Notes on 12 U.S.C. § 1817 : US Code - Notes

Search Notes on 12 U.S.C. § 1817 : US Code - Notes

(Sept. 21, 1950, ch. 967, Sec. 2[7], 64 Stat. 876; Pub. L. 86-671,
Secs. 2, 3, July 14, 1960, 74 Stat. 547-551; Pub. L. 88-593, Sept.
12, 1964, 78 Stat. 940; Pub. L. 89-695, title II, Sec. 201, title
III, Sec. 301(b), Oct. 16, 1966, 80 Stat. 1046, 1055; Pub. L. 91-
151, Sec. 7(a)(2), Dec. 23, 1969, 83 Stat. 375; Pub. L. 91-609,
title IX, Sec. 910(g), (h), Dec. 31, 1970, 84 Stat. 1812; Pub. L.
93-495, title I, Secs. 101(a)(2), 102(a)(2), Oct. 28, 1974, 88
Stat. 1500, 1502; Pub. L. 95-369, Sec. 6(c)(8)-(13), Sept. 17,
1978, 92 Stat. 617, 618; Pub. L. 95-630, title III, Secs. 302, 310,
title VI, Sec. 602, title IX, Sec. 901, Nov. 10, 1978, 92 Stat.
3676, 3678, 3683, 3693; Pub. L. 96-221, title III, Sec.
308(a)(1)(B), (d), Mar. 31, 1980, 94 Stat. 147, 148; Pub. L. 97-
110, title I, Sec. 103(b), Dec. 26, 1981, 95 Stat. 1514; Pub. L.
97-320, title I, Secs. 113(d)-(f), (q), 117, title IV, Sec. 429,
Oct. 15, 1982, 96 Stat. 1473, 1475, 1479, 1527; Pub. L. 99-570,
title I, Sec. 1360, Oct. 27, 1986, 100 Stat. 3207-29; Pub. L. 100-
86, title V, Sec. 505(a), Aug. 10, 1987, 101 Stat. 633; Pub. L.
101-73, title II, Secs. 201, 208, title IX, Secs. 905(c), 907(d),
911(c), 931(a), Aug. 9, 1989, 103 Stat. 187, 206, 460, 468, 479,
493; Pub. L. 101-508, title II, Secs. 2002-2004, Nov. 5, 1990, 104
Stat. 1388-14 - 1388-16; Pub. L. 102-242, title I, Secs. 103(b),
104, 113(c)(1), 141(c), title II, Secs. 205, 232(b), 233(c), title
III, Secs. 302(a), (b), (e)(3), (4), formerly (e)(2), (3),
311(a)(2), (b)(3), 313(a), title IV, Sec. 474, Dec. 19, 1991, 105
Stat. 2238, 2247, 2277, 2292, 2310, 2314, 2345, 2348, 2349, 2363,
2365, 2368, 2386; Pub. L. 102-550, title IX, Sec. 931(a), (b),
title XVI, Secs. 1603(a)(1), (3), 1604(b)(1), (3), 1605(a)(2),
(5)(A), (6), (b)(1), (2), 1606(i)(1), Oct. 28, 1992, 106 Stat.
3888, 4078, 4083, 4085-4087, 4089; Pub. L. 102-558, title III,
Secs. 303(a), (b)(1), (3), (6)(A), (7), (8), 305, Oct. 28, 1992,
106 Stat. 4224-4226; Pub. L. 103-204, Secs. 8(h), 38(a), Dec. 17,
1993, 107 Stat. 2388, 2416; Pub. L. 103-325, title III, Secs.
305(b), 308(b), 348, title VI, Sec. 602(a)(4)-(10), Sept. 23, 1994,
108 Stat. 2217, 2218, 2241, 2288; Pub. L. 104-208, div. A, title
II, Secs. 2226, 2703(b), 2704(d)(6)(B), (14)(G), 2706-2708, Sept.
30, 1996, 110 Stat. 3009-417, 3009-485, 3009-488, 3009-491, 3009-
496, 3009-497; Pub. L. 106-569, title XII, Sec. 1231(a), Dec. 27,
2000, 114 Stat. 3036; Pub. L. 108-386, Sec. 8(a)(2), Oct. 30, 2004,
118 Stat. 2231; Pub. L. 109-171, title II, Secs. 2102(b), 2104(a),
(b), (d), 2105(a), 2106, 2107(a), 2108, Feb. 8, 2006, 120 Stat. 9,
12-16, 19; Pub. L. 109-173, Secs. 2(b), 3(a)(1)-(5), 8(a)(8), (9),
Feb. 15, 2006, 119 Stat. 3602, 3605, 3611; Pub. L. 109-351, title
VI, Sec. 604, title VII, Secs. 705, 707(a), Oct. 13, 2006, 120
Stat. 1980, 1987.)
REFERENCES IN TEXT
The Bank Enterprise Act of 1991, referred to in subsec.
(b)(2)(E), is subtitle C (Secs. 231-234) of title II of Pub. L. 102-
242, Dec. 19, 1991, 105 Stat. 2308-2315, which enacted sections
1834 to 1834b of this title, amended this section, and enacted
provisions set out as a note under section 1811 of this title. For
complete classification of this Act to the Code, see Short Title of
1991 Amendment note set out under section 1811 of this title and
Tables.
The National Bank Act, referred to in subsec. (h), is act June 3,
1864, ch. 106, 13 Stat. 99, as amended, which is classified
principally to chapter 2 (Sec. 21 et seq.) of this title. For
complete classification of this Act to the Code, see References in
Text note set out under section 38 of this title.
The Federal Reserve Act, referred to in subsec. (h), is act Dec.
23, 1913, ch. 6, 38 Stat. 251, as amended, which is classified
principally to chapter 3 (Sec. 221 et seq.) of this title. For
complete classification of this Act to the Code, see References in
Text note set out under section 226 of this title and Tables.
The Bank Holding Company Act of 1956, referred to in subsec.
(j)(9)(E)(i), is act May 9, 1956, ch. 240, 70 Stat. 133, as
amended, which is classified principally to chapter 17 (Sec. 1841
et seq.) of this title. For complete classification of this Act to
the Code, see Short Title note set out under section 1841 of this
title and Tables.
For effective date of the Change in Bank Control Act of 1978
[title VI of Pub. L. 95-630], referred to in subsec. (j)(14), see
section 2101 of Pub. L. 95-630, set out as an Effective Date note
under section 375b of this title.
The National Housing Act, referred to in subsec. (m)(6) to (8),
is act June 27, 1934, ch. 847, 48 Stat. 1246, as amended, which is
classified principally to chapter 13 (Sec. 1701 et seq.) of this
title. Section 404 of the National Housing Act, is section 1727 of
this title, as such section was in effect prior to repeal by Pub.
L. 101-73, title IV, Sec. 407, Aug. 9, 1989, 103 Stat. 363. For
complete classification of this Act to the Code, see section 1701
of this title and Tables.
The calendar year in which the Financial Institutions Reform,
Recovery, and Enforcement Act of 1989 is enacted, referred to in
subsec. (m)(8), means the calendar year in which Pub. L. 101-73 was
enacted. Such Act was approved Aug. 9, 1989.
PRIOR PROVISIONS
Section is derived from subsec. (h) of former section 264 of this
title. See Codification note under section 1811 of this title.
AMENDMENTS
2006 - Subsec. (a)(2)(C). Pub. L. 109-351, Sec. 707(a), added
subpar. (C).
Subsec. (a)(3). Pub. L. 109-173, Sec. 3(a)(1), substituted "Such
reports of condition shall be the basis for the certified
statements to be filed pursuant to subsection (c)." for "Two dates
shall be selected within the semiannual period of January to June
inclusive, and the reports on such dates shall be the basis for the
certified statement to be filed in July pursuant to subsection (c)
of this section, and two dates shall be selected within the
semiannual period of July to December inclusive, and the reports on
such dates shall be the basis for the certified statement to be
filed in January pursuant to subsection (c) of this section."
Subsec. (a)(11). Pub. L. 109-351, Sec. 604, added par. (11).
Subsec. (b)(1)(B)(ii). Pub. L. 109-173, Sec. 3(a)(2), struck out
"semiannual" before "assessment".
Subsec. (b)(1)(C). Pub. L. 109-173, Sec. 3(a)(2), struck out
"semiannual" before "assessment based" in introductory provisions.
Subsec. (b)(1)(C)(i), (iii). Pub. L. 109-173, Sec. 8(a)(8)(A),
substituted "Deposit Insurance Fund" for "deposit insurance fund".
Subsec. (b)(1)(D). Pub. L. 109-173, Sec. 8(a)(8)(B), substituted
"the Deposit Insurance Fund" for "each deposit insurance fund".
Pub. L. 109-171, Sec. 2102(b), repealed Pub. L. 104-208, Sec.
2704(d)(14)(G)(i). See 1996 Amendment note below.
Subsec. (b)(1)(E), (F). Pub. L. 109-171, Sec. 2106, added
subpars. (E) and (F).
Subsec. (b)(2)(A). Pub. L. 109-171, Sec. 2104(a)(1), added
subpar. (A) and struck out heading and text of former subpar. (A).
Text related to semiannual assessments for insured depository
institutions to achieve or maintain the reserve ratio of each
deposit insurance fund at the designated reserve ratio, the factors
to be considered by the Board of Directors, and limitations on the
assessment amount unless the insured depository institution
exhibited financial, operational, or compliance weaknesses ranging
from moderately severe to unsatisfactory or was not well
capitalized.
Subsec. (b)(2)(A)(i)(I), (iii), (iv). Pub. L. 109-171, Sec.
2102(b), repealed Pub. L. 104-208, Sec. 2704(d)(14)(G)(ii)-(iv).
See 1996 Amendment note below.
Subsec. (b)(2)(B). Pub. L. 109-171, Sec. 2104(a)(1), added
subpar. (B) and struck out heading and text of former subpar. (B).
Text read as follows: "The Board of Directors shall -
"(i) set semiannual assessments for members of each deposit
insurance fund independently from semiannual assessments for
members of any other deposit insurance fund; and
"(ii) set the designated reserve ratio of each deposit
insurance fund independently from the designated reserve ratio of
any other deposit insurance fund."
