REMOVAL AND REMAND.

SEC. 316. REMOVAL AND REMAND. Section 21A(1)(3) of the Federal Home Loan Bank Act (12 U.S.C. 1441a(1)(3)) is amended to read as follows: “(3) Removal and remand.— “(A) In general.— The Corporation, in any capacity and without bond or security, may remove any action, suit, or proceeding from a State court to the United States district court with jurisdiction over the place where the action, suit, or proceeding is pending, to the United States district court for the District of Columbia, or to the United States district court with jurisdiction over the principal place of business of any institution for which the Corporation has been appointed conservator or receiver if the action, suit, or proceeding is brought against the institution or the Corporation as conservator or receiver of such institution. The removal of any such suit or proceeding shall be instituted— “(i) not later than 90 days after the date the Corporation is substituted as a party, or “(ii) not later than 30 days after service on the Corporation, if the Corporation is named as a party in any capacity and if such suit is filed after August 9, 1989. “(B) Substitution.— The Corporation shall be deemed substituted in any action, suit, or proceeding for a party upon the filing of a copy of the order appointing the Corporation as conservator or receiver for that party of the filing of such other pleading informing the court that the Corporation has been appointed conservator or receiver for such party. “(C) Appeal.— The Corporation may appeal any order of remand entered by a United States district court.’.