION.—Notwithstanding any other provision of law, the Federal Savings and Loan Insurance Corporation shall repay to Comerica, Inc. of Detroit, Michigan, an amount equal to any exit fee or equivalent thereof paid by Comerica, Inc. "(5) PAYMENT TO FINANCING CORPORATION.—All assessments assessed by the Financing Corporation under paragraph (1), (2), or (4) shall be paid to the Financing Corporation. "(g) USE AND DISPOSITION OF ASSETS OF THE FINANCING CORPORATION NOT INVESTED IN F S L I C —

Post, p. 597.

12 USC 1454, 1455.

"(1) IN GENERAL.—Subject to such regulations, restrictions, and limitations as may be prescribed by the Board, assets of the Financing Corporation, which are not invested in capital certificates or capital stock issued by the Federal Savings and Loan Insurance Corporation under section 402(b)(1)(A) of the National Housing Act, shall be invested in— "(A) direct obligations of the United States; -rt «(g) obligations, participations, or other instruments of, or issued by, the Federal National Mortgage Association or the Government National Mortgage Association; "(C) mortgages, obligations, or other securities for sale by, ^ ' ' or which have been disposed of by, the Federal Home Loan Mortgage Corporation under section 305 or 306 of the Federal Home Loan Mortgage Corporation Act; or "(D) any other security in which it is lawful for fiduciary and trust funds to be invested under the laws of any State. ^

"(2) SEGREGATED ACCOUNT FOR ZERO COUPON INSTRUMENTS HELD TO ASSURE PAYMENT OF PRINCIPAL.—The Financing Cor-

poration shall invest in, and hold in a segregated account, noninterest bearing instruments— "(A) which are securities described in paragraph (1); and " "(B) the total of the face amounts (the amount of principal payable at maturity) of which is approximately equal ^^^,,, to the aggregate amount of principal on the obligations of ^•>x-. i ^jjg Financing Corporation, to assure the repayment of principal on obligations of the Financing Corporation. "(3)

DOLLAR AMOUNT LIMITATION ON INVESTMENT IN ZERO

COUPON INSTRUMENTS FOR SEGREGATED ACCOUNT.—The aggregate amount invested by the Financing Corporation under paragraph (2) shall not exceed $2,200,000,000 (as determined on the basis of the purcheise price). "(4) EXCEPTION FOR PAYMENT OF ISSUANCE COSTS, INTEREST,

AND CUSTODIAN FEES.—Notwithstanding the requirements of I paragraph (1), the assets of the Financing Corporation referred to in paragraph (1) which are not invested under paragraph (2) may be used to pay— "(A) issuance costs; "(B) any interest on (and any redemption premium with respect to) any obligation of the Financing Corporation; and "(C) custodian fees. "(5) DEFINITIONS.—For purposes of this subsection— "(A) ISSUANCE COSTS.—The term 'issuance costs'— "(i) means issuance fees and commissions incurred by the Financing Corporation in connection with the issu-