12 U.S. Code § 2278b–8 - Payments
Beginning in fiscal year 1989, the Secretary of the Treasury shall reimburse the Financial Assistance Corporation for any amounts such Corporation pays in interest charges under section 2278b–6(c) of this title during fiscal year 1988, and thereafter the Secretary shall pay the Financial Assistance Corporation any amounts due from the Secretary to such Corporation under section 2278b–6(c) of this title.
There is authorized to be appropriated to the Secretary of the Treasury such sums on an annual basis as may be necessary to carry out this part.
1992—Subsecs. (b), (c). Pub. L. 102–552 redesignated subsec. (c) as (b) and struck out former subsec. (b) which read as follows:
“(b) Repayment of Interest Paid by Secretary of the Treasury.—
“(1) In general.—Any amounts paid into the Assistance Fund by the Secretary of the Treasury pursuant to subsection (a) of this section exceeding $2,000,000,000 shall be repaid by System institutions in accordance with a schedule to be established by the Farm Credit Administration Board.
“(2) Allocation.—Until such repayment is completed, each System institution shall pay a proportionate share of the amount due under paragraph (1) equal to—
“(A) the amount of the performing loan volume of the institution, determined in accordance with section 2278b–6(c)(2)(D) of this title (based on the average loan volume for the preceding year); divided by
“(B) the total performing loan volume of the System for the preceding year.”
1988—Subsec. (b)(2). Pub. L. 100–399 in introductory provision substituted “paragraph (1) equal” for “this paragraph” and in subpar. (A) substituted “section 2278b–6(c)(2)(D) of this title” for “subsection (c)(1)(D) of this section”.
LII has no control over and does not endorse any external Internet site that contains links to or references LII.