1.Short title; table of
contents
(a)This Act may be cited
as the Safe and Fair Deposit Insurance
Act of 2005
.
(b)The table of
contents for this Act is as follows:
Sec. 1. Short title; table of contents.
Sec. 2. Definitions.
TITLE I—Merger of the Deposit Insurance Funds
Sec. 101. Short title.
Sec. 102. Merger of BIF and SAIF.
Sec. 103. Establishment of the Deposit Insurance
Fund.
Sec. 104. Technical and conforming amendments to the
Federal Deposit Insurance
Act.
Sec. 105. Other technical and conforming
amendments.
Sec. 106. Effective date.
TITLE II—Deposit insurance modernization and
improvement
Sec. 201. Short title.
Sec. 202. Increase in Federal insurance coverage.
Sec. 203. Designated reserve ratio.
Sec. 204. Assessment credits and dividends.
Sec. 205. Regulations required.
Sec. 206. Studies of potential changes to the Federal deposit
insurance system.
Sec. 207. Effective date.
2.In this Act—
(1)the term Administration means
the National Credit Union Administration;
(2)the term Board means the Board
of Directors of the Federal Deposit Insurance Corporation (other than in
connection with the National Credit Union Administration Board);
(3)the term Corporation means the
Federal Deposit Insurance Corporation;
(4)the term designated reserve
ratio means the reserve ratio designated by the Board under
section
7(b)(3) of the Federal Deposit
Insurance Act, as amended by this Act;
(5)the terms Fund and
Deposit Insurance Fund mean the Deposit Insurance Fund established
under section
11(a)(4) of the Federal Deposit
Insurance Act, as amended by this Act;
(6)the term insured depository
institution has the same meaning as in
section 3
of the Federal Deposit Insurance Act;
and
(7)the term reserve ratio means
the ratio of the fund balance of the Deposit Insurance Fund to the aggregate
estimated amount of deposits insured by the Fund.
<enum>I</enum><header>Merger of the Deposit Insurance
Funds</header>
<section commented="no" display-inline="no-display-inline" id="ID24D0717EC12446A4A439C54B6E9265B9" section-type="subsequent-section"><enum>101.</enum><header>Short
title</header><text display-inline="no-display-inline">This title may be cited
as the <quote><short-title>Insurance Funds Merger Act of
2005</short-title></quote>.</text>
</section><section commented="no" display-inline="no-display-inline" id="IDB6565A8BDD524E5F8395DC25B7CCEA15" section-type="subsequent-section"><enum>102.</enum><header>Merger of BIF and
SAIF</header>
<subsection commented="no" display-inline="no-display-inline" id="ID5E7EBAF319614BF4904330BF058601EF"><enum>(a)</enum><header>In
general</header>
<paragraph commented="no" display-inline="no-display-inline" id="ID63BA099AAA174E518213324929B3FB35"><enum>(1)</enum><header>Merger</header><text display-inline="yes-display-inline">The Bank Insurance Fund and the Savings
Association Insurance Fund shall be merged into the Deposit Insurance
Fund.</text>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="IDDAF5F27CDF844D9781B9A1F1D46CB98B"><enum>(2)</enum><header>Disposition of
assets and liabilities</header><text display-inline="yes-display-inline">All
assets and liabilities of the Bank Insurance Fund and the Savings Association
Insurance Fund shall be transferred to the Deposit Insurance Fund.</text>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="ID838F5F8156A84EB4879145A3D3C6015B"><enum>(3)</enum><header>No separate
existence</header><text display-inline="yes-display-inline">The separate
existence of the Bank Insurance Fund and the Savings Association Insurance Fund
shall cease on the effective date of the merger thereof under this
section.</text>
</paragraph></subsection><subsection commented="no" display-inline="no-display-inline" id="ID143B1CBEEECC46E19BB01F9E088D7B1E"><enum>(b)</enum><header>Repeal of
outdated merger provision</header><text display-inline="yes-display-inline"><external-xref legal-doc="act" parsable-cite="DIFA96/2704">Section 2704</external-xref> of the
<act-name parsable-cite="DIFA96">Deposit Insurance Funds Act of 1996</act-name>
(<external-xref legal-doc="usc" parsable-cite="usc/12/1821 note">12 U.S.C. 1821
note</external-xref>) is repealed.</text>
</subsection></section><section commented="no" display-inline="no-display-inline" id="ID0D33A368A1C94AFDBF0037587E648B3C" section-type="subsequent-section"><enum>103.</enum><header>Establishment of the
Deposit Insurance Fund</header>
<subsection commented="no" display-inline="no-display-inline" id="ID35365ABF24024217A5CB8FE5FDBCFA91"><enum>(a)</enum><header>In
general</header><text display-inline="yes-display-inline"><external-xref legal-doc="act" parsable-cite="FDIA/11(a)(4)">Section 11(a)(4)</external-xref>
of the <act-name parsable-cite="FDIA">Federal Deposit Insurance Act</act-name>
(<external-xref legal-doc="usc" parsable-cite="usc/12/1821(a)(4)">12 U.S.C.
1821(a)(4)</external-xref>) is amended—</text>
<paragraph commented="no" display-inline="no-display-inline" id="IDDB7B197EDF86482886C5843BEC8CB278"><enum>(1)</enum><text display-inline="yes-display-inline">by redesignating subparagraph (B) as
subparagraph (C);</text>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="ID48B70C85983D44F8B2492245FA22413F"><enum>(2)</enum><text display-inline="yes-display-inline">by striking subparagraph (A) and inserting
the following:</text>
<quoted-block display-inline="no-display-inline" id="ID50D97E5BEF1C43E29CC517A58F87B06C" style="OLC">
<subparagraph commented="no" display-inline="no-display-inline" id="IDD9185F6021B34CC38DC04CF57BDE50CC"><enum>(A)</enum><header>Establishment</header><text display-inline="yes-display-inline">There is established the Deposit Insurance
Fund, which the Corporation shall—</text>
<clause commented="no" display-inline="no-display-inline" id="IDD0D2120792454660BCB253AAF2D9ADA6"><enum>(i)</enum><text display-inline="yes-display-inline">maintain and administer;</text>
</clause><clause commented="no" display-inline="no-display-inline" id="IDC23C04F0185440EF85BA941EA815B2D7"><enum>(ii)</enum><text display-inline="yes-display-inline">use to carry out its insurance purposes, in
the manner provided by this subsection; and</text>
</clause><clause commented="no" display-inline="no-display-inline" id="ID9047FDA8880D40AD88A0499B96A297D2"><enum>(iii)</enum><text display-inline="yes-display-inline">invest in accordance with section
13(a).</text>
</clause></subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="ID94DBE0DEEA134024A5C84C2C0035BD7F"><enum>(B)</enum><header>Uses</header><text display-inline="yes-display-inline">The Deposit Insurance Fund shall be
available to the Corporation for use with respect to Deposit Insurance Fund
members.</text>
</subparagraph><after-quoted-block>;</after-quoted-block></quoted-block>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="ID6BA8A83A70634FC9AD73140027F4B2ED"><enum>(3)</enum><text display-inline="yes-display-inline">by striking <quote>(4)
<header-in-text level="paragraph" style="OLC">General provisions relating to
funds</header-in-text>.—</quote> and inserting the following:</text>
<quoted-block display-inline="no-display-inline" id="ID8F4641436A8844BAA512706BEA5C07EA" style="OLC">
<paragraph commented="no" display-inline="no-display-inline" id="ID0B1B932AFCE84C29BE1DD1DCC377215C"><enum>(4)</enum><header>Establishment
of the Deposit Insurance
Fund</header>
</paragraph><after-quoted-block>;</after-quoted-block></quoted-block>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="IDB0A3CA8DC334420F972CF73659E15703"><enum>(4)</enum><text display-inline="yes-display-inline">in subparagraph (C), as redesignated by
paragraph (1) of this subsection, by striking <quote>Bank Insurance Fund and
the Savings Association Insurance Fund</quote> and inserting <quote>Deposit
Insurance Fund</quote>; and</text>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="ID0DE7DCC26DF240C584A9DA0776DF8E52"><enum>(5)</enum><text display-inline="yes-display-inline">by adding at the end the following:</text>
<quoted-block display-inline="no-display-inline" id="IDAA12A0856EEE4D8683A4A914706608DA" style="OLC">
<subparagraph commented="no" display-inline="no-display-inline" id="ID0C454167447B4AF7AD062025281D4DE1"><enum>(D)</enum><header>Deposits</header><text display-inline="yes-display-inline">All amounts assessed against insured
depository institutions by the Corporation shall be deposited in the Deposit
Insurance
Fund.</text>
</subparagraph><after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph></subsection><subsection commented="no" display-inline="no-display-inline" id="ID9F942D5A786E4DE3895C269C63E09FBE"><enum>(b)</enum><header>Merger-Related
amendments to the <act-name parsable-cite="FDIA">Federal Deposit Insurance
Act</act-name></header>
<paragraph commented="no" display-inline="no-display-inline" id="IDEA7FD7C9F323401BBADDE14F3D17AB55"><enum>(1)</enum><header>Definitions</header><text display-inline="yes-display-inline"><external-xref legal-doc="act" parsable-cite="FDIA/3(y)">Section 3(y)</external-xref> of the
<act-name parsable-cite="FDIA">Federal Deposit Insurance Act</act-name>
(<external-xref legal-doc="usc" parsable-cite="usc/12/1813(y)">12 U.S.C.
1813(y)</external-xref>) is amended to read as follows:</text>
<quoted-block act-name="Federal Deposit Insurance Act" display-inline="no-display-inline" id="IDB95FCC8898124AB4A7367D536BBB7E66" style="OLC">
<subsection commented="no" display-inline="no-display-inline" id="ID35DD632DC52A48C9001F2CED8E6C25C3"><enum>(y)</enum><header>Definitions
relating to the Deposit Insurance Fund</header>
<paragraph commented="no" display-inline="no-display-inline" id="ID81EA8563DA844EA582C6DD6EC6003200"><enum>(1)</enum><header>Deposit
Insurance Fund</header><text display-inline="yes-display-inline">The terms
<term>Deposit Insurance Fund</term> and <term>Fund</term> mean the fund
established under section
11(a)(4).</text>
</paragraph></subsection><after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="ID295E183E0F8341A8AF48C65ED34922D7"><enum>(2)</enum><header>Assessments</header><text display-inline="yes-display-inline"><external-xref legal-doc="act" parsable-cite="FDIA/7">Section 7</external-xref> of the
<act-name parsable-cite="FDIA">Federal Deposit Insurance Act</act-name>
(<external-xref legal-doc="usc" parsable-cite="usc/12/1817">12 U.S.C.
1817</external-xref>) is amended—</text>
<subparagraph commented="no" display-inline="no-display-inline" id="ID2DF353848D8E4BEEB3001C673C7BE600"><enum>(A)</enum><text display-inline="yes-display-inline">by striking subsection
(<italic>l</italic>);</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="ID025493FB2E964F4995FF219C3EFDB043"><enum>(B)</enum><text display-inline="yes-display-inline">by redesignating subsections (m) and (n) as
subsections (<italic>l</italic>) and (m), respectively; and</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="ID200A24FF15E1457F9C1F7491B5A287AB"><enum>(C)</enum><text display-inline="yes-display-inline">in subsection (b), by striking paragraph
(2) and inserting the following:</text>
<quoted-block display-inline="no-display-inline" id="IDC863883255D14BB187DE9F61FDD1DF54" style="OLC">
<paragraph commented="no" display-inline="no-display-inline" id="ID65520AC6AFD544AAAEE042C42043B3A8"><enum>(2)</enum><header>Assessments</header>
<subparagraph commented="no" display-inline="no-display-inline" id="IDD3122227445E41029209319391DB6019"><enum>(A)</enum><header>In
general</header><text display-inline="yes-display-inline">Each insured
depository institution shall pay assessments to the Corporation in such amounts
and at such time or times as the Board of Directors may require.</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="ID9470D8B451A543CC80F48E9EE12D64EA"><enum>(B)</enum><header>Factors to be
considered</header><text display-inline="yes-display-inline">In setting
assessments for insured depository institutions, the Board of Directors shall
consider—</text>
<clause commented="no" display-inline="no-display-inline" id="ID1760CF3369AA42A6BAC23614EFF49F44"><enum>(i)</enum><text display-inline="yes-display-inline">the estimated operating expenses of the
Deposit Insurance Fund;</text>
</clause><clause commented="no" display-inline="no-display-inline" id="ID70CB000727EC480F992373ABF4F09363"><enum>(ii)</enum><text display-inline="yes-display-inline">the estimated case resolution expenditures
and income of the Deposit Insurance Fund;</text>
</clause><clause commented="no" display-inline="no-display-inline" id="ID3EF75BC8B84849CEB6868081A6E90079"><enum>(iii)</enum><text display-inline="yes-display-inline">the projected effects of assessments on the
earnings and capital of insured depository institutions;</text>
</clause><clause commented="no" display-inline="no-display-inline" id="ID10C63BC5D5AA4563800094E42B44A626"><enum>(iv)</enum><text display-inline="yes-display-inline">the need to maintain a risk-based
assessment system under paragraph (1); and</text>
</clause><clause commented="no" display-inline="no-display-inline" id="IDA44C2C61CA8B46F19D55004EC078E76E"><enum>(v)</enum><text display-inline="yes-display-inline">any other factors that the Board of
Directors may determine to be appropriate.</text>
</clause></subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="ID26FF985974B54477833B0677AA000934"><enum>(C)</enum><header>Notice of
assessments</header><text display-inline="yes-display-inline">The Corporation
shall notify each insured depository institution of assessments charged to that
institution.</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="ID8A9DDA8586F0428ABB653FD7E4F4E45B"><enum>(D)</enum><header>Newly insured
institutions</header><text display-inline="yes-display-inline">To facilitate
the administration of this section, the Board of Directors may waive the
requirements of paragraphs (1) and (2) for any assessment period in which a
depository institution becomes
insured.</text>
</subparagraph></paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</subparagraph></paragraph><paragraph commented="no" display-inline="no-display-inline" id="ID7506DCEDEFF8422DAFE5C2D3654F7C4D"><enum>(3)</enum><header>Repeal of
separate funds provisions</header><text display-inline="yes-display-inline"><external-xref legal-doc="act" parsable-cite="FDIA/11(a)">Section 11(a)</external-xref> of the
<act-name parsable-cite="FDIA">Federal Deposit Insurance Act</act-name>
(<external-xref legal-doc="usc" parsable-cite="usc/12/1821(a)">12 U.S.C.
1821(a)</external-xref>) is amended—</text>
<subparagraph commented="no" display-inline="no-display-inline" id="IDA64FDDBF80934C7FBC311FEA882672EF"><enum>(A)</enum><text display-inline="yes-display-inline">by striking paragraphs (5), (6), and (7);
and</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="ID96430120099E4F9EB242069461D3C47D"><enum>(B)</enum><text display-inline="yes-display-inline">by redesignating paragraph (8) as paragraph
(5).</text>
</subparagraph></paragraph></subsection></section><section commented="no" display-inline="no-display-inline" id="IDF5FEA8A7299845E994C6DDAA8D3E006B" section-type="subsequent-section"><enum>104.</enum><header>Technical and
conforming amendments to the <act-name parsable-cite="FDIA">Federal Deposit
Insurance Act</act-name></header><text display-inline="no-display-inline">The
<act-name parsable-cite="FDIA">Federal Deposit Insurance Act</act-name>
(<external-xref legal-doc="usc" parsable-cite="usc/12/1811">12 U.S.C.
1811</external-xref> et seq.) is amended—</text>
<paragraph commented="no" display-inline="no-display-inline" id="IDD8C7C984440948298D601DEC5652E605"><enum>(1)</enum><text display-inline="yes-display-inline">in section 3(a)(1) (<external-xref legal-doc="usc" parsable-cite="usc/12/1813(a)(1)">12 U.S.C.
