PUBLIC LAW 102-242—DEC. 19, 1991 105 STAT. 2381 Subtitle G—Qualified Thrift Lender Test gnlStJorm Improvements Act of 1991 SEC. 436. SHORT TITLE. 12 USC 1461 This subtitle may be cited as the "QuaHfied Thrift Lender Reform Act of 1991". SEC. 437. ADJUSTMENT OF COMPLIANCE PERIODS FOR PURPOSES OF QUALIFIED THRIFT LENDER TEST. Section 10(m)(l)(B) of the Home Owners' Loan Act (12 U.S.C. 1467a(m)(l)(B)) (as in effect on July 1, 1991) is amended to read as follows: "(B) the savings association's qualified thrift investments continue to equal or exceed 65 percent of the savings association's portfolio assets on a monthly average basis in 9 out of every 12 months.". SEC. 438. INCREASE IN AMOUNT OF LIQUID ASSETS EXCLUDABLE FROM PORTFOLIO ASSETS. Section 10(m)(4)(B)(iii) of the Home Owners' Loan Act (12 U.S.C. 1467a(m)(4)(B)(iii)) (as in effect on July 1, 1991) is amended by striking "10 percent" and inserting "20 percent". SEC. 439. ADDITIONAL INVESTMENTS INCLUDED IN DEFINITION OF QUALIFIED THRIFT ASSETS. Section 10(m)(4)(C) of the Home Owners' Loan Act (12 U.S.C. 1467a(m)(4)(C)) (as in effect on July 1, 1991) is amended— (1) by adding at the end of clause (ii) the following new subclause: "(VI) Shares of stock issued by any Federal home loan bank."; and (2) by adding at the end of clause (iii) the following new subclause: "(VII) Shares of stock issued by the Federal Home Loan Mortgage Corporation or the Federal National Mortgage Association.". SEC. 440. PRUDENT DIVERSIFICATION OF ASSETS. (a) IN GENERAL. — Section 10(m)(4)(C)(iii)(VI) of the Home Owners' Loan Act (12 U.S.C. 1467a(m)(4)(C)(iii)(VI)) (as in effect on July 1, 1991) is amended by striking "5 percent" and inserting "10 percent". (b) TECHNICAL AND CONFORMING AMENDMENT.— Section 10(m)(4)(C)(iv) of the Home Owners' Loan Act (12 U.S.C. 1467a(m)(4)(C)(iv)) (as in effect on July 1, 1991) is amended by striking "15 percent" and inserting "20 percent". SEC. 441. CONSUMER LENDING BY FEDERAL SAVINGS ASSOCIATIONS. (a) PERCENTAGE ADJUSTMENT.— Section 5(c)(2)(D) of the Home Owners' Loan Act (12 U.S.C. 1464(c)(2)(D)) is amended in the second sentence by striking "30 percent" and inserting "35 percent". (b) LOANS TO ORIGINAL OBLIGOR.— Section 5(c)(2)(B) of the Home Owners' Loan Act (12 U.S.C. 1464(c)(2)(B)) is amended by inserting before the period at the end the following: ", provided however, that no amount in excess of 30 percent of the assets may be invested in loans made directly by the association to the original obligor, and
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