§ 1820. — Administration of Corporation.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 12USC1820]
TITLE 12--BANKS AND BANKING
CHAPTER 16--FEDERAL DEPOSIT INSURANCE CORPORATION
Sec. 1820. Administration of Corporation
(a) Board of Directors; use of mails; cooperation with other Federal
agencies
The Board of Directors shall administer the affairs of the
Corporation fairly and impartially and without discrimination. The Board
of Directors of the Corporation shall determine and prescribe the manner
in which its obligations shall be incurred and its expenses allowed and
paid. The Corporation shall be entitled to the free use of the United
States mails in the same manner as the executive departments of the
Government. The Corporation with the consent of any Federal Reserve bank
or of any board, commission, independent establishment, or executive
department of the Government, including any field service thereof, may
avail itself of the use of information, services, and facilities thereof
in carrying out the provisions of this chapter.
(b) Examinations
(1) Appointment of examiners and claims agents
The Board of Directors shall appoint examiners and claims
agents.
(2) Regular examinations
Any examiner appointed under paragraph (1) shall have power, on
behalf of the Corporation, to examine--
(A) any insured State nonmember bank (except a District
bank) or insured State branch of any foreign bank;
(B) any depository institution which files an application
with the Corporation to become an insured depository
institution; and
(C) any insured depository institution in default,
whenever the Board of Directors determines an examination of any
such depository institution is necessary.
(3) Special examination of any insured depository
institution
In addition to the examinations authorized under paragraph (2),
any examiner appointed under paragraph (1) shall have power, on
behalf of the Corporation, to make any special examination of any
insured depository institution whenever the Board of Directors
determines a special examination of any such depository institution
is necessary to determine the condition of such depository
institution for insurance purposes.
(4) Examination of affiliates
(A) In general
In making any examination under paragraph (2) or (3), any
examiner appointed under paragraph (1) shall have power, on
behalf of the Corporation, to make such examinations of the
affairs of any affiliate of any depository institution as may be
necessary to disclose fully--
(i) the relationship between such depository institution
and any such affiliate; and
(ii) the effect of such relationship on the depository
institution.
(B) Commitment by foreign banks to allow examinations of
affiliates
No branch or depository institution subsidiary of a foreign
bank may become an insured depository institution unless such
foreign bank submits a written binding commitment to the Board
of Directors to permit any examination of any affiliate of such
branch or depository institution subsidiary pursuant to
subparagraph (A) to the extent determined by the Board of
Directors to be necessary to carry out the purposes of this
chapter.
(5) Examination of insured State branches
The Board of Directors shall--
(A) coordinate examinations of insured State branches of
foreign banks with examinations conducted by the Board of
Governors of the Federal Reserve System under section 3105(c)(1)
of this title; and
(B) to the extent possible, participate in any simultaneous
examination of the United States operations of a foreign bank
requested by the Board under such section.
(6) Power and duty of examiners
Each examiner appointed under paragraph (1) shall--
(A) have power to make a thorough examination of any insured
depository institution or affiliate under paragraph (2), (3),
(4), or (5); and
(B) shall make a full and detailed report of condition of
any insured depository institution or affiliate examined to the
Corporation.
(7) Power of claim agents
Each claim agent appointed under paragraph (1) shall have power
to investigate and examine all claims for insured deposits.
(c) Administration of oaths and affirmations; evidence; subpena powers
In connection with examinations of insured depository institutions
and any State nonmember bank, savings association, or other institution
making application to become insured depository institutions, and
affiliates thereof, or with other types of investigations to determine
compliance with applicable law and regulations, the appropriate Federal
banking agency, or its designated representatives, are authorized to
administer oaths and affirmations, and to examine and to take and
preserve testimony under oath as to any matter in respect to the affairs
or ownership of any such bank or institution or affiliate thereof, and
to exercise such other powers as are set forth in section 1818(n) of
this title.
(d) Annual on-site examinations of all insured depository institutions
required
(1) In general
The appropriate Federal banking agency shall, not less than once
during each 12-month period, conduct a full-scope, on-site
examination of each insured depository institution.
