AMENDMENTS RELATED TO SECTION 302 OF THE 1987 ACT.

SEC. 302. AMENDMENTS RELATED TO SECTION 302 OF THE 1987 ACT. (a) Subparagraphs (A) and (B) of section 5.51(3) are amended to read as follows: “(A) on or before January 5, 1989, on behalf of any System bank; and “(B) after such date, which, when issued, is issued on behalf of any insured System bank.” (b) Section 5.51(5) is amended by striking out “to liquidate” and inserting in lieu thereof “for”. (c) Section 5.55(d) is amended by striking out “loans made by a Federal intermediate credit bank” and inserting in lieu thereof “intermediate term loans made by a Farm Credit Bank”. (d) Section 5.55(d)(2) is amended by striking out “2.3(a)(2)” and inserting in lieu thereof “1.7(b)(1)(B)”. (e) Paragraphs (2) and (3) of section 5.55(d) are each amended by striking out “Federal intermediate credit bank” and inserting in lieu thereof “Farm Credit Bank”. (f) Section 5.56(a) is amended by striking out “of such” and inserting in lieu thereof “of the”. (g) Section 5.57(b)(1) is amended— (1) by striking out “made any report of condition required under section 5.55 or”; and (2) by striking out “make any such report or”. (h) Section 5.57(b)(2) is amended by striking out “made or”. (i) Section 5.58(5)(A) is amended by striking out “to” each place it appears. (j) Section 5.60(b)(1) is amended by striking out “(in effect immediately before the date of the enactment of this part)”. (k) Section 5.60(b)(2) is amended by striking out “Beginning 5 years after the date of the enactment of this part, the” and inserting in lieu thereof “The”. (l) Section 5.60(c)(2)(B) is amended to read as follows: “(B) ensure the retirement of eligible borrower stock at par value under section 4.9A.”.