FDIC AUTHORIZED TO SET DESIGNATED RESERVE RATIO AS NECESSARY IN FACE OF SIGNIFICANT RISK OF SUBSTANTIAL LOSSES TO INSURANCE FUND.

SEC. 2004. FDIC AUTHORIZED TO SET DESIGNATED RESERVE RATIO AS NECESSARY IN FACE OF SIGNIFICANT RISK OF SUBSTANTIAL LOSSES TO INSURANCE FUND.Section 7(b)(l)(B) of the Federal Deposit Insurance Act (12 U.S.C. 1817(b)(l)(B)) is amended— (1) by striking “, not exceeding 1.50 percent,” each time it appears; (2) in clause (iii)— (A) by inserting “and” at the end of subclause (I); (B) by striking subclauses (II) and (III); and (C) by redesignating subclause (IV) as subclause (II); and (3) in clause (iv)— (A) by inserting “and” at the end of subclause (I); (B) by striking subclauses (II) and (III); and (C) by redesignating subclause (IV) as subclause (II).