110 HR 6565 IH: To provide additional authority to the Federal Deposit U.S. House of Representatives 2008-07-22 text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.

I 110th CONGRESS 2d Session H. R. 6565 IN THE HOUSE OF REPRESENTATIVES July 22, 2008 Mr. Dreier introduced the following bill; which was referred to the Committee on Financial Services A BILL To provide additional authority to the Federal Deposit Insurance Corporation in resolving problem financial institutions, and for other purposes.

1.

Short title

This Act may be cited as the FDIC Flexibility Act of 2008.

2.

Additional flexibility for the FDIC

(a)

In general

Section 13(c) of the Federal Deposit Insurance Act (U.S.C. 1823(c)) is amended— (1)by striking paragraph (4) and inserting the following new paragraph: (4)

[Repealed]

; and (2)by striking paragraph (8) and inserting the following new paragraph: (8)

[Repealed]

. (b)

Repeal of limitations on advances

Subsection (b) of section 10B of the Federal Reserve Act (12 U.S.C. 347b) is amended to read as follows: (b)

[Repealed]

. (c)

Other related provisions

(1)Subparagraph (D) of section 11(d)(5) of the Federal Deposit Insurance Act (U.S.C. 1821(d)(5)) is amended by striking clauses (ii) and (iii) and inserting the following: (ii)

[Repealed]

(iii)

[Repealed]

. (2)Paragraph (4) of section 11(d) of the Federal Deposit Insurance Act (U.S.C. 1821(d)) is amended to read as follows: (4)

[Repealed]

. (3)Section 143 of the Federal Deposit Insurance Corporation Improvement Act of 1991 (12 U.S.C. 1823 note) is hereby repealed.