Page:United States Statutes at Large Volume 110 Part 4.djvu/651

This page needs to be proofread.


PUBLIC LAW 104-208—SEPT. 30, 1996 110 STAT. 3009 -488 to the Deposit Insurance Fund, for the purposes set forth in paragraph (4), only if— "(i) the reserve ratio of the Deposit Insurance Fund is less than 50 percent of the designated reserve ratio; and "(ii) the Corporation expects the reserve ratio of the Deposit Insurance Fund to remain at less than 50 percent of the designated reserve ratio for each of the next 4 calendar quarters. "(C) EXCLUSION OF SPECIAL RESERVE IN CALCULATING RESERVE RATIO.— Notwithstanding any other provision of law, any amounts in the Special Reserve shall be excluded in calculating the reserve ratio of the Deposit Insurance Fund under section 7.". (5) FEDERAL HOME LOAN BANK ACT.— Section 21B(f)(2)(C)(ii) of the Federal Home Loan Bank Act (12 U.S.C. 1441b(f)(2)(C)(ii)) is amended— (A) in subclause (I), by striking "to Savings Associations Insurance Fund members" and inserting "to insured depository institutions, and their successors, which were Savings Association Insurance Fund members on September 1, 1995"; and (B) in subclause (II), by striking "to Savings Associations Insurance Fund members" and inserting "to insured depository institutions, and their successors, which were Savings Association Insurance Fund members on September 1, 1995". (6) REPEALS. — (A) SECTION 3.— Section 3(y) of the Federal Deposit Insurance Act (12 U.S.C. 1813(y)) is amended to read as follows: "(y) DEFINITIONS RELATING TO THE DEPOSIT INSURANCE FUND. — "(1) DEPOSIT INSURANCE FUND. —The term 'Deposit Insurance Fund' means the fund established under section 11(a)(4). "(2) RESERVE RATIO. — The term 'reserve ratio' means the ratio of the net worth of the Deposit Insurance Fund to aggregate estimated insured deposits held in all insured depository institutions. "(3) DESIGNATED RESERVE RATIO.— The designated reserve ratio of the Deposit Insurance Fund for each year shall be— "(A) 1.25 percent of estimated insured deposits; or "(B) 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 fiiture losses to the fund." (B) SECTION?. —Section 7 of the Federal Deposit Insurance Act (12 U.S.C. 1817) is amended— (i) by striking subsection (l); (ii) by redesignating subsections (m) and (n) as subsections (/) and (m), respectively; (iii) in subsection (b)(2), by striking subparagraphs (B) and (F), and by redesignating subparagraphs (C), (E), (G), and (H) as subparagraphs (B) through (E), respectively. (C) SECTION ii.— Section 11(a) of the Federal Deposit Insurance Act (12 U.S.C. 1821(a)) is amended— (i) by striking paragraphs (6) and (7); and