[Congressional Bills 109th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4636 Enrolled Bill (ENR)]


        H.R.4636

                       One Hundred Ninth Congress

                                 of the

                        United States of America


                          AT THE SECOND SESSION

          Begun and held at the City of Washington on Tuesday,
             the third day of January, two thousand and six


                                 An Act


 
To enact the technical and conforming amendments necessary to implement 
    the Federal Deposit Insurance Reform Act of 2005, and for other 
                                purposes.

    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 ``Federal Deposit Insurance Reform 
Conforming Amendments Act of 2005''.

SEC. 2. TECHNICAL AND CONFORMING AMENDMENTS.

    (a) Technical and Conforming Amendments Relating to Government 
Deposits.--Section 11(a)(2) of the Federal Deposit Insurance Act (12 
U.S.C. 1821(a)(2)) is amended--
        (1) in subparagraph (A)--
            (A) by moving the margins of clauses (i) through (v) 4 ems 
        to the right;
            (B) by striking, in the matter following clause (v), ``such 
        depositor shall'' and all that follows through the period; and
            (C) by striking the semicolon at the end of clause (v) and 
        inserting a period;
        (2) by striking ``(2)(A) Notwithstanding'' and all that follows 
    through ``a depositor who is--'' and inserting the following:
        ``(2) Government depositors.--
            ``(A) In general.--Notwithstanding any limitation in this 
        Act or in any other provision of law relating to the amount of 
        deposit insurance available to any 1 depositor--
                ``(i) a government depositor shall, for the purpose of 
            determining the amount of insured deposits under this 
            subsection, be deemed to be a depositor separate and 
            distinct from any other officer, employee, or agent of the 
            United States or any public unit referred to in 
            subparagraph (B); and
                ``(ii) except as provided in subparagraph (C), the 
            deposits of a government depositor shall be insured in an 
            amount equal to the standard maximum deposit insurance 
            amount (as determined under paragraph (1)).
            ``(B) Government depositor.--In this paragraph, the term 
        `government depositor' means a depositor that 
        is--'';
        (3) by striking ``(B) The'' and inserting the following:
            ``(C) Authority to limit deposits.--The''; and
        (4) by striking ``depositor referred to in subparagraph (A) of 
    this paragraph'' each place such term appears and inserting 
    ``government depositor''.
    (b) Technical and Conforming Amendment Relating to Insurance of 
Trust Funds.--Paragraphs (1) and (3) of section 7(i) of the Federal 
Deposit Insurance Act (12 U.S.C. 1817(i)) are each amended by striking 
``$100,000'' and inserting ``the standard maximum deposit insurance 
amount (as determined under section 11(a)(1))''.
    (c) Other Technical and Conforming Amendments.--
        (1) Section 11(m)(6) of the Federal Deposit Insurance Act (12 
    U.S.C. 1821(m)(6)) is amended by striking ``$100,000'' and 
    inserting ``an amount equal to the standard maximum deposit 
    insurance amount''.
        (2) Subsection (a) of section 18 of the Federal Deposit 
    Insurance Act (12 U.S.C. 1828(a)) is amended to read as follows:
    ``(a) Insurance Logo.--
        ``(1) Insured depository institutions.--
            ``(A) In general.--Each insured depository institution 
        shall display at each place of business maintained by that 
        institution a sign or signs relating to the insurance of the 
        deposits of the institution, in accordance with regulations to 
        be prescribed by the Corporation.
            ``(B) Statement to be included.--Each sign required under 
        subparagraph (A) shall include a statement that insured 
        deposits are backed by the full faith and credit of the United 
        States Government.
        ``(2) Regulations.--The Corporation shall prescribe regulations 
    to carry out this subsection, including regulations governing the 
    substance of signs required by paragraph (1) and the manner of 
    display or use of such signs.
        ``(3) Penalties.--For each day that an insured depository 
    institution continues to violate this subsection or any regulation 
    issued under this subsection, it shall be subject to a penalty of 
    not more than $100, which the Corporation may recover for its 
    use.''.
        (3) Section 43(d) of the Federal Deposit Insurance Act (12 
    U.S.C. 1831t(d)) is amended by striking ``$100,000'' and inserting 
    ``an amount equal to the standard maximum deposit insurance 
    amount''.
        (4) Section 6 of the International Banking Act of 1978 (12 
    U.S.C. 3104) is amended--
            (A) by striking ``$100,000'' each place such term appears 
        and inserting ``an amount equal to the standard maximum deposit 
        insurance amount''; and
            (B) by adding at the end the following new subsection:
    ``(e) Standard Maximum Deposit Insurance Amount Defined.--For 
purposes of this section, the term `standard maximum deposit insurance 
amount' means the amount of the maximum amount of deposit insurance as 
determined under section 11(a)(1) of the Federal Deposit Insurance 
Act.''.
    (d) Conforming Change to Credit Union Share Insurance Fund.--
        (1) In general.--Section 207(k) of the Federal Credit Union Act 
    (12 U.S.C. 1787(k)) is amended--
            (A) by striking ``(k)(1)'' and all that follows through the 
        end of paragraph (1) and inserting the following:
    ``(k) Insured Amounts Payable.--
        ``(1) Net insured amount.--
            ``(A) In general.--Subject to the provisions of paragraph 
        (2), the net amount of share insurance payable to any member at 
        an insured credit union shall not exceed the total amount of 
        the shares or deposits in the name of the member (after 
        deducting offsets), less any part thereof which is in excess of 
        the standard maximum share insurance amount, as determined in 
        accordance with this paragraph and paragraphs (5) and (6), and 
        consistently with actions taken by the Federal Deposit 
        Insurance Corporation under section 11(a) of the Federal 
        Deposit Insurance Act.
            ``(B) Aggregation.--Determination of the net amount of 
        share insurance under subparagraph (A), shall be in accordance 
        with such regulations as the Board may prescribe, and, in 
        determining the amount payable to any member, there shall be 
        added together all accounts in the credit union maintained by 
        that member for that member's own benefit, either in the 
        member's own name or in the names of others.
            ``(C) Authority to define the extent of coverage.--The 
        Board may define, with such classifications and exceptions as 
        it may prescribe, the extent of the share insurance coverage 
        provided for member accounts, including member accounts in the 
        name of a minor, in trust, or in joint tenancy.'';
            (B) in paragraph (2)--
                (i) in subparagraph (A)--

