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§ 1817. —  Assessments.



[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
  January 24, 2002 and December 19, 2002]
[CITE: 12USC1817]

 
                       TITLE 12--BANKS AND BANKING
 
            CHAPTER 16--FEDERAL DEPOSIT INSURANCE CORPORATION
 
Sec. 1817. Assessments


(a) Reports of condition; access to reports

    (1) Each insured State nonmember bank (except a District bank) and 
each foreign bank having an insured branch which is not a Federal branch 
shall make to the Corporation reports of condition which shall be in 
such form and shall contain such information as the Board of Directors 
may require. Such reports shall be made to the Corporation on the dates 
selected as provided in paragraph (3) of this subsection and the deposit 
liabilities shall be reported therein in accordance with and pursuant to 
paragraphs (4) and (5) of this subsection. The Board of Directors may 
call for additional reports of condition on dates to be fixed by it and 
may call for such other reports as the Board may from time to time 
require. Any such bank which (A) maintains procedures reasonably adapted 
to avoid any inadvertent error and, unintentionally and as a result of 
such an error, fails to make or publish any report required under this 
paragraph, within the period of time specified by the Corporation, or 
submits or publishes any false or misleading report or information, or 
(B) inadvertently transmits or publishes any report which is minimally 
late, shall be subject to a penalty of not more than $2,000 for each day 
during which such failure continues or such false or misleading 
information is not corrected. Such bank shall have the burden of proving 
that an error was inadvertent and that a report was inadvertently 
transmitted or published late. Any such bank which fails to make or 
publish any report required under this paragraph, within the period of 
time specified by the Corporation, or submits or publishes any false or 
misleading report or information, in a manner not described in the 2nd 
preceding sentence shall be subject to a penalty of not more than 
$20,000 for each day during which such failure continues or such false 
or misleading information is not corrected. Notwithstanding the 
preceding sentence, if any such bank knowingly or with reckless 
disregard for the accuracy of any information or report described in 
such sentence submits or publishes any false or misleading report or 
information, the Corporation may assess a penalty of not more than 
$1,000,000 or 1 percent of total assets of such bank, whichever is less, 
per day for each day during which such failure continues or such false 
or misleading information is not corrected. Any penalty imposed under 
any of the 4 preceding sentences shall be assessed and collected by the 
Corporation in the manner provided in subparagraphs (E), (F), (G), and 
(I) of section 1818(i)(2) of this title (for penalties imposed under 
such section) and any such assessment (including the determination of 
the amount of the penalty) shall be subject to the provisions of such 
section. Any such bank against which any penalty is assessed under this 
subsection shall be afforded an agency hearing if such bank submits a 
request for such hearing within 20 days after the issuance of the notice 
of assessment. Section 1818(h) of this title shall apply to any 
proceeding under this paragraph.
    (2)(A) The Corporation and, with respect to any State depository 
institution, any appropriate State bank supervisor for such institution, 
shall have access to reports of examination made by, and reports of 
condition made to, the Comptroller of the Currency, the Director of the 
Office of Thrift Supervision, the Federal Housing Finance Board, any 
Federal home loan bank, or any Federal Reserve bank and to all revisions 
of reports of condition made to any of them, and they 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. The 
Corporation may accept any report made by or to any commission, board, 
or authority having supervision of a depository institution, and may 
furnish to the Comptroller of the Currency, the \1\ Director of the 
Office of Thrift Supervision, the \1\ Federal Housing Finance Board, any 
\1\ Federal home loan bank, to any Federal Reserve bank, and to any such 
commission, board, or authority, reports of examinations made on behalf 
of, and reports of condition made to, the Corporation.
---------------------------------------------------------------------------
    \1\ So in original. Probably should be preceded by ``to''.
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    (B) Additional reports.--The Board of Directors may from time to 
time require any insured depository institution to file such additional 
reports as the Corporation, after agreement with the Comptroller of the 
Currency, the Board of Governors of the Federal Reserve System, and the 
Director of the Office of Thrift Supervision, as appropriate, may deem 
advisable for insurance purposes.
    (3) Each insured depository institution shall make to the 
appropriate Federal banking agency 4 reports of condition annually upon 
dates which shall be selected by the Chairman of the Board of Directors, 
the Comptroller of the Currency, and the Chairman of the Board of 
Governors of the Federal Reserve System, and the Director of the Office 
of Thrift Supervision. The dates selected shall be the same for all 
insured depository institutions, except that when any of said reporting 
dates is a nonbusiness day for any depository institution, the preceding 
business day shall be its reporting date. 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. The deposit liabilities shall be reported in said reports 
of conditions in accordance with and pursuant to paragraphs (4) and (5) 
of this subsection, and such other information shall be reported therein 
as may be required by the respective agencies. Each said report of 
condition shall contain a declaration by the president, a vice 
president, the cashier or the treasurer, or by any other officer 
designated by the board of directors or trustees of the reporting 
depository institution to make such declaration, that the report is true 
and correct to the best of his knowledge and belief. The correctness of 
said report of condition shall be attested by the signatures of at least 
two directors or trustees of the reporting depository institution other 
than the officer making such declaration, with a declaration that the 
report has been examined by them and to the best of their knowledge and 
belief is true and correct. At the time of making said reports of 
condition each insured depository institution shall furnish to the 
Corporation a copy thereof containing such signed declaration and 
attestations. Nothing herein shall preclude any of the foregoing 
agencies from requiring the banks or savings associations under its 
jurisdiction to make additional reports of condition at any time.
    (4) In the reports of condition required to be made by paragraph (3) 
of this subsection, each insured depository institution shall report the 
total amount of the liability of the depository institution for deposits 
in the main office and in any branch located in any State of the United 
States, the District of Columbia, any Territory of the United States, 
Puerto Rico, Guam, American Samoa, the Trust Territory of the Pacific 
Islands, or the Virgin Islands, according to the definition of the term 
``deposit'' in and pursuant to subsection (l) of section 1813 of this 
title without any deduction for indebtedness of depositors or creditors 
or any deduction for cash items in the process of collection drawn on 
others than the reporting depository institution: Provided, That the 
depository institution in reporting such deposits may (i) subtract from 
the deposit balance due to any depository institution the deposit 
balance due from the same depository institution (other than trust funds 
deposited by either depository institution) and any cash items in the 
process of collection due from or due to such depository institutions 
shall be included in determining such net balance, except that balances 
of time deposits of any depository institution and any balances standing 
to the credit of private depository institutions, of depository 
institutions in foreign countries, of foreign branches of other American 
depository institutions, and of American branches of foreign banks shall 
be reported gross without any such subtraction, and (ii) exclude any 
deposits received in any office of the depository institution for 
deposit in any other office of the depository institution: And provided 
further, That outstanding drafts (including advices and authorizations 
to charge depository institution's balance in another depository 
institution) drawn in the regular course of business by the reporting 
depository institution on depository institutions need not be reported 
as deposit liabilities. The amount of trust funds held in the depository 
institution's own trust department, which the reporting depository 
institution keeps segregated and apart from its general assets and does 
not use in the conduct of its business, shall not be included in the 
total deposits in such reports, but shall be separately stated in such 
reports. Deposits which are accumulated for the payment of personal 
loans and are assigned or pledged to assure payment of loans at maturity 
shall not be included in the total deposits in such reports, but shall 
be deducted from the loans for which such deposits are assigned or 
pledged to assure repayment.
    (5) The deposits to be reported on such reports of condition shall 
be segregated between (i) time and savings deposits and (ii) demand 
deposits. For this purpose, the time and savings deposits shall consist 
of time certificates of deposit, time deposits-open account, and savings 
deposits; and demand deposits shall consist of all deposits other than 
time and savings deposits.
    (6) Lifeline account deposits.--In the reports of condition required 
to be reported under this subsection, the deposits in lifeline accounts 
(as defined in section 1834(a)(3)(C) of this title) shall be reported 
separately.
    (7) The Board of Directors, after consultation with the Comptroller 
of the Currency, the Director of the Office of Thrift Supervision, and 
the Board of Governors of the Federal Reserve System, may by regulation 
define the terms ``cash items'' and ``process of collection'', and shall 
classify deposits as ``time'', ``savings'', and ``demand'' deposits, for 
the purposes of this section.
    (8) In respect of any report required or authorized to be supplied 
or published pursuant to this subsection or any other provision of law, 
the Board of Directors or the Comptroller of the Currency, as the case 
may be, may differentiate between domestic banks and foreign banks to 
such extent as, in their judgment, may be reasonably required to avoid 
hardship and can be done without substantial compromise of insurance 
risk or supervisory and regulatory effectiveness.
    (9) Data collections.--In addition to or in connection with any 
other report required under this subsection, the Corporation shall take 
such action as may be necessary to ensure that--
        (A) each insured depository institution maintains; and
        (B) the Corporation receives on a regular basis from such 
    institution,

information on the total amount of all insured deposits, preferred 
deposits, and uninsured deposits at the institution. 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.
    (10) A Federal banking agency may not, by regulation or otherwise, 
designate, or require an insured institution or an affiliate to 
designate, a corporation as highly leveraged or a transaction with a 
corporation as a highly leveraged transaction solely because such 
corporation is or has been a debtor or bankrupt under title 11, if, 
after confirmation of a plan of reorganization, such corporation would 
not otherwise be highly leveraged.

