Exchange risk premium exemption shields public financial institutions' income when credited to a specified fund, taxation follows on sharing. A new exemption treats income received by a public financial institution as exchange risk premium as tax-exempt when credited to a designated Exchange Risk Administration Fund; the Fund's income is likewise treated as exempt, but any amount of the Fund later shared with a public financial institution is deemed the recipient's income and taxed in the year of sharing. Definitions for public financial institution and exchange risk premium are supplied by cross-reference.