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8000 - Miscellaneous Statutes and Regulations


TITLE III—REGULATORY IMPROVEMENT


Subtitle A--Activities

SEC. 305. IMPROVING CAPITAL STANDARDS.

(b)  REVIEW OF RISK-BASED CAPITAL STANDARDS.--

(1)  IN GENERAL.--Each appropriate Federal banking agency shall revise its risk-based capital standards for insured depository institutions to ensure that those standards--

(A)  take adequate account of--

(i)  interest-rate risk;

(ii)  concentration of credit risk; and

(iii)  the risks of nontraditional activities; and

(B)  reflect the actual performance and expected risk of loss of multifamily mortgages.

(2)  INTERNATIONAL DISCUSSIONS.--The Federal banking agencies shall discuss the development of comparable standards with members of the supervisory committee of the Bank for International Settlements.

(3)  DEADLINE FOR PRESCRIBING REVISED STANDARDS.--Each appropriate Federal banking agency shall--

(A)  publish final regulations in the Federal Register to implement paragraph (1) not later than 18 months after the date of enactment of this Act; and

(B)  establish reasonable transition rules to facilitate compliance with those regulations.

(4)  DEFINITIONS.--For purposes of this subsection, the terms "appropriate Federal banking agency", "Federal banking agency" and "insured depository institution" have the same meanings as in section 3 of the Federal Deposit Insurance Act (12 U.S.C. 1813).

[Codified to 12 U.S.C. 1828 note]

[Source:  Section 305(b) of title III of the Act of December 19, 1991 (Pub. L. No. 102--242; 105 Stat. 2355), effective December 19, 1991]

(m)  REGULATIONS.--

(1)  IN GENERAL.--The Board of Governors of the Federal Reserve System shall, not later than 120 days after the date of enactment of this Act, promulgate final regulations to implement the amendments made by this section, other than the amendments made by subsections (i) and (k).

(2)  LIMITING EXTENSIONS OF CREDIT TO EXECUTIVE OFFICERS.--The Federal Deposit Insurance Corporation and Director of the Office of Thrift Supervision shall each, not later than 120 days after the date of enactment of this Act, promulgate final regulations prescribing the maximum amount that a nonmember insured bank or insured savings association (as the case may be) may lend under section 22(g)(4) of the Federal Reserve Act, as made applicable to those institutions by subsections (k) and (i), respectively.

[Codified to 12 U.S.C. 375b note]

[Source:  Section 306(m) of title III of the Act of December 19, 1991 (Pub. L. No. 102--242; 105 Stat. 2360), effective December 19, 1991]

(n)  EXISTING TRANSACTIONS NOT AFFECTED.--The amendments made by this section do not affect the validity of any extension of credit or other transaction lawfully entered into on or before the effective date of those amendments.

[Codified to 12 U.S.C. 375b note]


[Source:  Section 306(n) of title III of the Act of December 19, 1991 (Pub. L. No. 102--242; 105 Stat. 2360), effective December 19, 1991]

(o)  REPORTING OF CREDIT BY EXECUTIVE OFFICERS AND DIRECTORS.--An executive officer or director of an insured depository institution, a bank holding company, or a savings and loan holding company, the shares of which are not publicly traded, shall report annually to the board of directors of the institution or holding company the outstanding amount of any credit that was extended to such executive officer or director and that is secured by shares of the institution or holding company.

[Codified to 12 U.S.C. 375b note]

[Source:  Section 306(o) of title III of the Act of December 19, 1991 (Pub. L. No. 102--242; 105 Stat. 2360), effective December 19, 1991]


Subtitle B--Coverage

SEC. 311. DEPOSIT AND PASS-THROUGH INSURANCE.

(b)  INSURANCE OF DEPOSITS.--

(4)  EXPANDED COVERAGE BY REGULATION.--

(A)  REVIEW OF COVERAGE.--For the purpose of prescribing regulations, during the 1-year period beginning on the date of the enactment of this Act, the Board of Directors shall review the capacities and rights in which deposit accounts are maintained and for which deposit insurance coverage is provided by the Corporation.

(B)  REGULATIONS.--After the end of the 1-year period referred to in subparagraph (A), the Board of Directors may prescribe regulations that provide for separate insurance coverage for the different capacities and rights in which deposit accounts are maintained if a determination is made by the Board of Directors that such separate insurance coverage is consistent with--

(i)  the purpose of protecting small depositors and limiting the undue expansion of deposit insurance coverage; and

(ii)  the insurance provisions of the Federal Deposit Insurance Act.

(C)  DELAYED EFFECTIVE DATE FOR REGULATIONS.--No regulation prescribed under subparagraph (B) may take effect before the 2-year period beginning on the date of the enactment of this Act.

[Codified to 12 U.S.C. 1821 note]

[Source:  Section 311(b)(4) of title III of the Act of December 19, 1991 (Pub. L. No. 102--242; 105 Stat. 2365), effective December 19, 1991]

(d)  INFORMATIONAL STUDY.--

(1)  IN GENERAL.--The Federal Deposit Insurance Corporation, in conjunction with such consultants and technical experts as the Corporation determines to be appropriate, shall conduct a study of the cost and feasibility of tracking the insured and uninsured deposits of any individual and the exposure, under any Act of Congress or any regulation of any appropriate Federal banking agency, of the Federal Government with respect to all insured depository institutions.

(2)  ANALYSIS OF COSTS AND BENEFITS.--The study under paragraph (1) shall include detailed, technical analysis of the costs and benefits associated with the least expensive way to implement the system.