(2) Examinations by Corporation
Paragraph (1) shall not apply during any 12-month period in
which the Corporation has conducted a full-scope, on-site
examination of the insured depository institution.
(3) State examinations acceptable
The examinations required by paragraph (1) may be conducted in
alternate 12-month periods, as appropriate, if the appropriate
Federal banking agency determines that an examination of the insured
depository institution conducted by the State during the intervening
12-month period carries out the purpose of this subsection.
(4) 18-month rule for certain small institutions
Paragraphs (1), (2), and (3) shall apply with ``18-month''
substituted for ``12-month'' if--
(A) the insured depository institution has total assets of
less than $250,000,000;
(B) the institution is well capitalized, as defined in
section 1831o of this title;
(C) when the institution was most recently examined, it was
found to be well managed, and its composite condition--
(i) was found to be outstanding; or
(ii) was found to be outstanding or good, in the case of
an insured depository institution that has total assets of
not more than $100,000,000;
(D) the insured institution is not currently subject to a
formal enforcement proceeding or order by the Corporation or the
appropriate Federal banking agency; and
(E) no person acquired control of the institution during the
12-month period in which a full-scope, on-site examination would
be required but for this paragraph.
(5) Certain Government-controlled institutions exempted
Paragraph (1) does not apply to--
(A) any institution for which the Corporation or the
Resolution Trust Corporation is conservator; or
(B) any bridge bank, none of the voting securities of which
are owned by a person or agency other than the Corporation or
the Resolution Trust Corporation.
(6) Coordinated examinations
To minimize the disruptive effects of examinations on the
operations of insured depository institutions--
(A) each appropriate Federal banking agency shall, to the
extent practicable and consistent with principles of safety and
soundness and the public interest--
(i) coordinate examinations to be conducted by that
agency at an insured depository institution and its
affiliates;
(ii) coordinate with the other appropriate Federal
banking agencies in the conduct of such examinations;
(iii) work to coordinate with the appropriate State bank
supervisor--
(I) the conduct of all examinations made pursuant to
this subsection; and
(II) the number, types, and frequency of reports
required to be submitted to such agencies and
supervisors by insured depository institutions, and the
type and amount of information required to be included
in such reports; and
(iv) use copies of reports of examinations of insured
depository institutions made by any other Federal banking
agency or appropriate State bank supervisor to eliminate
duplicative requests for information; and
(B) not later than 2 years after September 23, 1994, the
Federal banking agencies shall jointly establish and implement a
system for determining which one of the Federal banking agencies
or State bank supervisors shall be the lead agency responsible
for managing a unified examination of each insured depository
institution and its affiliates, as required by this subsection.
(7) Separate examinations permitted
Notwithstanding paragraph (6), each appropriate Federal banking
agency may conduct a separate examination in an emergency or under
other exigent circumstances, or when the agency believes that a
violation of law may have occurred.
(8) Report
At the time the system provided for in paragraph (6) is
established, the Federal banking agencies shall submit a joint
report describing the system to the Committee on Banking, Housing,
and Urban Affairs of the Senate and the Committee on Banking,
Finance and Urban Affairs of the House of Representatives.
Thereafter, the Federal banking agencies shall annually submit a
joint report to the Committee on Banking, Housing, and Urban Affairs
of the Senate and the Committee on Banking, Finance and Urban
Affairs of the House of Representatives regarding the progress of
the agencies in implementing the system and indicating areas in
which enhancements to the system, including legislature
improvements, would be appropriate.
(9) Standards for determining adequacy of State examinations
The Federal Financial Institutions Examination Council shall
issue guidelines establishing standards to be used at the discretion
of the appropriate Federal banking agency for purposes of making a
determination under paragraph (3).
(10) Agencies authorized to increase maximum asset amount of
institutions for certain purposes
At any time after the end of the 2-year period beginning on
September 23, 1994, the appropriate Federal banking agency, in the
agency's discretion, may increase the maximum amount limitation
contained in paragraph (4)(C)(ii), by regulation, from $100,000,000
to an amount not to exceed $250,000,000 for purposes of such
paragraph, if the agency determines that the greater amount would be
consistent with the principles of safety and soundness for insured
depository institutions.
