105 STAT. 2274 PUBLIC LAW 102-242—DEC. 19, 1991 the Corporation to provide insurance coverage for the insured deposits in such institution; and "(ii) the total amount of the expenditures by the Corporation and obligations incurred by the Corporation (including any immediate and long-term obligation of the Corporation and any direct or contingent liability for future payment by the Corporation) in connection with the exercise of any such authority with respect to such institution is the least costly to the deposit insurance fund of all possible methods for meeting the Corporation's obligation under this section. "(B) DETERMINING LEAST COSTLY APPROACH. —In determining how to satisfy the Corporation's obligations to an institution's insured depositors at the least possible cost to the deposit insurance fund, the Corporation shall comply with the following provisions: "(i) PRESENT-VALUE ANALYSIS; DOCUMENTATION REQUIRED. —The Corporation shall— "(I) evaluate alternatives on a present-value basis, using a realistic discount rate; "(II) document that evaluation and the assumptions on which the evaluation is based, including any assumptions with regard to interest rates, asset recovery rates, asset holding costs, and pay- ment of contingent liabilities; and "(III) retain the documentation for not less than 5 years, "(ii) FOREGONE TAX REVENUES.— Federal tax revenues that the Government would forego as the result of a proposed transaction, to the extent reasonably ascertainable, shall be treated as if they were revenues foregone by the deposit insurance fund. " (C) TIME OF DETERMINATION.— "(i) GENERAL RULE. —For purposes of this subsection, the determination of the costs of providing any assistance under paragraph (1) or (2) or any other provision of this section with respect to any depository institution shall be made as of the date on which the Corporation makes the determination to provide such assistance to the institution under this section. "(ii) RULE FOR LIQUIDATIONS. —For purposes of this subsection, the determination of the costs of liquidation of any depository institution shall be made as of the earliest of— "(I) the date on which a conservator is appointed for such institution; "(II) the date on which a receiver is appointed for such institution; or "(III) the date on which the Corporation makes any determination to provide any assistance under this section with respect to such institution. "(D) LIQUIDATION COSTS.— In determining the cost of liquidating any depository institution for the purpose of comparing the costs under subparagraph (A) (with respect to such institution), the amount of such cost may not exceed the amount which is equal to the sum of the insured deposits of such institution as of the earliest of the dates
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