Pub. L. 109-171, Sec. 2102(b), repealed Pub. L. 104-208, Sec.
2704(d)(6)(B)(iii). See 1996 Amendment note below.
Subsec. (b)(2)(C). Pub. L. 109-173, Sec. 3(a)(3)(B), struck out
"semiannual" before "assessment".
Pub. L. 109-171, Sec. 2102(b), repealed Pub. L. 104-208, Sec.
2704(d)(6)(B)(iii), (14)(G)(v). See 1996 Amendment note below.
Subsec. (b)(2)(D). Pub. L. 109-171, Sec. 2104(a)(2), added
subpar. (D).
Pub. L. 109-171, Sec. 2102(b), repealed Pub. L. 104-208, Sec.
2704(d)(6)(B)(iii), (14)(G)(vi). See 1996 Amendment note below.
Subsec. (b)(2)(E) to (H). Pub. L. 109-173, Sec. 3(a)(3)(A), (C),
redesignated subpar. (H) as (E) and struck out former subpars. (E)
to (G), which related to minimum assessments, the transition rule
for the Savings Association Insurance Fund, and a special rule
until insurance funds achieved the designated reserve ratio,
respectively.
Pub. L. 109-171, Sec. 2102(b), repealed Pub. L. 104-208, Sec.
2704(d)(6)(B)(iii). See 1996 Amendment notes below.
Subsec. (b)(3). Pub. L. 109-171, Sec. 2105(a), amended par. (3)
generally. Prior to amendment, par. (3) related to a special rule
for recapitalizing undercapitalized funds.
Pub. L. 109-171, Sec. 2102(b), repealed Pub. L. 104-208, Sec.
2704(d)(14)(G)(vii). See 1996 Amendment notes below.
Subsec. (b)(3)(E). Pub. L. 109-171, Sec. 2108, added subpar. (E)
to par. (3), as amended by Pub. L. 109-171, Sec. 2105(a). See note
above.
Subsec. (b)(4). Pub. L. 109-173, Sec. 3(a)(4), redesignated par.
(5) as (4) and struck out heading and text of former par. (4). Text
read as follows: "For purposes of this section, the term
'semiannual period' means a period beginning on January 1 of any
calendar year and ending on June 30 of the same year, or a period
beginning on July 1 of any calendar year and ending on December 31
of the same year."
Subsec. (b)(5). Pub. L. 109-173, Sec. 8(a)(8)(C), substituted
"any such assessment is necessary" for "any such assessment" in
introductory provisions, struck out "(A) is necessary - "
immediately following introductory provisions, redesignated cls.
(i) to (iii) of former subpar. (A) as subpars (A) to (C),
respectively, and realigned margins, substituted "insured
depository institutions" for "Bank Insurance Fund members" in
subpar. (A), inserted "that" before "the Corporation" and
substituted period for "; and" at end of subpar. (C), and struck
out former subpar. (B) which read: "is allocated between Bank
Insurance Fund members and Savings Association Insurance Fund
members in amounts which reflect the degree to which the proceeds
of the amounts borrowed are to be used for the benefit of the
respective insurance funds."
Pub. L. 109-173, Sec. 3(a)(4), redesignated par. (6) as (5).
Former par. (5) redesignated (4).
Pub. L. 109-171, Sec. 2104(b), amended heading and text of par.
(5) generally. Prior to amendment, text read as follows: "Each
insured depository institution shall maintain all records that the
Corporation may require for verifying the correctness of the
institution's semiannual assessments. No insured depository
institution shall be required to retain those records for that
purpose for a period of more than 5 years from the date of the
filing of any certified statement, except that when there is a
dispute between the insured depository institution and the
Corporation over the amount of any assessment, the depository
institution shall retain the records until final determination of
the issue."
Subsec. (b)(6). Pub. L. 109-173, Sec. 3(a)(4), redesignated par.
(7) as (6). Former par. (6) redesignated (5).
Pub. L. 109-171, Sec. 2102(b), repealed Pub. L. 104-208, Sec.
2704(d)(14)(G)(viii). See 1996 Amendment note below.
Subsec. (b)(7). Pub. L. 109-173, Sec. 3(a)(4), redesignated par.
(7) as (6).
Subsec. (c)(1)(A), (2)(A). Pub. L. 109-173, Sec. 3(a)(5)(A), (B),
struck out "semiannual" before "assessment".
Subsec. (c)(3). Pub. L. 109-173, Sec. 3(a)(5)(C), substituted
"initial assessment period" for "semiannual period".
Subsec. (e). Pub. L. 109-171, Sec. 2107(a), amended heading and
text of subsec. (e) generally. Prior to amendment, text related to
refunds of any payment of an assessment by an insured depository
institution in excess of the amount due to the Corporation and
refunds in the event of a balance in the insurance fund in excess
of the designated reserve.
Subsec. (g). Pub. L. 109-171, Sec. 2104(d), amended subsec. (g)
generally. Prior to amendment, subsec. (g) provided that the
Corporation was entitled to recover, by suit, any unpaid assessment
lawfully payable to it by any insured depository institution,
except that no proceeding could be brought after 5 years after the
right accrued for which the claim was made unless fraudulent
certified statements had been made by the depository institution,
with special rules with respect to a cause of action which had
expired within one year from Sept. 21, 1950, and with respect to
assessments for any year prior to 1945.
Subsec. (i)(1), (3). Pub. L. 109-173, Sec. 2(b), substituted "the
standard maximum deposit insurance amount (as determined under
section 1821(a)(1) of this title)" for "$100,000".
Subsec. (j)(1)(D). Pub. L. 109-351, Sec. 705(1), substituted "is
needed - " for "is needed" and "title 31; or" for "title 31.",
inserted cl. (i) designation before "to investigate", and added cl.
(ii).
Subsec. (j)(7)(C). Pub. L. 109-351, Sec. 705(2), substituted
"either the financial condition of any acquiring person or the
future prospects of the institution" for "the financial condition
of any acquiring person".
Subsec. (j)(7)(F). Pub. L. 109-173, Sec. 8(a)(9), substituted
"Deposit Insurance Fund" for "Bank Insurance Fund or the Savings
Association Insurance Fund".
Subsecs. (l) to (n). Pub. L. 109-171, Sec. 2102(b), repealed Pub.
L. 104-208, Sec. 2704(d)(6)(B)(i), (ii). See 1996 Amendment note
below.
2004 - Subsec. (a)(1). Pub. L. 108-386 struck out "(except a
District bank)" after "State nonmember bank" in first sentence.
2000 - Subsec. (b)(2)(E)(iii). Pub. L. 106-569 amended directory
language of Pub. L. 104-208, Sec. 2707. See 1996 Amendment note
below.
1996 - Subsec. (b)(1)(D). Pub. L. 104-208, Sec.
2704(d)(14)(G)(i), which directed substitution of "the Deposit
Insurance Fund" for "each deposit insurance fund", was repealed by
Pub. L. 109-171. See Effective Date of 1996 Amendment note below
and 2006 Amendment note above.
Subsec. (b)(2)(A)(i). Pub. L. 104-208, Sec. 2708(a), inserted
"when necessary, and only to the extent necessary" after "insured
depository institutions" in introductory provisions.
Subsec. (b)(2)(A)(i)(I). Pub. L. 104-208, Sec.
2704(d)(14)(G)(ii), which directed substitution of "the Deposit
Insurance Fund" for "each deposit insurance fund", was repealed by
Pub. L. 109-171. See Effective Date of 1996 Amendment note below.
Subsec. (b)(2)(A)(iii). Pub. L. 104-208, Sec. 2708(b), amended
heading and text of cl. (iii) generally. Prior to amendment, text
read as follows: "The semiannual assessment for each member of a
deposit insurance fund shall be not less than $1,000."
Pub. L. 104-208, Sec. 2704(d)(14)(G)(iii), which directed
substitution of "the Deposit Insurance Fund" for "a deposit
insurance fund", was repealed by Pub. L. 109-171. See Effective
Date of 1996 Amendment note below.
Subsec. (b)(2)(A)(iv). Pub. L. 104-208, Sec. 2704(d)(14)(G)(ii),
(iv), which directed substitution of "the Deposit Insurance Fund"
for "each deposit insurance fund" and striking out cl. (iv), was
repealed by Pub. L. 109-171. See Effective Date of 1996 Amendment
note below.
Subsec. (b)(2)(A)(v). Pub. L. 104-208, Sec. 2708(c), added cl.
(v).
Subsec. (b)(2)(B). Pub. L. 104-208, Sec. 2704(d)(6)(B)(iii),
which directed the striking of subpar. (B) and the redesignation of
subpar. (C) as (B), was repealed by Pub. L. 109-171. See Effective
Date of 1996 Amendment note below.
Subsec. (b)(2)(C). Pub. L. 104-208, Sec. 2704(d)(6)(B)(iii),
(14)(G)(v), which directed the redesignation of subpar. (E) as (C)
and substitution of "the Deposit Insurance Fund" for "any deposit
insurance fund" and "the Deposit Insurance Fund" for "that fund"
wherever appearing, was repealed by Pub. L. 109-171. See Effective
Date of 1996 Amendment note below.
Subsec. (b)(2)(D). Pub. L. 104-208, Sec. 2704(d)(6)(B)(iii),
(14)(G)(vi), which directed the redesignation of subpar. (G) as (D)
and substitution of "fund achieves" for "funds achieve" in heading
and "the Deposit Insurance Fund" for "a deposit insurance fund" in
text, was repealed by Pub. L. 109-171. See Effective Date of 1996
Amendment note below.
Pub. L. 104-208, Sec. 2703(b), struck out heading and text of
subpar. (D). Text read as follows: "Notwithstanding any other
provision of this paragraph, amounts assessed by the Financing
Corporation under section 1441 of this title against Savings
Association Insurance Fund members shall be subtracted from the
amounts authorized to be assessed by the Corporation under this
paragraph."