1813(a)(1)</external-xref>), by striking subparagraph (B) and inserting the
following:</text>
<quoted-block display-inline="no-display-inline" id="ID569398757C234FC281EDF2ECE5DE47D6" style="OLC">
<subparagraph commented="no" display-inline="no-display-inline" id="IDEFBA352FE9524456BDE039BE3C73ADB0"><enum>(B)</enum><text display-inline="yes-display-inline">includes any former savings
association.</text>
</subparagraph><after-quoted-block>;</after-quoted-block></quoted-block>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="IDAF7ADC9C1C664DE7AC32D4427BEE308F"><enum>(2)</enum><text display-inline="yes-display-inline">in section 5(b)(5) (<external-xref legal-doc="usc" parsable-cite="usc/12/1815(b)(5)">12 U.S.C.
1815(b)(5)</external-xref>), by striking <quote>the Bank Insurance Fund or the
Savings Association Insurance Fund;</quote> and inserting <quote>the Deposit
Insurance Fund,</quote>;</text>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="ID5014C723E25D424C84B2B9E48F9EC6E8"><enum>(3)</enum><text display-inline="yes-display-inline">in section 5(c)(4), by striking
<quote>deposit insurance fund</quote> and inserting <quote>Deposit Insurance
Fund</quote>;</text>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="ID3569FF53685A4566B0EA5E78713FBF85"><enum>(4)</enum><text display-inline="yes-display-inline">in section 5(d) (<external-xref legal-doc="usc" parsable-cite="usc/12/1815(d)">12 U.S.C.
1815(d)</external-xref>), by striking paragraphs (2) and (3);</text>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="ID84950A010D0C4ED2A5099857E309CED3"><enum>(5)</enum><text display-inline="yes-display-inline">in section 5(d)(1) (<external-xref legal-doc="usc" parsable-cite="usc/12/1815(d)(1)">12 U.S.C.
1815(d)(1)</external-xref>)—</text>
<subparagraph commented="no" display-inline="no-display-inline" id="ID20F2C735453541BE8E520472C9AA9E9D"><enum>(A)</enum><text display-inline="yes-display-inline">in subparagraph (A), by striking
<quote>reserve ratios in the Bank Insurance Fund and the Savings Association
Insurance Fund as required by section 7</quote> and inserting <quote>the
reserve ratio of the Deposit Insurance Fund</quote>;</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="IDE6A22C4D89D34A15BCFE605C6B00F6CF"><enum>(B)</enum><text display-inline="yes-display-inline">by striking subparagraph (B) and inserting
the following:</text>
<quoted-block display-inline="no-display-inline" id="IDC713A98D3BD0402300FE00BE00D373CB" style="OLC">
<paragraph commented="no" display-inline="no-display-inline" id="ID811D4342EDC34944A137A1BBABBA61BF"><enum>(2)</enum><header>Fee credited to
the Deposit Insurance Fund</header><text display-inline="yes-display-inline">The fee paid by the depository institution
under paragraph (1) shall be credited to the Deposit Insurance
Fund.</text>
</paragraph><after-quoted-block>;</after-quoted-block></quoted-block>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="IDE3364046012B46CDAC05873875C03364"><enum>(C)</enum><text display-inline="yes-display-inline">by striking <quote><header-in-text level="paragraph" style="OLC">institutions</header-in-text>.—</quote> and all
that follows through <quote><header-in-text level="paragraph" style="OLC">general</header-in-text>.—</quote> and inserting
<quote><header-in-text level="paragraph" style="OLC">institutions</header-in-text>.—</quote>; and</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="ID33E5BD74E9994053B496851005462381"><enum>(D)</enum><text display-inline="yes-display-inline">by redesignating subparagraph (C) as
paragraph (3) and moving the margin 2 ems to the left;</text>
</subparagraph></paragraph><paragraph commented="no" display-inline="no-display-inline" id="ID8684BF552A3E44B1A15BEEA6A5C67191"><enum>(6)</enum><text display-inline="yes-display-inline">in section 5(e) (<external-xref legal-doc="usc" parsable-cite="usc/12/1815(e)">12 U.S.C.
1815(e)</external-xref>)—</text>
<subparagraph commented="no" display-inline="no-display-inline" id="IDCD3E7CA48C9F431E91CF828EC9D2EE06"><enum>(A)</enum><text display-inline="yes-display-inline">in paragraph (5)(A), by striking
<quote>Bank Insurance Fund or the Savings Association Insurance Fund</quote>
and inserting <quote>Deposit Insurance Fund</quote>;</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="IDF6A6464E6F644A65B22959953462E970"><enum>(B)</enum><text display-inline="yes-display-inline">by striking paragraph (6); and</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="IDB5BAB7B0A5EC410CA81C01384FAA0035"><enum>(C)</enum><text display-inline="yes-display-inline">by redesignating paragraphs (7), (8), and
(9) as paragraphs (6), (7), and (8), respectively;</text>
</subparagraph></paragraph><paragraph commented="no" display-inline="no-display-inline" id="IDE89925E6FF0342D28985B47C75BF957F"><enum>(7)</enum><text display-inline="yes-display-inline">in section 6(5) (<external-xref legal-doc="usc" parsable-cite="usc/12/1816(5)">12 U.S.C.
1816(5)</external-xref>), by striking <quote>Bank Insurance Fund or the Savings
Association Insurance Fund</quote> and inserting <quote>Deposit Insurance
Fund</quote>;</text>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="ID5D7C94CB451E4DDD919DCF2CC4435930"><enum>(8)</enum><text display-inline="yes-display-inline">in section 7(a)(3) (<external-xref legal-doc="usc" parsable-cite="usc/12/1817(a)(3)">12 U.S.C.
1817(a)(3)</external-xref>)—</text>
<subparagraph commented="no" display-inline="no-display-inline" id="ID44CE9DEEB5124FF59347A35D90F1914B"><enum>(A)</enum><text display-inline="yes-display-inline">by striking <quote>in July</quote>;
and</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="ID2BF380B2226C4E76B587E639A8A1BFDE"><enum>(B)</enum><text display-inline="yes-display-inline">by striking <quote>in
January</quote>;</text>
</subparagraph></paragraph><paragraph commented="no" display-inline="no-display-inline" id="ID681EC05F8F894307A4C17620C187D876"><enum>(9)</enum><text display-inline="yes-display-inline">in section 7(b) (<external-xref legal-doc="usc" parsable-cite="usc/12/1817(b)">12 U.S.C.
1817(b)</external-xref>)—</text>
<subparagraph commented="no" display-inline="no-display-inline" id="IDA389F1EB33AD434C8EAB977EEF3D3C85"><enum>(A)</enum><text display-inline="yes-display-inline">in paragraph (1)—</text>
<clause commented="no" display-inline="no-display-inline" id="IDF5495FAFBA104598BA875C9ED7E3A221"><enum>(i)</enum><text display-inline="yes-display-inline">in subparagraph (B)(ii), by striking
<quote>institution’s semiannual assessment</quote> and inserting
<quote>assessments for that institution under subsection (b)</quote>;
and</text>
</clause><clause commented="no" display-inline="no-display-inline" id="ID37B34A1FCE6B4D6CA570E70017B7C616"><enum>(ii)</enum><text display-inline="yes-display-inline">in subparagraph (C)—</text>
<subclause commented="no" display-inline="no-display-inline" id="ID651C4A7DF7FF4B2891CC9C47FF00B6B5"><enum>(I)</enum><text display-inline="yes-display-inline">by striking <quote>a depository
institution’s semiannual assessment</quote> and inserting <quote>assessments
for a depository institution under subsection (b)</quote>; and</text>
</subclause><subclause commented="no" display-inline="no-display-inline" id="ID0EFA9F4F226742A1A446D5B6628ED16F"><enum>(II)</enum><text display-inline="yes-display-inline">by striking <quote>deposit insurance
fund</quote> each place that term appears and inserting <quote>Deposit
Insurance Fund</quote>;</text>
</subclause></clause></subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="IDD9983F43408446EFA3DCEB265B13577B"><enum>(B)</enum><text display-inline="yes-display-inline">in paragraph (1)(D), by striking
<quote>each deposit insurance fund</quote> and inserting <quote>the Deposit
Insurance Fund</quote>;</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="ID97BB369CF95542CB90D1DCBC2DBB647F"><enum>(C)</enum><text display-inline="yes-display-inline">by striking paragraph (4) and redesignating
paragraphs (5) through (7) as paragraphs (4) through (6), respectively;</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="ID9AF4B16224EF45A9B9A29282BDD4D125"><enum>(D)</enum><text display-inline="yes-display-inline">in paragraph (5), as so
redesignated—</text>
<clause commented="no" display-inline="no-display-inline" id="ID358CACAF714540BEA34780BBF3B5C5B3"><enum>(i)</enum><text display-inline="yes-display-inline">by striking <quote>any such
assessment</quote> and inserting <quote>any such assessment is
necessary</quote>;</text>
</clause><clause commented="no" display-inline="no-display-inline" id="IDC6F614AFAB364D27B77C00FC4DBE4F19"><enum>(ii)</enum><text display-inline="yes-display-inline">by striking subparagraph (B);</text>
</clause><clause commented="no" display-inline="no-display-inline" id="ID891DD6A9D09E498E8C088F1649B1EA00"><enum>(iii)</enum><text display-inline="yes-display-inline">in subparagraph (A)—</text>
<subclause commented="no" display-inline="no-display-inline" id="ID3C1170A2E03D46909632AFC625083E63"><enum>(I)</enum><text display-inline="yes-display-inline">by striking <quote>(A) is
necessary—</quote>;</text>
</subclause><subclause commented="no" display-inline="no-display-inline" id="ID08B4EC4F6D9747C5BCC04D212B0000E1"><enum>(II)</enum><text display-inline="yes-display-inline">by striking <quote>Bank Insurance Fund
members</quote> and inserting <quote>insured depository institutions</quote>;
and</text>
</subclause><subclause commented="no" display-inline="no-display-inline" id="ID1875DD3E587F4B0089B116F45B4C29B2"><enum>(III)</enum><text display-inline="yes-display-inline">by redesignating clauses (i), (ii), and
(iii) as subparagraphs (A), (B), and (C), respectively, and moving the margins
2 ems to the left; and</text>
</subclause></clause><clause commented="no" display-inline="no-display-inline" id="IDE5BED5119A764E3BA2663FA53D7B081E"><enum>(iv)</enum><text display-inline="yes-display-inline">in subparagraph (C) (as
redesignated)—</text>
<subclause commented="no" display-inline="no-display-inline" id="ID0B2084F0191448EBA57700555E26F7E7"><enum>(I)</enum><text display-inline="yes-display-inline">by inserting <quote>that</quote> before
<quote>the Corporation</quote>; and</text>
</subclause><subclause commented="no" display-inline="no-display-inline" id="IDDAF391924BB9430F8F2D63320066C7A0"><enum>(II)</enum><text display-inline="yes-display-inline">by striking <quote>; and</quote> and
inserting a period; and</text>
</subclause></clause></subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="ID27EDC842A33B4A9D84C5A4B054CDC72F"><enum>(E)</enum><text display-inline="yes-display-inline">in paragraph (6), as so redesignated, by
striking <quote>semiannual assessment</quote> and inserting <quote>assessment
under subsection (b)</quote>;</text>
</subparagraph></paragraph><paragraph commented="no" display-inline="no-display-inline" id="IDA3E8C7A22EEC44BEA1C1A28796FD3C5F"><enum>(10)</enum><text display-inline="yes-display-inline">in section 7(c) (<external-xref legal-doc="usc" parsable-cite="usc/12/1817(c)">12 U.S.C.
1817(c)</external-xref>)—</text>
<subparagraph commented="no" display-inline="no-display-inline" id="ID271D16321E3B4D9D80F56F899B7D559E"><enum>(A)</enum><text display-inline="yes-display-inline">in paragraph (1), by striking
<quote>institution’s semiannual assessment</quote> and inserting
<quote>assessments for that institution under subsection (b)</quote>;</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="IDB08EBA1F80894DF39B59F436AA372479"><enum>(B)</enum><text display-inline="yes-display-inline">by striking paragraphs (2) and (3);
and</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="IDEF715740AEBF4B0D9FE19FFAD437D0FB"><enum>(C)</enum><text display-inline="yes-display-inline">by redesignating paragraph (4) as paragraph
(2); and</text>
</subparagraph></paragraph><paragraph commented="no" display-inline="no-display-inline" id="ID92E9CC520C0B458CBF6547229E2D00A7"><enum>(11)</enum><text display-inline="yes-display-inline">in section 7(j)(7)(F) (<external-xref legal-doc="usc" parsable-cite="usc/12/1817(j)(7)(F)">12 U.S.C.
1817(j)(7)(F)</external-xref>), by striking <quote>Bank Insurance Fund or the
Savings Association Insurance Fund</quote> and inserting <quote>Deposit
Insurance Fund</quote>;</text>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="IDF9587D9E7A484042A5ED7EFED5D3C54F"><enum>(12)</enum><text display-inline="yes-display-inline">in section 8 (<external-xref legal-doc="usc" parsable-cite="usc/12/1818">12 U.S.C.
1818</external-xref>)—</text>
<subparagraph commented="no" display-inline="no-display-inline" id="IDB6F3EB5044D34410A1D2F896C8C541CA"><enum>(A)</enum><text display-inline="yes-display-inline">in subsection (p), by striking
<quote>semiannual</quote>;</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="IDBC25460BECF64811A47D00AA1BABC5E7"><enum>(B)</enum><text display-inline="yes-display-inline">in subsection (q), by striking
<quote>semiannual</quote> and inserting <quote>assessment</quote>; and</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="IDAD4B62FD455742199437C5FF942DFE39"><enum>(C)</enum><text display-inline="yes-display-inline">in subsection (t)(2)(C), by striking
<quote>deposit insurance fund</quote> and inserting <quote>Deposit Insurance
Fund</quote>;</text>
</subparagraph></paragraph><paragraph commented="no" display-inline="no-display-inline" id="ID6C5A148DF0ED4D7F91F90071486C3965"><enum>(13)</enum><text display-inline="yes-display-inline">in section 11 (<external-xref legal-doc="usc" parsable-cite="usc/12/1821">12 U.S.C. 1821</external-xref>), by
striking <quote>deposit insurance fund</quote> each place that term appears and
inserting <quote>Deposit Insurance Fund</quote>;</text>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="ID29DCA328DD704A5E8012FB6C43CF51B0"><enum>(14)</enum><text display-inline="yes-display-inline">in section 11(f)(1) (<external-xref legal-doc="usc" parsable-cite="usc/12/1821(f)(1)">12 U.S.C.
1821(f)(1)</external-xref>), by striking <quote>, except that—</quote> and all
that follows through the end of the paragraph and inserting a period;</text>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="IDFE70DA71AD954EFABF6CF000CF8BFF45"><enum>(15)</enum><text display-inline="yes-display-inline">in section 11(i)(3) (<external-xref legal-doc="usc" parsable-cite="usc/12/1821(i)(3)">12 U.S.C.
1821(i)(3)</external-xref>)—</text>
<subparagraph commented="no" display-inline="no-display-inline" id="ID4DE6602A7D6743029EE0E5315F1E7DB2"><enum>(A)</enum><text display-inline="yes-display-inline">by striking subparagraph (B);</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="ID2FDA6F13B93E4873836D9631FC891E2B"><enum>(B)</enum><text display-inline="yes-display-inline">by redesignating subparagraph (C) as
subparagraph (B); and</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="IDF246351D7FE84CD9A26244B3232C2422"><enum>(C)</enum><text display-inline="yes-display-inline">in subparagraph (B) (as redesignated), by
striking <quote>subparagraphs (A) and (B)</quote> and inserting
<quote>subparagraph (A)</quote>;</text>
</subparagraph></paragraph><paragraph commented="no" display-inline="no-display-inline" id="IDBD9520E158FB46BFA79B791D8124005F"><enum>(16)</enum><text display-inline="yes-display-inline">in section 11(p)(2)(B) (<external-xref legal-doc="usc" parsable-cite="usc/12/1821(p)(2)(B)">12 U.S.C.