(e) Examination fees
(1) Regular and special examinations of depository
institutions
The cost of conducting any regular examination or special
examination of any depository institution under subsection (b)(2),
(b)(3), or (d) of this section may be assessed by the Corporation
against the institution to meet the Corporation's expenses in
carrying out such examinations.
(2) Examination of affiliates
The cost of conducting any examination of any affiliate of any
insured depository institution under subsection (b)(4) of this
section may be assessed by the Corporation against each affiliate
which is examined to meet the Corporation's expenses in carrying out
such examination.
(3) Assessment against depository institution in case of
affiliate's refusal to pay
(A) In general
Subject to subparagraph (B), if any affiliate of any insured
depository institution--
(i) refuses to pay any assessment under paragraph (2);
or
(ii) fails to pay any such assessment before the end of
the 60-day period beginning on the date the affiliate
receives notice of the assessment,
the Corporation may assess such cost against, and collect such
cost from, the depository institution.
(B) Affiliate of more than 1 depository institution
If any affiliate referred to in subparagraph (A) is an
affiliate of more than 1 insured depository institution, the
assessment under subparagraph (A) may be assessed against the
depository institutions in such proportions as the Corporation
determines to be appropriate.
(4) Civil money penalty for affiliate's refusal to cooperate
(A) Penalty imposed
If any affiliate of any insured depository institution--
(i) refuses to permit an examiner appointed by the Board
of Directors under subsection (b)(1) of this section to
conduct an examination; or
(ii) refuses to provide any information required to be
disclosed in the course of any examination,
the depository institution shall forfeit and pay a penalty of
not more than $5,000 for each day that any such refusal
continues.
(B) Assessment and collection
Any penalty imposed under subparagraph (A) shall be assessed
and collected by the Corporation in the manner provided in
section 1818(i)(2) of this title.
(5) Deposits of examination assessment
Amounts received by the Corporation under this subsection (other
than paragraph (4)) may be deposited in the manner provided in
section 1823 of this title.
(f) Preservation of records by photography; admissibility as evidence
The Corporation may cause any and all records, papers, or documents
kept by it or in its possession or custody to be photographed or
microphotographed or otherwise reproduced upon film, which photographic
film shall comply with the minimum standards of quality approved for
permanent photographic records by the National Institute of Standards
and Technology. Such photographs, microphotographs, or photographic film
or copies thereof shall be deemed to be an original record for all
purposes, including introduction in evidence in all State and Federal
courts or administrative agencies and shall be admissible to prove any
act, transaction, occurrence, or event therein recorded. Such
photographs, microphotographs, or reproduction shall be preserved in
such manner as the Board of Directors of the Corporation shall prescribe
and the original records, papers, or documents may be destroyed or
otherwise disposed of as the Board shall direct.
(g) Authority to prescribe regulations and definitions
Except to the extent that authority under this chapter is conferred
on any of the Federal banking agencies other than the Corporation, the
Corporation may--
(1) prescribe regulations to carry out this chapter; and
(2) by regulation define terms as necessary to carry out this
chapter.
(h) Coordination of examination authority
(1) In general
The appropriate State bank supervisor of a host State may
examine a branch operated in such State by an out-of-State insured
State bank that resulted from an interstate merger transaction
approved under section 1831u of this title or a branch established
in such State pursuant to section 36(g) of this title or section
1828(d)(4) of this title--
(A) for the purpose of determining compliance with host
State laws, including those that govern banking, community
reinvestment, fair lending, consumer protection, and permissible
activities; and
(B) to ensure that the activities of the branch are not
conducted in an unsafe or unsound manner.
(2) Enforcement
If the State bank supervisor of a host State determines that
there is a violation of the law of the host State concerning the
activities being conducted by a branch described in paragraph (1) or
that the branch is being operated in an unsafe and unsound manner,
the State bank supervisor of the host State or, to the extent
authorized by the law of the host State, a State law enforcement
officer may undertake such enforcement actions and proceedings as
would be permitted under the law of the host State as if the branch
were a bank chartered by that host State.
(3) Cooperative agreement
The State bank supervisors from 2 or more States may enter into
cooperative agreements to facilitate State regulatory supervision of
State banks, including cooperative agreements relating to the
coordination of examinations and joint participation in
examinations.
