[Congressional Bills 103th Congress]
[From the U.S. Government Publishing Office]
[H.R. 3524 Introduced in House (IH)]

103d CONGRESS
  1st Session
                                H. R. 3524

  To amend the Federal Deposit Insurance Act to permit the continued 
 insurance of deposits in minority- and women-owned banks by the Bank 
                 Deposit Financial Assistance Program.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                           November 17, 1993

Ms. Eddie Bernice Johnson of Texas (for herself, Mr. Watt, Mr. Lewis of 
Georgia, Mr. Washington, Mr. Mfume, Ms. Brown of Florida, Mr. Hilliard, 
  Mr. Rangel, Mr. Thompson of Mississippi, Mr. Ford of Tennessee, Mr. 
   Reynolds, Mrs. Clayton, Mr. Scott, Mr. Clyburn, Mrs. Collins, of 
Illinois, Mr. Bishop, Mr. Wheat, Mr. Towns, Ms. Norton, Mr. Tucker, Mr. 
Fields of Louisiana, Mr. Payne of New Jersey, Miss Collins of Michigan, 
Mr. Owens, Ms. McKinney, Mr. Hastings, Mrs. Meek, Mr. Stokes, Mr. Wynn, 
   Mr. Flake, Mr. Rush, Mr. Dixon, Mr. Jefferson, and Mr. Franks of 
 Connecticut) introduced the following bill; which was referred to the 
            Committee on Banking, Finance and Urban Affairs

_______________________________________________________________________

                                 A BILL


 
  To amend the Federal Deposit Insurance Act to permit the continued 
 insurance of deposits in minority- and women-owned banks by the Bank 
                 Deposit Financial Assistance Program.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Bank Deposit Insurance Amendments of 
1993''.

SEC. 2. BANK DEPOSIT FINANCIAL ASSISTANCE PROGRAM.

    (a) In General.--Effective December 19, 1993, section 7(i) of the 
Federal Deposit Insurance Act (12 U.S.C. 1817(i)) is amended--
            (1) by redesignating paragraph (3) as paragraph (4); and
            (2) by inserting after paragraph (2), the following new 
        paragraph:
            ``(3) Bank deposit financial assistance program.--
        Notwithstanding paragraph (1), funds deposited by an insured 
        depository institution pursuant to the Bank Deposit Financial 
        Assistance Program of the Department of Energy shall be 
        separately insured in an amount not to exceed $100,000 for each 
        insured depository institution depositing such funds.''.
    (b) Technical and Conforming Amendment.--Section 11(a)(1)(C) of the 
Federal Deposit Insurance Act (12 U.S.C. 1821(a)(1)(C)) is amended by 
striking ``section 7(i)(1)'' and inserting ``paragraph 1 or (2) of 
section 7(i) or any funds described in section 7(i)(3)''.

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