                    (I) in clauses (i) through (v), by moving the 
                margins 4 ems to the right;
                    (II) in the matter following clause (v), by 
                striking ``his account'' and all that follows through 
                the period; and
                    (III) by striking the semicolon at the end of 
                clause (v) and inserting a period;

                (ii) by striking ``(2)(A) Notwithstanding'' and all 
            that follows through ``a depositor or member who 
            is--'' and inserting the following:
        ``(2) Government depositors or members.--
            ``(A) In general.--Notwithstanding any limitation in this 
        Act or in any other provision of law relating to the amount of 
        insurance available to any 1 depositor or member, deposits or 
        shares of a government depositor or member shall be insured in 
        an amount equal to the standard maximum share insurance amount 
        (as determined under paragraph (5)), subject to subparagraph 
        (C).
            ``(B) Government depositor.--In this paragraph, the term 
        `government depositor' means a depositor that 
        is--'';
                (iii) by striking ``(B) The'' and inserting the 
            following:
            ``(C) Authority to limit deposits.--The''; and
                (iv) by striking ``depositor or member referred to in 
            subparagraph (A)'' and inserting ``government depositor or 
            member''; and
            (C) by adding at the end the following new paragraphs:
        ``(4) Coverage for certain employee benefit plan deposits.--
            ``(A) Pass-through insurance.--The Administration shall 
        provide pass-through share insurance for the deposits or shares 
        of any employee benefit plan.
            ``(B) Prohibition on acceptance of deposits.--An insured 
        credit union that is not well capitalized or adequately 
        capitalized may not accept employee benefit plan deposits.
            ``(C) Definitions.--For purposes of this paragraph, the 
        following definitions shall apply:
                ``(i) Capital standards.--The terms `well capitalized' 
            and `adequately capitalized' have the same meanings as in 
            section 216(c).
                ``(ii) Employee benefit plan.--The term `employee 
            benefit plan'--

                    ``(I) has the meaning given to such term in section 
                3(3) of the Employee Retirement Income Security Act of 
                1974;
                    ``(II) includes any plan described in section 
                401(d) of the Internal Revenue Code of 1986; and
                    ``(III) includes any eligible deferred compensation 
                plan described in section 457 of the Internal Revenue 
                Code of 1986.

                ``(iii) Pass-through share insurance.--The term `pass-
            through share insurance' means, with respect to an employee 
            benefit plan, insurance coverage based on the interest of 
            each participant, in accordance with regulations issued by 
            the Administration.
            ``(D) Rule of construction.--No provision of this paragraph 
        shall be construed as authorizing an insured credit union to 
        accept the deposits of an employee benefit plan in an amount 
        greater than such credit union is authorized to accept under 
        any other provision of Federal or State law.
        ``(5) Standard maximum share insurance amount defined.--For 
    purposes of this Act, the term `standard maximum share insurance 
    amount' means $100,000, adjusted as provided under section 
    11(a)(1)(F) of the Federal Deposit Insurance Act.''.
        (2) Increase in share insurance for certain retirement 
    accounts.--Section 207(k)(3) of the Federal Credit Union Act (12 
    U.S.C. 1787(k)(3)) is amended by striking ``$100,000'' and 
    inserting ```$250,000 (which amount shall be subject to inflation 
    adjustments as provided under section 11(a)(1)(F) of the Federal 
    Deposit Insurance Act, except that $250,000 shall be substituted 
    for $100,000 wherever such term appears in such section)'''.
        (3) Other technical and conforming amendments.--Section 205(a) 
    of the Federal Credit Union Act (12 U.S.C. 1785(a)) is amended to 
    read as follows:
    ``(a) Insurance Logo.--
        ``(1) Insured credit unions.--
            ``(A) In general.--Each insured credit union shall display 
        at each place of business maintained by that credit union a 
        sign or signs relating to the insurance of the share accounts 
        of the institution, in accordance with regulations to be 
        prescribed by the Board.
            ``(B) Statement to be included.--Each sign required under 
        subparagraph (A) shall include a statement that insured share 
        accounts are backed by the full faith and credit of the United 
        States Government.
        ``(2) Regulations.--The Board shall prescribe regulations to 
    carry out this subsection, including regulations governing the 
    substance of signs required by paragraph (1) and the manner of 
    display or use of such signs.
        ``(3) Penalties.--For each day that an insured credit union 
    continues to violate this subsection or any regulation issued under 
    this subsection, it shall be subject to a penalty of not more than 
    $100, which the Board may recover for its use.''.
    (e) Effective Date.--This section and the amendments made by this 
section shall take effect on the date on which the final regulations 
required under section 2109(a)(2) of the Federal Deposit Insurance 
Reform Act of 2005 take effect.

SEC. 3. CONFORMING AMENDMENTS RELATING TO ASSESSMENTS AND REPEAL OF 
              SPECIAL RULES RELATING TO MINIMUM ASSESSMENTS AND FREE 
              DEPOSIT INSURANCE.

    (a) In General.--The Federal Deposit Insurance Act (12 U.S.C. 1811 
et seq.) is amended as follows:
        (1) Paragraph (3) of section 7(a) of the Federal Deposit 
    Insurance Act (12 U.S.C. 1817(a)) is amended by striking the 3d 
    sentence and inserting the following: ``Such reports of condition 
    shall be the basis for the certified statements to be filed 
    pursuant to subsection (c).''.
        (2) Subparagraphs (B)(ii) and (C) of section 7(b)(1) of the 
    Federal Deposit Insurance Act (12 U.S.C. 1817(b)(1)) are each 
    amended by striking ``semiannual'' where such term appears in each 
    such subparagraph.
        (3) Section 7(b)(2) of the Federal Deposit Insurance Act (12 
    U.S.C. 1817(b)(2)) is amended--
            (A) by striking subparagraphs (E), (F), and (G);
            (B) in subparagraph (C), by striking ``semiannual''; and
            (C) by redesignating subparagraph (H) (as amended by 
        subsection (e)(2) of this section) as subparagraph (E).
        (4) Section 7(b) of the Federal Deposit Insurance Act (12 
    U.S.C. 1817(b)) is amended by striking paragraph (4) and 
    redesignating paragraphs (5) (as amended by subsection (b) of this 
    section), (6), and (7) as paragraphs (4), (5), and (6) 
    respectively.
        (5) Section 7(c) of the Federal Deposit Insurance Act (12 
    U.S.C. 1817(c)) is amended--
            (A) in paragraph (1)(A), by striking ``semiannual'';
            (B) in paragraph (2)(A), by striking ``semiannual''; and
            (C) in paragraph (3), by striking ``semiannual period'' and 
        inserting ``initial assessment period''.
        (6) Section 8(p) of the Federal Deposit Insurance Act (12 
    U.S.C. 1818(p)) is amended by striking ``semiannual''.
        (7) Section 8(q) of the Federal Deposit Insurance Act (12 
    U.S.C. 1818(q)) is amended by striking ``semiannual period'' and 
    inserting ``assessment period''.
        (8) Section 13(c)(4)(G)(ii)(II) of the Federal Deposit 
    Insurance Act (12 U.S.C. 1823(c)(4)(G)(ii)(II)) is amended by 
    striking ``semiannual period'' and inserting ``assessment period''.
        (9) Section 232(a) of the Federal Deposit Insurance Corporation 
    Improvement Act of 1991 (12 U.S.C. 1834(a)) is amended--
            (A) in the matter preceding subparagraph (A) of paragraph 
        (2), by striking ``the Board and'';
            (B) in subparagraph (J) of paragraph (2), by striking ``the 
        Board'' and inserting ``the Corporation'';
            (C) by striking subparagraph (A) of paragraph (3) and 
        inserting the following new subparagraph:
            ``(A) Corporation.--The term `Corporation' means the 
        Federal Deposit Insurance Corporation.''; and
            (D) in subparagraph (C) of paragraph (3), by striking 
        ``Board'' and inserting ``Corporation''.
    (b) Effective Date.--This section and the amendments made by this 
section shall take effect on the date that the final regulations 
required under section 2109(a)(5) of the Federal Deposit Insurance 
Reform Act of 2005 take effect.

