12 2 STA T . 11 56PUBLIC LA W 11 0– 2 34—M A Y 22 , 200 8(c)SECUR E BAS E AMO U NT.— S e c tion5 .55(c) o fsu c h Act ( 12U .S. C .22 7 7 a-4 (c)) is a m en d ed— (1) by st r i k in g‘ ‘ F or p urposes ’ ’ and inserting the fo l lo w ing
‘‘(1) I N G ENERA L .—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) A DJ 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 go v ernment-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 ETERM I NATION O FL OAN AND IN V ESTMENT 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— ’’; (3) in each of paragraphs (1), (2), and (3), by inserting ‘‘all loans or investments made’’ before ‘‘by’’ the first place it appears; and (4) in each of paragraphs (1) and (2), by inserting ‘‘or investments’’ after ‘‘that is able to make such loans’’ each place it appears. (e) ALLOCATION TO S Y STEM INSTITUTIONS OF EX CESS R ESERVES.—Section 5.55(e) of such Act (12 U.S.C. 2277a-4(e)) is amended— (1) in paragraph (3), by striking ‘‘the average secure base amount for the calendar year (as calculated on an average daily balance basis)’’ and inserting ‘‘the secure base amount’’; (2) in paragraph (4), by striking subparagraph (B) and inserting the following: ‘‘(B) there shall be credited to the allocated insurance reserves account of each insured system bank an amount that bears the same ratio to the total amount (less any amount credited under subparagraph (A)) as— ‘‘(i) the average principal outstanding for the cal- endar year on insured obligations issued by the bank
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