REPAYMENT SCHEDULE.

SEC. 103. REPAYMENT SCHEDULE. (a) In General.— Section 14 of the Federal Deposit Insurance Act (12 U.S.C. 1824) is amended by adding at the end the following new subsection: “(c) Repayment Schedules Required for any Borrowing.— “(1) In general.— No amount may be provided by the Secretary of the Treasury to the Corporation under subsection (a) unless an agreement is in effect between the Secretary and the Corporation which— “(A) provides a schedule for the repayment of the outstanding amount of any borrowing under such subsection; and “(B) demonstrates that income to the Corporation from assessments under this Act will be sufficient to amortize the outstanding balance within the period established in the repayment schedule and pay the interest accruing on such balance. “(2) Consultation with and report to congress.— The Secretary of the Treasury and the Corporation shall— “(A) consult with the Committee on Banking, Finance and Urban Affairs of the House of Representatives and the Committee on Banking, Housing, and Urban Affairs of the Senate on the terms of any repayment schedule agreement described in paragraph (1) relating to repayment, including terms relating to any emergency special assessment under section 7(b)(7); and “(B) submit a copy of each repayment schedule agreement entered into under paragraph (1) to the Committee on 105 STAT. 2238Banking, Finance and Urban Affairs of the House of Representatives and the Committee on Banking, Housing, and Urban Affairs of the Senate before the end of the 30-day griod beginning on the date any amount is provided by the Secretary of the Treasury to the Corporation under subsection (a). . (b) Emergency Special Assessments.— Section 7(b) of the Federal Deposit Insurance Act (12 U.S.C. 1817(b)) is amended— (1) by redesignating paragraphs (7), (8), and (9) as paragraphs (8), (9), and (10), respectively; and (2) by inserting after paragraph (6) the following new paragraph: “(7) Emergency special assessments.— In addition to the other assessments imposed on insured depository institutions under this subsection, the Corporation may impose 1 or more special assessments on insured depository institutions in an amount determined by the Corporation if the amount of any such assessment— “(A) is necessary— “(i) to provide sufficient assessment income to repay amounts borrowed from the Secretary of the Treasury under section 14(a) in accordance with the repayment schedule in effect under section 14(c) during the period with respect to which such assessment is imposed; “(ii) to provide sufficient assessment income to repay obligations issued to and other amounts borrowed from Bhnk Insurance Fund members under section 14(d); or “(iii) for any other purpose the Corporation may deem necessary; and “(B) is allocated between Bank Insurance Fund members and Savings Association Insurance Fund members in amounts which reflect the degree to which the proceeds of the amounts borrowed are to be used for the benefit of the respective insurance funds.”.