Subsec. (b)(2)(E). Pub. L. 104-208, Sec. 2704(d)(6)(B)(iii),
which directed the redesignation of subpar. (H) as (E), was
repealed by Pub. L. 109-171. See Effective Date of 1996 Amendment
note below and 2006 Amendment note above.
Subsec. (b)(2)(E)(iii). Pub. L. 104-208, Sec. 2707, as amended by
Pub. L. 106-569, added cl. (iii).
Subsec. (b)(2)(F) to (H). Pub. L. 104-208, Sec.
2704(d)(6)(B)(iii), which directed the striking of subpar. (F) and
the redesignation of subpars. (G) and (H) as (D) and (E),
respectively, was repealed by Pub. L. 109-171. See Effective Date
of 1996 Amendment note below and 2006 Amendment note above.
Subsec. (b)(3). Pub. L. 104-208, Sec. 2704(d)(14)(G)(vii)(I),
which directed substitution of "fund" for "funds" in heading, was
repealed by Pub. L. 109-171. See Effective Date of 1996 Amendment
note below and 2006 Amendment note above.
Subsec. (b)(3)(A). Pub. L. 104-208, Sec. 2704(d)(14)(G)(vii)(II)-
(V), which directed substitution of "If" for "Except as provided
in paragraph (2)(F), if", "the Deposit Insurance Fund" for "any
deposit insurance fund", and "insured depository institutions" for
"members of that fund" in introductory provisions and directed
substitution of "the Deposit Insurance Fund" for "that fund" in cl.
(i), was repealed by Pub. L. 109-171. See Effective Date of 1996
Amendment note below and 2006 Amendment note above.
Subsec. (b)(3)(B). Pub. L. 104-208, Sec.
2704(d)(14)(G)(vii)(III), which directed substitution of "the
Deposit Insurance Fund" for "that fund", was repealed by Pub. L.
109-171. See Effective Date of 1996 Amendment note below and 2006
Amendment note above.
Subsec. (b)(3)(C), (D). Pub. L. 104-208, Sec.
2704(d)(14)(G)(vii)(VI), which directed the striking of subpars.
(C) and (D) and the addition of a new subpar. (C), was repealed by
Pub. L. 109-171. See Effective Date of 1996 Amendment note below
and 2006 Amendment note above.
Subsec. (b)(6). Pub. L. 104-208, Sec. 2704(d)(14)(G)(viii), which
directed the amendment of par. (6) by substituting "any such
assessment is necessary" for "any such assessment" in introductory
provisions, striking subpar. (A) designation, introductory
provisions, and subpar. (B), redesignating cls. (i) to (iii) of
subpar. (A) as subpars. (A) to (C), respectively, realigning
margins, and substituting period for "; and" at end of subpar. (C),
was repealed by Pub. L. 109-171. See Effective Date of 1996
Amendment note below and 2006 Amendment note above.
Subsec. (e). Pub. L. 104-208, Sec. 2706, inserted heading and
amended text of subsec. (e) generally. Prior to amendment, text
read as follows: "The Corporation (1) may refund to an insured
depository institution any payment of assessment in excess of the
amount due to the Corporation or (2) may credit such excess toward
the payment of the assessment next becoming due from such
depository institution and upon succeeding assessments until the
credit is exhausted."
Subsec. (j)(9)(A). Pub. L. 104-208, Sec. 2226(1), substituted
"foreign bank, or any affiliate thereof," for "financial
institution and any affiliate of any financial institution" and "by
the foreign bank or any affiliate thereof" for "by the financial
institution and such institution's affiliates".
Subsec. (j)(9)(B). Pub. L. 104-208, Sec. 2226(2)(A), substituted
"paragraph, the following definitions shall apply:" for "paragraph -
" in introductory provisions.
Subsec. (j)(9)(B)(i). Pub. L. 104-208, Sec. 2226(2)(B), added cl.
(i) and struck out heading and text of former cl. (i). Text read as
follows: "The term 'financial institution' means any insured
depository institution and any foreign bank that is subject to the
provisions of the Bank Holding Company Act of 1956 by virtue of
section 3106(a) of this title."
Subsec. (j)(9)(B)(iii). Pub. L. 104-208, Sec. 2226(2)(C),
substituted "foreign bank or any affiliate thereof" for "financial
institution" in introductory provisions.
Subsec. (j)(9)(C). Pub. L. 104-208, Sec. 2226(3), substituted
"foreign bank or any affiliate thereof" for "financial institution
or any of its affiliates" before "as principal" and for "financial
institution or its affiliates" before "has a security interest".
Subsec. (j)(9)(D)(i). Pub. L. 104-208, Sec. 2226(4)(A),
substituted "the foreign bank and all affiliates thereof" for "the
financial institution and all affiliates of the institution" and
"foreign bank or affiliate thereof" for "financial institution or
any such affiliate".
Subsec. (j)(9)(D)(ii), (iii). Pub. L. 104-208, Sec. 2226(4)(B),
(C), substituted "foreign bank and any affiliate thereof" for
"financial institution and any affiliate of such institution"
before period at end of cl. (ii) and "foreign bank or any affiliate
thereof" for "financial institution" before parenthetical at end of
cl. (iii).
Subsec. (j)(9)(E)(i). Pub. L. 104-208, Sec. 2226(5)(A),
substituted "subparagraph (A), a foreign bank or any affiliate
thereof" for "subparagraph (A), a financial institution and the
affiliates of such institution" and substituted "foreign bank or
any affiliate thereof" for "institution or affiliate" in two
places.
Subsec. (j)(9)(E)(ii). Pub. L. 104-208, Sec. 2226(5)(B),
substituted "foreign bank and any affiliate thereof" for "financial
institution and any affiliate of such institution".
Subsecs. (l) to (n). Pub. L. 104-208, Sec. 2704(d)(6)(B)(i),
(ii), which directed the striking of subsec. (l) and the
redesignation of subsecs. (m) and (n) as (l) and (m), respectively,
was repealed by Pub. L. 109-171. See Effective Date of 1996
Amendment note below and 2006 Amendment note above.
1994 - Subsec. (a)(1). Pub. L. 103-325, Sec. 308(b), struck out
after third sentence "The Board of Directors may require reports of
condition to be published in such manner, not inconsistent with any
applicable law, as it may direct."
Subsec. (a)(2)(A). Pub. L. 103-325, Sec. 305(b), inserted "and,
with respect to any State depository institution, any appropriate
State bank supervisor for such institution," after "The
Corporation" in first sentence.
Subsec. (a)(3). Pub. L. 103-325, Sec. 602(a)(4), struck out
"Chairman of the" before "Director of the Office of Thrift
Supervision".
Subsec. (a)(9). Pub. L. 103-325, Sec. 348, inserted at end "In
prescribing reporting and other requirements for the collection of
actual and accurate information pursuant to this paragraph, the
Corporation shall minimize the regulatory burden imposed upon
insured depository institutions that are well capitalized (as
defined in section 1831o of this title) while taking into account
the benefit of the information to the Corporation, including the
use of the information to enable the Corporation to more accurately
determine the total amount of insured deposits in each insured
depository institution for purposes of compliance with this
chapter."
Subsec. (b)(3)(C). Pub. L. 103-325, Sec. 602(a)(5), struck out
first period at end.
Subsec. (j)(2)(A). Pub. L. 103-325, Sec. 602(a)(6), in third
sentence substituted "this paragraph" for "this section (j)(2)" and
"this subsection (j)(2)", respectively.
Subsec. (j)(7)(A). Pub. L. 103-325, Sec. 602(a)(7), substituted
"monopolize" for "monoplize" after "conspiracy to".
Subsec. (l)(7). Pub. L. 103-325, Sec. 602(a)(8), substituted "the
ratio of" for "the ratio of the value of".
Subsec. (m)(5)(A). Pub. L. 103-325, Sec. 602(a)(9), substituted
"such institution" for "savings association institution".
Subsec. (m)(7). Pub. L. 103-325, Sec. 602(a)(10), inserted "the"
before "Federal".
1993 - Subsec. (b)(3)(C). Pub. L. 103-204, Sec. 8(h), substituted
"and such amendment may extend the date specified in subparagraph
(B) to such later date as the Corporation determines will, over
time, maximize the amount of semiannual assessments received by the
Savings Association Insurance Fund, net of insurance losses
incurred by the Fund." for ", but such amendments may not extend
the date specified in subparagraph (B)".
Subsec. (i)(3), (4). Pub. L. 103-204, Sec. 38(a), added par. (3)
and redesignated former par. (3) as (4).
1992 - Subsec. (a). Pub. L. 102-558, Sec. 303(b)(1), amended
directory language of Pub. L. 102-242, Sec. 232(b)(1). See 1991
Amendment note below. Pub. L. 102-550, Sec. 1604(b)(1), which
contained a similar amendment, was repealed, effective Oct. 28,
1992, by Pub. L. 102-558, Sec. 305, set out as a Repeal of
Duplicative Provisions note under section 1815 of this title.
Subsec. (a)(5). Pub. L. 102-558, Sec. 303(b)(6)(A), amended
directory language of Pub. L. 102-242, Sec. 302(e). See 1991
Amendment note below. Pub. L. 102-550, Sec. 1605(a)(5)(A), which
contained an identical amendment, was repealed, effective Oct. 28,
1992, by Pub. L. 102-558, Sec. 305, set out as a Repeal of
Duplicative Provisions note under section 1815 of this title.
Subsec. (a)(9), (10). Pub. L. 102-550, Sec. 1606(i)(1),
redesignated par. (9), relating to designation of debtor or
bankrupt corporation or transaction with such a corporation as
highly leveraged, as (10).
Subsec. (b)(1)(A)(iii). Pub. L. 102-550, Sec. 1603(a)(1),
substituted "assessment rate." for "assessment."
Subsec. (b)(2). Pub. L. 102-558, Sec. 303(a), struck out comma
after "members" in subpar. (D) and added subpar. (H). Pub. L. 102-
550, Sec. 1605(a)(2), which contained an identical amendment, was
repealed, effective Oct. 28, 1992, by Pub. L. 102-558, Sec. 305,
set out as a Repeal of Duplicative Provisions note under section
1815 of this title.