(b) Assessments

                  (1) Risk-based assessment system

        (A) Risk-based assessment system required

            The Board of Directors shall, by regulation, establish a 
        risk-based assessment system for insured depository 
        institutions.

        (B) Private reinsurance authorized

            In carrying out this paragraph, the Corporation may--
                (i) obtain private reinsurance covering not more than 10 
            percent of any loss the Corporation incurs with respect to 
            an insured depository institution; and
                (ii) base that institution's semiannual assessment (in 
            whole or in part) on the cost of the reinsurance.

        (C) ``Risk-based assessment system'' defined

            For purposes of this paragraph, the term ``risk-based 
        assessment system'' means a system for calculating a depository 
        institution's semiannual assessment based on--
                (i) the probability that the deposit insurance fund will 
            incur a loss with respect to the institution, taking into 
            consideration the risks attributable to--
                    (I) different categories and concentrations of 
                assets;
                    (II) different categories and concentrations of 
                liabilities, both insured and uninsured, contingent and 
                noncontingent; and
                    (III) any other factors the Corporation determines 
                are relevant to assessing such probability;

                (ii) the likely amount of any such loss; and
                (iii) the revenue needs of the deposit insurance fund.

        (D) Separate assessment systems

            The Board of Directors may establish separate risk-based 
        assessment systems for large and small members of each deposit 
        insurance fund.

                       (2) Setting assessments

        (A) Achieving and maintaining designated reserve ratio

            (i) In general

                The Board of Directors shall set semiannual assessments 
            for insured depository institutions when necessary, and only 
            to the extent necessary--
                    (I) to maintain the reserve ratio of each deposit 
                insurance fund 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 as provided in paragraph 
                (3).
            (ii) Factors to be considered

                In carrying out clause (i), the Board of Directors shall 
            consider the deposit insurance fund's--
                    (I) expected operating expenses,
                    (II) case resolution expenditures and income,
                    (III) the effect of assessments on members' earnings 
                and capital, and
                    (IV) any other factors that the Board of Directors 
                may deem appropriate.
            (iii) Limitation on assessment

                Except as provided in clause (v), the Board of Directors 
            shall not set semiannual assessments with respect to a 
            deposit insurance fund in excess of the amount needed--
                    (I) to maintain the reserve ratio of the fund 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.
            (iv) Designated reserve ratio defined

                The designated reserve ratio of each deposit insurance 
            fund for each year shall be--
                    (I) 1.25 percent of estimated insured deposits; or
                    (II) a higher percentage of estimated insured 
                deposits that the Board of Directors determines to be 
                justified for that year by circumstances raising a 
                significant risk of substantial future losses to the 
                fund.
            (v) Exception to limitation on assessments

                The Board of Directors may set semiannual assessments in 
            excess of the amount permitted under clauses (i) and (iii) 
            with respect to insured depository institutions that exhibit 
            financial, operational, or compliance weaknesses ranging 
            from moderately severe to unsatisfactory, or are not well 
            capitalized, as that term is defined in section 1831o of 
            this title.

        (B) Independent treatment of funds

            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.

        (C) Notice of assessments

            The Corporation shall notify each insured depository 
        institution of that institution's semiannual assessment.

        (D) Repealed. Pub. L. 104-208, div. A, title II, Sec. 2703(b), 
                Sept. 30, 1996, 110 Stat. 3009-485

        (E) Minimum assessments

            The Corporation shall design the risk-based assessment 
        system for any deposit insurance fund so that, if the 
        Corporation has borrowings outstanding under section 1824 of 
        this title on behalf of that fund or the reserve ratio of that 
        fund remains below the designated reserve ratio, the total 
        amount raised by semiannual assessments on members of that fund 
        shall be not less than the total amount that would have been 
        raised if--
                (i) this subsection as in effect on July 15, 1991 
            remained in effect;
                (ii) the assessment rate in effect on July 15, 1991 
            remained in effect; and
                (iii) notwithstanding any other provision of this 
            subsection, during the period beginning on September 30, 
            1996, and ending on December 31, 1998, the assessment rate 
            for a Savings Association Insurance Fund member may not be 
            less than the assessment rate for a Bank Insurance Fund 
            member that poses a comparable risk to the deposit insurance 
            fund.

        (F) Transition rule for Savings Association Insurance Fund

            With respect to the Savings Association Insurance Fund, 
        during the period beginning on the effective date of the 
        amendments made by section 302(a) of the Federal Deposit 
        Insurance Corporation Improvement Act of 1991 and ending on 
        December 31, 1997--
                (i) subparagraph (A)(i)(II) shall apply as if such 
            subparagraph did not include ``as provided in paragraph 
            (3)''; and
                (ii) subparagraph (E) shall be applied by substituting 
            ``if this subsection as in effect on July 15, 1991 remained 
            in effect.'' for ``if--'' and all that follows through 
            clause (ii).

        (G) Special rule until the insurance funds achieve the 
                designated reserve ratio

            Until a deposit insurance fund achieves the designated 
        reserve ratio, the Corporation may limit the maximum assessment 
        on insured depository institutions under the risk-based 
        assessment system authorized under paragraph (1) to not less 
        than 10 basis points above the average assessment on insured 
        depository institutions under that system.

        (H) Bank Enterprise Act requirement

            The Corporation shall design the risk-based assessment 
        system so that, insofar as the system bases assessments, 
        directly or indirectly, on deposits, the portion of the deposits 
        of any insured depository institution which are attributable to 
        lifeline accounts established in accordance with the Bank 
        Enterprise Act of 1991 shall be subject to assessment at a rate 
        determined in accordance with such Act.

     (3) Special rule for recapitalizing undercapitalized funds

        (A) In general

            Except as provided in paragraph (2)(F), if the reserve ratio 
        of any deposit insurance fund is less than the designated 
        reserve ratio under paragraph (2)(A)(iv), the Board of Directors 
        shall set semiannual assessment rates for members of that fund--
                (i) that are sufficient to increase the reserve ratio 
            for that fund to the designated reserve ratio not later than 
            1 year after such rates are set; or
                (ii) in accordance with a schedule promulgated by the 
            Corporation under subparagraph (B).

        (B) Recapitalization schedules

            For purposes of subparagraph (A)(ii), the Corporation shall 
        by regulation promulgate a schedule that specifies, at 
        semiannual intervals, target reserve ratios for that fund, 
        culminating in a reserve ratio that is equal to the designated 
        reserve ratio not later than 15 years after the date on which 
        the schedule is implemented.

        (C) Amending schedule

            The Corporation may, by regulation, amend a schedule 
        promulgated under subparagraph (B) 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.

        (D) Application to SAIF members

            This paragraph shall become applicable to Savings 
        Association Insurance Fund members on January 1, 1998.

                  (4) ``Semiannual period'' defined

        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.

                    (5) Records to be maintained

        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.

                  (6) Emergency special assessments

        In addition to the other assessments imposed on insured 
    depository institutions under this subsection, the Corporation may 
    impose 1 or more special assessments on insured depository 
    institutions in an amount determined by the Corporation if the 
    amount of any such assessment--
            (A) is necessary--
                (i) to provide sufficient assessment income to repay 
            amounts borrowed from the Secretary of the Treasury under 
            section 1824(a) of this title in accordance with the 
            repayment schedule in effect under section 1824(c) of this 
            title during the period with respect to which such 
            assessment is imposed;
                (ii) to provide sufficient assessment income to repay 
            obligations issued to and other amounts borrowed from Bank 
            Insurance Fund members under section 1824(d) of this title; 
            or
                (iii) for any other purpose the Corporation may deem 
            necessary; and

            (B) 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.