1821(p)(2)(B)</external-xref>), by striking <quote>institution, any</quote> and
inserting <quote>institution, the</quote>;</text>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="ID9426F92655BE4CE999639148727F00CB"><enum>(17)</enum><text display-inline="yes-display-inline">in section 12(f)(4)(E)(iv) (<external-xref legal-doc="usc" parsable-cite="usc/12/1822(f)(4)(E)(iv)">12 U.S.C.
1822(f)(4)(E)(iv)</external-xref>), by striking <quote>Federal deposit
insurance funds</quote> and inserting <quote>the Deposit Insurance Fund, or any
predecessor deposit insurance fund</quote>;</text>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="ID5E17A7B665E4421F99F2F7E39ECAAE31"><enum>(18)</enum><text display-inline="yes-display-inline">in section 13 (<external-xref legal-doc="usc" parsable-cite="usc/12/1823">12 U.S.C.
1823</external-xref>)—</text>
<subparagraph commented="no" display-inline="no-display-inline" id="IDA8757EF02B5F4C96A5B77BDFDA633913"><enum>(A)</enum><text display-inline="yes-display-inline">by striking <quote>deposit insurance
fund</quote> each place that term appears and inserting <quote>Deposit
Insurance Fund</quote>;</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="ID5A5CCFFF18A4475E8D15DE8D679E7975"><enum>(B)</enum><text display-inline="yes-display-inline">in subsection (a)(1), by striking
<quote>Bank Insurance Fund, the Savings Association Insurance Fund,</quote> and
inserting <quote>Deposit Insurance Fund</quote>;</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="ID23A1CBFFB0F5469F8EE7EBD8CA5FBA00"><enum>(C)</enum><text display-inline="yes-display-inline">in subsection (c)(4)(E)—</text>
<clause commented="no" display-inline="no-display-inline" id="IDFAFBDA83628E4FB5AFB6E16988F724D9"><enum>(i)</enum><text display-inline="yes-display-inline">in the subparagraph heading, by striking
<quote><header-in-text level="paragraph" style="OLC">funds</header-in-text></quote> and inserting <quote><header-in-text level="paragraph" style="OLC">fund</header-in-text></quote>; and</text>
</clause><clause commented="no" display-inline="no-display-inline" id="ID6CC9820147CA4C76BD14F0B4444BE4D5"><enum>(ii)</enum><text display-inline="yes-display-inline">in clause (i), by striking <quote>any
insurance fund</quote> and inserting <quote>the Deposit Insurance
Fund</quote>;</text>
</clause></subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="ID4AFB8EE559ED437797275FFFA54DF718"><enum>(D)</enum><text display-inline="yes-display-inline">in subsection (c)(4)(G)(ii)—</text>
<clause commented="no" display-inline="no-display-inline" id="ID2E74BAB3C5304A63B84C7B1CA278EFB6"><enum>(i)</enum><text display-inline="yes-display-inline">by striking <quote>appropriate insurance
fund</quote> and inserting <quote>Deposit Insurance Fund</quote>;</text>
</clause><clause commented="no" display-inline="no-display-inline" id="IDA2064717EB6A446DAC49F9A1E5216EAD"><enum>(ii)</enum><text display-inline="yes-display-inline">by striking <quote>the members of the
insurance fund (of which such institution is a member)</quote> and inserting
<quote>insured depository institutions</quote>;</text>
</clause><clause commented="no" display-inline="no-display-inline" id="ID4E03536F725045148FCB74F2CDA7E600"><enum>(iii)</enum><text display-inline="yes-display-inline">by striking <quote>each member’s</quote>
and inserting <quote>each insured depository institution’s</quote>;</text>
</clause><clause commented="no" display-inline="no-display-inline" id="IDF8A53C2B06BB474C9840B504F42ED7E4"><enum>(iv)</enum><text display-inline="yes-display-inline">by striking <quote>the member’s</quote>
each place that term appears and inserting <quote>the institution’s</quote>;
and</text>
</clause><clause commented="no" display-inline="no-display-inline" id="IDE90AEB2E311048178490B75B692E00CF"><enum>(v)</enum><text display-inline="yes-display-inline">in subclause (II), by striking
<quote>semiannual</quote> and inserting <quote>applicable
assessment</quote>;</text>
</clause></subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="IDAD12D948BB6E42E896B705D7414B1791"><enum>(E)</enum><text display-inline="yes-display-inline">in subsection (c), by striking paragraph
(11);</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="ID3927A5DA223D4932823D5900E63B63B1"><enum>(F)</enum><text display-inline="yes-display-inline">in subsection (h), by striking <quote>Bank
Insurance Fund</quote> and inserting <quote>Deposit Insurance
Fund</quote>;</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="IDBF5D97E4A37D4AA38BD253D072DBF029"><enum>(G)</enum><text display-inline="yes-display-inline">in subsection (k)(4)(B)(i), by striking
<quote>Savings Association Insurance Fund member</quote> and inserting
<quote>savings association</quote>;</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="IDE40F7C7869374F2AB36379E46F5DC4D7"><enum>(H)</enum><text display-inline="yes-display-inline">in subsection (k)(5)—</text>
<clause commented="no" display-inline="no-display-inline" id="IDF28C19F0CA77447EAC2699E27200F8BF"><enum>(i)</enum><text display-inline="yes-display-inline">in subparagraph (A), by striking
<quote>Savings Association Insurance Fund members</quote> and inserting
<quote>savings associations</quote>;</text>
</clause><clause commented="no" display-inline="no-display-inline" id="ID4E2F91400D424E4DA3C5372559DA9645"><enum>(ii)</enum><text display-inline="yes-display-inline">by striking <quote>member’s</quote> each
place that term appears and inserting <quote>savings association’s</quote>;
and</text>
</clause><clause commented="no" display-inline="no-display-inline" id="ID611D3D03752045F7BCAD31C93158CABE"><enum>(iii)</enum><text display-inline="yes-display-inline">by striking <quote>member</quote> each
place that term appears and inserting <quote>savings
association</quote>;</text>
</clause></subparagraph></paragraph><paragraph commented="no" display-inline="no-display-inline" id="IDB54723F268C34519A662593BD040043E"><enum>(19)</enum><text display-inline="yes-display-inline">in section 14(a) (<external-xref legal-doc="usc" parsable-cite="usc/12/1824(a)">12 U.S.C.
1824(a)</external-xref>), in the 5th sentence—</text>
<subparagraph commented="no" display-inline="no-display-inline" id="IDAD58865F472A4DE48D381B85D172009F"><enum>(A)</enum><text display-inline="yes-display-inline">by striking <quote>Bank Insurance Fund or
the Savings Association Insurance Fund</quote> and inserting <quote>Deposit
Insurance Fund</quote>; and</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="ID292BE3AE7D43428A94671D95814C24F7"><enum>(B)</enum><text display-inline="yes-display-inline">by striking <quote>each such fund</quote>
and inserting <quote>the Deposit Insurance Fund</quote>;</text>
</subparagraph></paragraph><paragraph commented="no" display-inline="no-display-inline" id="IDE295BFEE9CBB438F885BE672B5100068"><enum>(20)</enum><text display-inline="yes-display-inline">in section 14(b) (<external-xref legal-doc="usc" parsable-cite="usc/12/1824(b)">12 U.S.C.
1824(b)</external-xref>), by striking <quote>Bank Insurance Fund or Savings
Association Insurance Fund</quote> and inserting <quote>Deposit Insurance
Fund</quote>;</text>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="ID324445B1CD094AB388D091E0E33EAEC0"><enum>(21)</enum><text display-inline="yes-display-inline">in section 14(c) (<external-xref legal-doc="usc" parsable-cite="usc/12/1824(c)">12 U.S.C.
1824(c)</external-xref>)—</text>
<subparagraph commented="no" display-inline="no-display-inline" id="ID7B05A1C8BC8F4FF9A200F2B78FED4F65"><enum>(A)</enum><text display-inline="yes-display-inline">in paragraph (2)(A), by striking
<quote>(7)</quote> and inserting <quote>(6)</quote>; and</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="ID8905B15B8BB14BE0A56B0200E5F027F8"><enum>(B)</enum><text display-inline="yes-display-inline">by striking paragraph (3);</text>
</subparagraph></paragraph><paragraph commented="no" display-inline="no-display-inline" id="ID815FC80A50B44D2DBC17151E00A9B925"><enum>(22)</enum><text display-inline="yes-display-inline">in section 14(d) (<external-xref legal-doc="usc" parsable-cite="usc/12/1824(d)">12 U.S.C.
1824(d)</external-xref>)—</text>
<subparagraph commented="no" display-inline="no-display-inline" id="ID8E08AFB24C4844C59613DEC8C7E876F0"><enum>(A)</enum><text display-inline="yes-display-inline">by striking <quote>Bank Insurance Fund
member</quote> each place that term appears and inserting <quote>insured
depository institution</quote>;</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="ID68C0C7FFE2084F088045A44881852CA6"><enum>(B)</enum><text display-inline="yes-display-inline">by striking <quote>Bank Insurance Fund
members</quote> each place that term appears and inserting <quote>insured
depository institutions</quote>;</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="ID9E070A6416514DD5A9FB24C6AC7F703B"><enum>(C)</enum><text display-inline="yes-display-inline">by striking <quote>Bank Insurance
Fund</quote> each place that term appears (other than in connection with a
reference to a Bank Insurance Fund member or members) and inserting
<quote>Deposit Insurance Fund</quote>;</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="ID781F7A0D2EBD4BB6A5D4025F76973429"><enum>(D)</enum><text display-inline="yes-display-inline">by striking the subsection heading and
inserting the following:</text>
<quoted-block display-inline="no-display-inline" id="ID916D5A4D71934032B2319779D500CF25" style="OLC">
<subsection commented="no" display-inline="no-display-inline" id="ID13BF1529AEEF4E53AC5432FE2513BE13"><enum>(d)</enum><header>Borrowing for
the Deposit Insurance Fund from insured depository
institutions</header>
</subsection><after-quoted-block>;</after-quoted-block></quoted-block>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="ID0CB2B01827644D21B1227E909292731C"><enum>(E)</enum><text display-inline="yes-display-inline">in paragraph (3), in the paragraph heading,
by striking <quote><header-in-text level="paragraph" style="OLC">bif</header-in-text></quote> and inserting <quote><header-in-text level="paragraph" style="OLC">the deposit insurance
fund</header-in-text></quote>; and</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="IDB647CC5A1D1B427F003FEC156E4B1D51"><enum>(F)</enum><text display-inline="yes-display-inline">in paragraph (5), in the paragraph heading,
by striking <quote><header-in-text level="paragraph" style="OLC">bif
members</header-in-text></quote> and inserting <quote><header-in-text level="paragraph" style="OLC">insured depository
institutions</header-in-text></quote>;</text>
</subparagraph></paragraph><paragraph commented="no" display-inline="no-display-inline" id="ID1AD545855D5A4B1BB628DCD2DF28768E"><enum>(23)</enum><text display-inline="yes-display-inline">in section 14 (<external-xref legal-doc="usc" parsable-cite="usc/12/1824">12 U.S.C. 1824</external-xref>) by
adding at the end the following:</text>
<quoted-block display-inline="no-display-inline" id="IDED87FA9FEBA249139F87CE91874BABE9" style="OLC">
<subsection commented="no" display-inline="no-display-inline" id="ID36D6E0B2199B47F6AE9EEE12B65DA9C7"><enum>(e)</enum><header>Borrowing for
the Deposit Insurance Fund from Federal home loan banks</header>
<paragraph commented="no" display-inline="no-display-inline" id="ID207032D7C7EA4A48A618F245293F4EBE"><enum>(1)</enum><header>In
general</header><text display-inline="yes-display-inline">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.</text>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="ID5AF90CE45BF24D3385E26CA9F7A5FFBE"><enum>(2)</enum><header>Terms and
conditions</header><text display-inline="yes-display-inline">Any loan from any
Federal home loan bank under paragraph (1) to the Deposit Insurance Fund
shall—</text>
<subparagraph commented="no" display-inline="no-display-inline" id="IDDE4A02746C134316B26C8621008146B4"><enum>(A)</enum><text display-inline="yes-display-inline">bear a rate of interest of not less than
the current marginal cost of funds to that bank, taking into account the
maturities involved;</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="IDC16141502AF448B59379AA5C523DFF38"><enum>(B)</enum><text display-inline="yes-display-inline">be adequately secured, as determined by the
Federal Housing Finance Board; and</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="IDCA50C6CF4A0B401A9D1EAF634264E36F"><enum>(C)</enum><text display-inline="yes-display-inline">be a direct liability of the Deposit
Insurance
Fund.</text>
</subparagraph></paragraph></subsection><after-quoted-block>;</after-quoted-block></quoted-block>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="IDD26D9FE562454ED2BFCBE7BEEE63E0D3"><enum>(24)</enum><text display-inline="yes-display-inline">in section 15(c)(5) (<external-xref legal-doc="usc" parsable-cite="usc/12/1825(c)(5)">12 U.S.C.
1825(c)(5)</external-xref>)—</text>
<subparagraph commented="no" display-inline="no-display-inline" id="ID73E0D0084D55411DAB10D4FA36BBBFFE"><enum>(A)</enum><text display-inline="yes-display-inline">by striking <quote>the Bank Insurance Fund
or Savings Association Insurance Fund, respectively</quote> each place that
term appears and inserting <quote>the Deposit Insurance Fund</quote>;
and</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="ID4FD1DC5614534286BA8E32B5B78D7717"><enum>(B)</enum><text display-inline="yes-display-inline">in subparagraph (B), by striking <quote>the
Bank Insurance Fund or the Savings Association Insurance Fund,
respectively</quote> and inserting <quote>the Deposit Insurance
Fund</quote>;</text>
</subparagraph></paragraph><paragraph commented="no" display-inline="no-display-inline" id="ID063059172BAE4113007C957DE04CC570"><enum>(25)</enum><text display-inline="yes-display-inline">in section 17(a) (<external-xref legal-doc="usc" parsable-cite="usc/12/1827(a)">12 U.S.C.
1827(a)</external-xref>)—</text>
<subparagraph commented="no" display-inline="no-display-inline" id="ID860430E10E7A42029300387E713E134F"><enum>(A)</enum><text display-inline="yes-display-inline">in the subsection heading, by striking
<quote><header-in-text level="subsection" style="OLC">BIF,
SAIF,</header-in-text></quote> and inserting <quote><header-in-text level="subsection" style="OLC">the Deposit Insurance
Fund</header-in-text></quote>; and</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="IDB4D2DF454EEF42EF9B2F311206F355C2"><enum>(B)</enum><text display-inline="yes-display-inline">in paragraph (1)—</text>
<clause commented="no" display-inline="no-display-inline" id="ID133FC9F138FD4CF9886E3583005F5355"><enum>(i)</enum><text display-inline="yes-display-inline">by striking <quote>the Bank Insurance Fund,
the Savings Association Insurance Fund,</quote> each place that term appears
and inserting <quote>the Deposit Insurance Fund</quote>; and</text>
</clause><clause commented="no" display-inline="no-display-inline" id="IDC153E2FDA13A43A2BC9C28838F8E51CD"><enum>(ii)</enum><text display-inline="yes-display-inline">in subparagraph (D), by striking
<quote>each insurance fund</quote> and inserting <quote>the
Fund</quote>;</text>
</clause></subparagraph></paragraph><paragraph commented="no" display-inline="no-display-inline" id="ID4EACD660DD314883A100DB2FE7F20881"><enum>(26)</enum><text display-inline="yes-display-inline">in section 17(d) (<external-xref legal-doc="usc" parsable-cite="usc/12/1827(d)">12 U.S.C.