Subsec. (b)(2)(A)(iii)(I). Pub. L. 102-550, Sec. 931(b), amended
subcl. (I) generally. Prior to amendment, subcl. (I) read as
follows: " 1/2 the assessment rate applicable with respect to such
deposits pursuant to paragraph (10) during that semiannual
assessment period; and".
Subsec. (b)(6). Pub. L. 102-558, Sec. 303(b)(7), added par. (6).
Pub. L. 102-550, Sec. 1603(a)(3), which contained an identical
amendment, was repealed, effective Oct. 28, 1992, by Pub. L. 102-
558, Sec. 305, set out as a Repeal of Duplicative Provisions note
under section 1815 of this title.
Subsec. (b)(6)(D). Pub. L. 102-550, Sec. 1605(b)(1), added
subpar. (D) and struck out former subpar. (D) which read as
follows: "any liability of the insured depository institution which
is not treated as an insured deposit pursuant to section 1821(a)(8)
of this title."
Subsec. (b)(7). Pub. L. 102-558, Sec. 303(b)(8), added par. (7).
Pub. L. 102-550, Sec. 1605(a)(6), which contained an identical
amendment, was repealed, effective Oct. 28, 1992, by Pub. L. 102-
558, Sec. 305, set out as a Repeal of Duplicative Provisions note
under section 1815 of this title.
Subsec. (b)(10). Pub. L. 102-550, Sec. 931(a), substituted "at an
assessment rate to be determined by the Corporation by regulation.
Such assessment rate may not be less than 1/2 the maximum
assessment rate." for "at the assessment rate of 1/2 the maximum
rate."
Subsec. (c)(4). Pub. L. 102-550, Sec. 1605(b)(2), added par. (4)
and substituted "paragraph (1)" for "paragraph (1) or (2)" wherever
appearing.
Subsec. (d). Pub. L. 102-558, Sec. 303(b)(6)(A), amended
directory language of Pub. L. 102-242, Sec. 302(e). See 1991
Amendment note below. Pub. L. 102-550, Sec. 1605(a)(5)(A), which
contained an identical amendment, was repealed, effective Oct. 28,
1992, by Pub. L. 102-558, Sec. 305, set out as a Repeal of
Duplicative Provisions note under section 1815 of this title.
Subsec. (d)(5). Pub. L. 102-558, Sec. 303(b)(3), made technical
amendment to reference to section 1834b of this title, to correct
underlying provisions of original act. Pub. L. 102-550, Sec.
1604(b)(3), which contained an identical amendment, was repealed,
effective Oct. 28, 1992, by Pub. L. 102-558, Sec. 305, set out as a
Repeal of Duplicative Provisions note under section 1815 of this
title.
1991 - Subsec. (a). Pub. L. 102-242, Sec. 474, added par. (9)
relating to designation of debtor or bankrupt corporation or
transaction with such a corporation as highly leveraged.
Pub. L. 102-242, Sec. 232(b)(1), as amended by Pub. L. 102-558,
Sec. 303(b)(1), added par. (6) and redesignated former pars. (6) to
(8) as (7) to (9), respectively.
Pub. L. 102-242, Sec. 141(c), amended par. (8) generally,
substituting provisions relating to data collections for provisions
which required that the reports of conditions made by depository
institutions be provided to auditors which had made independent
audits of insured depository institutions within the past two years
and that such reports also include specified additional
information. Par. (8) subsequently redesignated (9), see above.
Subsec. (a)(5). Pub. L. 102-242, Sec. 302(e)(3), as renumbered by
Pub. L. 102-558, Sec. 303(b)(6)(A), struck out "and for the
computation of assessments provided in subsection (b) of this
section" after "For this purpose".
Subsec. (b). Pub. L. 102-242, Sec. 302(a), amended subsec. (b)
generally, revising and restating as pars. (1) to (5) provisions of
former pars. (1) to (11).
Subsec. (b)(1)(A)(iii). Pub. L. 102-242, Sec. 104(b), added cl.
(iii) and struck out former cl. (iii) which read as follows:
"Deadline for announcing rate changes. - The Corporation shall
announce any change in assessment rates. -
"(I) for the semiannual period beginning on January 1 and
ending on June 30, not later than the preceding November 1; and
"(II) for the semiannual period beginning on July 1 and ending
on December 31, not later than the preceding May 1."
Subsec. (b)(1)(C). Pub. L. 102-242, Sec. 104(a), amended subpar.
(C) generally. Prior to amendment, subpar. (C) read as follows:
"Assessment rate for bank insurance fund members. -
"(i) In general. - The assessment rate for Bank Insurance Fund
members shall be the greater of 0.15 percent or such rate as the
Board of Directors, in its sole discretion, determines to be
appropriate -
"(I) to maintain the reserve ratio at the designated reserve
ratio; or
"(II) if the reserve ratio is less than the designated reserve
ratio, to increase the reserve ratio to the designated reserve
ratio within a reasonable period of time.
"(ii) Factors to be considered. - In making any determination
under clause (i), the Board of Directors shall consider the Bank
Insurance Fund's expected operating expenses, case resolution
expenditures, and income, the effect of the assessment rate on
members' earnings and capital, and such other factors as the Board
of Directors may deem appropriate.
"(iii) Minimum assessment. - Notwithstanding clause (i), the
assessment shall not be less than $1,000 for each member in each
year."
Subsec. (b)(2)(A)(i)(II). Pub. L. 102-242, Sec. 232(b)(3)(A),
added subcl. (II) and struck out former subcl. (II) which read as
follows: "such Bank Insurance Fund member's average assessment base
for the immediately preceding semiannual period; and".
Subsec. (b)(2)(A)(ii)(II). Pub. L. 102-242, Sec. 232(b)(3)(B),
added subcl. (II) and struck out former subcl. (II) which read as
follows: "such Savings Association Insurance Fund member's average
assessment base for the immediately preceding semiannual period."
Subsec. (b)(2)(A)(iii). Pub. L. 102-242, Sec. 232(b)(3)(C), added
cl. (iii).
Subsec. (b)(6)(D). Pub. L. 102-242, Sec. 311(a)(2), added subpar.
(D).
Subsec. (b)(7) to (9). Pub. L. 102-242, Sec. 103(b), added par.
(7) and redesignated former pars. (7) and (8) as (8) and (9),
respectively. Former par. (9) redesignated (10).
Subsec. (b)(10). Pub. L. 102-242, Sec. 232(b)(2), added par. (10)
and redesignated former par. (10) as (11).
Pub. L. 102-242, Sec. 113(c)(1), inserted "or section 1820(e) of
this title" after "under this section".
Pub. L. 102-242, Sec. 103(b)(1), redesignated par. (9) as (10).
Subsec. (b)(11). Pub. L. 102-242, Sec. 232(b)(2), redesignated
par. (10) as (11).
Subsec. (c). Pub. L. 102-242, Sec. 302(b), amended subsec. (c)
generally, revising and restating as pars. (1) to (3) provisions of
former pars. (1) to (5).
Subsec. (c)(5). Pub. L. 102-242, Sec. 313(a), added par. (5).
Subsec. (d). Pub. L. 102-242, Sec. 302(e)(4), as renumbered by
Pub. L. 102-558, Sec. 303(b)(6)(A), amended subsec. (d) generally,
substituting provisions exempting Corporation from apportionment
for purposes of chapter 15 of title 31 for provisions relating to
assessment credits.
Subsec. (d)(1)(A). Pub. L. 102-242, Sec. 233(c)(2)(A), inserted
"(other than credits allowed pursuant to paragraph (4))" after
"amount to be credited".
Subsec. (d)(1)(B). Pub. L. 102-242, Sec. 233(c)(2)(B), inserted
"(taking into account any assessment credit allowed pursuant to
paragraph (4))" after "should be reduced".
Subsec. (d)(4) to (7). Pub. L. 102-242, Sec. 233(c)(1), added
pars. (4) and (5) and redesignated former pars. (4) and (5) as (6)
and (7), respectively.
Subsec. (i). Pub. L. 102-242, Sec. 311(b)(3), amended subsec. (i)
generally. Prior to amendment, subsec. (i) read as follows: "Except
with respect to trust funds which are owned by a depositor referred
to in paragraph (2) of section 1821(a) of this title, trust funds
held by an insured depository institution in a fiduciary capacity
whether held in its trust department or held or deposited in any
other department of the fiduciary depository institution shall be
insured in an amount not to exceed $100,000 for each trust estate,
and when deposited by the fiduciary depository institution in
another insured depository institution such trust fund shall be
similarly insured to the fiduciary depository institution according
to the trust estates represented. Notwithstanding any other
provision of this chapter, such insurance shall be separate from
and additional to that covering other deposits of the owners of
such trust funds or the beneficiaries of such trust estates. The
Board of Directors shall have power by regulation to prescribe the
manner of reporting and of depositing such trust funds."
Subsec. (j)(9). Pub. L. 102-242, Sec. 205, amended par. (9)
generally. Prior to amendment, par. (9) read as follows: "Whenever
any insured depository institution makes a loan or loans, secured,
or to be secured, by 25 per centum or more of the outstanding
voting stock of an insured depository institution, the president or
other chief executive officer of the lending bank shall promptly
report such fact to the appropriate Federal banking agency of the
bank whose stock secures the loan or loans upon obtaining knowledge
of such loan or loans, except that no report need be made in those
cases where the borrower has been the owner of record of the stock
for a period of one year or more or where the stock is that of the
newly organized bank prior to its opening."
1990 - Subsec. (b)(1)(A). Pub. L. 101-508, Sec. 2003(a), amended
subpar. (A) generally. Prior to amendment, subpar. (A) read as
follows:
"(A) Annual assessment rates prescribed. -
"(i) The Corporation shall set assessment rates for insured
depository institutions annually.
"(ii) The Corporation shall fix the annual assessment rate of
Bank Insurance Fund members independently from the annual
assessment rate for Savings Association Insurance Fund members.
"(iii) The Corporation shall, by September 30 of each year,
announce the assessment rates for the succeeding calendar year."