SEC. 4. TECHNICAL AND CONFORMING AMENDMENTS RELATING TO REPLACEMENT OF 
              FIXED DESIGNATED RESERVE RATIO WITH RESERVE RANGE.

    (a) In General.--Section 3(y) of the Federal Deposit Insurance Act 
(12 U.S.C. 1813(y)) is amended--
        (1) by striking ``(y) The term'' and inserting the following:
    ``(y) Definitions Relating to Deposit Insurance Fund.--
        ``(1) Deposit insurance fund.--The term''; and
        (2) by inserting after paragraph (1) (as so designated by 
    paragraph (1) of this subsection) the following new paragraph:
        ``(2) Designated reserve ratio.--The term `designated reserve 
    ratio' means the reserve ratio designated by the Board of Directors 
    in accordance with section 7(b)(3).''.
    (b) Effective Date.--This section and the amendments made by this 
section shall take effect on the date that the final regulations 
required under section 2109(a)(1) of the Federal Deposit Insurance 
Reform Act of 2005 take effect.

SEC. 5. REPORT TO CONGRESS ON REFUNDS, DIVIDENDS, AND CREDITS FROM 
              DEPOSIT INSURANCE FUND.

    (a) Submission.--Any determination under section 7(e)(2)(E) of the 
Federal Deposit Insurance Act, as added by section 2107(a) of the 
Federal Deposit Insurance Reform Act of 2005, shall be submitted to the 
Committee on Banking, Housing, and Urban Affairs of the Senate and the 
Committee on Financial Services of the House of Representatives, not 
later than 270 days after making such determination.
    (b) Content.--The report submitted under subsection (a) shall 
include--
        (1) a detailed explanation for the determination; and
        (2) a discussion of the factors required to be considered under 
    section 7(e)(2)(F) of the Federal Deposit Insurance Act, as added 
    by section 2107(a) of the Federal Deposit Insurance Reform Act of 
    2005.

SEC. 6. STUDIES OF FDIC STRUCTURE AND EXPENSES AND CERTAIN ACTIVITIES 
              AND FURTHER POSSIBLE CHANGES TO DEPOSIT INSURANCE SYSTEM.

