Page:United States Statutes at Large Volume 124.djvu/1465

124 STAT. 1439 PUBLIC LAW 111–203—JULY 21, 2010 165(a) of the Financial Stability Act of 2010, whenever the Board of Directors determines that a special examination of any such depository institution is necessary to determine the condition of such depository institution for insurance purposes, or of such nonbank financial company supervised by the Board of Governors or bank holding company described in section 165(a) of the Financial Stability Act of 2010, for the purpose of implementing its authority to provide for orderly liquidation of any such company under title II of that Act, provided that such authority may not be used with respect to any such company that is in a generally sound condition. ‘‘(B) LIMITATION.—Before conducting a special exam- ination of a nonbank financial company supervised by the Board of Governors or a bank holding company described in section 165(a) of the Financial Stability Act of 2010, the Corporation shall review any available and acceptable resolution plan that the company has submitted in accord- ance with section 165(d) of that Act, consistent with the nonbinding effect of such plan, and available reports of examination, and shall coordinate to the maximum extent practicable with the Board of Governors, in order to mini- mize duplicative or conflicting examinations.’’. (b) ENFORCEMENT AUTHORITY.—Section 8(t) of the Federal Deposit Insurance Act (12 U.S.C. 1818(t)) is amended— (1) in paragraph (1), by inserting ‘‘, any depository institu- tion holding company,’’ before ‘‘or any institution-affiliated party’’; (2) in paragraph (2)— (A) by striking ‘‘or’’ at the end of subparagraph (B); (B) at the end of subparagraph (C), by striking the period and inserting ‘‘or’’; and (C) by inserting at the end the following new subpara- graph: ‘‘(D) the conduct or threatened conduct (including any acts or omissions) of the depository institution holding com- pany poses a risk to the Deposit Insurance Fund, provided that such authority may not be used with respect to a depository institution holding company that is in generally sound condition and whose conduct does not pose a foresee- able and material risk of loss to the Deposit Insurance Fund;’’; and (3) by adding at the end the following: ‘‘(6) POWERS AND DUTIES WITH RESPECT TO DEPOSITORY INSTITUTION HOLDING COMPANIES.—For purposes of exercising the backup authority provided in this subsection— ‘‘(A) the Corporation shall have the same powers with respect to a depository institution holding company and its affiliates as the appropriate Federal banking agency has with respect to the holding company and its affiliates; and ‘‘(B) the holding company and its affiliates shall have the same duties and obligations with respect to the Cor- poration as the holding company and its affiliates have with respect to the appropriate Federal banking agency.’’. (c) RULE OF CONSTRUCTION.—Nothing in this Act shall be con- strued to limit or curtail the Corporation’s current authority to 12 USC 5372. Review.