Subsec. (b)(1)(B)(i)(II), (ii)(II). Pub. L. 101-508, Sec.
2004(1), struck out ", not exceeding 1.50 percent," after "insured
deposits".
Subsec. (b)(1)(B)(iii). Pub. L. 101-508, Sec. 2004(2), inserted
"and" after "Fund;" in subcl. (I), redesignated subcl. (IV) as (II)
and struck out former subcls. (II) and (III) which read as follows:
"(II) allocate each calendar quarter to an Earnings Participation
Account in the Bank Insurance Fund the investment income earned by
the Bank Insurance Fund on such Supplemental Reserves in the
preceding calendar quarter;
"(III) distribute such Earnings Participation Account at the
conclusion of each calendar year to Bank Insurance Fund members;
and".
Subsec. (b)(1)(B)(iv). Pub. L. 101-508, Sec. 2004(3), inserted
"and" after "Fund;" in subcl. (I), redesignated subcl. (IV) as
(II), and struck out former subcls. (II) and (III) which read as
follows:
"(II) allocate each calendar quarter to an Earnings Participation
Account in the Savings Association Insurance Fund the investment
income earned by the Savings Association Insurance Fund on such
Supplemental Reserves in the preceding calendar quarter;
"(III) distribute such Earnings Participation Account at the
conclusion of each calendar year to Savings Association Insurance
Fund members; and".
Subsec. (b)(1)(C). Pub. L. 101-508, Sec. 2002(a), amended subpar.
(C) generally. Prior to amendment, subpar. (C) read as follows:
"Assessment rate for bank insurance fund members. - The annual
assessment rate for Bank Insurance Fund members shall be -
"(i) until December 31, 1989, 1/12 of 1 percent;
"(ii) from January 1, 1990, through December 31, 1990, 0.12
percent;
"(iii) on and after January 1, 1991, 0.15 percent;
"(iv) on January 1 of a calendar year in which the reserve
ratio of the Bank Insurance Fund is expected to be less than the
designated reserve ratio by determination of the Board of
Directors, such rate determined by the Board of Directors to be
appropriate to restore the reserve ratio to the designated
reserve ratio within a reasonable period of time, after taking
into consideration the expected operating expenses, case
resolution expenditures, and investment income of the Bank
Insurance Fund, and the impact on insured bank earnings and
capitalization, except that -
"(I) from August 9, 1989, until the earlier of January 1,
1995, or January 1 of the calendar year in which the Bank
Insurance Fund reserve ratio is expected to first attain the
designated reserve ratio, the rate shall be as specified in
clauses (i), (ii), and (iii) of this subparagraph so long as
the Bank Insurance Fund reserve ratio is increasing on a
calendar year basis;
"(II) the rate shall not exceed 0.325 percent; and
"(III) the increase in the rate in any 1 year shall not
exceed 0.075 percent; and
"(v) sufficient to ensure that for each member in each year the
assessment shall not be less than $1,000."
Subsec. (b)(1)(D). Pub. L. 101-508, Sec. 2002(b), amended subpar.
(D) generally. Prior to amendment, subpar. (D) read as follows:
"Assessment rate for savings association insurance fund members. -
The annual assessment rate for Savings Association Insurance Fund
members shall be -
"(i) until December 31, 1990, 0.208 percent;
"(ii) from January 1, 1991, through December 31, 1993, 0.23
percent;
"(iii) from January 1, 1994, through December 31, 1997, 0.18
percent;
"(iv) on and after January 1, 1998, 0.15 percent;
"(v) on January 1 of a calendar year in which the reserve ratio
of the Savings Association Insurance Fund is expected to be less
than the designated reserve ratio by determination of the Board
of Directors, such rate determined by the Board of Directors to
be appropriate to restore the reserve ratio to the designated
reserve ratio within a reasonable period of time, after taking
into consideration the expected expenses and income of the
Savings Association Insurance Fund, and the effect on insured
savings association earnings and capitalization, except that -
"(I) from August 9, 1989, through December 31, 1994, the rate
shall be as specified in clauses (i), (ii), and (iii) above;
"(II) the rate shall not exceed 0.325 percent; and
"(III) the increase in the rate in any one year shall not
exceed 0.075 percent; and
"(vi) sufficient to ensure that for each member in each year
the assessment shall not be less than $1,000."
Subsec. (b)(2)(A). Pub. L. 101-508, Sec. 2002(c)(1), inserted "or
subparagraph (C)(iii) or (D)(iii) of subsection (b)(1) of this
section" after "subsection (c)(2) of this section" in introductory
provisions.
Subsec. (b)(2)(A)(i). Pub. L. 101-508, Sec. 2002(c)(2), inserted
"the greater of $500 or an amount" before "equal to the product of"
in introductory provisions.
Subsec. (b)(2)(A)(i)(I). Pub. L. 101-508, Sec. 2003(b)(1), (2),
struck out "annual" before "assessment" and inserted "during that
semiannual period" after "member".
Subsec. (b)(2)(A)(ii). Pub. L. 101-508, Sec. 2002(c)(2), inserted
"the greater of $500 or an amount" before "equal to the product of"
in introductory provisions.
Subsec. (b)(2)(A)(ii)(I). Pub. L. 101-508, Sec. 2003(b)(1), (3),
struck out "annual" before "assessment" and inserted "during that
semiannual period" after "member".
Subsec. (d)(1)(A). Pub. L. 101-508, Sec. 2003(c), amended subpar.
(A) generally. Prior to amendment, subpar. (A) read as follows: "By
September 30 of each calendar year, the Corporation shall prescribe
and publish the aggregate amount to be credited to insured
depository institutions in the succeeding calendar year."
1989 - Pub. L. 101-73, Sec. 201, substituted references to
insured depository institutions for references to insured banks
wherever appearing in this section and references to Director of
the Office of Thrift Supervision for references to Federal Home
Loan Bank Board wherever appearing in this section.
Subsec. (a)(1). Pub. L. 101-73, Sec. 911(c), substituted
provisions for different and increasing levels of penalties, and
provisions regarding assessment and collection of penalties and
agency hearings, for provision at end that every such bank which
failed to make or publish any such report within 10 days would be
subject to a penalty of not more than $100 for each day of such
failure recoverable by the Corporation for its use.
Subsec. (a)(2)(A). Pub. L. 101-73, Sec. 208(1)(A)-(C), (E),
inserted references to Director of Office of Thrift Supervision,
Federal Housing Finance Board, and any Federal home loan bank in
two places, substituted "any of them" for "either of them", and
substituted "depository institution, and may furnish" for "State
nonmember bank (except a District bank), and may furnish".
Pub. L. 101-73, Sec. 208(1)(D), which directed the amendment of
last sentence of subpar. (A) by inserting "or savings associations"
after "banks" could not be executed, because "banks" does not
appear in text.
Subsec. (a)(2)(B). Pub. L. 101-73, Sec. 208(1)(F), added subpar.
(B) and struck out former subpar. (B) which read as follows: "The
Corporation shall have access to reports of examination made by,
and reports of condition made to, the Federal Home Loan Bank Board
or any Federal Home Loan Bank, respecting any insured Federal
savings bank, and the Corporation shall have access to all
revisions of reports of condition made to either such agency. Such
agency shall promptly advise the Corporation of any revisions or
changes in respect to deposit liabilities made or required to be
made in any report of condition."
Subsec. (a)(3). Pub. L. 101-73, Sec. 208(2)(A), substituted "Each
insured depository institution shall make to the appropriate
Federal banking agency 4 reports" for "Each insured State nonmember
bank (except a District bank) and each foreign bank having an
insured branch (other than a Federal branch) shall make to the
Corporation, each insured national bank, each foreign bank having
an insured branch which is a Federal branch, and each insured
District bank shall make to the Comptroller of the Currency, each
insured State member bank shall make to the Federal Reserve bank of
which it is a member, and each insured Federal savings bank shall
make to the Federal Home Loan Bank Board, four reports".
Pub. L. 101-73, Sec. 208(2)(B)-(D), substituted "depository
institution, the preceding" for "bank, the preceding", "depository
institution to make such" for "bank to make such", "depository
institution other than the officer" for "bank other than the
officer", "insured depository institution shall furnish to the
Corporation" for "insured national, District and State member bank
shall furnish to the Corporation", and "banks or savings
associations under its jurisdiction" for "banks under its
jurisdiction".
Subsec. (a)(4). Pub. L. 101-73, Sec. 208(3), which directed the
substitution of references to depository institutions for
references to banks, except where "foreign bank" appeared, was
executed as directed, except that the exception was made for
"foreign banks" rather than "foreign bank", as the probable intent
of Congress.
Subsec. (a)(8). Pub. L. 101-73, Sec. 931(a), added par. (8).
Subsec. (b)(1). Pub. L. 101-73, Sec. 208(4), added par. (1) and
struck out former par. (1) which read as follows: "The annual
assessment rate shall be one-twelfth of 1 per centum. Except as
provided in subsection (c)(2) of this section, the semiannual
assessment due from any insured bank for any semiannual period
shall be equal to one-half the annual assessment rate multiplied by
such bank's average assessment base for the immediately preceding
semiannual period."
Subsec. (b)(2). Pub. L. 101-73, Sec. 208(4), added par. (2) and
struck out former par. (2) which read as follows: "For the purposes
of this section the term 'semiannual period' means a period
beginning on January 1 of any calendar year and ending on June 30
of the same year, or a period beginning on July 1 of any calendar
year and ending on December 31 of the same year."
Subsec. (b)(3) to (8). Pub. L. 101-73, Sec. 208(6), substituted
references to depository institutions for references to banks
wherever appearing.
Subsec. (c)(1) to (3). Pub. L. 101-73, Sec. 208(7), substituted
"depository institution" for "bank" wherever appearing.
Subsec. (d). Pub. L. 101-73, Sec. 208(5), amended subpar. (d)
generally, substituting provisions relating to computation,
applicability, definitions, etc., respecting assessment credits,
for provisions relating to transfer of net assessment income of
Corporation to capital account, pro rata credit to insured banks,
and adjustment of transferred income.