1827(d)</external-xref>), by striking <quote>, the Bank Insurance Fund, the
Savings Association Insurance Fund,</quote> each place that term appears and
inserting <quote>the Deposit Insurance Fund</quote>;</text>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="ID9C55166A7D9843F4B8B24C00C899076E"><enum>(27)</enum><text display-inline="yes-display-inline">in section 18(m) (<external-xref legal-doc="usc" parsable-cite="usc/12/1828(m)">12 U.S.C.
1828(m)</external-xref>)—</text>
<subparagraph commented="no" display-inline="no-display-inline" id="ID9D23A61311924F2AB3268CCA14FEF211"><enum>(A)</enum><text display-inline="yes-display-inline">in paragraph (2), in the matter preceding
subparagraph (A), by striking the colon and inserting a dash;</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="ID39975FC15B944E16BCF31B81370076F4"><enum>(B)</enum><text display-inline="yes-display-inline">in paragraph (3)(A)—</text>
<clause commented="no" display-inline="no-display-inline" id="IDA041E96AA1B64B5DB154B8B45B2B495E"><enum>(i)</enum><text display-inline="yes-display-inline">by striking <quote>poses a serious threat
to the Savings Association Insurance Fund</quote> and inserting <quote>of an
insured savings association poses a serious threat to the Deposit Insurance
Fund</quote>; and</text>
</clause><clause commented="no" display-inline="no-display-inline" id="ID5B66AA1A4CB6466383F5203BDAA8E966"><enum>(ii)</enum><text display-inline="yes-display-inline">by striking <quote>Savings Association
Insurance Fund member</quote> and inserting <quote>insured savings
association</quote>; and</text>
</clause></subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="ID5C11F01292B24F09B186EAAE7F3CE4BA"><enum>(C)</enum><text display-inline="yes-display-inline">in paragraph (3)(C), by striking
<quote>Savings Association Insurance Fund or the Bank Insurance Fund</quote>
and inserting <quote>Deposit Insurance Fund</quote>;</text>
</subparagraph></paragraph><paragraph commented="no" display-inline="no-display-inline" id="IDA9347475645A4AA09500F2AF5DC86767"><enum>(28)</enum><text display-inline="yes-display-inline">in section 18(o) (<external-xref legal-doc="usc" parsable-cite="usc/12/1828(o)">12 U.S.C.
1828(o)</external-xref>), by striking <quote>deposit insurance funds</quote>
and <quote>deposit insurance fund</quote> each place those terms appear and
inserting <quote>Deposit Insurance Fund</quote>;</text>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="IDA94A83DE3C084CB1A8F2B0E365A163A5"><enum>(29)</enum><text display-inline="yes-display-inline">in section 18(p) (<external-xref legal-doc="usc" parsable-cite="usc/12/1828(p)">12 U.S.C.
1828(p)</external-xref>), by striking <quote>deposit insurance funds</quote>
and inserting <quote>Deposit Insurance Fund</quote>;</text>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="IDB82FBD79D3AC491BA0B6BD1016EA9CC0"><enum>(30)</enum><text display-inline="yes-display-inline">in section 24 (<external-xref legal-doc="usc" parsable-cite="usc/12/1831a">12 U.S.C.
1831a</external-xref>)—</text>
<subparagraph commented="no" display-inline="no-display-inline" id="ID335195B1DEC34773967CB2BDAA0291B5"><enum>(A)</enum><text display-inline="yes-display-inline">in subsections (a)(1) and (d)(1)(A), by
striking <quote>appropriate deposit insurance fund</quote> each place that term
appears and inserting <quote>Deposit Insurance Fund</quote>;</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="ID98D5168CAA3E45F39FA5E722C650C688"><enum>(B)</enum><text display-inline="yes-display-inline">in subsection (e)(2)(A), by striking
<quote>risk to</quote> and all that follows through the period and inserting
<quote>risk to the Deposit Insurance Fund.</quote>; and</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="IDEBE2548E96084594B07DA9C90200636C"><enum>(C)</enum><text display-inline="yes-display-inline">in subsections (e)(2)(B)(ii) and (f)(6)(B),
by striking <quote>the insurance fund of which such bank is a member</quote>
each place that term appears and inserting <quote>the Deposit Insurance
Fund</quote>;</text>
</subparagraph></paragraph><paragraph commented="no" display-inline="no-display-inline" id="IDA8A68992BDBD4872991CC70946F27FBA"><enum>(31)</enum><text display-inline="yes-display-inline">in section 28 (<external-xref legal-doc="usc" parsable-cite="usc/12/1831e">12 U.S.C. 1831e</external-xref>),
by striking <quote>affected deposit insurance fund</quote> each place that term
appears and inserting <quote>Deposit Insurance Fund</quote>;</text>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="IDE421C99891AD466DB6A35D4374CA2797"><enum>(32)</enum><text display-inline="yes-display-inline">by striking section 31 (<external-xref legal-doc="usc" parsable-cite="usc/12/1831h">12 U.S.C.
1831h</external-xref>);</text>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="ID52209D7D5CBD4FA8A6F8369D00007FC8"><enum>(33)</enum><text display-inline="yes-display-inline">in section 36(i)(3) (<external-xref legal-doc="usc" parsable-cite="usc/12/1831m(i)(3)">12 U.S.C.
1831m(i)(3)</external-xref>), by striking <quote>affected deposit insurance
fund</quote> and inserting <quote>Deposit Insurance Fund</quote>;</text>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="IDA105F3EF018E412782E000AC3118C783"><enum>(34)</enum><text display-inline="yes-display-inline">in section 37(a)(1)(C) (<external-xref legal-doc="usc" parsable-cite="usc/12/1831n(a)(1)(C)">12 U.S.C.
1831n(a)(1)(C)</external-xref>), by striking <quote>insurance funds</quote> and
inserting <quote>Deposit Insurance Fund</quote>;</text>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="IDB44B4AEC72404708B46B97ACBFBA2E6D"><enum>(35)</enum><text display-inline="yes-display-inline">in section 38 (<external-xref legal-doc="usc" parsable-cite="usc/12/1831o">12 U.S.C. 1831o</external-xref>),
by striking <quote>the deposit insurance fund</quote> each place that term
appears and inserting <quote>the Deposit Insurance Fund</quote>;</text>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="IDB7FA172C45014B40A0EDBE635BA17999"><enum>(36)</enum><text display-inline="yes-display-inline">in section 38(a) (<external-xref legal-doc="usc" parsable-cite="usc/12/1831o(a)">12 U.S.C.
1831o(a)</external-xref>), in the subsection heading, by striking
<quote><header-in-text level="subsection" style="OLC">Funds</header-in-text></quote> and inserting <quote><header-in-text level="subsection" style="OLC">Fund</header-in-text></quote>;</text>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="IDC6175975144B48D49D9600ACF02EDFE5"><enum>(37)</enum><text display-inline="yes-display-inline">in section 38(k) (<external-xref legal-doc="usc" parsable-cite="usc/12/1831o(k)">12 U.S.C.
1831o(k)</external-xref>)—</text>
<subparagraph commented="no" display-inline="no-display-inline" id="IDFB0CD1A4103D4503B9219FC916E16089"><enum>(A)</enum><text display-inline="yes-display-inline">in paragraph (1), by striking <quote>a
deposit insurance fund</quote> and inserting <quote>the Deposit Insurance
Fund</quote>;</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="ID293621C314884A6DA7478B4885C8D1CE"><enum>(B)</enum><text display-inline="yes-display-inline">in paragraph (2), by striking <quote>A
deposit insurance fund</quote> and inserting <quote>The Deposit Insurance
Fund</quote>; and</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="ID9887230D221A4FEB8E00D8BBBB4561AC"><enum>(C)</enum><text display-inline="yes-display-inline">in paragraphs (2)(A) and (3)(B), by
striking <quote>the deposit insurance fund’s outlays</quote> each place that
term appears and inserting <quote>the outlays of the Deposit Insurance
Fund</quote>; and</text>
</subparagraph></paragraph><paragraph commented="no" display-inline="no-display-inline" id="ID4DB8116698FC42DF9FE8D2E5B28EC153"><enum>(38)</enum><text display-inline="yes-display-inline">in section 38(o) (<external-xref legal-doc="usc" parsable-cite="usc/12/1831o(o)">12 U.S.C.
1831o(o)</external-xref>)—</text>
<subparagraph commented="no" display-inline="no-display-inline" id="ID0CEA1E67AF96440AB9D3345E53501FD4"><enum>(A)</enum><text display-inline="yes-display-inline">by striking <quote><header-in-text level="subsection" style="OLC">Associations</header-in-text>.—</quote> and all
that follows through <quote>Subsections (e)(2)</quote> in paragraph (2) and
inserting <quote><header-in-text level="subsection" style="OLC">Associations</header-in-text>.—Subsections (e)(2)</quote>;</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="ID06550F369BD94335A4D97F79049EF928"><enum>(B)</enum><text display-inline="yes-display-inline">by redesignating subparagraphs (A), (B),
and (C) as paragraphs (1), (2), and (3), respectively, and moving the margins 2
ems to the left; and</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="ID454645109FE24503872FA94FA0CF7896"><enum>(C)</enum><text display-inline="yes-display-inline">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.</text>
</subparagraph></paragraph></section><section commented="no" display-inline="no-display-inline" id="ID2FA3B7B1AC7A492F8B3C4647281901E5" section-type="subsequent-section"><enum>105.</enum><header>Other technical and
conforming amendments</header>
<subsection commented="no" display-inline="no-display-inline" id="IDF6B27DB7725743C29E2CE0E6AAC0A0D2"><enum>(a)</enum><header>Section
<enum-in-header>5136</enum-in-header> of the revised statutes</header><text display-inline="yes-display-inline">The paragraph designated the
<quote>Eleventh</quote> of section 5136 of the Revised Statutes of the United
States (<external-xref legal-doc="usc" parsable-cite="usc/12/24">12 U.S.C.
24</external-xref>) is amended in the 5th sentence, by striking <quote>affected
deposit insurance fund</quote> and inserting <quote>Deposit Insurance
Fund</quote>.</text>
</subsection><subsection commented="no" display-inline="no-display-inline" id="ID378F8B51D0D24A0898D0ECF7DAA73100"><enum>(b)</enum><header>Investments
promoting public welfare; limitations on aggregate investments</header><text display-inline="yes-display-inline">The 23d undesignated paragraph of
<external-xref legal-doc="act" parsable-cite="FRA/9">section 9</external-xref>
of the <act-name parsable-cite="FRA">Federal Reserve Act</act-name>
(<external-xref legal-doc="usc" parsable-cite="usc/12/338a">12 U.S.C.
338a</external-xref>) is amended in the 4th sentence, by striking
<quote>affected deposit insurance fund</quote> and inserting <quote>Deposit
Insurance Fund</quote>.</text>
</subsection><subsection commented="no" display-inline="no-display-inline" id="ID9BBA4B8285144E44B6EB8B3E5C8C311B"><enum>(c)</enum><header>Advances to
critically undercapitalized depository institutions</header><text display-inline="yes-display-inline"><external-xref legal-doc="act" parsable-cite="FRA/10B(b)(3)(A)(ii)">Section 10B(b)(3)(A)(ii)</external-xref>
of the <act-name parsable-cite="FRA">Federal Reserve Act</act-name>
(<external-xref legal-doc="usc" parsable-cite="usc/12/347b(b)(3)(A)(ii)">12
U.S.C. 347b(b)(3)(A)(ii)</external-xref>) is amended by striking <quote>any
deposit insurance fund in</quote> and inserting <quote>the Deposit Insurance
Fund of</quote>.</text>
</subsection><subsection commented="no" display-inline="no-display-inline" id="ID1E89F15ED0104002B12C1071B7A8B5D1"><enum>(d)</enum><header>Amendments to
the Balanced Budget and Emergency Deficit Control Act of 1985</header><text display-inline="yes-display-inline">Section 255(g)(1)(A) of the Balanced Budget
and Emergency Deficit Control Act of 1985 (<external-xref legal-doc="usc" parsable-cite="usc/2/905(g)(1)(A)">2 U.S.C. 905(g)(1)(A)</external-xref>) is
amended—</text>
<paragraph commented="no" display-inline="no-display-inline" id="IDB72BE6A2800D4E5096DCB22CD42E8D42"><enum>(1)</enum><text display-inline="yes-display-inline">by striking <quote>Bank Insurance
Fund</quote> and inserting <quote>Deposit Insurance Fund</quote>; and</text>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="ID3F80CC77EB874DDCBDCDA7B5BF9B9F5B"><enum>(2)</enum><text display-inline="yes-display-inline">by striking <quote>Federal Deposit
Insurance Corporation, Savings Association Insurance Fund;</quote>.</text>
</paragraph></subsection><subsection commented="no" display-inline="no-display-inline" id="IDEEFF1EA3C8F34EA98BFFB52B00BE595D"><enum>(e)</enum><header>Amendments to
the <act-name parsable-cite="FHLBA">Federal Home Loan Bank
Act</act-name></header><text display-inline="yes-display-inline">The
<act-name parsable-cite="FHLBA">Federal Home Loan Bank Act</act-name>
(<external-xref legal-doc="usc" parsable-cite="usc/12/1421">12 U.S.C.
1421</external-xref> et seq.) is amended—</text>
<paragraph commented="no" display-inline="no-display-inline" id="ID44A00AE0EAC641F08796B86B27DE2E96"><enum>(1)</enum><text display-inline="yes-display-inline">in section 11(k) (<external-xref legal-doc="usc" parsable-cite="usc/12/1431(k)">12 U.S.C.
1431(k)</external-xref>)—</text>
<subparagraph commented="no" display-inline="no-display-inline" id="ID0469F7888DCE482DB099C9A35E1CA4AB"><enum>(A)</enum><text display-inline="yes-display-inline">in the subsection heading, by striking
<quote><header-in-text level="subsection" style="OLC">SAIF</header-in-text></quote> and inserting <quote><header-in-text level="subsection" style="OLC">the Deposit Insurance
Fund</header-in-text></quote>; and</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="ID274552AC41B746AEBAE88BBC41E5BD8E"><enum>(B)</enum><text display-inline="yes-display-inline">by striking <quote>Savings Association
Insurance Fund</quote> each place that term appears and inserting
<quote>Deposit Insurance Fund</quote>;</text>
</subparagraph></paragraph><paragraph commented="no" display-inline="no-display-inline" id="ID4E668C553BE14A57AFF3EB820064FAFD"><enum>(2)</enum><text display-inline="yes-display-inline">in section 21 (<external-xref legal-doc="usc" parsable-cite="usc/12/1441">12 U.S.C.
1441</external-xref>)—</text>
<subparagraph commented="no" display-inline="no-display-inline" id="ID00836790E9DE43E6B648999FAB740092"><enum>(A)</enum><text display-inline="yes-display-inline">in subsection (f)(2), by striking <quote>,
except that</quote> and all that follows through the end of the paragraph and
inserting a period; and</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="IDBB57E99777B0404E82DCF844D3C5E835"><enum>(B)</enum><text display-inline="yes-display-inline">in subsection (k), by striking paragraph
(4);</text>
</subparagraph></paragraph><paragraph commented="no" display-inline="no-display-inline" id="ID1C0E44F8232E439C98B7A6B74E7B8F51"><enum>(3)</enum><text display-inline="yes-display-inline">in section 21A(b)(4)(B) (<external-xref legal-doc="usc" parsable-cite="usc/12/1441a(b)(4)(B)">12 U.S.C.