    (a) Study by Comptroller General.--
        (1) Study required.--The Comptroller General shall conduct a 
    study of the following issues:
            (A) The efficiency and effectiveness of the administration 
        of the prompt corrective action program under section 38 of the 
        Federal Deposit Insurance Act by the Federal banking agencies 
        (as defined in section 3 of such Act), including the degree of 
        effectiveness of such agencies in identifying troubled 
        depository institutions and taking effective action with 
        respect to such institutions, and the degree of accuracy of the 
        risk assessments made by the Corporation.
            (B) The appropriateness of the organizational structure of 
        the Federal Deposit Insurance Corporation for the mission of 
        the Corporation taking into account--
                (i) the current size and complexity of the business of 
            insured depository institutions (as such term is defined in 
            section 3 of the Federal Deposit Insurance Act);
                (ii) the extent to which the organizational structure 
            contributes to or reduces operational inefficiencies that 
            increase operational costs; and
                (iii) the effectiveness of internal controls.
        (2) Report to the congress.--The Comptroller General shall 
    submit a report to the Congress before the end of the 1-year period 
    beginning on the date of the enactment of this Act containing the 
    findings and conclusions of the Comptroller General with respect to 
    the study required under paragraph (1) together with such 
    recommendations for legislative or administrative action as the 
    Comptroller General may determine to be appropriate.
    (b) Study of Further Possible Changes to Deposit Insurance 
System.--
        (1) Study required.--The Board of Directors of the Federal 
    Deposit Insurance Corporation and the National Credit Union 
    Administration Board shall each conduct a study of the following:
            (A) The feasibility of establishing a voluntary deposit 
        insurance system for deposits in excess of the maximum amount 
        of deposit insurance for any depositor and the potential 
        benefits and the potential adverse consequences that may result 
        from the establishment of any such system.
            (B) The feasibility of increasing the limit on deposit 
        insurance for deposits of municipalities and other units of 
        general local government, and the potential benefits and the 
        potential adverse consequences that may result from any such 
        increase.
            (C) The feasibility of privatizing all deposit insurance at 
        insured depository institutions and insured credit unions.
        (2) Report.--Before the end of the 1-year period beginning on 
    the date of the enactment of this Act, the Board of Directors of 
    the Federal Deposit Insurance Corporation and the National Credit 
    Union Administration Board shall each submit a report to the 
    Congress on the study required under paragraph (1) containing the 
    findings and conclusions of the reporting agency together with such 
    recommendations for legislative or administrative changes as the 
    agency may determine to be appropriate.
    (c) Study Regarding Appropriate Deposit Base in Designating Reserve 
Ratio.--
        (1) Study required.--The Federal Deposit Insurance Corporation 
    shall conduct a study of the feasibility of using alternatives to 
    estimated insured deposits in calculating the reserve ratio of the 
    Deposit Insurance Fund and designating a reserve ratio for such 
    Fund.
        (2) Report.--The Federal Deposit Insurance Corporation shall 
    submit a report to the Congress before the end of the 1-year period 
    beginning on the date of the enactment of this Act containing the 
    findings and conclusions of the Corporation with respect to the 
    study required under paragraph (1) together with such 
    recommendations for legislative or administrative action as the 
    Board of Directors of the Corporation may determine to be 
    appropriate.
    (d) Study of Reserve Methodology and Accounting for Loss.--
        (1) Study required.--The Federal Deposit Insurance Corporation 
    shall conduct a study of the reserve methodology and loss 
    accounting used by the Corporation during the period beginning on 
    January 1, 1992, and ending December 31, 2004, with respect to 
    insured depository institutions in a troubled condition (as defined 
    in the regulations prescribed pursuant to section 32(f) of the 
    Federal Deposit Insurance Act). The Corporation shall obtain 
    comments on the design of the study from the Comptroller General.
        (2) Factors to be included.--In conducting the study pursuant 
    to paragraph (1), the Federal Deposit Insurance Corporation shall--
            (A) consider the overall effectiveness and accuracy of the 
        methodology used by the Corporation for establishing and 
        maintaining reserves and estimating and accounting for losses 
        at insured depository institutions, during the period described 
        in such paragraph;
            (B) consider the appropriateness and reliability of 
        information and criteria used by the Corporation in 
        determining--
                (i) whether an insured depository institution was in a 
            troubled condition; and
                (ii) the amount of any loss anticipated at such 
            institution;
            (C) analyze the actual historical loss experience over the 
        period described in paragraph (1) and the causes of the 
        exceptionally high rate of losses experienced by the 
        Corporation in the final 3 years of that period; and
            (D) rate the efforts of the Corporation to reduce losses in 
        such 3-year period to minimally acceptable levels and to 
        historical levels.
        (3) Report required.--The Board of Directors of the Federal 
    Deposit Insurance Corporation shall submit a report to the Congress 
    before the end of the 1-year period beginning on the date of the 
    enactment of this Act, containing the findings and conclusions of 
    the Corporation with respect to the study required under paragraph 
    (1), together with such recommendations for legislative or 
    administrative action as the Board of Directors may determine to be 
    appropriate. Before submitting the report to Congress, the Board of 
    Directors shall provide a draft of the report to the Comptroller 
    General for comment.
    (e) Basel II Study.--
        (1) In general.--Not later than 1 year after the date of 
    enactment of this Act, the Comptroller General shall report to the 
    Committee on Banking, Housing, and Urban Affairs of the Senate and 
    the Committee on Financial Services of the House of Representatives 
    on the potential impact on the financial system of the United 
    States of the implementation of the new Basel Capital Accord (Basel 
    II) and the proposed revisions to current reserve requirement 
    regulations for non-Basel II banks.
        (2) Factors to be included.--The report required under 
    paragraph (1) shall address the following:
            (A) The potential impact of Basel II on capital 
        requirements in the United States, including--
                (i) whether there would be a reduction in capital 
            requirements;
                (ii) whether Basel II could hinder enforcement of 
            prompt corrective action laws and regulations; and
                (iii) the potential implications any changes in capital 
            requirements may have on the safety and soundness of the 
            financial system in the United States.
            (B) By gathering available information, the ability of 
        United States banks and bank regulators to implement and comply 
        with the provisions of Basel II, including--
                (i) the costs of Basel II for financial institutions 
            and regulators;
                (ii) the feasibility and appropriateness of Basel II's 
            statistical models; and
                (iii) the ability of regulators to oversee capital 
            requirement operations of financial institutions.
            (C) The ability of the United States financial institution 
        regulatory agencies--
                (i) to attract and retain sufficient expertise, both 
            among specialists and examiners; and
                (ii) to conduct the necessary oversight of capital and 
            risk modeling by regulated financial institutions subject 
            to Basel II.

SEC. 7. BI-ANNUAL FDIC SURVEY AND REPORT ON INCREASING THE DEPOSIT BASE 
              BY ENCOURAGING USE OF DEPOSITORY INSTITUTIONS BY THE 
              UNBANKED.

    The Federal Deposit Insurance Act (12 U.S.C. 1811 et seq.) is 
amended by adding at the end the following new section:

``SEC. 49. BI-ANNUAL FDIC SURVEY AND REPORT ON ENCOURAGING USE OF 
              DEPOSITORY INSTITUTIONS BY THE UNBANKED.

    ``(a) Survey Required.--
        ``(1) In general.--The Corporation shall conduct a bi-annual 
    survey on efforts by insured depository institutions to bring those 
    individuals and families who have rarely, if ever, held a checking 
    account, a savings account or other type of transaction or check 
    cashing account at an insured depository institution (hereafter in 
    this section referred to as the `unbanked') into the conventional 
    finance system.
        ``(2) Factors and questions to consider.--In conducting the 
    survey, the Corporation shall take the following factors and 
    questions into account:
            ``(A) To what extent do insured depository institutions 
        promote financial education and financial literacy outreach?
            ``(B) Which financial education efforts appear to be the 
        most effective in bringing `unbanked' individuals and families 
        into the conventional finance system?
            ``(C) What efforts are insured institutions making at 
        converting `unbanked' money order, wire transfer, and 
        international remittance customers into conventional account 
        holders?
            ``(D) What cultural, language and identification issues as 
        well as transaction costs appear to most prevent `unbanked' 
        individuals from establishing conventional accounts?
            ``(E) What is a fair estimate of the size and worth of the 
        `unbanked' market in the United States?
    ``(b) Reports.--The Chairperson of the Board of Directors shall 
submit a bi-annual report to the Committee on Financial Services of the 
House of Representatives and the Committee on Banking, Housing, and 
Urban Affairs of the Senate containing the Corporation's findings and 
conclusions with respect to the survey conducted pursuant to subsection 
(a), together with such recommendations for legislative or 
administrative action as the Chairperson may determine to be 
appropriate.''.

SEC. 8. TECHNICAL AND CONFORMING AMENDMENTS TO THE FEDERAL DEPOSIT 
              INSURANCE ACT RELATING TO THE MERGER OF THE BIF AND SAIF.