                  (7) Community enterprise credits

        The Corporation shall allow a credit against any semiannual 
    assessment to any insured depository institution which satisfies the 
    requirements of the Community Enterprise Assessment Credit Board 
    under section 233(a)(1) of the Bank Enterprise Act of 1991 [12 
    U.S.C. 1834a(a)(1)] in the amount determined by such Board by 
    regulation.

(c) Certified statements; payments

                  (1) Certified statements required

        (A) In general

            Each insured depository institution shall file with the 
        Corporation a certified statement containing such information as 
        the Corporation may require for determining the institution's 
        semiannual assessment.

        (B) Form of certification

            The certified statement required under subparagraph (A) 
        shall--
                (i) be in such form and set forth such supporting 
            information as the Board of Directors shall prescribe; and
                (ii) be certified by the president of the depository 
            institution or any other officer designated by its board of 
            directors or trustees that to the best of his or her 
            knowledge and belief, the statement is true, correct and 
            complete, and in accordance with this chapter and 
            regulations issued hereunder.

                        (2) Payments required

        (A) In general

            Each insured depository institution shall pay to the 
        Corporation the semiannual assessment imposed under subsection 
        (b) of this section.

        (B) Form of payment

            The payments required under subparagraph (A) shall be made 
        in such manner and at such time or times as the Board of 
        Directors shall prescribe by regulation.

                   (3) Newly insured institutions

        To facilitate the administration of this section, the Board of 
    Directors may waive the requirements of paragraphs (1) and (2) for 
    the semiannual period in which a depository institution becomes 
    insured.

    (4) Penalty for failure to make accurate certified statement

        (A) First tier

            Any insured depository institution which--
                (i) maintains procedures reasonably adapted to avoid any 
            inadvertent error and, unintentionally and as a result of 
            such an error, fails to submit the certified statement under 
            paragraph (1) within the period of time required under 
            paragraph (1) or submits a false or misleading certified 
            statement; or
                (ii) submits the statement at a time which is minimally 
            after the time required in such paragraph,

        shall be subject to a penalty of not more than $2,000 for each 
        day during which such failure continues or such false and 
        misleading information is not corrected. The institution shall 
        have the burden of proving that an error was inadvertent or that 
        a statement was inadvertently submitted late.

        (B) Second tier

            Any insured depository institution which fails to submit the 
        certified statement under paragraph (1) within the period of 
        time required under paragraph (1) or submits a false or 
        misleading certified statement in a manner not described in 
        subparagraph (A) shall be subject to a penalty of not more than 
        $20,000 for each day during which such failure continues or such 
        false and misleading information is not corrected.

        (C) Third tier

            Notwithstanding subparagraphs (A) and (B), if any insured 
        depository institution knowingly or with reckless disregard for 
        the accuracy of any certified statement described in paragraph 
        (1) submits a false or misleading certified statement under 
        paragraph (1), the Corporation may assess a penalty of not more 
        than $1,000,000 or not more than 1 percent of the total assets 
        of the institution, whichever is less, per day for each day 
        during which the failure continues or the false or misleading 
        information in such statement is not corrected.

        (D) Assessment procedure

            Any penalty imposed under this paragraph shall be assessed 
        and collected by the Corporation in the manner provided in 
        subparagraphs (E), (F), (G), and (I) of section 1818(i)(2) of 
        this title (for penalties imposed under such section) and any 
        such assessment (including the determination of the amount of 
        the penalty) shall be subject to the provisions of such section.

        (E) Hearing

            Any insured depository institution against which any penalty 
        is assessed under this paragraph shall be afforded an agency 
        hearing if the institution submits a request for such hearing 
        within 20 days after the issuance of the notice of the 
        assessment. Section 1818(h) of this title shall apply to any 
        proceeding under this subparagraph.

(d) Corporation exempt from apportionment

    Notwithstanding any other provision of law, amounts received 
pursuant to any assessment under this section and any other amounts 
received by the Corporation shall not be subject to apportionment for 
the purposes of chapter 15 of title 31 or under any other authority.

(e) Refunds

                          (1) Overpayments

        In the case of any payment of an assessment by an insured 
    depository institution in excess of the amount due to the 
    Corporation, the Corporation may--
            (A) refund the amount of the excess payment to the insured 
        depository institution; or
            (B) credit such excess amount toward the payment of 
        subsequent semiannual assessments until such credit is 
        exhausted.

       (2) Balance in insurance fund in excess of designated 
                                   reserve

        (A) In general

            Subject to subparagraphs (B) and (C), if, as of the end of 
        any semiannual assessment period beginning after September 30, 
        1996, the amount of the actual reserves in--
                (i) the Bank Insurance Fund (until the merger of such 
            fund into the Deposit Insurance Fund pursuant to section 
            2704 of the Deposit Insurance Funds Act of 1996); or
                (ii) the Deposit Insurance Fund (after the establishment 
            of such fund),

        exceeds the balance required to meet the designated reserve 
        ratio applicable with respect to such fund, such excess amount 
        shall be refunded to insured depository institutions by the 
        Corporation on such basis as the Board of Directors determines 
        to be appropriate, taking into account the factors considered 
        under the risk-based assessment system.

        (B) Refund not to exceed previous semiannual assessment

            The amount of any refund under this paragraph to any member 
        of a deposit insurance fund for any semiannual assessment period 
        may not exceed the total amount of assessments paid by such 
        member to the insurance fund with respect to such period.

        (C) Refund limitation for certain institutions

            No refund may be made under this paragraph with respect to 
        the amount of any assessment paid for any semiannual assessment 
        period by any insured depository institution described in clause 
        (v) of subsection (b)(2)(A) of this section.

(f) Action against depository institutions failing to file certified 
        statements

    Any insured depository institution which fails to make any report of 
condition under subsection (a) of this section or to file any certified 
statement required to be filed by it in connection with determining the 
amount of any assessment payable by the depository institution to the 
Corporation may be compelled to make such report or file such statement 
by mandatory injunction or other appropriate remedy in a suit brought 
for such purpose by the Corporation against the depository institution 
and any officer or officers thereof in any court of the United States of 
competent jurisdiction in the District or Territory in which such 
depository institution is located.

(g) Action by Corporation to recover assessments

    The Corporation, in a suit brought at law or in equity in any court 
of competent jurisdiction, shall be entitled to recover from any insured 
depository institution the amount of any unpaid assessment lawfully 
payable by such insured depository institution to the Corporation, 
whether or not such depository institution shall have made any such 
report of condition under subsection (a) of this section or filed any 
such certified statement and whether or not suit shall have been brought 
to compel the depository institution to make any such report or file any 
such statement. No action or proceeding shall be brought for the 
recovery of any assessment due to the Corporation, or for the recovery 
of any amount paid to the Corporation in excess of the amount due to it, 
unless such action or proceeding shall have been brought within five 
years after the right accrued for which the claim is made, except where 
the insured depository institution has made or filed with the 
Corporation a false or fraudulent certified statement with the intent to 
evade, in whole or in part, the payment of assessment, in which case the 
claim shall not be deemed to have accrued until the discovery by the 
Corporation that the certified statement is false or fraudulent: 
Provided, however, That where a cause of action has already accrued, and 
the period herein prescribed within which an action may be brought has 
expired, or will expire within one year from September 21, 1950, an 
action may be brought on such cause of action within one year from 
September 21, 1950: And provided further, That no action or proceeding 
shall be brought for the recovery of any assessment on deposits alleged 
to have been omitted from the assessment base of any insured depository 
institution for any year prior to 1945 except that any claim of the 
Corporation for the payment of any assessment may be offset by it 
against any claim of the depository institution for the overpayment of 
any assessment.

(h) Forfeiture of rights for failure to comply with law

    Should any national member bank or any insured national nonmember 
bank fail to make any report of condition under subsection (a) of this 
section or to file any certified statement required to be filed by such 
bank under any provision of this section, or fail to pay any assessment 
required to be paid by such bank under any provision of this chapter, 
and should the bank not correct such failure within thirty days after 
written notice has been given by the Corporation to an officer of the 
bank, citing this subsection, and stating that the bank has failed to 
make any report of condition under subsection (a) of this section or to 
file or pay as required by law, all the rights, privileges, and 
franchises of the bank granted to it under the National Bank Act, as 
amended [12 U.S.C. 21 et seq.], the Federal Reserve Act, as amended [12 
U.S.C. 221 et seq.], or this chapter, shall be thereby forfeited. 
Whether or not the penalty provided in this subsection has been incurred 
shall be determined and adjudged in the manner provided in the sixth 
paragraph of section 2 of the Federal Reserve Act, as amended [12 U.S.C. 
501a]. The remedies provided in this subsection and in subsections (f) 
and (g) of this section shall not be construed as limiting any other 
remedies against any insured depository institution, but shall be in 
addition thereto.