(4) Federal regulatory authority
No provision of this subsection shall be construed as limiting
in any way the authority of an appropriate Federal banking agency to
examine or to take any enforcement actions or proceedings against
any bank or branch of a bank for which the agency is the appropriate
Federal banking agency.
(i) Flood insurance compliance by insured depository institutions
(1) Examinations
The appropriate Federal banking agency shall, during each
scheduled on-site examination required by this section, determine
whether the insured depository institution is complying with the
requirements of the national flood insurance program.
(2) Report
(A) Requirement
Not later than 1 year after September 23, 1994, and
biennially thereafter for the next 4 years, each appropriate
Federal banking agency shall submit a report to the Congress on
compliance by insured depository institutions with the
requirements of the national flood insurance program.
(B) Contents
Each report submitted under this paragraph shall include a
description of the methods used to determine compliance, the
number of institutions examined during the reporting year, a
listing and total number of institutions found not to be in
compliance, actions taken to correct incidents of noncompliance,
and an analysis of compliance, including a discussion of any
trends, patterns, and problems, and recommendations regarding
reasonable actions to improve the efficiency of the examinations
processes.
(j) Consultation among examiners
(1) In general
Each appropriate Federal banking agency shall take such action
as may be necessary to ensure that examiners employed by the
agency--
(A) consult on examination activities with respect to any
depository institution; and
(B) achieve an agreement and resolve any inconsistencies in
the recommendations to be given to such institution as a
consequence of any examinations.
(2) Examiner-in-charge
Each appropriate Federal banking agency shall consider
appointing an examiner-in-charge with respect to a depository
institution to ensure consultation on examination activities among
all of the examiners of that agency involved in examinations of the
institution.
(Sept. 21, 1950, ch. 967, Sec. 2[10], 64 Stat. 882; Pub. L. 86-671,
Sec. 4, July 14, 1960, 74 Stat. 551; Pub. L. 89-695, title II, Sec. 203,
Oct. 16, 1966, 80 Stat. 1053; Pub. L. 91-452, title II, Sec. 208, Oct.
15, 1970, 84 Stat. 929; Pub. L. 95-369, Sec. 6(c)(16), Sept. 17, 1978,
92 Stat. 619; Pub. L. 95-630, title III, Sec. 305, Nov. 10, 1978, 92
Stat. 3677; Pub. L. 97-320, title I, Sec. 113(i), title IV, Sec. 410(g),
Oct. 15, 1982, 96 Stat. 1474, 1520; Pub. L. 100-418, title V,
Sec. 5115(c), Aug. 23, 1988, 102 Stat. 1433; Pub. L. 101-73, title II,
Secs. 201(a), 210, Aug. 9, 1989, 103 Stat. 187, 217; Pub. L. 102-242,
title I, Secs. 111(a), 113(a), (b), (c)(2), title II, Sec. 203(c), title
III, Sec. 302(d), Dec. 19, 1991, 105 Stat. 2240, 2246-2248, 2292, 2349;
Pub. L. 102-550, title XVI, Secs. 1603(b)(1), (4), 1604(a)(3),
1605(a)(4), Oct. 28, 1992, 106 Stat. 4078, 4079, 4082, 4085; Pub. L.
102-558, title III, Secs. 303(b)(5), 305, Oct. 28, 1992, 106 Stat. 4225,
4226; Pub. L. 103-325, title III, Secs. 305(a), 306, 349(a), title V,
Sec. 529(a), title VI, Sec. 602(a)(19), (20), Sept. 23, 1994, 108 Stat.
2216, 2217, 2242, 2266, 2289; Pub. L. 103-328, title I, Sec. 105, Sept.
29, 1994, 108 Stat. 2357; Pub. L. 104-208, div. A, title II, Secs. 2221,
2244, Sept. 30, 1996, 110 Stat. 3009-414, 3009-419.)
Prior Provisions
Subsecs. (a), (b), [former] (e), and [former] (f) are derived from
subsec. (k) of former section 264 of this title. See Codification note
set out under section 1811 of this title.