1441a(b)(4)(B)</external-xref>), by striking <quote>affected deposit insurance
fund</quote> and inserting <quote>Deposit Insurance Fund</quote>; and</text>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="IDD493202110EB44218D8444ABBEBCFB69"><enum>(4)</enum><text display-inline="yes-display-inline">in
section 21B(k) (<external-xref legal-doc="usc" parsable-cite="usc/12/1441b(k)">12 U.S.C. 1441b(k)</external-xref>) by
inserting before the colon <quote>, the following definitions shall
apply</quote>.</text>
</paragraph></subsection><subsection commented="no" display-inline="no-display-inline" id="IDE1A2AB3B9A5446F1B53BCCDE37CB88F3"><enum>(f)</enum><header>Amendments to
the home owners’ loan Act</header><text display-inline="yes-display-inline">The
<act-name parsable-cite="HOLA">Home Owners’ Loan Act</act-name> (<external-xref legal-doc="usc" parsable-cite="usc/12/1461">12 U.S.C. 1461</external-xref> et
seq.) is amended—</text>
<paragraph commented="no" display-inline="no-display-inline" id="ID786DED494A68459B99B0E72398C2496F"><enum>(1)</enum><text display-inline="yes-display-inline">in section 5 (<external-xref legal-doc="usc" parsable-cite="usc/12/1464">12 U.S.C.
1464</external-xref>)—</text>
<subparagraph commented="no" display-inline="no-display-inline" id="ID081798E27B354E9EBDD0DA4E8F471D37"><enum>(A)</enum><text display-inline="yes-display-inline">in subsection (c)(6), by striking <quote>As
used in this subsection—</quote> and inserting <quote>For purposes of this
subsection, the following definitions shall apply:</quote>;</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="IDF5C2D323565249D9827E948B8BB6A85E"><enum>(B)</enum><text display-inline="yes-display-inline">in subsection (o)(1), by striking
<quote>that is a Bank Insurance Fund member</quote>;</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="IDAB76D06429B24218969C418CE7BECA2E"><enum>(C)</enum><text display-inline="yes-display-inline">in subsection (o)(2)(A), by striking
<quote>a Bank Insurance Fund member until such time as it changes its status to
a Savings Association Insurance Fund member</quote> and inserting
<quote>insured by the Deposit Insurance Fund</quote>;</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="ID77348FD9B15E4F88AC348F281E26A5C8"><enum>(D)</enum><text display-inline="yes-display-inline">in subsection (t)(5)(D)(iii)(II), by
striking <quote>affected deposit insurance fund</quote> and inserting
<quote>Deposit Insurance Fund</quote>;</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="IDBF0361FAF9F7419DBF6E2440387DC7A4"><enum>(E)</enum><text display-inline="yes-display-inline">in subsection (t)(7)(C)(i)(I), by striking
<quote>affected deposit insurance fund</quote> and inserting <quote>Deposit
Insurance Fund</quote>; and</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="IDF363F8B00B8641E1A4B39588D382FC00"><enum>(F)</enum><text display-inline="yes-display-inline">in subsection (v)(2)(A)(i), by striking
<quote>the Savings Association Insurance Fund</quote> and inserting <quote>or
the Deposit Insurance Fund</quote>; and</text>
</subparagraph></paragraph><paragraph commented="no" display-inline="no-display-inline" id="IDC69EDBC598014342B7B6778CE46EAA00"><enum>(2)</enum><text display-inline="yes-display-inline">in section 10 (<external-xref legal-doc="usc" parsable-cite="usc/12/1467a">12 U.S.C.
1467a</external-xref>)—</text>
<subparagraph commented="no" display-inline="no-display-inline" id="IDF13A8D533D7740319721C85B5974E29C"><enum>(A)</enum><text display-inline="yes-display-inline">in subsection (c)(6)(D), by striking
<quote>this title</quote> and inserting <quote>this Act</quote>;</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="ID986AD72DD5234893988FC6F8D63000A1"><enum>(B)</enum><text display-inline="yes-display-inline">in subsection (e)(1)(B), by striking
<quote>Savings Association Insurance Fund or Bank Insurance Fund</quote> and
inserting <quote>Deposit Insurance Fund</quote>;</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="ID55EEDBE97AAE43FA87E221C24959EEA8"><enum>(C)</enum><text display-inline="yes-display-inline">in subsection (e)(2), by striking
<quote>Savings Association Insurance Fund or the Bank Insurance Fund</quote>
and inserting <quote>Deposit Insurance Fund</quote>;</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="ID8E86625EC6644C35A4089601F2576B6C"><enum>(D)</enum><text display-inline="yes-display-inline">in subsection (e)(4)(B), by striking
<quote>subsection (1)</quote> and inserting <quote>subsection
(<italic>l</italic>)</quote>;</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="IDE84E9F34A08F467E00003FCAC590AA7E"><enum>(E)</enum><text display-inline="yes-display-inline">in subsection (g)(3)(A), by striking
<quote>(5) of this section</quote> and inserting <quote>(5) of this
subsection</quote>;</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="ID65E261B491C540E9BC464BE572385000"><enum>(F)</enum><text display-inline="yes-display-inline">in subsection (i), by redesignating
paragraph (5) as paragraph (4);</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="IDE4609D4FE74E4194B16B8D57B504A003"><enum>(G)</enum><text display-inline="yes-display-inline">in subsection (m)(3), by striking
subparagraph (E), and by redesignating subparagraphs (F), (G), and (H) as
subparagraphs (E), (F), and (G), respectively;</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="ID49E84BFD88264344AA877E893C186B28"><enum>(H)</enum><text display-inline="yes-display-inline">in subsection (m)(7)(A), by striking
<quote>during period</quote> and inserting <quote>during the period</quote>;
and</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="ID1A729EC7EC1C48A5A1308F8393AD68D8"><enum>(I)</enum><text display-inline="yes-display-inline">in subsection (o)(3)(D), by striking
<quote>sections 5(s) and (t) of this Act</quote> and inserting
<quote>subsections (s) and (t) of section 5</quote>.</text>
</subparagraph></paragraph></subsection><subsection commented="no" display-inline="no-display-inline" id="ID15C50341B890480190A9C11DF797B27C"><enum>(g)</enum><header>Amendments to
the <act-name parsable-cite="NHA">National Housing Act</act-name></header><text display-inline="yes-display-inline">The <act-name parsable-cite="NHA">National
Housing Act</act-name> (<external-xref legal-doc="usc" parsable-cite="usc/12/1701">12 U.S.C. 1701</external-xref> et seq.) is
amended—</text>
<paragraph commented="no" display-inline="no-display-inline" id="ID292D8BEFDFF34088AC90A646E995741B"><enum>(1)</enum><text display-inline="yes-display-inline">in section 317(b)(1)(B) (<external-xref legal-doc="usc" parsable-cite="usc/12/1723i(b)(1)(B)">12 U.S.C.
1723i(b)(1)(B)</external-xref>), by striking <quote>Bank Insurance Fund for
banks or through the Savings Association Insurance Fund for savings
associations</quote> and inserting <quote>Deposit Insurance Fund</quote>;
and</text>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="IDAC881DCD5A83443095BA4FB55C58F53B"><enum>(2)</enum><text display-inline="yes-display-inline">in section 536(b)(1)(B)(ii) (<external-xref legal-doc="usc" parsable-cite="usc/12/1735f-14(b)(1)(B)(ii)">12 U.S.C.
1735f–14(b)(1)(B)(ii)</external-xref>), by striking <quote>Bank Insurance Fund
for banks and through the Savings Association Insurance Fund for savings
associations</quote> and inserting <quote>Deposit Insurance
Fund</quote>.</text>
</paragraph></subsection><subsection commented="no" display-inline="no-display-inline" id="IDADA84BA02C9B4DB2807E299B2799AE40"><enum>(h)</enum><header>Amendments to
the financial institutions reform, recovery, and enforcement act of
1989</header><text display-inline="yes-display-inline">The Financial
Institutions Reform, Recovery, and Enforcement Act of 1989 (<external-xref legal-doc="usc" parsable-cite="usc/12/1811 note">12 U.S.C. 1811
note</external-xref>) is amended—</text>
<paragraph commented="no" display-inline="no-display-inline" id="ID27D80926F47347E795040184B4EC9ED5"><enum>(1)</enum><text display-inline="yes-display-inline">in section 951(b)(3)(B) (<external-xref legal-doc="usc" parsable-cite="usc/12/1833a(b)(3)(B)">12 U.S.C.
1833a(b)(3)(B)</external-xref>), by striking <quote>Bank Insurance Fund, the
Savings Association Insurance Fund,</quote> and inserting <quote>Deposit
Insurance Fund (or any predecessor deposit insurance fund)</quote>; and</text>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="ID3FBCB8E321024F2EBACA07376FDE6E36"><enum>(2)</enum><text display-inline="yes-display-inline">in section 1112(c)(1)(B) (<external-xref legal-doc="usc" parsable-cite="usc/12/3341(c)(1)(B)">12 U.S.C.
3341(c)(1)(B)</external-xref>), by striking <quote>Bank Insurance Fund, the
Savings Association Insurance Fund,</quote> and inserting <quote>Deposit
Insurance Fund</quote>.</text>
</paragraph></subsection><subsection commented="no" display-inline="no-display-inline" id="ID1D3E2E9E933A42F8919878E85397B91D"><enum>(i)</enum><header>Amendment to
the <act-name parsable-cite="BHC65">Bank Holding Company Act of
1956</act-name></header><text display-inline="yes-display-inline">The
<act-name parsable-cite="BHC65">Bank Holding Company Act of 1956</act-name>
(<external-xref legal-doc="usc" parsable-cite="usc/12/1841">12 U.S.C.
1841</external-xref> et seq.) is amended—</text>
<paragraph commented="no" display-inline="no-display-inline" id="ID59E69623612B4902964CB0BD8F786054"><enum>(1)</enum><text display-inline="yes-display-inline">in section 2(j)(2) (<external-xref legal-doc="usc" parsable-cite="usc/12/1841(j)(2)">12 U.S.C.
1841(j)(2)</external-xref>), by striking <quote>Savings Association Insurance
Fund</quote> and inserting <quote>Deposit Insurance Fund</quote>; and</text>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="ID5A1F00B204FA460B9E59B0A3E2EFADF5"><enum>(2)</enum><text display-inline="yes-display-inline">in section 3(d)(1)(D)(iii) (<external-xref legal-doc="usc" parsable-cite="usc/12/1842(d)(1)(D)(iii)">12 U.S.C.
1842(d)(1)(D)(iii)</external-xref>), by striking <quote>appropriate deposit
insurance fund</quote> and inserting <quote>Deposit Insurance
Fund</quote>.</text>
</paragraph></subsection><subsection commented="no" display-inline="no-display-inline" id="ID803F20710E1040D5BC885CADD881BE34"><enum>(j)</enum><header>Amendments to
the Gramm-Leach-Bliley Act</header><text display-inline="yes-display-inline">Section 114 of the Gramm-Leach-Bliley Act
(<external-xref legal-doc="usc" parsable-cite="usc/12/1828a">12 U.S.C.
1828a</external-xref>) is amended by striking <quote>any Federal deposit
insurance fund</quote>, 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 <quote>the Deposit Insurance Fund</quote>.</text>
</subsection></section><section commented="no" display-inline="no-display-inline" id="IDA391B9330BCE45A48F8BF8916D579987" section-type="subsequent-section"><enum>106.</enum><header>Effective
date</header><text display-inline="no-display-inline">This title and the
amendments made by this title shall become effective on the first day of the
first calendar quarter that begins more than 90 days after the date of
enactment of this Act.</text>
</section><enum>II</enum><header>Deposit insurance modernization and
improvement</header>
<section commented="no" display-inline="no-display-inline" id="ID8B03CEE3245A41E49B54899FE4186740" section-type="subsequent-section"><enum>201.</enum><header>Short
title</header><text display-inline="no-display-inline">This title may be cited
as the <quote><short-title>Deposit Insurance Reform Act of
2005</short-title></quote>.</text>
</section><section commented="no" display-inline="no-display-inline" id="ID198A5090F48E4AD394FFE053FEBFFD58" section-type="subsequent-section"><enum>202.</enum><header>Increase in Federal
insurance coverage</header>
<subsection commented="no" display-inline="no-display-inline" id="IDAF7A53011EF6473F9E04A142A4965E02"><enum>(a)</enum><header>Insured
depository institutions</header>
<paragraph commented="no" display-inline="no-display-inline" id="ID1BC7EF4DCC5841B3A03BF18C67C18115"><enum>(1)</enum><header>In
general</header><text display-inline="yes-display-inline"><external-xref legal-doc="act" parsable-cite="FDIA/11(a)(1)">Section 11(a)(1)</external-xref>
of the <act-name parsable-cite="FDIA">Federal Deposit Insurance Act</act-name>
(<external-xref legal-doc="usc" parsable-cite="usc/12/1821(a)(1)">12 U.S.C.