(i) Insurance of trust funds

                           (1) In general

        Trust funds held on deposit by an insured depository institution 
    in a fiduciary capacity as trustee pursuant to any irrevocable trust 
    established pursuant to any statute or written trust agreement shall 
    be insured in an amount not to exceed $100,000 for each trust 
    estate.

                       (2) Interbank deposits

        Trust funds described in paragraph (1) which are deposited by 
    the fiduciary depository institution in another insured depository 
    institution shall be similarly insured to the fiduciary depository 
    institution according to the trust estates represented.

            (3) Bank deposit financial assistance program

        Notwithstanding paragraph (1), funds deposited by an insured 
    depository institution pursuant to the Bank Deposit Financial 
    Assistance Program of the Department of Energy shall be separately 
    insured in an amount not to exceed $100,000 for each insured 
    depository institution depositing such funds.

                           (4) Regulations

        The Board of Directors may prescribe such regulations as may be 
    necessary to clarify the insurance coverage under this subsection 
    and to prescribe the manner of reporting and depositing such trust 
    funds.

(j) Change in control of insured depository institutions

    (1) No person, acting directly or indirectly or through or in 
concert with one or more other persons, shall acquire control of any 
insured depository institution through a purchase, assignment, transfer, 
pledge, or other disposition of voting stock of such insured depository 
institution unless the appropriate Federal banking agency has been given 
sixty days' prior written notice of such proposed acquisition and within 
that time period the agency has not issued a notice disapproving the 
proposed acquisition or, in the discretion of the agency, extending for 
an additional 30 days the period during which such a disapproval may 
issue. The period for disapproval under the preceding sentence may be 
extended not to exceed 2 additional times for not more than 45 days each 
time if--
        (A) the agency determines that any acquiring party has not 
    furnished all the information required under paragraph (6);
        (B) in the agency's judgment, any material information submitted 
    is substantially inaccurate;
        (C) the agency has been unable to complete the investigation of 
    an acquiring party under paragraph (2)(B) because of any delay 
    caused by, or the inadequate cooperation of, such acquiring party; 
    or
        (D) the agency determines that additional time is needed to 
    investigate and determine that no acquiring party has a record of 
    failing to comply with the requirements of subchapter II of chapter 
    53 of title 31.

An acquisition may be made prior to expiration of the disapproval period 
if the agency issues written notice of its intent not to disapprove the 
action.
    (2)(A) Notice to State Agency.--Upon receiving any notice under this 
subsection, the appropriate Federal banking agency shall forward a copy 
thereof to the appropriate State depository institution supervisory 
agency if the depository institution the voting shares of which are 
sought to be acquired is a State depository institution, and shall allow 
thirty days within which the views and recommendations of such State 
depository institution supervisory agency may be submitted. The 
appropriate Federal banking agency shall give due consideration to the 
views and recommendations of such State agency in determining whether to 
disapprove any proposed acquisition. Notwithstanding the provisions of 
this paragraph, if the appropriate Federal banking agency determines 
that it must act immediately upon any notice of a proposed acquisition 
in order to prevent the probable default of the depository institution 
involved in the proposed acquisition, such Federal banking agency may 
dispense with the requirements of this paragraph or, if a copy of the 
notice is forwarded to the State depository institution supervisory 
agency, such Federal banking agency may request that the views and 
recommendations of such State depository institution supervisory agency 
be submitted immediately in any form or by any means acceptable to such 
Federal banking agency.
    (B) Investigation of Principals Required.--Upon receiving any notice 
under this subsection, the appropriate Federal banking agency shall--
        (i) conduct an investigation of the competence, experience, 
    integrity, and financial ability of each person named in a notice of 
    a proposed acquisition as a person by whom or for whom such 
    acquisition is to be made; and
        (ii) make an independent determination of the accuracy and 
    completeness of any information described in paragraph (6) with 
    respect to such person.

    (C) Report.--The appropriate Federal banking agency shall prepare a 
written report of any investigation under subparagraph (B) which shall 
contain, at a minimum, a summary of the results of such investigation. 
The agency shall retain such written report as a record of the agency.
    (D) Public Comment.--Upon receiving notice of a proposed 
acquisition, the appropriate Federal banking agency shall, unless such 
agency determines that an emergency exists, within a reasonable period 
of time--
        (i) publish the name of the insured depository institution 
    proposed to be acquired and the name of each person identified in 
    such notice as a person by whom or for whom such acquisition is to 
    be made; and
        (ii) solicit public comment on such proposed acquisition, 
    particularly from persons in the geographic area where the bank \2\ 
    proposed to be acquired is located, before final consideration of 
    such notice by the agency,
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    \2\ So in original. Probably should be ``depository institution''.

unless the agency determines in writing that such disclosure or 
solicitation would seriously threaten the safety or soundness of such 
bank.\2\
    (3) Within three days after its decision to disapprove any proposed 
acquisition, the appropriate Federal banking agency shall notify the 
acquiring party in writing of the disapproval. Such notice shall provide 
a statement of the basis for the disapproval.
    (4) Within ten days of receipt of such notice of disapproval, the 
acquiring party may request an agency hearing on the proposed 
acquisition. In such hearing all issues shall be determined on the 
record pursuant to section 554 of title 5. The length of the hearing 
shall be determined by the appropriate Federal banking agency. At the 
conclusion thereof, the appropriate Federal banking agency shall by 
order approve or disapprove the proposed acquisition on the basis of the 
record made at such hearing.
    (5) Any person whose proposed acquisition is disapproved after 
agency hearings under this subsection may obtain review by the United 
States court of appeals for the circuit in which the home office of the 
bank \2\ to be acquired is located, or the United States Court of 
Appeals for the District of Columbia Circuit, by filing a notice of 
appeal in such court within ten days from the date of such order, and 
simultaneously sending a copy of such notice by registered or certified 
mail to the appropriate Federal banking agency. The appropriate Federal 
banking agency shall promptly certify and file in such court the record 
upon which the disapproval was based. The findings of the appropriate 
Federal banking agency shall be set aside if found to be arbitrary or 
capricious or if found to violate procedures established by this 
subsection.
    (6) Except as otherwise provided by regulation of the appropriate 
Federal banking agency, a notice filed pursuant to this subsection shall 
contain the following information:
        (A) The identity, personal history, business background and 
    experience of each person by whom or on whose behalf the acquisition 
    is to be made, including his material business activities and 
    affiliations during the past five years, and a description of any 
    material pending legal or administrative proceedings in which he is 
    a party and any criminal indictment or conviction of such person by 
    a State or Federal court.
        (B) A statement of the assets and liabilities of each person by 
    whom or on whose behalf the acquisition is to be made, as of the end 
    of the fiscal year for each of the five fiscal years immediately 
    preceding the date of the notice, together with related statements 
    of income and source and application of funds for each of the fiscal 
    years then concluded, all prepared in accordance with generally 
    accepted accounting principles consistently applied, and an interim 
    statement of the assets and liabilities for each such person, 
    together with related statements of income and source and 
    application of funds, as of a date not more than ninety days prior 
    to the date of the filing of the notice.
        (C) The terms and conditions of the proposed acquisition and the 
    manner in which the acquisition is to be made.
        (D) The identity, source and amount of the funds or other 
    consideration used or to be used in making the acquisition, and if 
    any part of these funds or other consideration has been or is to be 
    borrowed or otherwise obtained for the purpose of making the 
    acquisition, a description of the transaction, the names of the 
    parties, and any arrangements, agreements, or understandings with 
    such persons.
        (E) Any plans or proposals which any acquiring party making the 
    acquisition may have to liquidate the bank,\3\ to sell its assets or 
    merge it with any company or to make any other major change in its 
    business or corporate structure or management.
---------------------------------------------------------------------------
    \3\ So in original. Probably should be ``depository institution''.
---------------------------------------------------------------------------
        (F) The identification of any person employed, retained, or to 
    be compensated by the acquiring party, or by any person on his 
    behalf, to make solicitations or recommendations to stockholders for 
    the purpose of assisting in the acquisition, and a brief description 
    of the terms of such employment, retainer, or arrangement for 
    compensation.
        (G) Copies of all invitations or tenders or advertisements 
    making a tender offer to stockholders for purchase of their stock to 
    be used in connection with the proposed acquisition.
        (H) Any additional relevant information in such form as the 
    appropriate Federal banking agency may require by regulation or by 
    specific request in connection with any particular notice.

