permitted under subsection (B) of section 4 of such Guideline. (iii) Financial guaranty exposure For purposes of this subparagraph, the term financial guaranty exposure means the ratio of— (I) the net debt service outstanding insured or reinsured by the company that is within the single risk limits set forth in the Financial Guaranty Insurance Guideline (as reported on such company’s applicable financial statement), to (II) the company’s total assets (as so reported). (iv) Financial Guaranty Insurance Guideline For purposes of this subparagraph, the term Financial Guaranty Insurance Guideline means the October 2008 model regulation that was adopted by the National Association of Insurance Commissioners on December 4, 2007. . (b) Reporting of certain items Section 1297(f)(4) of such Code is amended by adding at the end the following new subparagraph: (C) Clarification that certain items on applicable financial statement be separately reported with respect to corporation An amount described in paragraph (1)(B) or clause (i)(II), (i)(III), (iii)(I), or (iii)(II) of paragraph (3)(C) shall not be treated as reported on an applicable financial statement for purposes of this section unless such amount is separately reported on such statement with respect to the corporation referred to in paragraph (1). (D) Authority of Secretary to require reporting (i) In general Each United States person who owns an interest in a specified non-publicly traded foreign corporation and who takes the position that such corporation is not a passive foreign investment company shall report to the Secretary such information with respect to such corporation as the Secretary may require. (ii) Specified non-publicly traded foreign corporation For purposes of this subparagraph, the term specified non-publicly traded foreign corporation means any foreign corporation— (I) which would be a passive foreign investment company if subsection (b)(2)(B) did not apply, and (II) no interest in which is traded on an established securities market. . (c)