    (a) In General.--The Federal Deposit Insurance Act (12 U.S.C. 1811 
et seq.) is amended--
        (1) in section 3 (12 U.S.C. 1813)--
            (A) by striking subparagraph (B) of subsection (a)(1) and 
        inserting the following new subparagraph:
            ``(B) includes any former savings association.''; and
            (B) by striking paragraph (1) of subsection (y) (as so 
        designated by section 4(b) of this title) and inserting the 
        following new paragraph:
        ``(1) Deposit insurance fund.--The term `Deposit Insurance 
    Fund' means the Deposit Insurance Fund established under section 
    11(a)(4).'';
        (2) in section 5(b)(5) (12 U.S.C. 1815(b)(5)), by striking 
    ``the Bank Insurance Fund or the Savings Association Insurance 
    Fund,'' and inserting ``the Deposit Insurance Fund,'';
        (3) in section 5(c)(4), by striking ``deposit insurance fund'' 
    and inserting ``Deposit Insurance Fund'';
        (4) in section 5(d) (12 U.S.C. 1815(d)), by striking paragraphs 
    (2) and (3) (and any funds resulting from the application of such 
    paragraph (2) prior to its repeal shall be deposited into the 
    general fund of the Deposit Insurance Fund);
        (5) in section 5(d)(1) (12 U.S.C. 1815(d)(1))--
            (A) in subparagraph (A), by striking ``reserve ratios in 
        the Bank Insurance Fund and the Savings Association Insurance 
        Fund as required by section 7'' and inserting ``the reserve 
        ratio of the Deposit Insurance Fund'';
            (B) by striking subparagraph (B) and inserting the 
        following:
        ``(2) Fee credited to the deposit insurance fund.--The fee paid 
    by the depository institution under paragraph (1) shall be credited 
    to the Deposit Insurance Fund.'';
            (C) by striking ``(1) uninsured institutions.--''; and
            (D) by redesignating subparagraphs (A) and (C) as 
        paragraphs (1) and (3), respectively, and moving the left 
        margins 2 ems to the left;
        (6) in section 5(e) (12 U.S.C. 1815(e))--
            (A) in paragraph (5)(A), by striking ``Bank Insurance Fund 
        or the Savings Association Insurance Fund'' and inserting 
        ``Deposit Insurance Fund'';
            (B) by striking paragraph (6); and
            (C) by redesignating paragraphs (7), (8), and (9) as 
        paragraphs (6), (7), and (8), respectively;
        (7) in section 6(5) (12 U.S.C. 1816(5)), by striking ``Bank 
    Insurance Fund or the Savings Association Insurance Fund'' and 
    inserting ``Deposit Insurance Fund'';
        (8) in section 7(b) (12 U.S.C. 1817(b))--
            (A) in paragraph (1)(C), by striking ``deposit insurance 
        fund'' each place that term appears and inserting ``Deposit 
        Insurance Fund'';
            (B) in paragraph (1)(D), by striking ``each deposit 
        insurance fund'' and inserting ``the Deposit Insurance Fund''; 
        and
            (C) in paragraph (5) (as so redesignated by section 
        3(d)(4))--
                (i) by striking ``any such assessment'' and inserting 
            ``any such assessment is necessary'';
                (ii) by striking subparagraph (B);
                (iii) in subparagraph (A)--

                    (I) by striking ``(A) is necessary--'';
                    (II) by striking ``Bank Insurance Fund members'' 
                and inserting ``insured depository institutions''; and
                    (III) by redesignating clauses (i), (ii), and (iii) 
                as subparagraphs (A), (B), and (C), respectively, and 
                moving the margins 2 ems to the left; and

                (iv) in subparagraph (C) (as so redesignated)--

                    (I) by inserting ``that'' before ``the 
                Corporation''; and
                    (II) by striking ``; and'' and inserting a period;