1821(a)(1)</external-xref>) is amended—</text>
<subparagraph commented="no" display-inline="no-display-inline" id="ID7710EC5D7AA0435A84433723EE1E8DA9"><enum>(A)</enum><text display-inline="yes-display-inline">by striking subparagraph (B) and inserting
the following:</text>
<quoted-block display-inline="no-display-inline" id="ID34A9BA36573E485082F9FA9B2E6F5DD4" style="OLC">
<subparagraph commented="no" display-inline="no-display-inline" id="ID25360269911244E8B16ED62B902EFA2F"><enum>(B)</enum><header>Net amount of
insured deposits</header><text display-inline="yes-display-inline">The net
amount of deposit insurance payable to any depositor at an insured depository
institution shall not exceed the standard maximum deposit insurance amount, as
determined in accordance with paragraph (3) and subparagraphs (C), (D), (E),
and (F) of this paragraph.</text>
</subparagraph><after-quoted-block>;
and</after-quoted-block></quoted-block>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="IDAE955F8017CC43C0A295A3E9CB3DDD07"><enum>(B)</enum><text display-inline="yes-display-inline">by striking subparagraph (D) and inserting
the following:</text>
<quoted-block display-inline="no-display-inline" id="ID903F4B0726A942589B0035E308EBE657" style="OLC">
<subparagraph commented="no" display-inline="no-display-inline" id="ID50A21D2C2B444FB19167405E009B17BC"><enum>(D)</enum><header>Coverage for
certain employee benefit plan deposits</header>
<clause commented="no" display-inline="no-display-inline" id="ID8C88DE741331441DAF02733F36571DA1"><enum>(i)</enum><header>Pass-through
insurance</header><text display-inline="yes-display-inline">The Corporation
shall provide pass-through deposit insurance for the deposits of any employee
benefit plan.</text>
</clause><clause commented="no" display-inline="no-display-inline" id="IDDF4919412F5B4DB2A9A799184DB954F2"><enum>(ii)</enum><header>Prohibition on
acceptance of benefit plan deposits</header><text display-inline="yes-display-inline">An insured depository institution that is
not well capitalized or adequately capitalized may not accept employee benefit
plan deposits.</text>
</clause><clause commented="no" display-inline="no-display-inline" id="ID76FFB205FAEC4D71AE79009DB58321DC"><enum>(iii)</enum><header>Definitions</header><text display-inline="yes-display-inline">For purposes of this subparagraph, the
following definitions shall apply:</text>
<subclause commented="no" display-inline="no-display-inline" id="IDC3646AD93EDF43A4B5448DD700DD10D9"><enum>(I)</enum><header>Capital
standards</header><text display-inline="yes-display-inline">The terms
<term>well capitalized</term> and <term>adequately capitalized</term> have the
same meanings as in section 38.</text>
</subclause><subclause commented="no" display-inline="no-display-inline" id="ID1FF9E23FD2AF40B68C8D003074CD666E"><enum>(II)</enum><header>Employee
benefit plan</header><text display-inline="yes-display-inline">The term
<term>employee benefit plan</term> has the same meaning as in paragraph
(5)(B)(ii), and includes any eligible deferred compensation plan described in
section 457 of the Internal Revenue Code of 1986.</text>
</subclause><subclause commented="no" display-inline="no-display-inline" id="IDB8A49970AC114AA08004A700234373A9"><enum>(III)</enum><header>Pass-through
deposit insurance</header><text display-inline="yes-display-inline">The term
<term>pass-through deposit insurance</term> means, with respect to an employee
benefit plan, deposit insurance coverage provided on a pro rata basis to the
participants in the plan, in accordance with the interests of each
participant.</text>
</subclause></clause></subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="IDCBBF289E94984DD0A1C1D30300D65F68"><enum>(E)</enum><header>Standard
maximum deposit insurance amount defined</header><text display-inline="yes-display-inline">For purposes of this paragraph, the term
<term>standard maximum deposit insurance amount</term> means, until the end of
the 5-year period beginning on the date of enactment of the
<short-title>Deposit Insurance Reform Act of
2005</short-title>, $100,000.</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="ID5286F54894E34D68968BD54220227B17"><enum>(F)</enum><header>Inflation
adjustment</header>
<clause commented="no" display-inline="no-display-inline" id="ID7C98A5DE12B6499E8768F9DE11AFC15E"><enum>(i)</enum><header>In
general</header><text display-inline="yes-display-inline">As of January 1,
2010, and as of the 1st day of each 5-year period thereafter, the standard
maximum deposit insurance amount payable to any depositor at an insured
depository institution shall be increased by the product of—</text>
<subclause commented="no" display-inline="no-display-inline" id="IDE0EFBF12F71C48FF943B3253C8FDE226"><enum>(I)</enum><text display-inline="yes-display-inline">$100,000; and</text>
</subclause><subclause commented="no" display-inline="no-display-inline" id="IDF6A45901145B43799B427E89D27D9F96"><enum>(II)</enum><text display-inline="yes-display-inline">the ratio of the value of the Personal
Consumption Expenditures Chain-Type Index (or any successor index thereto),
published by the Department of Commerce, for December 31 of the year preceding
the year in which the adjustment is calculated under this clause, to the value
of such index for December 31 of the year preceding the effective date of the
<short-title>Insurance Funds Merger Act of
2005</short-title>.</text>
</subclause></clause><clause commented="no" display-inline="no-display-inline" id="ID5A09681FEDAB4B0FBFE0BF37D235E495"><enum>(ii)</enum><header>Limitation on
adjustments</header><text display-inline="yes-display-inline">If the
application of clause (i) would result in any decrease in the standard maximum
deposit insurance amount in effect on the date of the adjustment under clause
(i), the standard maximum deposit insurance amount shall remain unchanged until
the next scheduled 5-year adjustment that does not result in any such
decrease.</text>
</clause><clause commented="no" display-inline="no-display-inline" id="ID8945F28A6711494597751E8C2F67F300"><enum>(iii)</enum><header>Rounding</header><text display-inline="yes-display-inline">If the amount determined under clause (ii)
for any period is not a multiple of $10,000, the amount so determined shall be
rounded to the nearest $10,000.</text>
</clause><clause commented="no" display-inline="no-display-inline" id="IDF515B58C12C1421AB8F8EF86D98EA5BB"><enum>(iv)</enum><header>Publication</header><text display-inline="yes-display-inline">Not later than January 1, 2010, and not
later than April 1 of the 1st year of each subsequent 5-year period referred to
in clause (i), the Board of Directors shall publish in the Federal Register the
standard maximum deposit insurance amount and the amount of deposit insurance
coverage under paragraph (3)(A) that may be due to any depositor at an insured
depository institution during the applicable 5-year
period.</text>
</clause></subparagraph><after-quoted-block>.</after-quoted-block></quoted-block>
</subparagraph></paragraph><paragraph commented="no" display-inline="no-display-inline" id="IDC757CE8CBED243F6A4FE43DA7E2FC5F6"><enum>(2)</enum><header>Deposit
insurance for retirement accounts</header><text display-inline="yes-display-inline"><external-xref legal-doc="act" parsable-cite="FDIA/11(a)(3)(A)">Section 11(a)(3)(A)</external-xref> of the
<act-name parsable-cite="FDIA">Federal Deposit Insurance Act</act-name>
(<external-xref legal-doc="usc" parsable-cite="usc/12/1821(a)(3)(A)">12 U.S.C.
1821(a)(3)(A)</external-xref>) is amended—</text>
<subparagraph commented="no" display-inline="no-display-inline" id="IDC795A7D35C3F44629B9271DDA1EB6888"><enum>(A)</enum><text display-inline="yes-display-inline">by striking <quote>$100,000</quote> and
inserting <quote>$250,000</quote>; and</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="id0F15A6F53486448E987FD77030A8C979"><enum>(B)</enum><text display-inline="yes-display-inline">by inserting before the period at the end
the following: <quote>which amount shall be subject to inflation adjustments in
the same manner as under paragraph (1)(F) with respect to the standard maximum
deposit insurance amount, except that <quote>$250,000</quote> shall be
substituted for the amount specified in clause (i) of paragraph (1)(F) for
purposes of this subparagraph</quote>.</text>
</subparagraph></paragraph><paragraph commented="no" display-inline="no-display-inline" id="IDE11BB8491EC7478289F84E0046C90566"><enum>(3)</enum><header>Deposit
insurance for municipal deposits</header><text display-inline="yes-display-inline"><external-xref legal-doc="act" parsable-cite="FDIA/11(a)(2)">Section 11(a)(2)(A)</external-xref> of the
<act-name parsable-cite="FDIA">Federal Deposit Insurance Act</act-name>
(<external-xref legal-doc="usc" parsable-cite="usc/12/1821(a)(2)">12 U.S.C.
1821(a)(2)(A)</external-xref>) is amended in the matter following clause
(v)—</text>
<subparagraph commented="no" display-inline="no-display-inline" id="IDffbca793bb7944338f8c05a47132eaf7"><enum>(A)</enum><text display-inline="yes-display-inline">by striking <quote>$100,000</quote> the
first place that term appears and inserting <quote>the standard maximum deposit
insurance amount</quote>;</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="ID353C89977D694453AA6C3C2BAC9E514C"><enum>(B)</enum><text display-inline="yes-display-inline">by striking <quote>in an amount not to
exceed $100,000 per account</quote> the second place that term appears;
and</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="idF65A84F539E740EAA1EC007CF7A2180C"><enum>(C)</enum><text display-inline="yes-display-inline">by inserting before the period at the end
the following: <quote>, which amount shall be subject to inflation adjustments
in the same manner as under paragraph (1)(F)</quote>.</text>
</subparagraph></paragraph><paragraph commented="no" display-inline="no-display-inline" id="ID63A46577AE1F45338350399D6F1E782F"><enum>(4)</enum><header>Technical and
conforming amendment relating to insurance of trust funds</header><text display-inline="yes-display-inline"><external-xref legal-doc="act" parsable-cite="FDIA/7(i)">Section 7(i)</external-xref> of the
<act-name parsable-cite="FDIA">Federal Deposit Insurance Act</act-name>
(<external-xref legal-doc="usc" parsable-cite="usc/12/1817(i)">12 U.S.C.
1817(i)</external-xref>) is amended in each of paragraphs (1) and (3), by
striking <quote>$100,000</quote> each place it appears and inserting <quote>the
standard maximum deposit insurance amount (as determined under section
11(a)(1))</quote>.</text>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="IDA7D4A8492E8A49F7A3001DDFD671DD6F"><enum>(5)</enum><header>Other technical
and conforming amendments</header><text display-inline="yes-display-inline">The
<act-name parsable-cite="FDIA">Federal Deposit Insurance Act</act-name>
(<external-xref legal-doc="usc" parsable-cite="usc/12/1811">12 U.S.C.
1811</external-xref> et seq.) is amended—</text>
<subparagraph commented="no" display-inline="no-display-inline" id="IDF027CB6D01074CA4AB78E6A0272090EC"><enum>(A)</enum><text display-inline="yes-display-inline">in section 11(m)(6) (<external-xref legal-doc="usc" parsable-cite="usc/12/1821(m)(6)">12 U.S.C.
1821(m)(6)</external-xref>), by striking <quote>$100,000</quote> and inserting
<quote>an amount equal to the standard maximum deposit insurance amount (as
determined under subsection (a)(1))</quote>;</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="ID1E8FF62680F14BF1BF829073B442DEAA"><enum>(B)</enum><text display-inline="yes-display-inline">in section 18 (<external-xref legal-doc="usc" parsable-cite="usc/12/1828">12 U.S.C. 1828</external-xref>), by
striking subsection (a) and inserting the following:</text>
<quoted-block display-inline="no-display-inline" id="ID83FF148A5408485E8C8FCF81D0484D29" style="OLC">
<subsection commented="no" display-inline="no-display-inline" id="ID93DA917A6CF44CF8ABE0C519588F74A2"><enum>(a)</enum><header>Insurance
logo</header>
<paragraph commented="no" display-inline="no-display-inline" id="ID468ED395CC9C43FEB6BD87DE7519947B"><enum>(1)</enum><header>Insured
depository institutions</header><text display-inline="yes-display-inline">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.</text>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="ID7075D335C4764BF8B451D87ED661F795"><enum>(2)</enum><header>Regulations</header><text display-inline="yes-display-inline">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.</text>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="ID8902408E2CB448E6A73C70A334C652C0"><enum>(3)</enum><header>Penalties</header><text display-inline="yes-display-inline">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.</text>
</paragraph></subsection><after-quoted-block>;
and</after-quoted-block></quoted-block>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="ID7736832B1BD546A30011E7CE51ED6DE6"><enum>(C)</enum><text display-inline="yes-display-inline">in section 43(d) (<external-xref legal-doc="usc" parsable-cite="usc/12/1831t(d)">12 U.S.C.
1831t(d)</external-xref>), by striking <quote>$100,000</quote> and inserting
<quote>an amount equal to the standard maximum deposit insurance amount (as
determined under section 11(a)(1))</quote>.</text>
</subparagraph></paragraph></subsection><subsection commented="no" display-inline="no-display-inline" id="IDA4B4FD2EF1964FD2ABDAE3718253FA38"><enum>(b)</enum><header>Insured credit
unions</header>
<paragraph commented="no" display-inline="no-display-inline" id="ID9838EDFE4CF74C0EB9E1A33EF19E9E78"><enum>(1)</enum><header>In
general</header><text display-inline="yes-display-inline"><external-xref legal-doc="act" parsable-cite="FCUA/207(k)">Section 207(k)</external-xref> of
the <act-name parsable-cite="FCUA">Federal Credit Union Act</act-name>
(<external-xref legal-doc="usc" parsable-cite="usc/12/1787(k)">12 U.S.C.
1787(k)</external-xref>) is amended—</text>
<subparagraph commented="no" display-inline="no-display-inline" id="ID37164AD391D447C5A95B5EC4859FBC81"><enum>(A)</enum><text display-inline="yes-display-inline">by striking <quote>(k)(1)</quote> and all
that follows through the end of paragraph (1) and inserting the
following:</text>
<quoted-block display-inline="no-display-inline" id="ID2F0898B482EF4274AB7CD8003EC8B4DD" style="OLC">
<subsection commented="no" display-inline="no-display-inline" id="IDA697EED548D54913A173CDBA228FE935"><enum>(k)</enum><header>Insured amounts
payable</header>
<paragraph commented="no" display-inline="no-display-inline" id="ID88237A84A9A74981BD2BB52518AC4500"><enum>(1)</enum><header>Net insured
amount</header>
<subparagraph commented="no" display-inline="no-display-inline" id="ID066FCAA0B50B46E49BB442912DAEC32D"><enum>(A)</enum><header>In
general</header><text display-inline="yes-display-inline">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 consistent with actions taken by the Federal Deposit Insurance
Corporation under section 11(a) of the <act-name parsable-cite="FDIA">Federal
Deposit Insurance Act</act-name>.</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="ID7605578458EF4171A9B0D48D1E4ED757"><enum>(B)</enum><header>Aggregation</header><text display-inline="yes-display-inline">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.</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="IDA21B3CC65983414E9432D934F1D1E9A4"><enum>(C)</enum><header>Authority to
define the extent of coverage</header><text display-inline="yes-display-inline">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.</text>
</subparagraph></paragraph></subsection><after-quoted-block>;
and</after-quoted-block></quoted-block>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="IDD1F4DC36DCAA4AA9BB68E417740028D0"><enum>(B)</enum><text display-inline="yes-display-inline">by adding at the end the following:</text>
<quoted-block display-inline="no-display-inline" id="ID5F57F2153F3C49AFAB6304E95DB62224" style="OLC">
<paragraph commented="no" display-inline="no-display-inline" id="ID6EE3654F7C0847C0868CAE6D0522ECA3"><enum>(4)</enum><header>Coverage for
certain employee benefit plan deposits</header>
<subparagraph commented="no" display-inline="no-display-inline" id="ID9421A905E1AC4594A92CDCF5767C2946"><enum>(A)</enum><header>Pass-through
insurance</header><text display-inline="yes-display-inline">The Administration
shall provide pass-through share insurance for the deposits or shares of any
employee benefit plan, subject to subparagraph (B).</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="IDD2E9006439F04EC494229BA7EA9BB039"><enum>(B)</enum><header>Prohibition on
acceptance of deposits</header><text display-inline="yes-display-inline">An
insured credit union that is not well capitalized or adequately capitalized may
not accept employee benefit plan deposits.</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="ID1EDDF036F0444B99A3DE2B219C4E005B"><enum>(C)</enum><header>Definitions</header><text display-inline="yes-display-inline">For purposes of this paragraph, the
following definitions shall apply:</text>
<clause commented="no" display-inline="no-display-inline" id="ID276B6B9932064F9F90A3F7C73CF55E00"><enum>(i)</enum><header>Capital
standards</header><text display-inline="yes-display-inline">The terms
<term>well capitalized</term> and <term>adequately capitalized</term> have the
same meanings as in section 216(c), as added by section 301 of the Credit Union
Membership Access Act (<external-xref legal-doc="public-law" parsable-cite="pl/105/219">Public Law 105–219</external-xref>,
<external-xref legal-doc="statute-at-large" parsable-cite="stat/112/931">112
Stat. 931</external-xref>).</text>
</clause><clause commented="no" display-inline="no-display-inline" id="IDB4E2DF9BAAC44A1EBD007B3459F43FCF"><enum>(ii)</enum><header>Employee
benefit plan</header><text display-inline="yes-display-inline">The term
<term>employee benefit plan</term>—</text>
<subclause commented="no" display-inline="no-display-inline" id="ID90636CF9812E4C11A920808DF98C09CB"><enum>(I)</enum><text display-inline="yes-display-inline">has the meaning given to such term in
section 3(3) of the <act-name parsable-cite="ERISA">Employee Retirement Income
Security Act of 1974</act-name>;</text>
</subclause><subclause commented="no" display-inline="no-display-inline" id="ID36DA9BEC2CAA45D6987BCD5C33D0412B"><enum>(II)</enum><text display-inline="yes-display-inline">includes any plan described in section
401(d) of the Internal Revenue Code of 1986; and</text>
</subclause><subclause commented="no" display-inline="no-display-inline" id="IDB7D5062D6E1E48B08E49636DD553D4C9"><enum>(III)</enum><text display-inline="yes-display-inline">includes any eligible deferred compensation
plan described in section 457 of the Internal Revenue Code of 1986.</text>
</subclause></clause><clause commented="no" display-inline="no-display-inline" id="ID7D05DABC1A8C493993C99206EF15B3B0"><enum>(iii)</enum><header>Pass-through
share insurance</header><text display-inline="yes-display-inline">The term
<term>pass-through share insurance</term> means, with respect to an employee
benefit plan, insurance coverage provided on a pro rata basis to the
participants in the plan, in accordance with the interest of each
participant.</text>
</clause></subparagraph></paragraph><paragraph commented="no" display-inline="no-display-inline" id="ID6A507E0281B240A390B277276CF0008C"><enum>(5)</enum><header>Standard
maximum share insurance amount defined</header><text display-inline="yes-display-inline">For purposes of this subsection, the term
<term>standard maximum share insurance amount</term> means, until the end of
the 270-day period beginning on the date of enactment of the
<short-title>Deposit Insurance Reform Act of
2005</short-title>, $100,000.</text>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="IDE780D9046D6E4A0EB31C76A25F2BC041"><enum>(6)</enum><header>Inflation
adjustment</header>
<subparagraph commented="no" display-inline="no-display-inline" id="IDABA19C54D7614B568DF7541E05A5E644"><enum>(A)</enum><header>In
general</header><text display-inline="yes-display-inline">As of January 1,
2010, and as of the 1st day of each subsequent 5-year period, the standard
maximum share insurance amount payable to any member of an insured credit union
shall be increased by the product of—</text>
<clause commented="no" display-inline="no-display-inline" id="ID45D8A0C61373499583899300F5DB5C6B"><enum>(i)</enum><text display-inline="yes-display-inline">$100,000; and</text>
</clause><clause commented="no" display-inline="no-display-inline" id="IDCF11ACC922A543F19BAEE4465DFE0000"><enum>(ii)</enum><text display-inline="yes-display-inline">the ratio of the value of the Personal
Consumption Expenditures Chain-Type Index (or any successor index thereto),
published by the Department of Commerce, as in effect on the date of the
adjustment under this clause.</text>
</clause></subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="ID665E7A83846A41458346C88CE7FFDE75"><enum>(B)</enum><header>Limitation on
adjustments</header><text display-inline="yes-display-inline">If the
application of subparagraph (A) would result in any decrease in the standard
maximum share insurance amount in effect on the date of the adjustment under
clause (i), the standard maximum share insurance amount shall remain unchanged
until the next scheduled 5-year adjustment that does not result in any such
decrease.</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="ID5315D17BA1B449D58EC42B1EEB898258"><enum>(C)</enum><header>Rounding</header><text display-inline="yes-display-inline">If the amount determined under subparagraph
(B) for any period is not a multiple of $10,000, the amount so determined shall
be rounded to the nearest $10,000.</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="ID3AD4FBF896AF468DA96849ED1D3D5196"><enum>(D)</enum><header>Publication</header><text display-inline="yes-display-inline">Not later than January 31 of the 1st year
of each 5-year period referred to in subparagraph (A), the Board shall publish
in the Federal Register the standard maximum share insurance amount and the
amount of share insurance coverage under paragraph (3) that may be due to any
member at an insured credit union during that 5-year
period.</text>
</subparagraph></paragraph><after-quoted-block>;
and</after-quoted-block></quoted-block>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="ID32A791E2D31E4EC7B92BF0218E02EBB8"><enum>(C)</enum><text display-inline="yes-display-inline">in paragraph (3), by striking
<quote>$100,000 per account</quote> and inserting the following:
<quote>$250,000 per account, which amount shall be subject to inflation
adjustments in the same manner as under paragraph (6) with respect to the
standard maximum share insurance amount (as determined under paragraph (5),
except that <quote>$250,000</quote> shall be substituted for the amount
specified in paragraph (5)(A)(i) for purposes of this
paragraph).</quote>.</text>
</subparagraph></paragraph><paragraph commented="no" display-inline="no-display-inline" id="ID41A5E77CE0344A80A311AAAD4F0016B3"><enum>(2)</enum><header>Technical
amendment</header><text display-inline="yes-display-inline"><external-xref legal-doc="act" parsable-cite="FCUA/202(h)">Section 202(h)</external-xref> of
the <act-name parsable-cite="FCUA">Federal Credit Union Act</act-name>
(<external-xref legal-doc="usc" parsable-cite="usc/12/1782(h)">12 U.S.C.
