Political Quotes

“Mr. Chairman, I have an amendment at the desk made in order under the rule. The CHAIR. The Clerk will designate the amendment. The text of the amendment is as follows: Amendment No. 5 offered by Mr. Perlmutter: Add at the end of title I the following new section: SEC. 14. TEMPORARY AMORTIZATION AUTHORITY. (a) Purpose.--The purpose this section is to address the ongoing effects of the financial crisis on small businesses by providing temporary authority to amortize losses or write-downs in order to increase the availability of credit for small businesses. (b) In General.--For purposes of capital calculation under the Financial Institutions Examination Council's Consolidated Reports of Condition, an eligible institution may choose to amortize any loss or write-down, on a quarterly straight line basis over a period determined under subsection (c), beginning with the month in which such loss or write-down occurs, resulting from the application of FASB Statement 114 or 144 to-- (1) other real estate owned (as defined under section 34.81 of title 12, Code of Federal Regulation), or (2) an impared loan secured by real estate, provided that the institution discloses the difference in the amount of the institution's capital, when calculated taking into account the temporary amortization, from the amount of the institution's capital when calculated without taking into account the temporary amortization on the Financial Institutions Examination Council's Consolidated Reports of Conditio…”