        (9) in section 7(j)(7)(F) (12 U.S.C. 1817(j)(7)(F)), by 
    striking ``Bank Insurance Fund or the Savings Association Insurance 
    Fund'' and inserting ``Deposit Insurance Fund'';
        (10) in section 8(t)(2)(C) (12 U.S.C. 1818(t)(2)(C)), by 
    striking ``deposit insurance fund'' and inserting ``Deposit 
    Insurance Fund'';
        (11) in section 11 (12 U.S.C. 1821)--
            (A) by striking ``deposit insurance fund'' each place that 
        term appears and inserting ``Deposit Insurance Fund'';
            (B) by striking paragraph (4) of subsection (a) and 
        inserting the following new paragraph:
        ``(4) Deposit insurance fund.--
            ``(A) Establishment.--There is established the Deposit 
        Insurance Fund, which the Corporation shall--
                ``(i) maintain and administer;
                ``(ii) use to carry out its insurance purposes, in the 
            manner provided by this subsection; and
                ``(iii) invest in accordance with section 13(a).
            ``(B) Uses.--The Deposit Insurance Fund shall be available 
        to the Corporation for use with respect to insured depository 
        institutions the deposits of which are insured by the Deposit 
        Insurance Fund.
            ``(C) Limitation on use.--Notwithstanding any provision of 
        law other than section 13(c)(4)(G), the Deposit Insurance Fund 
        shall not be used in any manner to benefit any shareholder or 
        affiliate (other than an insured depository institution that 
        receives assistance in accordance with the provisions of this 
        Act) of--
                ``(i) any insured depository institution for which the 
            Corporation has been appointed conservator or receiver, in 
            connection with any type of resolution by the Corporation;
                ``(ii) any other insured depository institution in 
            default or in danger of default, in connection with any 
            type of resolution by the Corporation; or
                ``(iii) any insured depository institution, in 
            connection with the provision of assistance under this 
            section or section 13 with respect to such institution, 
            except that this clause shall not prohibit any assistance 
            to any insured depository institution that is not in 
            default, or that is not in danger of default, that is 
            acquiring (as defined in section 13(f)(8)(B)) another 
            insured depository institution.
            ``(D) Deposits.--All amounts assessed against insured 
        depository institutions by the Corporation shall be deposited 
        into the Deposit Insurance Fund.'';
            (C) by striking paragraphs (5), (6), and (7) of subsection 
        (a); and
            (D) by redesignating paragraph (8) of subsection (a) as 
        paragraph (5);
        (12) in section 11(f)(1) (12 U.S.C. 1821(f)(1)), by striking 
    ``, except that--'' and all that follows through the end of the 
    paragraph and inserting a period;
        (13) in section 11(i)(3) (12 U.S.C. 1821(i)(3))--
            (A) by striking subparagraph (B);
            (B) by redesignating subparagraph (C) as subparagraph (B); 
        and
            (C) in subparagraph (B) (as so redesignated), by striking 
        ``subparagraphs (A) and (B)'' and inserting ``subparagraph 
        (A)'';
        (14) in section 11(p)(2)(B) (12 U.S.C. 1821(p)(2)(B)), by 
    striking ``institution, any'' and inserting ``institution, the'';
        (15) in section 11A(a) (12 U.S.C. 1821a(a))--
            (A) in paragraph (2), by striking ``liabilities.--'' and 
        all that follows through ``Except'' and inserting 
        ``liabilities.--Except'';
            (B) by striking paragraph (2)(B); and
            (C) in paragraph (3), by striking ``the Bank Insurance 
        Fund, the Savings Association Insurance Fund,'' and inserting 
        ``the Deposit Insurance Fund'';
        (16) in section 11A(b) (12 U.S.C. 1821a(b)), by striking 
    paragraph (4);
        (17) in section 11A(f) (12 U.S.C. 1821a(f)), by striking 
    ``Savings Association Insurance Fund'' and inserting ``Deposit 
    Insurance Fund'';
        (18) in section 12(f)(4)(E)(iv) (12 U.S.C. 1822(f)(4)(E)(iv)), 
    by striking ``Federal deposit insurance funds'' and inserting ``the 
    Deposit Insurance Fund (or any predecessor deposit insurance 
    fund)'';
        (19) in section 13 (12 U.S.C. 1823)--
            (A) by striking ``deposit insurance fund'' each place that 
        term appears and inserting ``Deposit Insurance Fund'';
            (B) in subsection (a)(1), by striking ``Bank Insurance 
        Fund, the Savings Association Insurance Fund,'' and inserting 
        ``Deposit Insurance Fund'';
            (C) in subsection (c)(4)(E)--
                (i) in the subparagraph heading, by striking ``funds'' 
            and inserting ``fund''; and
                (ii) in clause (i), by striking ``any insurance fund'' 
            and inserting ``the Deposit Insurance Fund'';
            (D) in subsection (c)(4)(G)(ii)--
                (i) by striking ``appropriate insurance fund'' and 
            inserting ``Deposit Insurance Fund'';
                (ii) by striking ``the members of the insurance fund 
            (of which such institution is a member)'' and inserting 
            ``insured depository institutions'';
                (iii) by striking ``each member's'' and inserting 
            ``each insured depository institution's''; and
                (iv) by striking ``the member's'' each place that term 
            appears and inserting ``the institution's'';
            (E) in subsection (c), by striking paragraph (11);
            (F) in subsection (h), by striking ``Bank Insurance Fund'' 
        and inserting ``Deposit Insurance Fund'';
            (G) in subsection (k)(4)(B)(i), by striking ``Savings 
        Association Insurance Fund member'' and inserting ``savings 
        association''; and
            (H) in subsection (k)(5)(A), by striking ``Savings 
        Association Insurance Fund members'' and inserting ``savings 
        associations'';
        (20) in section 14(a) (12 U.S.C. 1824(a)), in the 5th 
    sentence--
            (A) by striking ``Bank Insurance Fund or the Savings 
        Association Insurance Fund'' and inserting ``Deposit Insurance 
        Fund''; and
            (B) by striking ``each such fund'' and inserting ``the 
        Deposit Insurance Fund'';
        (21) in section 14(b) (12 U.S.C. 1824(b)), by striking ``Bank 
    Insurance Fund or Savings Association Insurance Fund'' and 
    inserting ``Deposit Insurance Fund'';
        (22) in section 14(c) (12 U.S.C. 1824(c)), by striking 
    paragraph (3);
        (23) in section 14(d) (12 U.S.C. 1824(d))--
            (A) by striking ``Bank Insurance Fund member'' each place 
        that term appears and inserting ``insured depository 