Subsecs. (e) to (g), (i). Pub. L. 101-73, Sec. 208(7),
substituted "depository institution" for "bank" wherever appearing.
Subsec. (j)(1). Pub. L. 101-73, Sec. 208(8), struck out at end
"For purposes of this subsection, the term 'insured bank' shall
include any 'bank holding company', as that term is defined in
section 1841 of this title, which has control of any such insured
bank, and the appropriate Federal banking agency in the case of
bank holding companies shall be the Board of Governors of the
Federal Reserve System."
Subsec. (j)(2)(A). Pub. L. 101-73, Sec. 208(9), substituted
"depository institution" for "bank" wherever appearing, and
substituted "default" for "failure".
Subsec. (j)(2)(D). Pub. L. 101-73, Sec. 208(10), inserted "unless
such agency determines that an emergency exists," after "banking
agency shall,".
Subsec. (j)(7)(F). Pub. L. 101-73, Sec. 208(11), added subpar.
(F).
Subsec. (j)(15). Pub. L. 101-73, Sec. 905(c), inserted at end
"The resignation, termination of employment or participation,
divestiture of control, or separation of or by an institution-
affiliated party (including a separation caused by the closing of
a depository institution) shall not affect the jurisdiction and
authority of the appropriate Federal banking agency to issue any
notice and proceed under this subsection against any such party, if
such notice is served before the end of the 6-year period beginning
on the date such party ceased to be such a party with respect to
such depository institution (whether such date occurs before, on,
or after the date of the enactment of this sentence)."
Subsec. (j)(16). Pub. L. 101-73, Sec. 907(d), amended par. (16)
generally. Prior to amendment, par. (16) read as follows: "Any
person who willfully violates any provision of this subsection, or
any regulation or order issued by the appropriate Federal banking
agency pursuant thereto, shall forfeit and pay a civil penalty of
not more than $10,000 per day for each day during which such
violation continues. The appropriate Federal banking agency shall
have authority to assess such a civil penalty, after giving notice
and an opportunity to the person to submit data, views, and
arguments, and after giving due consideration to the
appropriateness of the penalty with respect to the size of
financial resources and good faith of the person charged, the
gravity of the violation, and any data, views, and arguments
submitted. The agency may collect such civil penalty by agreement
with the person or by bringing an action in the appropriate United
States district court, except that in any such action, the person
against whom the penalty has been assessed shall have a right to
trial de novo."
Subsec. (j)(17). Pub. L. 101-73, Sec. 208(12), amended par. (17)
generally. Prior to amendment, par. (17) read as follows: "This
subsection shall not apply to a transaction subject to section 1842
or section 1828 of this title. This subsection shall not apply to
an insured Federal savings bank."
Subsec. (j)(18). Pub. L. 101-73, Sec. 208(13), added par. (18).
Subsec. (l). Pub. L. 101-73, Sec. 208(14), added subsec. (l).
Subsecs. (m), (n). Pub. L. 101-73, Sec. 208(15), added subsecs.
(m) and (n).
1987 - Subsec. (b)(9). Pub. L. 100-86 added par. (9).
1986 - Subsec. (j)(1). Pub. L. 99-570, Sec. 1360(a), substituted
"or, in the discretion of the agency, extending for an additional
30 days" for "or extending for up to another thirty days" in first
sentence, notwithstanding directory language that new wording be
substituted for "or extending up to another thirty days", and
amended second sentence generally. Prior to amendment, second
sentence read as follows: "The period for disapproval may be
further extended only if the agency determines that any acquiring
party has not furnished all the information required under
paragraph (6) of this subsection or that in its judgment any
material information submitted is substantially inaccurate".
Subsec. (j)(2). Pub. L. 99-570, Sec. 1360(b), (c), designated
existing provisions as subpar. (A) and added subpars. (B) to (D).
Subsec. (j)(15) to (16). Pub. L. 99-570, Sec. 1360(d), added par.
(15) and redesignated former pars. (15) and (16) as (16) and (17),
respectively.
1982 - Subsec. (a)(2). Pub. L. 97-320, Sec. 113(d), designated
existing provisions as subpar. (A) and added subpar. (B).
Subsec. (a)(3). Pub. L. 97-320, Sec. 113(e), inserted the
reporting requirement for each insured Federal savings bank, added
the Chairman of the Federal Home Loan Bank Board to the group
designated to decide upon which dates the reports will be made, and
struck out alternative provision that such decision would be made
by a majority of such group.
Subsec. (a)(6). Pub. L. 97-320, Sec. 113(f), inserted ", the
Federal Home Loan Bank Board," after "Comptroller of the Currency".
Subsec. (d)(1)(4). Pub. L. 97-320, Sec. 117, added cl. (4).
Subsec. (j)(16). Pub. L. 97-320, Sec. 113(q), inserted provision
that this subsection shall not apply to an insured Federal savings
bank.
Subsec. (k). Pub. L. 97-320, Sec. 429, substituted requirement
that Federal banking agencies issue rules and regulations for
reports and public disclosure by banks of extensions of credits to
its executive officers or principal shareholders or the relative
interests of such persons for prior provisions: covering annual
reports of insured banks to Federal banking agencies containing
information respecting preceding calendar year listing names of
stockholders of record owning, controlling, or having more than a
10 per centum voting control of any class of voting securities of
the bank and also listing names of executive officers and
controlling stockholders and aggregate amount of extensions of
credit to such persons, any company controlled by such persons, and
any political or campaign committee the funds or services of which
will benefit such persons, or which is controlled by such persons;
defining an executive officer as one meant under section 375a of
this title; authorizing Federal banking agencies to issue rules and
regulations to require filed information to be included in any
required reports to be made available to the public upon request;
and requiring copies of any reports to be made publicly available
upon request.
1981 - Subsec. (a)(4). Pub. L. 97-110, Sec. 103(b)(1), inserted
"the Trust Territory of the Pacific Islands," after "American
Samoa,".
Subsec. (b)(5)(B). Pub. L. 97-110, Sec. 103(b)(2), inserted "the
Trust Territory of the Pacific Islands," after "American Samoa,".
1980 - Subsec. (d). Pub. L. 96-221, Sec. 308(d), designated
existing provisions as par. (1), substituted "1980" for "1961" and
"40" for "33 1/3 ", and added par. (2).
Subsec. (i). Pub. L. 96-221, Sec. 308(a)(1)(B), substituted
"$100,000" for "$40,000".
1978 - Subsec. (a)(1). Pub. L. 95-369, Sec. 6(c)(8), inserted
"and each foreign bank having an insured branch which is not a
Federal branch" after "(except a District bank)".
Subsec. (a)(3). Pub. L. 95-630, Sec. 302, substituted "the
signatures of at least two directors or trustees of the reporting
bank other than the officer making such declaration" for "the
signatures of at least three of the directors or trustees of the
reporting bank other than the officer making such declaration, or
by at least two if there are not more than three directors or
trustees".
Pub. L. 95-369, Sec. 6(c)(9), inserted "and each foreign bank
having an insured branch (other than a Federal branch)" after
"(except a District Bank)" and "each foreign bank having an insured
branch which is a Federal branch" after "each insured national
bank".
Subsec. (a)(4). Pub. L. 95-630, Sec. 310(a), inserted provision
that deposits which are accumulated for payment of personal loans
and are assigned or pledged to assure payment of loans at maturity
not be included in total deposits in such reports, but shall be
deducted from loans for which such deposits are assigned or pledged
to assure repayment.
Subsec. (a)(5). Pub. L. 95-630, Sec. 310(b), struck out "deposits
accumulated for the payment of personal loans," after "deposit-open
account,".
Subsec. (a)(7). Pub. L. 95-369, Sec. 6(c)(10), added par. (7).
Subsec. (b)(4). Pub. L. 95-369, Sec. 6(c)(11), designated
existing provisions as subpar. (A), substituted "Except as provided
in subparagraph (B) of this paragraph, a bank's assessment base"
for "A bank's assessment base", and added subpar. (B).
Subsec. (b)(6). Pub. L. 95-630, Sec. 310(c), redesignated
subpars. (C) and (D) as (B) and (C) and struck out former subpar.
(B) which related to deposits included in reported deposit
liabilities which are accumulated for the payment of personal loans
and are assigned or pledged to assure repayment of the loans at
maturity.
Subsec. (j). Pub. L. 95-630, Sec. 602, amended subsec. (j)
generally, substituting provisions relating to the requirement that
no person shall acquire control of any insured bank unless the
appropriate Federal agency is notified 60 days prior to such
transfer and authorizing the appropriate Federal agency to approve
or disapprove such transfer for provisions relating to the
requirement that notification of a transfer of control of an
insured bank be given to the appropriate Federal agency after such
transfer.
Subsec. (j)(1). Pub. L. 95-369, Sec. 6(c)(12), designated
existing provisions as subpar. (A), substituted "Except as provided
in subparagraph (B) of this paragraph, whenever" for "Whenever",
and added subpar. (B).
Subsec. (j)(2). Pub. L. 95-369, Sec. 6(c)(13), designated
existing provisions as subpar. (A), substituted "Except as provided
in subparagraph (B) of this paragraph, whenever" for "Whenever",
and added subpars. (B) and (C).
Subsec. (k). Pub. L. 95-630, Sec. 901, added subsec. (k).
1974 - Subsec. (i). Pub. L. 93-495 inserted exception relating to
trust funds owned by a depositor referred to par. (2) of section
1821(a) of this title, and substituted "$40,000" for "$20,000".
1970 - Pub. L. 91-609 inserted reference to American Samoa in
subsecs. (a)(4) and (b)(5)(B), respectively.
1969 - Subsec. (i). Pub. L. 91-151 substituted $20,000 for
$15,000 in first sentence.
1966 - Subsec. (i). Pub. L. 89-695, Sec. 301(b), substituted
"$15,000" for "$10,000" in first sentence.
Subsec. (j)(6). Pub. L. 89-695, Sec. 201, repealed par. (6)
definition of "appropriate Federal banking agency", now
incorporated in section 1813(q) of this title.
1964 - Subsec. (j). Pub. L. 88-593 added subsec. (j).
