PARRIS N. GLENDENING, Governor

Ch. 127

1. THE RECEIPTS FACTOR SHALL INCLUDE THE AMOUNT BY
WHICH INTEREST FROM FEDERAL FUNDS SOLD AND SECURITIES PURCHASED
UNDER RESALE AGREEMENTS EXCEEDS INTEREST EXPENSE ON FEDERAL FUNDS
PURCHASED AND SECURITIES SOLD UNDER REPURCHASE AGREEMENTS.

2. THE RECEIPTS FACTOR SHALL INCLUDE THE AMOUNT BY
WHICH INTEREST, DIVIDENDS, GAINS AND OTHER INCOME FROM TRADING ASSETS
AND ACTIVITIES, INCLUDING BUT NOT LIMITED TO ASSETS AND ACTIVITIES IN THE
MATCHED BOOK, IN THE ARBITRAGE BOOK, AND FOREIGN CURRENCY
TRANSACTIONS, EXCEED AMOUNTS PAID IN LIEU OF INTEREST, AMOUNTS PAID IN
LIEU OF DIVIDENDS, AND LOSSES FROM SUCH ASSETS AND ACTIVITIES.

(II) THE NUMERATOR OF THE RECEIPTS FACTOR INCLUDES
INTEREST, DIVIDENDS, NET GAINS (BUT NOT LESS THAN ZERO) AND OTHER INCOME
FROM INVESTMENT ASSETS AND ACTIVITIES AND FROM TRADING ASSETS AND
ACTIVITIES DESCRIBED IN SUBPARAGRAPH (I) OF THIS PARAGRAPH THAT ARE
ATTRIBUTABLE TO THIS STATE.

1. THE AMOUNT OF INTEREST, DIVIDENDS, NET GAINS (BUT
NOT LESS THAN ZERO) AND OTHER INCOME FROM INVESTMENT ASSETS AND
ACTIVITIES IN THE INVESTMENT ACCOUNT TO BE ATTRIBUTED TO THIS STATE AND
INCLUDED IN THE NUMERATOR IS DETERMINED BY MULTIPLYING ALL SUCH
INCOME FROM SUCH ASSETS AND ACTIVITIES BY A FRACTION, THE NUMERATOR OF
WHICH IS THE AVERAGE VALUE OF SUCH ASSETS WHICH ARE PROPERLY ASSIGNED
TO A REGULAR PLACE OF BUSINESS OF THE FINANCIAL INSTITUTION WITHIN THIS
STATE AND THE DENOMINATOR OF WHICH IS THE AVERAGE VALUE OF ALL SUCH
ASSETS.

2. THE AMOUNT OF INTEREST FROM FEDERAL FUNDS SOLD
AND PURCHASED AND FROM SECURITIES PURCHASED UNDER RESALE
AGREEMENTS AND SECURITIES SOLD UNDER REPURCHASE AGREEMENTS
ATTRIBUTABLE TO THIS STATE AND INCLUDED IN THE NUMERATOR IS
DETERMINED BY MULTIPLYING THE AMOUNT DESCRIBED IN ITEM 1 OF
SUBPARAGRAPH (I) OF THIS PARAGRAPH FROM SUCH FUNDS AND SUCH SECURITIES
BY A FRACTION, THE NUMERATOR OF WHICH IS THE AVERAGE VALUE OF FEDERAL
FUNDS SOLD AND SECURITIES PURCHASED UNDER AGREEMENTS TO RESELL WHICH
ARE PROPERLY ASSIGNED TO A REGULAR PLACE OF BUSINESS OF THE FINANCIAL
INSTITUTION WITHIN THIS STATE AND THE DENOMINATOR OF WHICH IS THE
AVERAGE VALUE OF ALL SUCH FUNDS AND SUCH SECURITIES.

3. THE AMOUNT OF INTEREST, DIVIDENDS, GAINS AND
OTHER INCOME FROM TRADING ASSETS AND ACTIVITIES, INCLUDING BUT NOT
LIMITED TO ASSETS AND ACTIVITIES IN THE MATCHED BOOK, IN THE ARBITRAGE
BOOK AND FOREIGN CURRENCY TRANSACTIONS, (BUT EXCLUDING AMOUNTS
DESCRIBED IN ITEMS 1 AND 2 OF THIS SUBPARAGRAPH), ATTRIBUTABLE TO THIS
STATE AND INCLUDED IN THE NUMERATOR IS DETERMINED BY MULTIPLYING THE
AMOUNT DESCRIBED IN ITEM 2 OF SUBPARAGRAPH (I) OF THIS PARAGRAPH BY A
FRACTION, THE NUMERATOR OF WHICH IS THE AVERAGE VALUE OF SUCH TRADING
ASSETS WHICH ARE PROPERLY ASSIGNED TO A REGULAR PLACE OF BUSINESS OF

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