    (7) The appropriate Federal banking agency may disapprove any 
proposed acquisition if--
        (A) the proposed acquisition of control would result in a 
    monopoly or would be in furtherance of any combination or conspiracy 
    to monopolize or to attempt to monopolize the business of banking in 
    any part of the United States;
        (B) the effect of the proposed acquisition of control in any 
    section of the country may be substantially to lessen competition or 
    to tend to create a monopoly or the proposed acquisition of control 
    would in any other manner be in restraint of trade, and the 
    anticompetitive effects of the proposed acquisition of control are 
    not clearly outweighed in the public interest by the probable effect 
    of the transaction in meeting the convenience and needs of the 
    community to be served;
        (C) the financial condition of any acquiring person is such as 
    might jeopardize the financial stability of the bank \3\ or 
    prejudice the interests of the depositors of the bank; \3\
        (D) the competence, experience, or integrity of any acquiring 
    person or of any of the proposed management personnel indicates that 
    it would not be in the interest of the depositors of the bank, or in 
    the interest of the public to permit such person to control the 
    bank; \3\
        (E) any acquiring person neglects, fails, or refuses to furnish 
    the appropriate Federal banking agency all the information required 
    by the appropriate Federal banking agency; or
        (F) the appropriate Federal banking agency determines that the 
    proposed transaction would result in an adverse effect on the Bank 
    Insurance Fund or the Savings Association Insurance Fund.

    (8) For the purposes of this subsection, the term--
        (A) ``person'' means an individual or a corporation, 
    partnership, trust, association, joint venture, pool, syndicate, 
    sole proprietorship, unincorporated organization, or any other form 
    of entity not specifically listed herein; and
        (B) ``control'' means the power, directly or indirectly, to 
    direct the management or policies of an insured depository 
    institution or to vote 25 per centum or more of any class of voting 
    securities of an insured depository institution.

    (9) Reporting of stock loans.--
        (A) Report required.--Any foreign bank, or any affiliate 
    thereof, that has credit outstanding to any person or group of 
    persons which is secured, directly or indirectly, by shares of an 
    insured depository institution shall file a consolidated report with 
    the appropriate Federal banking agency for such insured depository 
    institution if the extensions of credit by the foreign bank or any 
    affiliate thereof, in the aggregate, are secured, directly or 
    indirectly, by 25 percent or more of any class of shares of the same 
    insured depository institution.
        (B) Definitions.--For purposes of this paragraph, the following 
    definitions shall apply:
            (i) Foreign bank.--The terms ``foreign bank'' and 
        ``affiliate'' have the same meanings as in section 3101 of this 
        title.
            (ii) Credit outstanding.--The term ``credit outstanding'' 
        includes--
                (I) any loan or extension of credit,
                (II) the issuance of a guarantee, acceptance, or letter 
            of credit, including an endorsement or standby letter of 
            credit, and
                (III) any other type of transaction that extends credit 
            or financing to the person or group of persons.

            (iii) Group of persons.--The term ``group of persons'' 
        includes any number of persons that the foreign bank or any 
        affiliate thereof reasonably believes--
                (I) are acting together, in concert, or with one another 
            to acquire or control shares of the same insured depository 
            institution, including an acquisition of shares of the same 
            insured depository institution at approximately the same 
            time under substantially the same terms; or
                (II) have made, or propose to make, a joint filing under 
            section 78m of title 15 regarding ownership of the shares of 
            the same insured depository institution.

        (C) Inclusion of shares held by the financial institution.--Any 
    shares of the insured depository institution held by the foreign 
    bank or any affiliate thereof as principal shall be included in the 
    calculation of the number of shares in which the foreign bank or any 
    affiliate thereof has a security interest for purposes of 
    subparagraph (A).
        (D) Report requirements.--
            (i) Timing of report.--The report required under this 
        paragraph shall be a consolidated report on behalf of the 
        foreign bank and all affiliates thereof, and shall be filed in 
        writing within 30 days of the date on which the foreign bank or 
        affiliate thereof first believes that the security for any 
        outstanding credit consists of 25 percent or more of any class 
        of shares of an insured depository institution.
            (ii) Content of report.--The report under this paragraph 
        shall indicate the number and percentage of shares securing each 
        applicable extension of credit, the identity of the borrower, 
        and the number of shares held as principal by the foreign bank 
        and any affiliate thereof.
            (iii) Copy to other agencies.--A copy of any report under 
        this paragraph shall be filed with the appropriate Federal 
        banking agency for the foreign bank or any affiliate thereof (if 
        other than the agency receiving the report under this 
        paragraph).
            (iv) Other information.--Each appropriate Federal banking 
        agency may require any additional information necessary to carry 
        out the agency's supervisory responsibilities.

        (E) Exceptions.--
            (i) Exception where information provided by borrower.--
        Notwithstanding subparagraph (A), a foreign bank or any 
        affiliate thereof shall not be required to report a transaction 
        under this paragraph if the person or group of persons referred 
        to in such subparagraph has disclosed the amount borrowed from 
        such foreign bank or any affiliate thereof and the security 
        interest of the foreign bank or any affiliate thereof to the 
        appropriate Federal banking agency for the insured depository 
        institution in connection with a notice filed under this 
        subsection, an application filed under the Bank Holding Company 
        Act of 1956 [12 U.S.C. 1841 et seq.], section 1467a of this 
        title, or any other application filed with the appropriate 
        Federal banking agency for the insured depository institution as 
        a substitute for a notice under this subsection, such as an 
        application for deposit insurance, membership in the Federal 
        Reserve System, or a national bank charter.
            (ii) Exception for shares owned for more than 1 year.--
        Notwithstanding subparagraph (A), a foreign bank and any 
        affiliate thereof shall not be required to report a transaction 
        involving--
                (I) a person or group of persons that has been the owner 
            or owners of record of the stock for a period of 1 year or 
            more; or
                (II) stock issued by a newly chartered bank before the 
            bank's opening.

    (10) The reports required by paragraph (9) of this subsection shall 
contain such of the information referred to in paragraph (6) of this 
subsection, and such other relevant information, as the appropriate 
Federal banking agency may require by regulation or by specific request 
in connection with any particular report.
    (11) The Federal banking agency receiving a notice or report filed 
pursuant to paragraph (1) or (9) shall immediately furnish to the other 
Federal banking agencies a copy of such notice or report.
    (12) Whenever such a change in control occurs, each insured 
depository institution shall report promptly to the appropriate Federal 
banking agency any changes or replacement of its chief executive officer 
or of any director occurring in the next twelve-month period, including 
in its report a statement of the past and current business and 
professional affiliations of the new chief executive officer or 
directors.
    (13) The appropriate Federal banking agencies are authorized to 
issue rules and regulations to carry out this subsection.
    (14) Within two years after the effective date of the Change in Bank 
Control Act of 1978, and each year thereafter in each appropriate 
Federal banking agency's annual report to the Congress, the appropriate 
Federal banking agency shall report to the Congress the results of the 
administration of this subsection, and make any recommendations as to 
changes in the law which in the opinion of the appropriate Federal 
banking agency would be desirable.
    (15) Investigative and Enforcement Authority.--
        (A) Investigations.--The appropriate Federal banking agency may 
    exercise any authority vested in such agency under section 1818(n) 
    of this title in the course of conducting any investigation under 
    paragraph (2)(B) or any other investigation which the agency, in its 
    discretion, determines is necessary to determine whether any person 
    has filed inaccurate, incomplete, or misleading information under 
    this subsection or otherwise is violating, has violated, or is about 
    to violate any provision of this subsection or any regulation 
    prescribed under this subsection.
        (B) Enforcement.--Whenever it appears to the appropriate Federal 
    banking agency that any person is violating, has violated, or is 
    about to violate any provision of this subsection or any regulation 
    prescribed under this subsection, the agency may, in its discretion, 
    apply to the appropriate district court of the United States or the 
    United States court of any territory for--
            (i) a temporary or permanent injunction or restraining order 
        enjoining such person from violating this subsection or any 
        regulation prescribed under this subsection; or
            (ii) such other equitable relief as may be necessary to 
        prevent any such violation (including divestiture).

