Page:United States Statutes at Large Volume 104 Part 2.djvu/423

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PUBLIC LAW 101-508 —NOV. 5, 1990 104 STAT. 1388-15 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.". (b) SAVINGS ASSOCIATION INSURANCE FUND. — Section 7(b)(l)(D) of the Federal Deposit Insurance Act (12 U.S.C. 1817(b)(l)(D)) is amended to read as follows: " (D) ASSESSMENT RATE FOR SAVINGS ASSOCIATION INSURANCE FUND MEMBERS.— "(i) IN GENERAL.—The assessment rate for Savings Association 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 Savings Association 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. "(iv) TRANSITION RULE.—Until December 31, 1997, the assessment rate for Savings Association Insurance Fund members shall not be less than the following: "(I) From January 1, 1990, through December 31, 1990, 0.208 percent. "(II) From January 1, 1991, through December 31, 1993, 0.23 percent. "(Ill) From January 1, 1994, through December 31, 1997, 0.18 percent.". (c) CLERICAL AMENDMENTS REFLECTING $1,000 MINIMUM ASSESS- MENT PROVISIONS OF CURRENT LAW. —Section 7(b)(2)(A) of the Federal Deposit Insurance Act (12 U.S.C. 1817(b)(2)(A)) is amended— (1) by inserting "or subparagraph (C)(iii) or (D)(iii) of subsection (b)(D" after "subsection (c)(2)"; and (2) in clauses (i) and (ii), by inserting "the greater of $500 or an amount" before "equal to the product of. SEC. 2003. FDIC AUTHORIZED TO MAKE MID-YEAR ADJUSTMENTS IN ASSESSMENT RATES. (a) ASSESSMENT RATES.— Section 7(b)(l)(A) of the Federal Deposit Insurance Act (12 U.S.C. 1817(b)(l)(A)) is amended to read as follows: "(A) ASSESSMENT RATES PRESCRIBED.— "(i) AUTHORITY TO SET RATES. — Subject to clause (iii), the Corporation shall set assessment rates for insured depository institutions at such times as the Corporation, in its sole discretion, determines to be appropriate.