1960 - Subsec. (a). Pub. L. 86-671, Sec. 2, amended subsec. (a)
generally, and among other changes, provided for reports of
condition, the form, contents, date of making, number, and
publication of the reports of condition, declaration and
attestation of officers, penalties, access to reports, computation
of deposit liabilities, segregation and classification of deposits
and definitions. Former provisions of the subsection relating to
rate and amount of assessment, assessment base and deductions
therefrom, form and contents of certified statements, and payment
of assessments, are either covered or superseded by provisions
incorporated in subsecs. (b)(1), (3), (4), (6) including the last
paragraph, and (c)(3) of this section.
Subsec. (b). Pub. L. 86-671, Sec. 2, amended subsec. (b)
generally, and among other changes, provided for the computation of
assessments, the rate and amount, the base, additions and
deductions, records and definition. Former provisions of the
subsection relating to filing of certified statements of assessment
base and amounts due and payment thereof are incorporated in
subsec. (c)(1) of this section.
Subsec. (c). Pub. L. 86-671, Sec. 2, inserted provisions of pars.
(1) and (3), incorporated in par. (2) the provisions of former
subsec. (c) relating to exemption from payment of assessment for
semiannual period in which bank became an insured bank and amount
of first semiannual assessment due, omitted therefrom the provision
for inclusion in the assessment base of the assumed liabilities for
deposits of other banks, and required the filing of certified
statement of the assessment base or the making of a special report
of condition.
Subsec. (d). Pub. L. 86-671, Sec. 3, substituted "December 31,
1961" and "33 1/3 " for "December 31, 1960" and "40", respectively.
Subsec. (f). Pub. L. 86-671, Sec. 3, substituted "fails to make
any report of condition under subsection (a) of this section or to
file" for "fails to file" and inserted "make such report or" before
"file such statement".
Subsec. (g). Pub. L. 86-671, Sec. 3, substituted "made any such
report of condition under subsection (a) of this section or filed"
for "filed" and "to make any such report or file" for "to file" in
first sentence.
Subsec. (h). Pub. L. 86-671, Sec. 3, inserted "to make any report
of condition under subsection (a) of this section or" before "to
file".
Subsec. (i). Pub. L. 86-671, Sec. 3, substituted "in its trust
department or held or deposited in any other department of the
fiduciary bank" for "in its trust or deposited in any other
department or in another bank" in first sentence and deleted
proviso respecting deposit liability of insured bank in which trust
funds are deposited rather than deposit liability of depositing
fiduciary bank from second sentence.
EFFECTIVE DATE OF 2006 AMENDMENT
Amendment by section 2(b) of Pub. L. 109-173 effective Apr. 1,
2006, see section 2(e) of Pub. L. 109-173, set out as a note under
section 1785 of this title.
Pub. L. 109-173, Sec. 3(b), Feb. 15, 2006, 119 Stat. 3606,
provided that: "This section [amending this section and sections
1818, 1823, and 1834 of this title] and the amendments made by this
section shall take effect on the date that the final regulations
required under section 2109(a)(5) of the Federal Deposit Insurance
Reform Act of 2005 [Pub. L. 109-171, set out as a Regulations note
below] take effect [Jan. 1, 2007, see 71 F.R. 69282]."
Amendment by section 8(a)(8), (9) of Pub. L. 109-173 effective
Mar. 31, 2006, see section 8(b) of Pub. L. 109-173, set out as a
note under section 1813 of this title.
Amendment by section 2102(b) of Pub. L. 109-171 effective no
later than the first day of the first calendar quarter that begins
after the end of the 90-day period beginning Feb. 8, 2006, see
section 2102(c) of Pub. L. 109-171, set out as a Merger of BIF and
SAIF note under section 1821 of this title.
Pub. L. 109-171, title II, Sec. 2104(e), Feb. 8, 2006, 120 Stat.
14, provided that: "This section [amending this section and section
1828 of this title] and the amendments made by this section shall
take effect on the date that the final regulations required under
section 9(a)(5) [probably means section 2109(a)(5) of Pub. L. 109-
171, set out as a Regulations note below] take effect [Jan. 1,
2007, see 71 F.R. 69323]."
Pub. L. 109-171, title II, Sec. 2105(b), Feb. 8, 2006, 120 Stat.
15, provided that: "This section [amending this section] and the
amendments made by this section shall take effect on the date that
the final regulations required under section 9(a)(1) [probably
means section 2109(a)(1) of Pub. L. 109-171, set out as a
Regulations note below] take effect [Jan. 1, 2007, see 71 F.R.
69323]."
EFFECTIVE DATE OF 2004 AMENDMENT
Amendment by Pub. L. 108-386 effective Oct. 30, 2004, and, except
as otherwise provided, applicable with respect to fiscal year 2005
and each succeeding fiscal year, see sections 8(i) and 9 of Pub. L.
108-386, set out as notes under section 321 of this title.
EFFECTIVE DATE OF 2000 AMENDMENT
Pub. L. 106-569, title XII, Sec. 1231(b), Dec. 27, 2000, 114
Stat. 3037, provided that: "The amendments made by subsection (a)
[amending this section] shall be deemed to have the same effective
date as section 2707 of the Deposit Insurance Funds Act of 1996
(Public Law 104-208; 110 Stat. 3009-496)."
EFFECTIVE DATE OF 1996 AMENDMENT
Amendment by section 2703(b) of Pub. L. 104-208 applicable with
respect to semiannual periods which begin after Dec. 31, 1996, see
section 2703(c)(1) of Pub. L. 104-208, set out as an Effective and
Termination Dates of 1996 Amendment note under section 1441 of this
title.
Amendment by section 2704(d)(6)(B), (14)(G) of Pub. L. 104-208
effective Jan. 1, 1999, if no insured depository institution is a
savings association on that date, see section 2704(c) of Pub. L.
104-208, formerly set out as a note under section 1821 of this
title.
EFFECTIVE DATE OF 1993 AMENDMENT
Section 8(h) of Pub. L. 103-204 provided that the amendment made
by that section is effective on the effective date of the amendment
made by section 302(a) of Pub. L. 102-242. See Effective Date of
1991 Amendment note below.
Section 38(a) of Pub. L. 103-204 provided that the amendment made
by that section is effective Dec. 19, 1993.
EFFECTIVE DATE OF 1992 AMENDMENTS
Section 303(b)(7) of Pub. L. 102-558 provided that the amendment
made by that section is effective on the effective date of the
amendment made by section 302(a) of Pub. L. 102-242. See Effective
Date of 1991 Amendment note below.
Section 303(b)(8) of Pub. L. 102-558 provided that the amendment
made by that section is effective on the effective date of the
amendment made by section 302(e)(4) of Pub. L. 102-242. See
Effective Date of 1991 Amendment note below.
Amendment by section 303(a), (b)(1), (3), (6)(A) of Pub. L. 102-
558 deemed to have become effective Mar. 1, 1992, see section 304
of Pub. L. 102-558, set out as a note under section 2062 of Title
50, Appendix, War and National Defense.
Sections 1603(a)(3) and 1605(a)(6) of Pub. L. 102-550, which
provided effective date provisions for the amendments made by those
sections, were repealed, effective Oct. 28, 1992, by section 305 of
Pub. L. 102-558, set out as a Repeal of Duplicative Provisions note
under section 1815 of this title.
Section 1605(b)(2) of Pub. L. 102-550 provided that the amendment
made by that section is effective on the effective date of the
amendment made by section 302(b) of Pub. L. 102-242. See Effective
Date of 1991 Amendment note below.
Amendment by sections 1603(a)(1), 1604(b)(1), (3), 1605(a)(2),
(5)(A), (b)(1), 1606(i)(1) of Pub. L. 102-550 effective as if
included in the Federal Deposit Insurance Corporation Improvement
Act of 1991, Pub. L. 102-242, as of Dec. 19, 1991, except that
where amendment is to any provision of law added or amended by Pub.
L. 102-242 effective after Dec. 19, 1992, then amendment by Pub. L.
102-550 effective on effective date of amendment by Pub. L. 102-
242, see section 1609 of Pub. L. 102-550, set out as a note under
section 191 of this title.
EFFECTIVE DATE OF 1991 AMENDMENT
Section 302(g) of Pub. L. 102-242 provided that: "The amendments
made by this section [amending this section and sections 1815,
1818, and 1820 of this title] shall become effective on the earlier
of -
"(1) 180 days after the date on which final regulations
promulgated in accordance with subsection (c) [set out below]
become effective [Final regulations became effective Oct. 1,
1993. See 58 F.R. 34357.]; or
"(2) January 1, 1994."
Amendment by section 311(a)(2), (b)(3) of Pub. L. 102-242
effective at end of 2-year period beginning Dec. 19, 1991, but not
applicable to any time deposit which was made before Dec. 19, 1991,
and matures after end of 2-year period beginning on Dec. 19, 1991,
with rollovers and renewals treated as new deposits, see section
311(c)(1), (2) of Pub. L. 102-242, set out as a note under section
1821 of this title.
EFFECTIVE DATE OF 1989 AMENDMENT
Amendment by section 907(d) of Pub. L. 101-73 applicable to
conduct engaged in after Aug. 9, 1989, except that increased
maximum penalties of $5,000 and $25,000 may apply to conduct
engaged in before such date if such conduct is not already subject
to a notice issued by the appropriate agency and occurred after
completion of the last report of the examination of the institution
by the appropriate agency occurring before Aug. 9, 1989, see
section 907(l) of Pub. L. 101-73, set out as a note under section
93 of this title.
Amendment by section 911(c) of Pub. L. 101-73 applicable with
respect to reports filed or required to be filed after Aug. 9,
1989, see section 911(i) of Pub. L. 101-73, set out as a note under
section 161 of this title.
EFFECTIVE DATE OF 1986 AMENDMENT
Section 1364(f) of Pub. L. 99-570 provided that: "The amendments
made by sections 1360 and 1361 [amending this section and section
1730 of this title] shall apply with respect to notices of proposed
acquisitions filed after the date of the enactment of this Act
[Oct. 27, 1986]."