Amendments
1996--Subsec. (d)(6)(B). Pub. L. 104-208, Sec. 2244(b), which
directed insertion of ``or State bank supervisors'' after ``one of the
Federal agencies'', was executed by making the insertion after ``one of
the Federal banking agencies'' to reflect the probable intent of
Congress.
Subsec. (d)(8). Pub. L. 104-208, Sec. 2221(1), redesignated par.
(8), relating to agencies authorized to increase maximum asset amount of
institutions for certain purposes, as (10).
Subsec. (d)(10). Pub. L. 104-208, Sec. 2221(2), substituted
``$250,000,000'' for ``$175,000,000''.
Pub. L. 104-208, Sec. 2221(1), redesignated par. (8), relating to
agencies authorized to increase maximum asset amount of institutions for
certain purposes, as (10).
Subsec. (j). Pub. L. 104-208, Sec. 2244(a), added subsec. (j).
1994--Subsec. (b)(1). Pub. L. 103-325, Sec. 602(a)(19), substituted
``claims'' for ``claim''.
Subsec. (b)(2)(B). Pub. L. 103-325, Sec. 602(a)(20), inserted
``and'' at end.
Subsec. (d)(4)(A). Pub. L. 103-325, Sec. 306(a)(1), substituted
``$250,000,000'' for ``$100,000,000''.
Subsec. (d)(4)(C). Pub. L. 103-325, Sec. 306(a)(2), substituted
``and its composite condition--
``(i) was found to be outstanding; or
``(ii) was found to be outstanding or good, in the case of an
insured depository institution that has total assets of not more
than $100,000,000;''
for ``and its composite condition was found to be outstanding; and''.
Subsec. (d)(4)(D), (E). Pub. L. 103-325, Sec. 306(a)(3), (4), added
subpar. (D) and redesignated former subpar. (D) as (E).
Subsec. (d)(6), (7). Pub. L. 103-325, Sec. 305(a), added pars. (6)
and (7).
Subsec. (d)(8). Pub. L. 103-325, Sec. 306(b), added par. (8)
relating to agencies authorized to increase maximum asset amount of
institutions for certain purposes.
Pub. L. 103-325, Sec. 305(a), added par. (8) relating to report
requirements.
Subsec. (d)(9). Pub. L. 103-325, Sec. 349(a), added par. (9).
Subsec. (h). Pub. L. 103-328 added subsec. (h).
Subsec. (i). Pub. L. 103-325, Sec. 529(a), added subsec. (i).
1992--Subsec. (b)(6)(A). Pub. L. 102-550, Sec. 1604(a)(3),
substituted ``paragraph (2), (3), (4), or (5);'' for `` `paragraph (2)'
and all that follows through the semicolon'' resulting in no change in
text.
Subsec. (d)(5). Pub. L. 102-550, Sec. 1603(b)(1)(A), (B), inserted
``or the Resolution Trust Corporation'' in subpars. (A) and (B) and
inserted a comma after ``bank'' in subpar. (B).
Subsec. (d)(6). Pub. L. 102-550, Sec. 1603(b)(1)(C), struck out par.
(6) which read as follows: ``(6) Consumer compliance examinations
excluded.--For purposes of this subsection, the term `full-scope, on-
site examination' does not include a consumer compliance examination, as
defined in section 41(b).''
Subsec. (e). Pub. L. 102-550, Sec. 1603(b)(4), amended directory
language of Pub. L. 102-242, Sec. 113(a)(2). See 1991 Amendment note
below.
Subsec. (g). Pub. L. 102-558, Sec. 303(b)(5), redesignated subsec.
(f), relating to authority to prescribe regulations and definitions, as
(g). Pub. L. 102-550, Sec. 1605(a)(4), 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. (b)(2)(B). Pub. L. 102-242, Sec. 113(b), amended
subpar. (B) generally. Prior to amendment, subpar. (B) read as follows:
``any savings association, State nonmember bank, or State branch of a
foreign bank, or other depository institution which files an application
with the Corporation to become an insured depository institution; and''.
Subsec. (b)(4)(A). Pub. L. 102-242, Sec. 113(c)(2), struck out
``insured'' before ``depository institution'' in three places.
