conforming amendments

conforming amendments Sec. 416. (a) Section 202(b)(4) of the Housing Amendments of 1955 is amended by adding before the period at the end of the second sentence “or under title IV of the Housing and Urban Development Act of 1968”. (b) The first paragraph of section 24 of the Federal Reserve Act is amended by striking out all that follows “national banking association” hi the fourth sentence and adding “may make loans or purchase obligations for land development which are secured by mortgages insured under title X of the National Housing Act or guaranteed under Title IV of the Housing and Urban Development Act of 1968.”. (c) The paragraph which, prior to the amendments made by this Act, was the next to last paragraph of section 5(c) of the Home Owners’ Loan Act of 1933 is amended by adding at the end thereof the following new sentence: “Without regard to any other provision of this subsection, an association may invest in loans or obligations, or interests therein, as to which the association has the benefit of any guaranty under title IV of the Housing and Urban Development Act of 1968, as now or hereafter in effect, or of a commitment or agreement therefor, and such investments shall not. be included in any percentage of assets or other percentage referred to in this subsection.”