EFFECTIVE DATE OF 1982 AMENDMENT
Section 430 of Pub. L. 97-320 provided that: "The provision of
law amended by section 428(b) [amending section 1972 of this title]
and section 429 [amending this section] shall remain in effect
until the regulations referred to in such amendments become
effective."
EFFECTIVE DATE OF 1980 AMENDMENT
Section 308(e) of Pub. L. 96-221 provided that: "The amendments
made by this section [amending this section and sections 1724,
1728, 1787, 1813, and 1821 of this title] shall take effect on the
date of enactment of this Act [Mar. 31, 1980]."
Amendment by section 308(a)(1)(B) of Pub. L. 96-221 not
applicable to any claim arising out of the closing of a bank prior
to the effective date of section 308 of Pub. L. 96-221, Mar. 31,
1980, see section 308(a)(2) of Pub. L. 96-221, set out as a note
under section 1813 of this title.
EFFECTIVE DATE OF 1978 AMENDMENT
Amendment by Pub. L. 95-630 effective upon expiration of 120 days
after Nov. 10, 1978, see section 2101 of Pub. L. 95-630, set out as
an Effective Date note under section 375b of this title.
EFFECTIVE DATE OF 1974 AMENDMENT
For effective date of amendment by section 101(a)(2) of Pub. L.
93-495, see section 101(g) of Pub. L. 93-495, set out as a note
under section 1813 of this title.
For effective date of amendment by section 102(a)(2) of Pub. L.
93-495, see section 102(b), (c) of Pub. L. 93-495, set out as a
note under section 1813 of this title.
EFFECTIVE DATE OF 1969 AMENDMENT
For effective date of amendment by Pub. L. 91-151, see section
7(b) of Pub. L. 91-151, set out as a note under section 1813 of
this title.
EFFECTIVE DATE OF 1966 AMENDMENT
For effective date of amendment by section 301(b) of Pub. L. 89-
695, see section 301(e) of Pub. L. 89-695, set out as a note under
section 1813 of this title.
EXPIRATION OF 1966 AMENDMENT
Pub. L. 91-609, title IX, Sec. 908, Dec. 31, 1970, 84 Stat. 1811,
repealed section 401 of Pub. L. 89-695 which had provided that:
"The provisions of titles I and II of this Act [amending this
section and sections 1464, 1730, 1813, 1818 to 1820 of this title,
repealing section 77 of this title, and enacting provisions set out
as notes under sections 1464, 1730, and 1813 of this title] and any
provisions of law enacted by said titles shall be effective only
during the period ending at the close of June 30, 1972. Effective
upon the expiration of such period, each provision of law amended
by either of such titles is further amended to read as it did
immediately prior to the enactment of this Act [Oct. 16, 1966] and
each provision of law repealed by either of such titles is
reenacted."
EFFECTIVE DATE OF 1960 AMENDMENT
Section 7 of Pub. L. 86-671 provided that: "The amendments made
by this Act [amending this section and sections 161, 1813, 1820 and
repealing section 162 of this title] shall take effect on January
1, 1961, except that the certified statements covering the
semiannual period ending December 31, 1960, and the determination
and payment of assessments (for the semiannual period ending June
30, 1961) required to be certified in such statements, shall be
made as if such amendments were not in effect."
SHORT TITLE OF 1978 AMENDMENT
For short title of title VI of Pub. L. 95-630 as the "Change in
Bank Control Act of 1978", see section 601 of Pub. L. 95-630, set
out as a note under section 1811 of this title.
REGULATIONS
Pub. L. 109-171, title II, Sec. 2109, Feb. 8, 2006, 120 Stat. 20,
provided that:
"(a) In General. - Not later than 270 days after the date of the
enactment of this Act [Feb. 8, 2006], the Board of Directors of the
Federal Deposit Insurance Corporation shall prescribe final
regulations, after notice and opportunity for comment -
"(1) designating the reserve ratio for the Deposit Insurance
Fund in accordance with section 7(b)(3) of the Federal Deposit
Insurance Act [12 U.S.C. 1817(b)(3)] (as amended by section 2105
of this subtitle);
"(2) implementing increases in deposit insurance coverage in
accordance with the amendments made by section 2103 of this
subtitle [amending 12 U.S.C. 1821];
"(3) implementing the dividend requirement under section
7(e)(2) of the Federal Deposit Insurance Act [12 U.S.C.
1817(e)(2)] (as amended by section 2107 of this subtitle);
"(4) implementing the 1-time assessment credit to certain
insured depository institutions in accordance with section
7(e)(3) of the Federal Deposit Insurance Act [12 U.S.C.
1817(e)(3)], as amended by section 2107 of this subtitle,
including the qualifications and procedures under which the
Corporation would apply assessment credits; and
"(5) providing for assessments under section 7(b) of the
Federal Deposit Insurance Act [12 U.S.C. 1817(b)], as amended by
this subtitle.
"(b) Transition Provisions. -
"(1) Continuation of existing assessment regulations. - No
provision of this subtitle [subtitle B (Secs. 2101-2109) of title
II of Pub. L. 109-171, see Short Title of 2006 Amendment note set
out under section 1811 of this title] or any amendment made by
this subtitle shall be construed as affecting the authority of
the Corporation to set or collect deposit insurance assessments
pursuant to any regulations in effect before the effective date
of the final regulations prescribed under subsection (a).
"(2) Treatment of dif members under existing regulations. - As
of the date of the merger of the Bank Insurance Fund and the
Savings Association Insurance Fund pursuant to section 2102
[section 2102 of Pub. L. 109-171, set out as a Merger of BIF and
SAIF note under section 1821 of this title], the assessment
regulations in effect immediately before the date of the
enactment of this Act [Feb. 8, 2006] shall continue to apply to
all members of the Deposit Insurance Fund, until such regulations
are modified by the Corporation, notwithstanding that such
regulations may refer to 'Bank Insurance Fund members' or
'Savings Association Insurance Fund members'."
Section 302(c) of Pub. L. 102-242 provided that: "To implement
the risk-based assessment system required under section 7(b) of the
Federal Deposit Insurance Act [12 U.S.C. 1817(b)] (as amended by
subsection (a)), the Federal Deposit Insurance Corporation shall -
"(1) provide notice of proposed regulations in the Federal
Register, not later than December 31, 1992, with an opportunity
for comment on the proposal of not less than 120 days; and
"(2) promulgate final regulations not later than July 1, 1993."
Section 302(f) of Pub. L. 102-242 provided that: "To carry out
the amendments made by this section [amending this section and
sections 1815, 1818, and 1820 of this title], the Corporation may
promulgate regulations governing the transition from the assessment
system in effect on the date of enactment of this Act [Dec. 19,
1991] to the assessment system required under the amendments made
by this section."
TERMINATION OF TRUST TERRITORY OF THE PACIFIC ISLANDS
For termination of Trust Territory of the Pacific Islands, see
note set out preceding section 1681 of Title 48, Territories and
Insular Possessions.
REPORT TO CONGRESS ON REFUNDS, DIVIDENDS, AND CREDITS FROM DEPOSIT
INSURANCE FUND
Pub. L. 109-173, Sec. 5, Feb. 15, 2006, 119 Stat. 3606, provided
that:
"(a) Submission. - Any determination under section 7(e)(2)(E) of
the Federal Deposit Insurance Act [12 U.S.C. 1817(e)(2)(E)], as
added by section 2107(a) of the Federal Deposit Insurance Reform
Act of 2005 [Pub. L. 109-171], shall be submitted to the Committee
on Banking, Housing, and Urban Affairs of the Senate and the
Committee on Financial Services of the House of Representatives,
not later than 270 days after making such determination.
"(b) Content. - The report submitted under subsection (a) shall
include -
"(1) a detailed explanation for the determination; and
"(2) a discussion of the factors required to be considered
under section 7(e)(2)(F) of the Federal Deposit Insurance Act, as
added by section 2107(a) of the Federal Deposit Insurance Reform
Act of 2005."
SPECIAL ASSESSMENT TO CAPITALIZE SAIF
Pub. L. 104-208, div. A, title II, Sec. 2702, Sept. 30, 1996, 110
Stat. 3009-479, provided that the Board of Directors of the Federal
Deposit Insurance Corporation was to impose a special assessment on
the SAIF-assessable deposits of each insured depository institution
in accordance with assessment regulations of the Corporation at a
rate applicable to all such institutions that the Board of
Directors determined would cause the Savings Association Insurance
Fund to achieve the designated reserve ratio on the first business
day of the 1st month beginning after Sept. 30, 1996.
SMALL BUSINESS AND SMALL FARM LOAN INFORMATION
Section 122 of Pub. L. 102-242, as amended by Pub. L. 102-550,
title XVI, Sec. 1603(c), Oct. 28, 1992, 106 Stat. 4079, provided
that:
"(a) In General. - Before the end of the 180-day period beginning
on the date of the enactment of this Act [Dec. 19, 1991], the
appropriate Federal banking agency shall prescribe regulations
requiring insured depository institutions to annually submit
information on small businesses and small farm lending in their
reports of condition.
"(b) Credit Availability. - The regulations prescribed under
subsection (a) shall require insured depository institutions to
submit such information as the agency may need to assess the
availability of credit to small businesses and small farms.
"(c) Contents. - The information required under subsection (a)
may include information regarding the following:
"(1) The total number and aggregate dollar amount of commercial
loans and commercial mortgage loans to small businesses.
"(2) Charge-offs, interest, and interest fee income on
commercial loans and commercial mortgage loans to small
businesses.
"(3) Agricultural loans to small farms."
CONDITIONS GOVERNING EMPLOYMENT OF PERSONNEL NOT REPEALED,
MODIFIED, OR AFFECTED
Nothing contained in section 201 of Pub. L. 89-695, which amended
this section, to be construed as repealing, modifying, or affecting
section 1829 of this title, see section 206 of Pub. L. 89-695, set
out as a note under section 1813 of this title.
(!1) So in original. Probably should be preceded by "to".
(!2) So in original. Probably should be "depository
institution".
(!3) See References in Text note below.