(3)  SPECIFIC FACTORS TO BE STUDIED.--As part of the study under paragraph (1), the Corporation shall investigate, review, and evaluate--

(A)  the data systems that would be required to track deposits in all insured depository institutions;

(B)  the reporting burdens of such tracking on individual depository institutions;

(C)  the systems which exist or which would be required to be developed to aggregate such data on an accurate basis;

(D)  the implications such tracking would have for individual privacy; and

(E)  the manner in which systems would be administered and enforced.

(4)  FEDERAL RESERVE BOARD SURVEY.--As part of the informational study required under paragraph (1), the Board of Governors of the Federal Reserve System shall conduct, in conjunction with other Federal departments and agencies as necessary, a survey of the ownership of deposits held by individuals including the dollar amount of deposits held, the type of deposit accounts held, and the type of financial institutions in which the deposit accounts are held.

(5)  ANALYSIS BY FDIC.--The results of the survey under paragraph (4) shall be provided to the Federal Deposit Insurance Corporation before the end of the 1-year period beginning on the date of the enactment of this Act for analysis and inclusion in the informational study.

(6)  REPORT TO CONGRESS.--Before the end of the 18-month period beginning on the date of the enactment of this Act, the Federal Deposit Insurance Corporation shall submit to the Congress a report containing a detailed statement of findings made and conclusions drawn from the study conducted under this section, including such recommendations for administrative and legislative action as the Corporation determines to be appropriate.

[Codified to 12 U.S.C. 1821 note]

[Source:  Section 311(d) of title III of the Act of December 19, 1991 (Pub. L. No. 102--242; 105 Stat. 2366), effective December 19, 1991]


Subtitle C--Demonstration Project and Studies

SEC. 321. FEASIBILITY STUDY ON AUTHORIZING INSURED AND UNINSURED DEPOSIT ACCOUNTS.

(a)  STUDY REQUIRED.--The Federal Deposit Insurance Corporation shall study the feasibility of authorizing insured depository institutions to offer both insured and uninsured deposit accounts to customers.

[Codified to 12 U.S.C. 1811 note]

[Source:  Section 321(a) of title III of the Act of December 19, 1991 (Pub. L. No. 102--242; 105 Stat. 2370), effective December 19, 1991]


(b)  FACTORS TO CONSIDER.--In conducting the study required under subsection (a), the Corporation shall consider the following factors:

(1)  The risk a 2-window deposit system would pose to the deposit insurance system.

(2)  The disclosure standards which would be necessary to prevent customer confusion over the insured status of deposits and fraudulent or misleading practices with respect to such insured status.

(3)  The extent to which accounting standards would have to be revised or changed.

(4)  The manner in which a 2-window deposit plan could be implemented with the least disruption to the stability of, and the confidence of consumers in, the banking system.

[Codified to 12 U.S.C. 1811 note]

[Source:  Section 321(b) of title III of the Act of December 19, 1991 (Pub. L. No. 102--242; 105 Stat. 2370), effective December 19, 1991]

(c)  REPORT.--Before the end of the 6-month period beginning on the date of the enactment of this Act, the Corporation shall submit a report to the Congress containing the Corporation's findings and conclusions with respect to the study under subsection (a) and any recommendations for legislative or administrative action the Corporation may determine to be appropriate.

[Codified to 12 U.S.C. 1811 note]

[Source:  Section 321(c) of title III of the Act of December 19, 1991 (Pub. L. No. 102--242; 105 Stat. 2370), effective December 19, 1991]

SEC. 322. PRIVATE REINSURANCE STUDY.

(a)  STUDY.—

(1)  IN GENERAL.--The Board of Directors of the Federal Deposit Insurance Corporation, in consultation with the Secretary of the Treasury and individuals from the private sector with expertise in private insurance, private reinsurance, depository institutions, or economics, shall conduct a study of the feasibility of establishing a private reinsurance system.

(2)  PROJECT.--The study conducted under this subsection shall include a demonstration project consisting of a simulation, by a sample of private reinsurers and insured depository institutions, of the activities required for a private reinsurance system, including--

(A)  establishment of a pricing structure for risk-based premiums;

(B)  formulation of insurance or reinsurance contracts; and

(C)  identification and collection of information necessary to evaluate and monitor the risks in insured depository institutions.

(3)  ACTUAL REINSURANCE TRANSACTIONS.--The Federal Deposit Insurance Corporation may engage in actual reinsurance transactions as part of a demonstration project conducted under paragraph (2).

[Codified to 12 U.S.C. 1811 note]

[Source:  Section 322(a) of title III of the Act of December 19, 1991 (Pub. L. No. 102--242; 105 Stat. 2370), effective December 19, 1991]

(b)  REPORT.--

(1)  IN GENERAL.--Before the end of the 18-month period beginning on the date of the enactment of this Act, the Federal Deposit Insurance Corporation shall submit to the Congress a report on the study conducted under this section.

(2)  THE REPORT UNDER THIS SUBSECTION SHALL INCLUDE—

(A)  an analysis and review of the project conducted under subsection (a)(2);

(B)  conclusions regarding the feasibility of a private reinsurance system;

(C)  recommendations regarding whether--

(i)  such a system should be restricted to depository institutions over a certain asset size;

(ii)  similar systems are feasible for depository institutions or groups of depository institutions of a lesser asset size; and

(iii)  public policy goals can be satisfied by such systems; and

(D)  recommendations for administrative and legislative action that may be necessary to establish such systems.

[Codified to 12 U.S.C. 1811 note]

[Source:  Section 322(b) of title III of the Act of December 19, 1991 (Pub. L. No. 102--242; 105 Stat. 2371), effective December 19, 1991]


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