Subsec. (b)(5) to (7). Pub. L. 102-242, Sec. 203(c), added par. (5),
redesignated former par. (5) as (6) and substituted ``(4), or (5)'' for
``or (4)'', and redesignated former par. (6) as (7).
Subsec. (d). Pub. L. 102-242, Sec. 111(a), added subsec. (d).
Subsec. (e). Pub. L. 102-242, Sec. 113(a)(2), as amended by Pub. L.
102-550, Sec. 1603(b)(4), added subsec. (e). Former subsec. (e)
redesignated (f).
Subsec. (f). Pub. L. 102-242, Sec. 302(d), added subsec. (f)
relating to authority to prescribe regulations and definitions.
Pub. L. 102-242, Sec. 113(a)(1), redesignated subsec. (e), relating
to preservation of records by photography, as (f).
1989--Subsec. (b). Pub. L. 101-73, Sec. 210(a), amended subsec. (b)
generally, revising and restating as pars. (1) to (6) provisions
formerly contained in a single unnumbered paragraph.
Subsec. (c). Pub. L. 101-73, Sec. 210(b)(1), substituted ``and any
State nonmember bank, savings association, or other institution'' for
``, State nonmember banks or other institutions''.
Pub. L. 101-73, Sec. 201(a), substituted ``insured depository
institutions'' for ``insured banks'' wherever appearing.
Subsec. (d). Pub. L. 101-73, Sec. 210(b)(2), struck out subsec. (d)
which defined ``affiliate'' and ``member bank'' for purposes of this
section.
1988--Subsec. (e). Pub. L. 100-418 substituted ``National Institute
of Standards and Technology'' for ``National Bureau of Standards''.
1982--Subsec. (b). Pub. L. 97-320, Sec. 113(i), inserted ``or any
insured Federal savings bank,'' after ``foreign bank, or District
bank,''.
Subsec. (d). Pub. L. 97-320, Sec. 410(g), inserted ``as in section
221a(b) of this title and''.
1978--Subsec. (b). Pub. L. 95-630, Sec. 305(a), inserted ``or other
institution'' after ``any State nonmember bank'' and struck out
provisions that each claim agent have power to administer oaths and
affirmations and to examine and to take and preserve testimony under
oath as to any matter in respect to claims for insured deposits, and to
issue subpenas and subpenas duces tecum, and, for the enforcement
thereof, to apply to the United States district court for the judicial
district or the United States court in any territory in which the main
office of the bank or affiliate thereof is located, or in which the
witness resides or carriers on business and that such courts have
jurisdiction and power to order and require compliance with any such
subpena.
Pub. L. 95-369 inserted ``any insured State branch of a foreign
bank, any State branch of a foreign bank making application to become an
insured bank'' after ``(except a District bank)'', inserted ``or
branch'' after ``and any closed insured bank'', substituted ``any
national bank, insured Federal branch of a foreign bank, or District
bank'' for ``any national bank or District bank'' and inserted ``and in
the case of a foreign bank, a binding commitment by such bank to permit
such examination to the extent determined by the Board of Directors to
be necessary to carry out the purposes of this chapter shall be required
as a condition to the insurance of any deposits'' after ``effect of such
relations upon such banks''.
Subsec. (c). Pub. L. 95-630, Sec. 305(b), among other changes,
inserted references to State nonmember banks, other institutions making
application to become insured banks, and investigations to determine
compliance with applicable law and regulations and struck out provisions
defining ``affiliate'' and ``member bank''.
Subsec. (d). Pub. L. 95-630, Sec. 305(b), substituted provisions
defining the terms ``affiliate'' and ``member bank'' for provisions
relating to the enforcement of subpenas and orders.
1970--Subsec. (d). Pub. L. 91-452 struck out provisions which
granted immunity from prosecution for any individual compelled to
testify or produce evidence, documentary or otherwise, after claiming
his privilege against self-incrimination.