        (C) Jurisdiction.--
            (i) The district courts of the United States and the United 
        States courts in any territory shall have the same jurisdiction 
        and power in connection with any exercise of any authority by 
        the appropriate Federal banking agency under subparagraph (A) as 
        such courts have under section 1818(n) of this title.
            (ii) The district courts of the United States and the United 
        States courts of any territory shall have jurisdiction and power 
        to issue any injunction or restraining order or grant any 
        equitable relief described in subparagraph (B). When 
        appropriate, any injunction, order, or other equitable relief 
        granted under this paragraph shall be granted without requiring 
        the posting of any bond.

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 August 9, 1989).
    (16) Civil money penalty.--
        (A) First tier.--Any person who violates any provision of this 
    subsection, or any regulation or order issued by the appropriate 
    Federal banking agency under this subsection, shall forfeit and pay 
    a civil penalty of not more than $5,000 for each day during which 
    such violation continues.
        (B) Second tier.--Notwithstanding subparagraph (A), any person 
    who--
            (i)(I) commits any violation described in any clause of 
        subparagraph (A);
            (II) recklessly engages in an unsafe or unsound practice in 
        conducting the affairs of a depository institution; or
            (III) breaches any fiduciary duty;
            (ii) which violation, practice, or breach--
                (I) is part of a pattern of misconduct;
                (II) causes or is likely to cause more than a minimal 
            loss to such institution; or
                (III) results in pecuniary gain or other benefit to such 
            person,

    shall forfeit and pay a civil penalty of not more than $25,000 for 
    each day during which such violation, practice, or breach continues.
        (C) Third tier.--Notwithstanding subparagraphs (A) and (B), any 
    person who--
            (i) knowingly--
                (I) commits any violation described in any clause of 
            subparagraph (A);
                (II) engages in any unsafe or unsound practice in 
            conducting the affairs of a depository institution; or
                (III) breaches any fiduciary duty; and

            (ii) knowingly or recklessly causes a substantial loss to 
        such institution or a substantial pecuniary gain or other 
        benefit to such person by reason of such violation, practice, or 
        breach,

    shall forfeit and pay a civil penalty in an amount not to exceed the 
    applicable maximum amount determined under subparagraph (D) for each 
    day during which such violation, practice, or breach continues.
        (D) Maximum amounts of penalties for any violation described in 
    subparagraph (c).--The maximum daily amount of any civil penalty 
    which may be assessed pursuant to subparagraph (C) for any 
    violation, practice, or breach described in such subparagraph is--
            (i) in the case of any person other than a depository 
        institution, an amount to not exceed $1,000,000; and
            (ii) in the case of a depository institution, an amount not 
        to exceed the lesser of--
                (I) $1,000,000; or
                (II) 1 percent of the total assets of such institution.

        (E) Assessment; etc.--Any penalty imposed under subparagraph 
    (A), (B), or (C) shall be assessed and collected by the appropriate 
    Federal banking agency in the manner provided in subparagraphs (E), 
    (F), (G), and (I) of section 1818(i)(2) of this title for penalties 
    imposed (under such section) and any such assessment shall be 
    subject to the provisions of such section.
        (F) Hearing.--The depository institution or other person against 
    whom any penalty is assessed under this paragraph shall be afforded 
    an agency hearing if such institution or other person submits a 
    request for such hearing within 20 days after the issuance of the 
    notice of assessment. Section 1818(h) of this title shall apply to 
    any proceeding under this paragraph.
        (G) Disbursement.--All penalties collected under authority of 
    this paragraph shall be deposited into the Treasury.

    (17) Exceptions.--This subsection shall not apply with respect to a 
transaction which is subject to--
        (A) section 1842 of this title;
        (B) section 1828(c) of this title; or
        (C) section 1467a of this title.

    (18) Applicability of change in control provisions to other 
institutions.--For purposes of this subsection, the term ``insured 
depository institution'' includes--
        (A) any depository institution holding company; and
        (B) any other company which controls an insured depository 
    institution and is not a depository institution holding company.

(k) Federal banking agency rules and regulations for reports and public 
        disclosure by banks of extension of credit to executive officers 
        or principal shareholders or the related interests of such 
        persons

    The appropriate Federal banking agencies are authorized to issue 
rules and regulations, including definitions of terms, to require the 
reporting and public disclosure of information by a bank or any 
executive officer or principal shareholder thereof concerning extensions 
of credit by the bank to any of its executive officers or principal 
shareholders, or the related interests of such persons.

(l) Designation of fund membership for newly insured depository 
        institutions; definitions

    For purposes of this section:

                       (1) Bank Insurance Fund

        Any institution which--
            (A) becomes an insured depository institution; and
            (B) does not become a Savings Association Insurance Fund 
        member pursuant to paragraph (2),

    shall be a Bank Insurance Fund member.

               (2) Savings Association Insurance Fund

        Any savings association, other than any Federal savings bank 
    chartered pursuant to section 1464(o) of this title, which becomes 
    an insured depository institution shall be a Savings Association 
    Insurance Fund member.

                      (3) Transition provision

        (A) Bank Insurance Fund

            Any depository institution the deposits of which were 
        insured by the Federal Deposit Insurance Corporation on the day 
        before August 9, 1989, including--
                (i) any Federal savings bank chartered pursuant to 
            section 1464(o) of this title; and
                (ii) any cooperative bank,

        shall be a Bank Insurance Fund member as of August 9, 1989.

        (B) Savings Association Insurance Fund

            Any savings association which is an insured depository 
        institution by operation of section 1814(a)(2) of this title 
        shall be a Savings Association Insurance Fund member as of 
        August 9, 1989.

                   (4) Bank Insurance Fund member

        The term ``Bank Insurance Fund member'' means any depository 
    institution the deposits of which are insured by the Bank Insurance 
    Fund.

            (5) Savings Association Insurance Fund member

        The term ``Savings Association Insurance Fund member'' means any 
    depository institution the deposits of which are insured by the 
    Savings Association Insurance Fund.

                (6) Bank Insurance Fund reserve ratio

        The term ``Bank Insurance Fund reserve ratio'' means the ratio 
    of the net worth of the Bank Insurance Fund to the value of the 
    aggregate estimated insured deposits held in all Bank Insurance Fund 
    members.

        (7) Savings Association Insurance Fund reserve ratio

        The term ``Savings Association Insurance Fund reserve ratio'' 
    means the ratio of the net worth of the Savings Association 
    Insurance Fund to the value of the aggregate estimated insured 
    deposits held in all Savings Association Insurance Fund members.

(m) Secondary reserve offsets against premiums

         (1) Offsets in calendar years beginning before 1993

        Subject to the maximum amount limitation contained in paragraph 
    (2) and notwithstanding any other provision of law, any insured 
    savings association may offset such association's pro rata share of 
    the statutorily prescribed amount against any premium assessed 
    against such association under subsection (b) of this section for 
    any calendar year beginning before 1993.

                (2) Annual maximum amount limitation

        The amount of any offset allowed for any savings association 
    under paragraph (1) for any calendar year beginning before 1993 
    shall not exceed an amount which is equal to 20 percent of such 
    association's pro rata share of the statutorily prescribed amount 
    (as computed for such calendar year).

         (3) Offsets in calendar years beginning after 1992

        Notwithstanding any other provision of law, a savings 
    association may offset such association's pro rata share of the 
    statutorily prescribed amount against any premium assessed against 
    such association under subsection (b) of this section for any 
    calendar year beginning after 1992.

                         (4) Transferability

        No right, title, or interest of any insured depository 
    institution in or with respect to its pro rata share of the 
    secondary reserve shall be assignable or transferable whether by 
    operation of law or otherwise, except to the extent that the 
    Corporation may provide for transfer of such pro rata share in cases 
    of merger or consolidation, transfer of bulk assets or assumption of 
    liabilities, and similar transactions, as defined by the Corporation 
    for purposes of this paragraph.

     (5) Pro rata distribution on termination of insured status

        If--
            (A) the status of any savings association as an insured 
        depository institution is terminated pursuant to any provision 
        of section 1818 of this title or the insurance of accounts of 
        any such institution is otherwise terminated;
            (B) a receiver or other legal custodian is appointed for the 
        purpose of liquidation or winding up the affairs of any savings 
        association; or
            (C) the Corporation makes a determination that for the 
        purposes of this subsection any savings association has 
        otherwise gone into liquidation,

    the Corporation shall pay in cash to such institution its pro rata 
    share of the secondary reserve, in accordance with such terms and 
    conditions as the Corporation may prescribe, or, at the option of 
    the Corporation, the Corporation may apply the whole or any part of 
    the amount which would otherwise be paid in cash toward the payment 
    of any indebtedness or obligation, whether matured or not, of such 
    institution to the Corporation, existing or arising before such 
    payment in cash. Such payment or such application need not be made 
    to the extent that the provisions of the exception in paragraph (4) 
    are applicable.