1782(h)</external-xref>) is amended by striking <quote>207(c)(1)</quote> and
inserting <quote>207(k)</quote>.</text>
</paragraph></subsection><subsection commented="no" display-inline="no-display-inline" id="ID5C6A3F0F7DFB45AC960000CF1DA0E608"><enum>(c)</enum><header>Effective
date</header><text display-inline="yes-display-inline">Except as otherwise
specifically provided in this section or the amendments made by this section,
this section and such amendments shall become effective on the effective date
of the regulations required under section 205(a)(2), relating to the
implementation of deposit insurance increases under this section.</text>
</subsection></section><section commented="no" display-inline="no-display-inline" id="IDC7298192DCA14D2A86994482A51BEBDE" section-type="subsequent-section"><enum>203.</enum><header>Designated reserve
ratio</header>
<subsection commented="no" display-inline="no-display-inline" id="ID51F52E2553E74711924D00CB5EFE7D40"><enum>(a)</enum><header>In
general</header>
<paragraph commented="no" display-inline="no-display-inline" id="ID72FC9393410A4EEFBAFEC9831F7EE594"><enum>(1)</enum><header>Amendment to
Section <enum-in-header>7</enum-in-header></header><text display-inline="yes-display-inline"><external-xref legal-doc="act" parsable-cite="FDIA/7(b)(3)">Section 7(b)(3)</external-xref> of the
<act-name parsable-cite="FDIA">Federal Deposit Insurance Act</act-name>
(<external-xref legal-doc="usc" parsable-cite="usc/12/1817(b)(3)">12 U.S.C.
1817(b)(3)</external-xref>) is amended to read as follows:</text>
<quoted-block act-name="Federal Deposit Insurance Act" display-inline="no-display-inline" id="ID729B3A38631F4E8598A977CD0503BC92" style="OLC">
<paragraph commented="no" display-inline="no-display-inline" id="ID4F500CF97C79494083E9125144A7001E"><enum>(3)</enum><header>Designated
reserve ratio</header>
<subparagraph commented="no" display-inline="no-display-inline" id="IDDF337A10BC104584818DB685EA955023"><enum>(A)</enum><header>Action by the
Board</header>
<clause commented="no" display-inline="no-display-inline" id="IDF677C41615C74EB9A42032F8A9394FC4"><enum>(i)</enum><header>In
general</header><text display-inline="yes-display-inline">Before the beginning
of each calendar year, the Board of Directors shall, subject to clause
(ii)—</text>
<subclause commented="no" display-inline="no-display-inline" id="IDF83FA04F1B184CC09CC0223C0020D1F3"><enum>(I)</enum><text display-inline="yes-display-inline">designate the reserve ratio applicable to
the Deposit Insurance Fund for that year; and</text>
</subclause><subclause commented="no" display-inline="no-display-inline" id="IDCBC164759B8F49CE8CD640B44668EEF9"><enum>(II)</enum><text display-inline="yes-display-inline">publish the reserve ratio so
designated.</text>
</subclause></clause><clause commented="no" display-inline="no-display-inline" id="ID9DB4B7FCFCD74F4E9DEE1B4069BC4241"><enum>(ii)</enum><header>Rulemaking</header><text display-inline="yes-display-inline">Any change to the designated reserve ratio
for any calendar year shall be made pursuant to section 553 of title 5, United
States Code.</text>
</clause></subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="ID44266A5E0FF8496CA4204309C52B24CF"><enum>(B)</enum><header>Range</header><text display-inline="yes-display-inline">The reserve ratio designated by the Board
of Directors for any year—</text>
<clause commented="no" display-inline="no-display-inline" id="IDC83633AB28B74FC280C138106671014B"><enum>(i)</enum><text display-inline="yes-display-inline">may not exceed 1.50 percent of aggregate
estimated insured deposits; and</text>
</clause><clause commented="no" display-inline="no-display-inline" id="IDC3BE2169915F456EA8C05B1123908D8C"><enum>(ii)</enum><text display-inline="yes-display-inline">may not be less than 1.0 percent of
aggregate estimated insured deposits.</text>
</clause></subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="IDD5F6127312E54122A1F8363910DCA6B4"><enum>(C)</enum><header>Factors</header><text display-inline="yes-display-inline">In designating a reserve ratio for any
year, the Board of Directors shall—</text>
<clause commented="no" display-inline="no-display-inline" id="ID50949D58BC4F4A7EA3B8B5BCF133D38C"><enum>(i)</enum><text display-inline="yes-display-inline">take into account the risk of losses to the
Deposit Insurance Fund in that year and in future years;</text>
</clause><clause commented="no" display-inline="no-display-inline" id="ID166EA519362241468B1B05B91E46125E"><enum>(ii)</enum><text display-inline="yes-display-inline">take into account economic conditions
generally affecting insured depository institutions, to provide for an increase
in the designated reserve ratio during more favorable economic conditions and
to provide for a decrease in the designated reserve ratio during less favorable
economic conditions, notwithstanding the increased risks of loss that may exist
during such less favorable conditions, as determined to be appropriate by the
Board;</text>
</clause><clause commented="no" display-inline="no-display-inline" id="IDD26D8B17C30D4BD5A9399681A76320CF"><enum>(iii)</enum><text display-inline="yes-display-inline">seek to prevent sharp swings in the
assessment rates for insured depository institutions; and</text>
</clause><clause commented="no" display-inline="no-display-inline" id="ID602B69B203854EBC94C83E152B66C64B"><enum>(iv)</enum><text display-inline="yes-display-inline">take into account such other factors as the
Board of Directors may determine to be appropriate, consistent with the
requirements of this
subparagraph.</text>
</clause></subparagraph></paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="IDB8DE0A05116A4BA89C8F74A2BEF3ABBC"><enum>(2)</enum><header>Technical and
conforming amendments</header><text display-inline="yes-display-inline"><external-xref legal-doc="act" parsable-cite="FDIA/3(y)">Section 3(y)</external-xref> of the
<act-name parsable-cite="FDIA">Federal Deposit Insurance Act</act-name>
(<external-xref legal-doc="usc" parsable-cite="usc/12/1813">12 U.S.C.
1813</external-xref>), as added by this Act, is amended by adding at the end
the following:</text>
<quoted-block act-name="Federal Deposit Insurance Act" display-inline="no-display-inline" id="ID8161C22EBDEA450F0047F73DCB69444C" style="OLC">
<paragraph commented="no" display-inline="no-display-inline" id="ID19140659251F4968933C573D4DED1006"><enum>(2)</enum><header>Reserve
ratio</header><text display-inline="yes-display-inline">The term <term>reserve
ratio</term> means the ratio of the fund balance of the Deposit Insurance Fund
to aggregate estimated insured deposits held in all insured depository
institutions.</text>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="IDA6C0E77D225C4C63B234D8B7CFF9EAB5"><enum>(3)</enum><header>Designated
reserve ratio</header><text display-inline="yes-display-inline">The term
<term>designated reserve ratio</term> means the reserve ratio designated by the
Board of Directors under section
7(b)(3).</text>
</paragraph><after-quoted-block>.</after-quoted-block></quoted-block>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="IDF8D2089A2E6D41009B588F9F4400BCBD"><enum>(3)</enum><header>Effective
date</header><text display-inline="yes-display-inline">Subject to paragraph
(4), this subsection and the amendments made by this subsection shall become
effective on the effective date of the regulations required under section
205(a)(1), relating to designation of the reserve ratio by the Board.</text>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="ID7BD01A8AF8EF4714B4F4C09C00533CF9"><enum>(4)</enum><header>Designation of
initial reserve ratio for Deposit Insurance Fund</header><text display-inline="yes-display-inline">During the period beginning on the
effective date of the merger of the deposit insurance funds under section 102,
and ending on the effective date of final regulations designating the reserve
ratio, as required by section 205(a)(1), the designated reserve ratio of the
Deposit Insurance Fund shall continue to be determined pursuant to section
7(b)(2)(A)(iv), as in effect on the day before the effective date of the merger
under section 102.</text>
</paragraph></subsection><subsection commented="no" display-inline="no-display-inline" id="IDBF97E1B96B3B467CB7B474967EC98626"><enum>(b)</enum><header>Requirements
applicable to any modification of the Risk-Based assessment
system</header><text display-inline="yes-display-inline"><external-xref legal-doc="act" parsable-cite="FDIA/7(b)(1)">Section 7(b)(1)</external-xref> of
the <act-name parsable-cite="FDIA">Federal Deposit Insurance Act</act-name>
(<external-xref legal-doc="usc" parsable-cite="usc/12/1817(b)(1)">12 U.S.C.
1817(b)(1)</external-xref>) is amended by adding at the end the
following:</text>
<quoted-block act-name="Federal Deposit Insurance Act" display-inline="no-display-inline" id="IDDDC8D9B01CF1414B991564256FC7C7B2" style="OLC">
<subparagraph commented="no" display-inline="no-display-inline" id="IDA261AE4867DB490396C202D03E94C3BE"><enum>(E)</enum><header>Requirements
applicable to any modification of the Risk-Based assessment system</header>
<clause commented="no" display-inline="no-display-inline" id="IDDAE5117CBD5E47C09BF9B807C96B858C"><enum>(i)</enum><header>In
general</header><text display-inline="yes-display-inline">In revising or
modifying the risk-based assessment system at any time after the date of
enactment of the <short-title>Deposit Insurance Reform Act
of 2005</short-title>, the Board of Directors—</text>
<subclause commented="no" display-inline="no-display-inline" id="IDC871B4369B30427AA34C5BAE19ABE767"><enum>(I)</enum><text display-inline="yes-display-inline">may not make any change to the information
collected from or required to be retained by insured depository institutions
solely for purposes of the assessment risk classification, as defined by
regulations of the Board, if the change would result in the imposition of an
overall greater regulatory or reporting burden on insured depository
institutions than was the case before that date of enactment; and</text>
</subclause><subclause commented="no" display-inline="no-display-inline" id="ID0C057C5C72934BD7A1654D1C551BE938"><enum>(II)</enum><text display-inline="yes-display-inline">may implement any such revision or
modification in final form only after notice and opportunity for
comment.</text>
</subclause></clause><clause commented="no" display-inline="no-display-inline" id="ID13036FED0C2B4E34979DB1B578B238C7"><enum>(ii)</enum><header>Rule of
construction</header><text display-inline="yes-display-inline">An increase in
an assessment rate or a revision of the assessment base shall not be considered
to be a revision or modification resulting in greater regulatory or reporting
burden for purposes of this
subparagraph.</text>
</clause></subparagraph><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection></section><section commented="no" display-inline="no-display-inline" id="IDB07E4348A19F439A90FD07AFE9C65DD7" section-type="subsequent-section"><enum>204.</enum><header>Assessment credits
and dividends</header>
<subsection commented="no" display-inline="no-display-inline" id="ID16BD2A373B11455D9C22E84EF0259D41"><enum>(a)</enum><header>In
general</header><text display-inline="yes-display-inline"><external-xref legal-doc="act" parsable-cite="FDIA/7(e)">Section 7(e)</external-xref> of the
<act-name parsable-cite="FDIA">Federal Deposit Insurance Act</act-name>
(<external-xref legal-doc="usc" parsable-cite="usc/12/1817(e)">12 U.S.C.