1966--Subsec. (b). Pub. L. 89-695 empowered Corporation examiners
making examinations of insured banks to make such examinations of the
affairs of all affiliates of such banks as shall be necessary to
disclose fully the relations between such banks and their affiliates and
the effect of such relations upon such banks, authorized Corporation
claim agents to issue subpenas and subpenas duces tecum in connection
with investigation and examination of claims for insured deposits and to
apply to the proper United States district court for the enforcement of
such subpenas and provided such courts with jurisdiction and power to
order and require compliance with any such subpena.
Subsec. (c). Pub. L. 89-695 provided that in connection with
examinations of insured banks and affiliates thereof, the appropriate
Federal banking agency, or its designated representatives, could
administer oaths and affirmations, take and preserve testimony under
oath as to any matter in respect of the affairs or ownership of such
bank or affiliate thereof, issue subpenas and subpenas duces tecum, and
apply to the proper United States district court for the enforcement of
such subpenas, provided such courts with jurisdiction and power to order
and require compliance with any such subpena, and defined ``affiliate''
and ``member bank''.
1960--Subsecs. (e) to (g). Pub. L. 86-671 struck out subsecs. (e)
and (f) which related to reports of condition by insured nonmember State
banks and access by Corporation to information of other bank supervisory
authorities, and redesignated subsec. (g) as (e). See section 1817(a)(1)
and (2) of this title.
Change of Name
Committee on Banking, Finance and Urban Affairs of House of
Representatives treated as referring to Committee on Banking and
Financial Services of House of Representatives by section 1(a) of Pub.
L. 104-14, set out as a note preceding section 21 of Title 2, The
Congress. Committee on Banking and Financial Services of House of
Representatives abolished and replaced by Committee on Financial
Services of House of Representatives, and jurisdiction over matters
relating to securities and exchanges and insurance generally transferred
from Committee on Energy and Commerce of House of Representatives by
House Resolution No. 5, One Hundred Seventh Congress, Jan. 3, 2001.
Effective Date of 1992 Amendments
Amendment by section 303(b)(5) 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.
Amendment by 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 111(b) of Pub. L. 102-242 provided that: ``The amendment
made by subsection (a) [amending this section] shall become effective 1
year after the date of enactment of this Act [Dec. 19, 1991].''
Amendment by section 302(d) of Pub. L. 102-242 effective on earlier
of 180 days after date on which final regulations promulgated in
accordance with section 302(c) of Pub. L. 102-242, set out as a note
under section 1817 of this title, become effective or Jan. 1, 1994, see
section 302(g) of Pub. L. 102-242, set out as a note under section 1817
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 1970 Amendment
Amendment by Pub. L. 91-452 effective on sixtieth day following Oct.
15, 1970, not to affect any immunity to which any individual is entitled
under this section by reason of any testimony given before sixtieth day
following Oct. 15, 1970, see section 260 of Pub. L. 91-452, set out as
an Effective Date; Savings Provision note under section 6001 of Title
18, Crimes and Criminal Procedure.
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 sections 1464, 1730,
1813, 1817 to 1820 and 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
Amendment by Pub. L. 86-671 effective Jan. 1, 1961, see section 7 of
Pub. L. 86-671, set out as a note under section 1817 of this title.
Effective Date of Initial Guidelines
Section 349(b) of Pub. L. 103-325 provided that: ``The initial
guidelines required to be issued pursuant to the amendment made by
subsection (a) [amending this section] shall become effective not later
than 1 year after the date of enactment of this Act [Sept. 23, 1994].''
Transition Rule
Section 111(c) of Pub. L. 102-242 provided that: ``Notwithstanding
section 10(d) of the Federal Deposit Insurance Act [12 U.S.C. 1820(d)]
(as added by subsection (a)), during the period beginning on the date of
enactment of this Act [Dec. 19, 1991] and ending on December 31, 1993, a
full-scope, on-site examination of an insured depository institution is
not required more often than once during every 18-month period, unless--
``(1) the institution, when most recently examined, was found to
be in a less than satisfactory condition; or
``(2) 1 or more persons acquired control of the institution.''
Conditions Governing Employment of Personnel Not Repealed, Modified, or
Affected
Nothing contained in section 203 of Pub. L. 89-695 amending subsecs.
(b) and (c) of 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 1464, 1820a, 1821, 1831v,
4204, 4224 of this title.
