PUBLIC AUTHORITY TO CHARGE PREMIUMS REDUCED BY AMOUNT OF FINANCING CORPORATION ASSESSMENTS.

SEC. 305. PUBLIC AUTHORITY TO CHARGE PREMIUMS REDUCED BY AMOUNT OF FINANCING CORPORATION ASSESSMENTS. Section 404 of the National Housing Act is amended by adding at the end thereof the following new subsection: “(j) Authority To Charge Premiums Reduced by Amount of Financing Corporation Assessments.— Notwithstanding any other provision of this section, the sum of— “(1) the amount of any premium required to be paid by any insured institution under subsection (b)(1); and “(2) the amount of any premium authorized to be assessed by the Corporation under subsection (c) with respect to such institution, for any period shall be reduced by the amount of any assessment paid for such period by such insured institution to the Financing Corporation pursuant to section 21(f) of the Federal Home Loan Bank Act.”.