            (6) ``Statutorily prescribed amount'' defined

        For purposes of this subsection, the term ``statutorily 
    prescribed amount'' means, with respect to any calendar year which 
    ends after August 9, 1989--
            (A) $823,705,000, minus
            (B) the sum of--
                (i) the aggregate amount of offsets made before August 
            9, 1989, by all insured institutions under section 404(e)(2) 
            \4\ of the National Housing Act [12 U.S.C. 1727(e)(2)] (as 
            in effect before August 9, 1989); and
---------------------------------------------------------------------------
    \4\ See References in Text note below.
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                (ii) the aggregate amount of offsets made by all savings 
            associations under this subsection before the beginning of 
            such calendar year.

              (7) Savings association's pro rata amount

        For purposes of this subsection, any savings association's pro 
    rata share of the statutorily prescribed amount is the percentage 
    which is equal to such association's share of the secondary reserve 
    as determined under section 404(e) \4\ of the National Housing Act 
    on the day before the date on which the Federal Savings and Loan 
    Insurance Corporation ceased to recognize the secondary reserve (as 
    such Act [12 U.S.C. 1701 et seq.] was in effect on the day before 
    such date).

                     (8) Year of enactment rule

        With respect to the calendar year in which the Financial 
    Institutions Reform, Recovery, and Enforcement Act of 1989 is 
    enacted, the Corporation shall make such adjustments as may be 
    necessary--
            (A) in the computation of the statutorily prescribed amount 
        which shall be applicable for the remainder of such calendar 
        year after taking into account the aggregate amount of offsets 
        by all insured institutions under section 404(e)(2) \4\ of the 
        National Housing Act [12 U.S.C. 1727(e)(2)] (as in effect before 
        August 9, 1989) after the beginning of such calendar year and 
        before August 9, 1989; and
            (B) in the computation of the maximum amount of any savings 
        association's offset for such calendar year under paragraph (1) 
        after taking into account--
                (i) the amount of any offset by such savings association 
            under section 404(e)(2) \4\ of the National Housing Act (as 
            in effect before August 9, 1989) after the beginning of such 
            calendar year and before August 9, 1989; and
                (ii) the change of such association's premium year from 
            the 1-year period applicable under section 404(b) \4\ of the 
            National Housing Act (as in effect before August 9, 1989) to 
            a calendar year basis.

(n) Collections on behalf of Director of Office of Thrift Supervision

    When requested by the Director of the Office of Thrift Supervision, 
the Corporation shall collect on behalf of the Director assessments on 
savings associations levied by the Director under section 1467 of this 
title. The Corporation shall be reimbursed for its actual costs for the 
collection of such assessments. Any such assessments by the Director 
shall be in addition to any amounts assessed by the Corporation, the 
Financing Corporation, and the Resolution Funding Corporation.

(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.)

                       References in Text

    For effective date of amendments made by section 302(a) of the 
Federal Deposit Insurance Corporation Improvement Act of 1991, referred 
to in subsec. (b)(2)(F), see section 302(g) of Pub. L. 102-242, set out 
as an Effective Date of 1991 Amendment note below.
    The Bank Enterprise Act of 1991, referred to in subsec. (b)(2)(H), 
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.
    Section 2704 of the Deposit Insurance Funds Act of 1996, referred to 
in subsec. (e)(2)(A)(i), is section 2704 of Pub. L. 104-208. For 
complete classification of this section to the Code, see section 2704(c) 
of Pub. L. 104-208, set out as an Effective Date of 1996 Amendment note 
under section 1821 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

    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 not executed. See Effective Date of 1996 
Amendment note below.
    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 not executed. 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 not executed. 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 not 
executed. 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 not executed. 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 not executed. 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 not executed. 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 not executed. See 
Effective Date of 1996 Amendment note below.
    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 not executed. See 
Effective Date of 1996 Amendment note below.
    Subsec. (b)(3). Pub. L. 104-208, Sec. 2704(d)(14)(G)(vii)(I), which 
directed substitution of ``fund'' for ``funds'' in heading, was not 
executed. See Effective Date of 1996 Amendment note below.
    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 not 
executed. See Effective Date of 1996 Amendment note below.
    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 not executed. See Effective Date of 1996 Amendment note 
below.
    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 not executed. See 
Effective Date of 1996 Amendment note below.
    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 not executed. See Effective Date of 
1996 Amendment note below.
    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 not executed. See 
Effective Date of 1996 Amendment note below.
    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 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, 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

    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.