        institution'';
            (B) by striking ``Bank Insurance Fund members'' each place 
        that term appears and inserting ``insured depository 
        institutions'';
            (C) by striking ``Bank Insurance Fund'' each place that 
        term appears (other than in connection with a reference to a 
        term amended by subparagraph (A) or (B) of this paragraph) and 
        inserting ``Deposit Insurance Fund'';
            (D) by striking the subsection heading and inserting the 
        following:
    ``(d) Borrowing for the Deposit Insurance Fund From Insured 
Depository Institutions.--'';
            (E) in paragraph (3), in the paragraph heading, by striking 
        ``bif'' and inserting ``the deposit insurance fund''; and
            (F) in paragraph (5), in the paragraph heading, by striking 
        ``bif members'' and inserting ``insured depository 
        institutions'';
        (24) in section 14 (12 U.S.C. 1824), by adding at the end the 
    following new subsection:
    ``(e) Borrowing for the Deposit Insurance Fund From Federal Home 
Loan Banks.--
        ``(1) In general.--The Corporation may borrow from the Federal 
    home loan banks, with the concurrence of the Federal Housing 
    Finance Board, such funds as the Corporation considers necessary 
    for the use of the Deposit Insurance Fund.
        ``(2) Terms and conditions.--Any loan from any Federal home 
    loan bank under paragraph (1) to the Deposit Insurance Fund shall--
            ``(A) bear a rate of interest of not less than the current 
        marginal cost of funds to that bank, taking into account the 
        maturities involved;
            ``(B) be adequately secured, as determined by the Federal 
        Housing Finance Board;
            ``(C) be a direct liability of the Deposit Insurance Fund; 
        and
            ``(D) be subject to the limitations of section 15(c).'';
        (25) in section 15(c)(5) (12 U.S.C. 1825(c)(5))--
            (A) by striking ``the Bank Insurance Fund or Savings 
        Association Insurance Fund, respectively'' each place that term 
        appears and inserting ``the Deposit Insurance Fund''; and
            (B) in subparagraph (B), by striking ``the Bank Insurance 
        Fund or the Savings Association Insurance Fund, respectively'' 
        and inserting ``the Deposit Insurance Fund'';
        (26) in section 17(a) (12 U.S.C. 1827(a))--
            (A) in the subsection heading, by striking ``BIF, SAIF,'' 
        and inserting ``the Deposit Insurance Fund''; and
            (B) in paragraph (1)--
                (i) by striking ``the Bank Insurance Fund, the Savings 
            Association Insurance Fund,'' each place that term appears 
            and inserting ``the Deposit Insurance Fund''; and
                (ii) in subparagraph (D), by striking ``each insurance 
            fund'' and inserting ``the Deposit Insurance Fund'';
        (27) in section 17(d) (12 U.S.C. 1827(d)), by striking ``, the 
    Bank Insurance Fund, the Savings Association Insurance Fund,'' each 
    place that term appears and inserting ``the Deposit Insurance 
    Fund'';
        (28) in section 18(m)(3) (12 U.S.C. 1828(m)(3))--
            (A) by striking ``Savings Association Insurance Fund'' in 
        the 1st sentence of subparagraph (A) and inserting ``Deposit 
        Insurance Fund'';
            (B) by striking ``Savings Association Insurance Fund 
        member'' in the last sentence of subparagraph (A) and inserting 
        ``savings association''; and
            (C) by striking ``Savings Association Insurance Fund or the 
        Bank Insurance Fund'' in subparagraph (C) and inserting 
        ``Deposit Insurance Fund'';
        (29) in section 18(o) (12 U.S.C. 1828(o)), by striking 
    ``deposit insurance funds'' and ``deposit insurance fund'' each 
    place those terms appear and inserting ``Deposit Insurance Fund'';
        (30) in section 18(p) (12 U.S.C. 1828(p)), by striking 
    ``deposit insurance funds'' and inserting ``Deposit Insurance 
    Fund'';
        (31) in section 24 (12 U.S.C. 1831a)--
            (A) in subsections (a)(1) and (d)(1)(A), by striking 
        ``appropriate deposit insurance fund'' each place that term 
        appears and inserting ``Deposit Insurance Fund'';
            (B) in subsection (e)(2)(A), by striking ``risk to'' and 
        all that follows through the period and inserting ``risk to the 
        Deposit Insurance Fund.''; and
            (C) in subsections (e)(2)(B)(ii) and (f)(6)(B), by striking 
        ``the insurance fund of which such bank is a member'' each 
        place that term appears and inserting ``the Deposit Insurance 
        Fund'';
        (32) in section 28 (12 U.S.C. 1831e), by striking ``affected 
    deposit insurance fund'' each place that term appears and inserting 
    ``Deposit Insurance Fund'';
        (33) by striking section 31 (12 U.S.C. 1831h);
        (34) in section 36(i)(3) (12 U.S.C. 1831m(i)(3)), by striking 
    ``affected deposit insurance fund'' and inserting ``Deposit 
    Insurance Fund'';
        (35) in section 37(a)(1)(C) (12 U.S.C. 1831n(a)(1)(C)), by 
    striking ``insurance funds'' and inserting ``Deposit Insurance 
    Fund'';
        (36) in section 38 (12 U.S.C. 1831o), by striking ``the deposit 
    insurance fund'' each place that term appears and inserting ``the 
    Deposit Insurance Fund'';
        (37) in section 38(a) (12 U.S.C. 1831o(a)), in the subsection 
    heading, by striking ``Funds'' and inserting ``Fund'';
        (38) in section 38(k) (12 U.S.C. 1831o(k))--
            (A) in paragraph (1), by striking ``a deposit insurance 
        fund'' and inserting ``the Deposit Insurance Fund'';
            (B) in paragraph (2), by striking ``A deposit insurance 
        fund'' and inserting ``The Deposit Insurance Fund''; and
            (C) in paragraphs (2)(A) and (3)(B), by striking ``the 
        deposit insurance fund's outlays'' each place that term appears 
        and inserting ``the outlays of the Deposit Insurance Fund''; 
        and
        (39) in section 38(o) (12 U.S.C. 1831o(o))--
            (A) by striking ``associations.--'' and all that follows 
        through ``Subsections (e)(2)'' and inserting ``associations.--
        Subsections (e)(2)'';
            (B) by redesignating subparagraphs (A), (B), and (C) as 
        paragraphs (1), (2), and (3), respectively, and moving the 
        margins 2 ems to the left; and
            (C) in paragraph (1) (as so redesignated), by redesignating 
        clauses (i) and (ii) as subparagraphs (A) and (B), 
        respectively, and moving the margins 2 ems to the left.
    (b) Effective Date.--This section and the amendments made by this 
section shall take effect on the day of the merger of the Bank 
Insurance Fund and the Savings Association Insurance Fund pursuant to 
the Federal Deposit Insurance Reform Act of 2005.