1817(e)</external-xref>) is amended to read as follows:</text>
<quoted-block act-name="Federal Deposit Insurance Act" display-inline="no-display-inline" id="IDE6B7D1EF3B26408ABEEC23E86C73946F" style="OLC">
<subsection commented="no" display-inline="no-display-inline" id="ID32FB3D0437E54D21BDBD695815120877"><enum>(e)</enum><header>Credits and
dividends</header>
<paragraph commented="no" display-inline="no-display-inline" id="IDCFCC2FE76FAD477E90F06E00A689E000"><enum>(1)</enum><header>One-time credit
based on total assessment base at year-end 1996</header>
<subparagraph commented="no" display-inline="no-display-inline" id="ID4DB610122C484D0A99E42425A6CD8B1E"><enum>(A)</enum><header>In
general</header><text display-inline="yes-display-inline">The Board of
Directors shall, by regulation, provide for a credit to each insured depository
institution that was in existence on December 31, 1996, and that had paid a
deposit insurance assessment prior to that date (or a successor insured
depository institution), based on the assessment base of the institution on
that date, as compared to the combined aggregate assessment base of all such
institutions, taking into account such factors as the Board may determine to be
appropriate.</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="IDED74699413B24CFBB9F7D4D11303A700"><enum>(B)</enum><header>Credit
limit</header><text display-inline="yes-display-inline">The aggregate amount of
credits available under subparagraph (A) to all insured depository institutions
that are eligible for the credit shall not exceed the amount that the
Corporation could collect if it imposed an assessment of 9 basis points on the
combined assessment base of the Bank Insurance Fund and the Savings Association
Insurance Fund as of December 31, 2001.</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="IDC0F866326EA14A3992AD37003092A581"><enum>(C)</enum><header>Application of
credits</header><text display-inline="yes-display-inline">The amount of a
credit to any insured depository institution under this paragraph may be
applied by the Corporation to those portions of the assessments under
subsection (b) applicable to that institution which become due for assessment
periods beginning after the effective date of regulations required by
subparagraph (A).</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="ID5A61CDA3F63E4F909B6C2FC4CC215787"><enum>(D)</enum><header>Challenges to
credit amounts</header><text display-inline="yes-display-inline">The
regulations required by subparagraph (A) shall include provisions allowing an
insured depository institution a reasonable opportunity to challenge
administratively the amount of its credit under this paragraph. The
determination of the Corporation of the amount of the credit following such
challenge shall be final, and not subject to judicial review.</text>
</subparagraph></paragraph><paragraph commented="no" display-inline="no-display-inline" id="ID704F944CBB904774945B238FEFD675CA"><enum>(2)</enum><header>Assessment
credits</header>
<subparagraph commented="no" display-inline="no-display-inline" id="ID15F4BD50A1024BB9A165F91C25A49BBE"><enum>(A)</enum><header>Authority</header><text display-inline="yes-display-inline">The Board of Directors shall, by
regulation, establish the qualifications and procedures under which the
Corporation would apply assessment credits for the assessment periods beginning
on or after the first assessment period to which a credit under paragraph (1)
applies.</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="ID926D0DD8EBF44A908ECDADB8C066D734"><enum>(B)</enum><header>Criteria for
determination</header><text display-inline="yes-display-inline">In determining
whether to provide assessment credits under this paragraph and in what amounts,
the Board of Directors shall take into account the factors for setting
assessments under subsection (b)(2) and the factors for designating the reserve
ratio under subsection (b)(3).</text>
</subparagraph></paragraph><paragraph commented="no" display-inline="no-display-inline" id="id56B12C5C275E41ECB2F4D50EFCB86A8E"><enum>(3)</enum><header>Dividends</header>
<subparagraph commented="no" display-inline="no-display-inline" id="ID39324f19974745b0984177c2d1252065"><enum>(A)</enum><header>Reserve ratio
in excess of 1.50 percent of estimated insured deposits</header><text display-inline="yes-display-inline">The Corporation shall provide cash
dividends to insured depository institutions in accordance with this paragraph
if the reserve ratio of the Deposit Insurance Fund exceeds the maximum amount
established under subsection (b)(3)(B)(i), to the extent of that excess
amount.</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="id43695F347C0D41DCB690F2EF9903B90F"><enum>(B)</enum><header>Amount equal to
or in excess of 1.40 percent of estimated insured deposits and not more than
1.50 percent</header><text display-inline="yes-display-inline">The Corporation
shall provide cash dividends to insured depository institutions in accordance
with this paragraph if the reserve ratio of the Deposit Insurance Fund equals
or exceeds 1.40 and is not more than 1.50 percent, and that amount shall equal
50 percent of the amount in excess of the amount required to maintain the
reserve ratio at 1.40 percent of the estimated insured deposits.</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="ID31332d66b10a4281a1a1b4847cad8ef9"><enum>(C)</enum><header>Limitation</header><text display-inline="yes-display-inline">The Board of Directors may suspend or limit
dividends paid under this paragraph if the Board determines in writing
that—</text>
<clause commented="no" display-inline="no-display-inline" id="IDbe125a57638b4667832cbc8c6706ce4d"><enum>(i)</enum><text display-inline="yes-display-inline">a significant risk of losses to the Deposit
Insurance Fund exists over the next one-year period; and</text>
</clause><clause commented="no" display-inline="no-display-inline" id="IDde25d6c2cfde40c59133c192cf57f8fa"><enum>(ii)</enum><text display-inline="yes-display-inline">it is likely that such losses will be
sufficiently high as to justify a finding by the Board that the reserve ratio
should temporarily exceed the maximum amount established under subsection
(b)(3)(B)(i).</text>
</clause></subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="IDf3033720e54a49409a923669fa90b7b8"><enum>(D)</enum><header>Considerations</header><text display-inline="yes-display-inline">In making a determination under
subparagraph (B), the Board shall consider—</text>
<clause commented="no" display-inline="no-display-inline" id="IDeaa072d17da346c98753b8bbe63db211"><enum>(i)</enum><text display-inline="yes-display-inline">national and regional conditions and their
impact on insured depository institutions;</text>
</clause><clause commented="no" display-inline="no-display-inline" id="IDde7dfdbdedb346a18751810ce2691813"><enum>(ii)</enum><text display-inline="yes-display-inline">potential problems affecting insured
depository institutions or a specific group or type of depository
institution;</text>
</clause><clause commented="no" display-inline="no-display-inline" id="IDf27e3ea8b4b64be29332448c1dd4cd7b"><enum>(iii)</enum><text display-inline="yes-display-inline">the degree to which the contingent
liability of the Corporation for anticipated failures of insured institutions
adequately addresses concerns over funding levels in the Deposit Insurance
Fund; and</text>
</clause><clause commented="no" display-inline="no-display-inline" id="ID30a218f8a6614033ac5274df33ced023"><enum>(iv)</enum><text display-inline="yes-display-inline">any other factors that the Board determines
is appropriate.</text>
</clause></subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="IDd6577de5c31c4684be44f9e547ce7cdd"><enum>(E)</enum><header>Report to
congress</header>
<clause commented="no" display-inline="no-display-inline" id="id8F64C0D333AA45C1A5CD1ACFE810B49C"><enum>(i)</enum><header>Submission</header><text display-inline="yes-display-inline">Any determination under subparagraph (B)
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.</text>
</clause><clause commented="no" display-inline="no-display-inline" id="idF125E0C3631B468CB87C026851AD5D9E"><enum>(ii)</enum><header>Content</header><text display-inline="yes-display-inline">The report submitted under clause (i) shall
include—</text>
<subclause commented="no" display-inline="no-display-inline" id="id42A234E07B234208B8E256F3F996FD7F"><enum>(I)</enum><text display-inline="yes-display-inline">a complete explanation for the
determination; and</text>
</subclause><subclause commented="no" display-inline="no-display-inline" id="id9A72896219A644179426AAFF627AA082"><enum>(II)</enum><text display-inline="yes-display-inline">a discussion of the factors required to be
considered under subparagraph (C).</text>
</subclause></clause></subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="IDdb56975f12144f8aa5032a7f767a8371"><enum>(F)</enum><header>Review of
determination</header>
<clause commented="no" display-inline="no-display-inline" id="idF5FFA1CE85AA4530811307ABC46CC413"><enum>(i)</enum><header>Annual
review</header><text display-inline="yes-display-inline">A determination to
suspend or limit dividends under subparagraph (B) shall be reviewed by the
Board of Directors annually.</text>
</clause><clause commented="no" display-inline="no-display-inline" id="id8090AA279FF5495C9BD66A93F213F526"><enum>(ii)</enum><header>Action by
board</header><text display-inline="yes-display-inline">Based on each annual
review under clause (i), the Board of Directors shall either renew or remove a
determination to suspend or limit dividends under subparagraph (B), or shall
make a new determination in accordance with this paragraph. Unless justified
under the terms of the renewal or new determination, any amount as is in the
Fund in excess of the amount required to maintain the reserve ratio at the
maximum amount established under subsection (b)(3)(B)(i) shall be paid as
dividends to insured depository institutions in accordance with this
paragraph.</text>
</clause></subparagraph></paragraph></subsection><after-quoted-block>.</after-quoted-block></quoted-block>
</subsection><subsection commented="no" display-inline="no-display-inline" id="IDBA83F7E73FC94AC3A2C2BF7156664E05"><enum>(b)</enum><header>Effective
date</header><text display-inline="yes-display-inline">The amendments made by
this section shall become effective on the effective date of the regulations
required to be issued under section 205(a)(2), relating to implementation of
the one-time assessment credit.</text>
</subsection></section><section commented="no" display-inline="no-display-inline" id="IDB1AEBD7D1CDB4C17BEDEC150008EA8A1" section-type="subsequent-section"><enum>205.</enum><header>Regulations
required</header>
<subsection commented="no" display-inline="no-display-inline" id="IDA8B8C8F3C386497992D3E3CE28801B09"><enum>(a)</enum><header>In
general</header><text display-inline="yes-display-inline">Not later than 270
days after the date of enactment of this Act, the Board shall issue final
regulations, in accordance with section 553 of chapter 5 of title 5, United
States Code—</text>
<paragraph commented="no" display-inline="no-display-inline" id="IDAB0E263977424D9ABD834F6FBB57FB39"><enum>(1)</enum><text display-inline="yes-display-inline">designating the reserve ratio for the
Deposit Insurance Fund in accordance with
<external-xref legal-doc="act" parsable-cite="FDIA/7(b)(3)">section
7(b)(3)</external-xref> of the <act-name parsable-cite="FDIA">Federal Deposit
Insurance Act</act-name>, as amended by section 203 of this Act, which
regulations shall become effective not later than 90 days after the date of
their publication in final form;</text>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="ID4855A42A4F344707B300D0F98037CA21"><enum>(2)</enum><text display-inline="yes-display-inline">implementing increases in deposit insurance
coverage in accordance with the amendments made by section 202, which
regulations shall become effective not later than 90 days after the date of
their publication in final form;</text>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="ID31967F0A072D46648830E000B80175EC"><enum>(3)</enum><text display-inline="yes-display-inline">implementing the one-time assessment credit
to certain insured depository institutions in accordance with
<external-xref legal-doc="act" parsable-cite="FDIA/7(e)(2)">section
7(e)(2)</external-xref> of the <act-name parsable-cite="FDIA">Federal Deposit
Insurance Act</act-name>, as amended by section 204 of this Act;</text>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="IDE86750179FF84703B09B301800E740BA"><enum>(4)</enum><text display-inline="yes-display-inline">establishing the qualifications and
procedures under which the Corporation may provide ongoing assessment credits,
under <external-xref legal-doc="act" parsable-cite="FDIA/7(e)(3)">section
7(e)(3)</external-xref> of the <act-name parsable-cite="FDIA">Federal Deposit
Insurance Act</act-name>, as amended by section 204 of this Act; and</text>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="ID99A3271739474A609E7ECBB5A4C54F81"><enum>(5)</enum><text display-inline="yes-display-inline">providing for assessments under
<external-xref legal-doc="act" parsable-cite="FDIA/7">section 7</external-xref>
of the <act-name parsable-cite="FDIA">Federal Deposit Insurance Act</act-name>,
as amended by this Act, which regulations shall become effective on the
effective date of the regulations required by paragraph (3).</text>
</paragraph></subsection><subsection commented="no" display-inline="no-display-inline" id="IDBF2079F8C3A8482CAE3D00A3619CF726"><enum>(b)</enum><header>Savings
clause</header>
<paragraph commented="no" display-inline="no-display-inline" id="IDB3E322632E534FD7A50107D6D3F95C00"><enum>(1)</enum><header>In
general</header><text display-inline="yes-display-inline">Nothing in this Act
or the amendments made by this Act shall be construed to affect the authority
of the Corporation with regard to the setting or collection of deposit
insurance assessments prior to the effective date of any regulations required
under subsection (a).</text>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="ID2B92AB7EBCE14C6CB7123230C7B5881C"><enum>(2)</enum><header>Preservation of
minimum assessment provision</header><text display-inline="yes-display-inline">Subparagraph (E) of
<external-xref legal-doc="act" parsable-cite="FDIA/7(b)(2)">section
7(b)(2)</external-xref> of the <act-name parsable-cite="FDIA">Federal Deposit
Insurance Act</act-name> (<external-xref legal-doc="usc" parsable-cite="usc/12/1817(b)(2)">12 U.S.C. 1817(b)(2)</external-xref>), as in
effect on the day before the effective date of title I of this Act, shall
continue to apply with respect to deposit insurance assessments imposed prior
to the effective date of the regulations required under subsection (a)(5) of
this section.</text>
</paragraph></subsection></section><section commented="no" display-inline="no-display-inline" id="ID3FC890B0677147F0A365FBA9BC705CE9" section-type="subsequent-section"><enum>206.</enum><header>Studies of potential
changes to the Federal deposit insurance system</header>
<subsection commented="no" display-inline="no-display-inline" id="ID484AE89F709E4599BF3C68FD1E88CD9C"><enum>(a)</enum><header>Study and
report by FDIC and NCUA</header>
<paragraph commented="no" display-inline="no-display-inline" id="IDEA78CC0466F649A0964FF100D22F7115"><enum>(1)</enum><header>Study</header><text display-inline="yes-display-inline">The Board of Directors of the Federal
Deposit Insurance Corporation and the National Credit Union Administration
Board shall each conduct a study of—</text>
<subparagraph commented="no" display-inline="no-display-inline" id="ID6FE86861DD1A454187A64723E48ED539"><enum>(A)</enum><text display-inline="yes-display-inline">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; and</text>
</subparagraph><subparagraph commented="no" display-inline="no-display-inline" id="ID65EDC455079E4E95AA850068196BE52D"><enum>(B)</enum><text display-inline="yes-display-inline">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.</text>
</subparagraph></paragraph><paragraph commented="no" display-inline="no-display-inline" id="IDAF1CCE1EB1554AEA9F6D31568D47AD77"><enum>(2)</enum><header>Report</header><text display-inline="yes-display-inline">Not later than 1 year after the date of
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.</text>
</paragraph></subsection><subsection commented="no" display-inline="no-display-inline" id="ID4A66914A3F054C4E911C56FF3181844E"><enum>(b)</enum><header>Study and
report regarding appropriate reserve ratio</header>
<paragraph commented="no" display-inline="no-display-inline" id="IDB6B6F3A359534A23885E3ED3EDF03741"><enum>(1)</enum><header>Study</header><text display-inline="yes-display-inline">The Corporation shall conduct a study on
the feasibility of using actual deposits rather than estimated insured deposits
in calculating the reserve ratio of the Deposit Insurance Fund.</text>
</paragraph><paragraph commented="no" display-inline="no-display-inline" id="ID4BD9C9E7B82A43C5A920B1CDB5628975"><enum>(2)</enum><header>Report</header><text display-inline="yes-display-inline">Not later than 1 year after the date of
enactment of this Act, the Board shall submit a report to Congress on the
results of the study required under paragraph (1), together with such
recommendations for legislative or administrative actions as may be determined
to be appropriate.</text>
</paragraph></subsection></section><section commented="no" display-inline="no-display-inline" id="ID07F28F2F4A7D4A32A2A4D7C7D0C167B1" section-type="subsequent-section"><enum>207.</enum><header>Effective
date</header><text display-inline="no-display-inline">Except as otherwise
specifically provided in this title, this title and the amendments made by this
title shall become effective on the date of enactment of this Act.</text>
</section>