                  Special Assessment To Capitalize SAIF

    Section 2702 of Pub. L. 104-208 provided that:
    ``(a) In General.--Except as provided in subsection (f), the Board 
of Directors of the Federal Deposit Insurance Corporation shall 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, in its sole discretion, determines (after taking into 
account the adjustments described in subsections (g), (h), and (j)) will 
cause the Savings Association Insurance Fund to achieve the designated 
reserve ratio on the first business day of the 1st month beginning after 
the date of the enactment of this Act [Sept. 30, 1996].
    ``(b) Factors To Be Considered.--In carrying out subsection (a), the 
Board of Directors shall base its determination on--
        ``(1) the monthly Savings Association Insurance Fund balance 
    most recently calculated;
        ``(2) data on insured deposits reported in the most recent 
    reports of condition filed not later than 70 days before the date of 
    enactment of this Act [Sept. 30, 1996] by insured depository 
    institutions; and
        ``(3) any other factors that the Board of Directors deems 
    appropriate.
    ``(c) Date of Determination.--For purposes of subsection (a), the 
amount of the SAIF-assessable deposits of an insured depository 
institution shall be determined as of March 31, 1995.
    ``(d) Date Payment Due.--Except as provided in subsection (g), the 
special assessment imposed under this section shall be--
        ``(1) due on the first business day of the 1st month beginning 
    after the date of the enactment of this Act [Sept. 30, 1996]; and
        ``(2) paid to the Corporation on the later of--
            ``(A) the first business day of the 1st month beginning 
        after such date of enactment; or
            ``(B) such other date as the Corporation shall prescribe, 
        but not later than 60 days after the date of enactment of this 
        Act.
    ``(e) Assessment Deposited in SAIF.--Notwithstanding any other 
provision of law, the proceeds of the special assessment imposed under 
this section shall be deposited in the Savings Association Insurance 
Fund.
    ``(f) Exemptions for Certain Institutions.--
        ``(1) Exemption for weak institutions.--The Board of Directors 
    may, by order, in its sole discretion, exempt any insured depository 
    institution that the Board of Directors determines to be weak, from 
    paying the special assessment imposed under this section if the 
    Board of Directors determines that the exemption would reduce risk 
    to the Savings Association Insurance Fund.
        ``(2) Guidelines required.--Not later than 30 days after the 
    date of enactment of this Act [Sept. 30, 1996], the Board of 
    Directors shall prescribe guidelines setting forth the criteria that 
    the Board of Directors will use in exempting institutions under 
    paragraph (1). Such guidelines shall be published in the Federal 
    Register.
        ``(3) Exemption for certain newly chartered and other defined 
    institutions.--
            ``(A) In general.--In addition to the institutions exempted 
        from paying the special assessment under paragraph (1), the 
        Board of Directors shall exempt any insured depository 
        institution from payment of the special assessment if the 
        institution--
                ``(i) was in existence on October 1, 1995, and held no 
            SAIF-assessable deposits before January 1, 1993;
                ``(ii) is a Federal savings bank which--
          ``(I) was established de novo in April 1994 in order to 
                acquire the deposits of a savings association which was 
                in default or in danger of default; and
          ``(II) received minority interim capital assistance from the 
                Resolution Trust Corporation under section 21A(w) of the 
                Federal Home Loan Bank Act [12 U.S.C. 1441a(w)] in 
                connection with the acquisition of any such savings 
                association; or
                ``(iii) is a savings association, the deposits of which 
            are insured by the Savings Association Insurance Fund, 
            which--
          ``(I) before January 1, 1987, was chartered as a Federal 
                savings bank insured by the Federal Savings and Loan 
                Insurance Corporation for the purpose of acquiring all 
                or substantially all of the assets and assuming all or 
                substantially all of the deposit liabilities of a 
                national bank in a transaction consummated after July 1, 
                1986; and
          ``(II) as of the date of that transaction, had assets of less 
                than $150,000,000.
            ``(B) Definition.--For purposes of this paragraph, an 
        institution shall be deemed to have held SAIF-assessable 
        deposits before January 1, 1993, if--
                ``(i) it directly held SAIF-assessable deposits before 
            that date; or
                ``(ii) it succeeded to, acquired, purchased, or 
            otherwise holds any SAIF-assessable deposits as of the date 
            of enactment of this Act [Sept. 30, 1996] that were SAIF-
            assessable deposits before January 1, 1993.
        ``(4) Exempt institutions required to pay assessments at former 
    rates.--
            ``(A) Payments to saif and dif.--Any insured depository 
        institution that the Board of Directors exempts under this 
        subsection from paying the special assessment imposed under this 
        section shall pay semiannual assessments--
                ``(i) during calendar years 1996, 1997, and 1998, into 
            the Savings Association Insurance Fund, based on SAIF-
            assessable deposits of that institution, at assessment rates 
            calculated under the schedule in effect for Savings 
            Association Insurance Fund members on June 30, 1995; and
                ``(ii) during calendar year 1999--
          ``(I) into the Deposit Insurance Fund, based on SAIF-
                assessable deposits of that institution as of December 
                31, 1998, at assessment rates calculated under the 
                schedule in effect for Savings Association Insurance 
                Fund members on June 30, 1995; or
          ``(II) in accordance with clause (i), if the Bank Insurance 
                Fund and the Savings Association Insurance Fund are not 
                merged into the Deposit Insurance Fund.
            ``(B) Optional pro rata payment of special assessment.--This 
        paragraph shall not apply with respect to any insured depository 
        institution (or successor insured depository institution) that 
        has paid, during any calendar year from 1997 through 1999, upon 
        such terms as the Corporation may announce, an amount equal to 
        the product of--
                ``(i) 16.7 percent of the special assessment that the 
            institution would have been required to pay under subsection 
            (a), if the Board of Directors had not exempted the 
            institution; and
                ``(ii) the number of full semiannual periods remaining 
            between the date of the payment and December 31, 1999.
    ``(g) Special Election for Certain Institutions Facing Hardship as a 
Result of the Special Assessment.--
        ``(1) Election authorized.--If--
            ``(A) an insured depository institution, or any depository 
        institution holding company which, directly or indirectly, 
        controls such institution, is subject to terms or covenants in 
        any debt obligation or preferred stock outstanding on September 
        13, 1995; and
            ``(B) the payment of the special assessment under subsection 
        (a) would pose a significant risk of causing such depository 
        institution or holding company to default or violate any such 
        term or covenant,
    the depository institution may elect, with the approval of the 
    Corporation, to pay such special assessment in accordance with 
    paragraphs (2) and (3) in lieu of paying such assessment in the 
    manner required under subsection (a).
        ``(2) 1st assessment.--An insured depository institution which 
    makes an election under paragraph (1) shall pay an assessment in an 
    amount equal to 50 percent of the amount of the special assessment 
    that would otherwise apply under subsection (a), by the date on 
    which such special assessment is payable under subsection (d).
        ``(3) 2d assessment.--An insured depository institution which 
    makes an election under paragraph (1) shall pay a 2d assessment, by 
    the date established by the Board of Directors in accordance with 
    paragraph (4), in an amount equal to the product of 51 percent of 
    the rate determined by the Board of Directors under subsection (a) 
    for determining the amount of the special assessment and the SAIF-
    assessable deposits of the institution on March 31, 1996, or such 
    other date in calendar year 1996 as the Board of Directors 
    determines to be appropriate.
        ``(4) Due date of 2d assessment.--The date established by the 
    Board of Directors for the payment of the assessment under paragraph 
    (3) by a depository institution shall be the earliest practicable 
    date which the Board of Directors determines to be appropriate, 
    which is at least 15 days after the date used by the Board of 
    Directors under paragraph (3).
        ``(5) Supplemental special assessment.--An insured depository 
    institution which makes an election under paragraph (1) shall pay a 
    supplemental special assessment, at the same time the payment under 
    paragraph (3) is made, in an amount equal to the product of--
            ``(A) 50 percent of the rate determined by the Board of 
        Directors under subsection (a) for determining the amount of the 
        special assessment; and
            ``(B) 95 percent of the amount by which the SAIF-assessable 
        deposits used by the Board of Directors for determining the 
        amount of the 1st assessment under paragraph (2) exceeds, if 
        any, the SAIF-assessable deposits used by the Board for 
        determining the amount of the 2d assessment under paragraph (3).
    ``(h) Adjustment of Special Assessment for Certain Bank Insurance 
Fund Member Banks.--
        ``(1) In general.--For purposes of computing the special 
    assessment imposed under this section with respect to a Bank 
    Insurance Fund member bank, the amount of any deposits of any 
    insured depository institution which section 5(d)(3) of the Federal 
    Deposit Insurance Act [12 U.S.C. 1815(d)(3)] treats as insured by 
    the Savings Association Insurance Fund shall be reduced by 20 
    percent--
            ``(A) if the adjusted attributable deposit amount of the 
        Bank Insurance Fund member bank is less than 50 percent of the 
        total domestic deposits of that member bank as of June 30, 1995; 
        or
            ``(B) if, as of June 30, 1995, the Bank Insurance Fund 
        member--
                ``(i) had an adjusted attributable deposit amount equal 
            to less than 75 percent of the total assessable deposits of 
            that member bank;
                ``(ii) had total assessable deposits greater than 
            $5,000,000,000; and
                ``(iii) was owned or controlled by a bank holding 
            company that owned or controlled insured depository 
            institutions having an aggregate amount of deposits insured 
            or treated as insured by the Bank Insurance Fund greater 
            than the aggregate amount of deposits insured or treated as 
            insured by the Savings Association Insurance Fund.
        ``(2) Adjusted attributable deposit amount.--For purposes of 
    this subsection, the `adjusted attributable deposit amount' shall be 
    determined in accordance with section 5(d)(3)(C) of the Federal 
    Deposit Insurance Act [12 U.S.C. 1815(d)(3)(C)].
    ``(i) Adjustment to the Adjusted Attributable Deposit Amount for 
Certain Bank Insurance Fund Member Banks.--[Amended section 1815(d)(3) 
of this title.]
    ``(j) Adjustment of Special Assessment for Certain Savings 
Associations.--
        ``(1) Special assessment reduction.--For purposes of computing 
    the special assessment imposed under this section, in the case of 
    any converted association, the amount of any deposits of such 
    association which were insured by the Savings Association Insurance 
    Fund as of March 31, 1995, shall be reduced by 20 percent.
        ``(2) Converted association.--For purposes of this subsection, 
    the term `converted association' means--
            ``(A) any Federal savings association--
                ``(i) that is a member of the Savings Association 
            Insurance Fund and that has deposits subject to assessment 
            by that fund which did not exceed $4,000,000,000, as of 
            March 31, 1995; and
                ``(ii) that had been, or is a successor by merger, 
            acquisition, or otherwise to an institution that had been, a 
            State savings bank, the deposits of which were insured by 
            the Federal Deposit Insurance Corporation before August 9, 
            1989, that converted to a Federal savings association 
            pursuant to section 5(i) of the Home Owners' Loan Act [12 
            U.S.C. 1464(i)] before January 1, 1985;
            ``(B) a State depository institution that is a member of the 
        Savings Association Insurance Fund that had been a State savings 
        bank before October 15, 1982, and was a Federal savings 
        association on August 9, 1989;
            ``(C) an insured bank that--
                ``(i) was established de novo in order to acquire the 
            deposits of a savings association in default or in danger of 
            default;
                ``(ii) did not open for business before acquiring the 
            deposits of such savings association; and
                ``(iii) was a Savings Association Insurance Fund member 
            before the date of enactment of this Act [Sept. 30, 1996]; 
            and
            ``(D) an insured bank that--
                ``(i) resulted from a savings association before 
            December 19, 1991, in accordance with section 5(d)(2)(G) of 
            the Federal Deposit Insurance Act [12 U.S.C. 1815(d)(2)(G)]; 
            and
                ``(ii) had an increase in its capital in conjunction 
            with the conversion in an amount equal to more than 75 
            percent of the capital of the institution on the day before 
            the date of the conversion.''


             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.

                  Section Referred to in Other Sections

    This section is referred to in sections 375a, 461, 1441, 1441b, 
1790a, 1813, 1815, 1818, 1821, 1821a, 1824, 1831i, 1834, 1834a, 1841 of 
this title; title 7 section 6f; title 15 sections 78o-5, 78q.



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