SEC. 9. OTHER TECHNICAL AND CONFORMING AMENDMENTS RELATING TO THE 
              MERGER OF THE BIF AND SAIF.

    (a) Section 5136 of the Revised Statutes.--The paragraph designated 
the ``Eleventh'' of section 5136 of the Revised Statutes of the United 
States (12 U.S.C. 24) is amended in the 5th sentence, by striking 
``affected deposit insurance fund'' and inserting ``Deposit Insurance 
Fund''.
    (b) Investments Promoting Public Welfare; Limitations on Aggregate 
Investments.--The 23d undesignated paragraph of section 9 of the 
Federal Reserve Act (12 U.S.C. 338a) is amended in the 4th sentence, by 
striking ``affected deposit insurance fund'' and inserting ``Deposit 
Insurance Fund''.
    (c) Advances to Critically Undercapitalized Depository 
Institutions.--Section 10B(b)(3)(A)(ii) of the Federal Reserve Act (12 
U.S.C. 347b(b)(3)(A)(ii)) is amended by striking ``any deposit 
insurance fund in'' and inserting ``the Deposit Insurance Fund of''.
    (d) Amendments to the Federal Home Loan Bank Act.--The Federal Home 
Loan Bank Act (12 U.S.C. 1421 et seq.) is amended--
        (1) in section 11(k) (12 U.S.C. 1431(k))--
            (A) in the subsection heading, by striking ``SAIF'' and 
        inserting ``the Deposit Insurance Fund''; and
            (B) by striking ``Savings Association Insurance Fund'' each 
        place such term appears and inserting ``Deposit Insurance 
        Fund'';
        (2) in section 21 (12 U.S.C. 1441)--
            (A) in subsection (f)(2), by striking ``, except that'' and 
        all that follows through the end of the paragraph and inserting 
        a period; and
            (B) in subsection (k), by striking paragraph (4);
        (3) in section 21A(b)(4)(B) (12 U.S.C. 1441a(b)(4)(B)), by 
    striking ``affected deposit insurance fund'' and inserting 
    ``Deposit Insurance Fund'';
        (4) in section 21A(b)(6)(B) (12 U.S.C. 1441a(b)(6)(B))--
            (A) in the subparagraph heading, by striking ``Saif-insured 
        banks'' and inserting ``Charter conversions''; and
            (B) by striking ``Savings Association Insurance Fund 
        member'' and inserting ``savings association'';
        (5) in section 21A(b)(10)(A)(iv)(II) (12 U.S.C. 
    1441a(b)(10)(A)(iv)(II)), by striking ``Savings Association 
    Insurance Fund'' and inserting ``Deposit Insurance Fund'';
        (6) in section 21A(n)(6)(E)(iv) (12 U.S.C. 1441(n)(6)(E)(iv)), 
    by striking ``Federal deposit insurance funds'' and inserting ``the 
    Deposit Insurance Fund'';
        (7) in section 21B(e) (12 U.S.C. 1441b(e))--
            (A) in paragraph (5), by inserting ``as of the date of 
        funding'' after ``Savings Association Insurance Fund members'' 
        each place that term appears; and
            (B) by striking paragraphs (7) and (8); and
        (8) in section 21B(k) (12 U.S.C. 1441b(k))--
            (A) by inserting before the colon ``, the following 
        definitions shall apply'';
            (B) by striking paragraph (8); and
            (C) by redesignating paragraphs (9) and (10) as paragraphs 
        (8) and (9), respectively.
    (e) Amendments to the Home Owners' Loan Act.--The Home Owners' Loan 
Act (12 U.S.C. 1461 et seq.) is amended--
        (1) in section 5 (12 U.S.C. 1464)--
            (A) in subsection (c)(5)(A), by striking ``that is a member 
        of the Bank Insurance Fund'';
            (B) in subsection (c)(6), by striking ``As used in this 
        subsection--'' and inserting ``For purposes of this subsection, 
        the following definitions shall apply:'';
            (C) in subsection (o)(1), by striking ``that is a Bank 
        Insurance Fund member'';
            (D) in subsection (o)(2)(A), by striking ``a Bank Insurance 
        Fund member until such time as it changes its status to a 
        Savings Association Insurance Fund member'' and inserting 
        ``insured by the Deposit Insurance Fund'';
            (E) in subsection (t)(5)(D)(iii)(II), by striking 
        ``affected deposit insurance fund'' and inserting ``Deposit 
        Insurance Fund'';
            (F) in subsection (t)(7)(C)(i)(I), by striking ``affected 
        deposit insurance fund'' and inserting ``Deposit Insurance 
        Fund''; and
            (G) in subsection (v)(2)(A)(i), by striking ``the Savings 
        Association Insurance Fund'' and inserting ``or the Deposit 
        Insurance Fund''; and
        (2) in section 10 (12 U.S.C. 1467a)--
            (A) in subsection (c)(6)(D), by striking ``this title'' and 
        inserting ``this Act'';
            (B) in subsection (e)(1)(B), by striking ``Savings 
        Association Insurance Fund or Bank Insurance Fund'' and 
        inserting ``Deposit Insurance Fund'';
            (C) in subsection (e)(2), by striking ``Savings Association 
        Insurance Fund or the Bank Insurance Fund'' and inserting 
        ``Deposit Insurance Fund'';
            (D) in subsection (e)(4)(B), by striking ``subsection (1)'' 
        and inserting ``subsection (l)'';
            (E) in subsection (g)(3)(A), by striking ``(5) of this 
        section'' and inserting ``(5) of this subsection'';
            (F) in subsection (i), by redesignating paragraph (5) as 
        paragraph (4);
            (G) in subsection (m)(3), by striking subparagraph (E) and 
        by redesignating subparagraphs (F), (G), and (H) as 
        subparagraphs (E), (F), and (G), respectively;
            (H) in subsection (m)(7)(A), by striking ``during period'' 
        and inserting ``during the period''; and
            (I) in subsection (o)(3)(D), by striking ``sections 5(s) 
        and (t) of this Act'' and inserting ``subsections (s) and (t) 
        of section 5''.
    (f) Amendments to the National Housing Act.--The National Housing 
Act (12 U.S.C. 1701 et seq.) is amended--
        (1) in section 317(b)(1)(B) (12 U.S.C. 1723i(b)(1)(B)), by 
    striking ``Bank Insurance Fund for banks or through the Savings 
    Association Insurance Fund for savings associations'' and inserting 
    ``Deposit Insurance Fund''; and
        (2) in section 536(b)(1)(B)(ii) (12 U.S.C. 1735f-
    14(b)(1)(B)(ii)), by striking ``Bank Insurance Fund for banks and 
    through the Savings Association Insurance Fund for savings 
    associations'' and inserting ``Deposit Insurance Fund''.
    (g) Amendments to the Financial Institutions Reform, Recovery, and 
Enforcement Act of 1989.--The Financial Institutions Reform, Recovery, 
and Enforcement Act of 1989 (12 U.S.C. 1811 note) is amended--
        (1) in section 951(b)(3)(B) (12 U.S.C. 1833a(b)(3)(B)), by 
    inserting ``and after the merger of such funds, the Deposit 
    Insurance Fund,'' after ``the Savings Association Insurance 
    Fund,''; and
        (2) in section 1112(c)(1)(B) (12 U.S.C. 3341(c)(1)(B)), by 
    striking ``Bank Insurance Fund, the Savings Association Insurance 
    Fund,'' and inserting ``Deposit Insurance Fund''.
    (h) Amendment to the Bank Holding Company Act of 1956.--The Bank 
Holding Company Act of 1956 (12 U.S.C. 1841 et seq.) is amended--
        (1) in section 2(j)(2) (12 U.S.C. 1841(j)(2)), by striking 
    ``Savings Association Insurance Fund'' and inserting ``Deposit 
    Insurance Fund''; and
        (2) in section 3(d)(1)(D)(iii) (12 U.S.C. 1842(d)(1)(D)(iii)), 
    by striking ``appropriate deposit insurance fund'' and inserting 
    ``Deposit Insurance Fund''.
    (i) Amendments to the Gramm-Leach-Bliley Act.--Section 114 of the 
Gramm-Leach-Bliley Act (12 U.S.C. 1828a) is amended by striking ``any 
Federal deposit insurance fund'' in subsection (a)(1)(B), paragraphs 
(2)(B) and (4)(B) of subsection (b), and subsection (c)(1)(B), each 
place that term appears and inserting ``the Deposit Insurance Fund''.
    (j) Effective Date.--This section and the amendments made by this 
section shall take effect on the day of the merger of the Bank 
Insurance Fund and the Savings Association Insurance Fund pursuant to 
the Federal Deposit Insurance Reform Act of 2005.

                               Speaker of the House of Representatives.

                            Vice President of the United States and    
                                               President of the Senate.