TECHNICAL CORRECTIONS RELATING TO TITLE HI OF THE FEDERAL DEPOSIT INSURANCE CORPORATION IMPROVEMENT ACT OF 1991.

SEC. 1606. TECHNICAL CORRECTIONS RELATING TO TITLE HI OF THE FEDERAL DEPOSIT INSURANCE CORPORATION IMPROVEMENT ACT OF 1991. (a) Amendments Relating to Subtitle A.— (1) Section 29 of the Federal Deposit Insurance Act (12 U.S.C. 1831f) (as amended by section 301(a) of the Federal Deposit Insurance Corporation Improvement Act of 1991) is amended— 106 STAT. 4085 (A) in subsection (a), by striking “A insured” and inserting “An insured”; and (B) in subsection (c), by striking “capitalized,” and inserting “capitalized (but not well capitalized),”. (2) Section 7(b)(2) of the Federal Deposit Insurance Act (12 U.S.C. 1817(b)(2)) (as amended by section 302(a) of the Federal Deposit Insurance Corporation Improvement Act of 1991) is amended— (A) in subparagraph (D), by striking the comma after “members”; and (B) by adding at the end the following new subparagraph: “(H) Bank enterprise act requirement.—The Corporation shall design the risk-based assessment system so that, insofar as the system bases assessments, directly or indirectly, on deposits, the portion of the deposits of any insured depository institution which are attributable to lifeline accounts established in accordance with the Bank Enterprise Act of 1991 shall be subject to assessment at a rate determined in accordance with such Act.”. (3) Effective on the effective date of the amendment made by section 302(a) of the Federal Deposit Insurance Corporation Improvement Act of 1991, section 232(a)(1) of the Federal Deposit Insurance Corporation Improvement Act of 1991 (12 U.S.C. 1834(a)(1) by striking “7(b)10)” and inserting “7(b)(2)(H)”. (4) The subsection which was added to section 10 of the Federal Deposit Insurance Act by section 302(d) of the Federal Deposit Insurance Corporation Improvement Act of 1991 and designated as subsection (f) is hereby redesignated as sub- section (g). (5) Section 302(e) of the Federal Deposit Insurance Corporation Improvement Act of 1991 is amended— (A) by redesignating paragraphs (2), (3), and (4) as paragraphs (3), (4), and (5), respectively; and (B) by striking paragraph (1) and inserting the following new paragraphs: “(1) in section 5id(3)(B)(i)— “(A) by striking ‘average assessment base’ and inserting ‘deposits’; and “(B) by striking ‘shall—’and all that follows through the period and inserting ‘shall be treated as deposits which are insured by the Savings Association Insurance Fund.’; “(2) in section 5(d)(3)(B)(ii)— “(A) by striking ‘average assessment base’ and inserting ‘deposits’; and “(B) by striking ‘shall—’and all that follows through the period and inserting ‘shall be treated as deposits which are insured by the Bank Insurance Fund.’”. (6) Effective on the effective date of the amendment made by section 302(e)(4) of the Federal Deposit Insurance Corporation Improvement Act of 1991 (as so redesignated by paragraph ((B)(A) of this subsection), section 7(b) of the Federal Deposit Insurance Act (12 U.S.C. 1817(b)) (as amended by section 302(a) of the Federal Deposit Insurance Corporation Improvement Act of 1991) is amended by adding after paragraph (6) (as 106 STAT. 4086transferred and so redesignated by section 1603(a)(3) of this title) the following new paragraph: “(7) Community enterprise credits—The Corporation shall allow a credit against any semiannual assessment to any insured depository institution which satisfies the requirements of the Community Enterprise Assessment Credit Board under section 233(a)(1) of the Bank Enterprise Act of 1991 in the amount determined by such Board by regulation.”. (7) Effective on the effective date of the amendment made by section 302(e)(4) of the Federal Deposit Insurance Corporation Improvement Act of 1991 (as so redesignated by paragraph (5))(A) of this subsection), section 233 of the Federal Deposit Insurance Corporation Improvement Act of 1991 (12 U.S.C. 1834a) is amended— (A) in subsection (a)(1)(A), by striking “7(d)(4)” and inserting “7(b)(7)”; (B) in subsection (a)(3), by striking “7(d)(4)” and inserting “7(b)(7)”; and (C) in subsection (e)(2), by striking “made for purposes of the notification required under section 7(d)(1)(B)r and inserting “of the semiannual assessment to which such credit is applicable”. (8) Section 24(e)(1)(B) of the Federal Deposit Insurance Act (12 U.S.C. 1831a) (as added by section 303(a) of the Federal Deposit Insurance Corporation Improvement Act of 1991) is amended to read as follows: “(B) meets applicable consumer disclosure requirements with respect to such insurance.”. (9) The subsection of section 18 of the Federal Deposit Insurance Act which was added by section 305(a) of the Federal Deposit Insurance Corporation Improvement Act of 1991 and designated as subsection (o) (relating to periodic review of cap-ital standards) is hereby redesignated as subsection (p). (10) Section 22(h)(6)(B)(i) of the Federal Reserve Act (12 U.S.C, 375b) (as amended by section 306(a) of the Federal Deposit Insurance Corporation Improvement Act of 1991) is amended by striking “and” after the semicolon and inserting “or”. (11) Section 8(t) of the Federal Deposit Insurance Act (12 U.S.C. 1818(t)) (as added by section 307 of the Federal Deposit Insurance Corporation Improvement Act of 1991) is amended— (A) in paragraph (2)(B), by inserting “or institution- affiliated party” after “institution” each place such term appears; (B) in paragraph (2)(C), by striking “institution’s” the 1st place such term appears; and (C) in paragraph (5), by inserting “or institution-affiliated party” after “depository institution”. (b) Amendments Relating to Subtitle B.— (1) Section 7(b)(6) of the Federal Deposit Insurance Act (12 U.S.C. 1817(b)(6)) is amended— (A) by striking subparagraph (D), as added by section 311(a)(2)(C) of the Federal Deposit Insurance Corporation Improvement Act of 1991; and (B) by inserting after subparagraph (C) the following new subparagraph: 106 STAT. 4087 “(D) any liability of the insured depository institution which is not treated as an insured deposit pursuant to section 11(a)(8).”. (2) Effective on the effective date of the amendment made by section 302(b) of the Federal Deposit Insurance Corporation Improvement Act of 1991, section 7(c) of the Federal Deposit Insurance Act (12 U.S.C. 1817(c)) (as amended by such section 302(b)) is amended— (A) by adding at the end, the paragraph added to such section 7(c) (as in effect on the day before the effective date of such amendment) by section 313(a) of the Federal Deposit Insurance Corporation Improvement Act of 1991; (B) by redesignating such paragraph as paragraph (4); and (C) in paragraph (4) (as so redesignated by subparagraph (B) of this paragraph), by striking “paragraph (1) or (2)” each place such term appears and insertingparagraph (1)”. (3) Section 202(d)(2) of the Federal Credit Union Act (12 U.S.C. 1782(d)(2)) (as amended by section 313(b) of the Federal Deposit Insurance Corporation Improvement Act of 1991) is amended— (A) in subparagraph (C)— (i) by striking “insured depository institution” and inserting “insured credit union”; (ii) by striking “or” after “subsection (b)(1)”; (iii) by striking “Corporation” and inserting “Board”; and (iv) by striking “assets of the institution” and inserting ‘’assets of the credit union”; (B) in subparagraph (D), by striking “Corporation” and inserting “Board”; and (C) in subparagraph (E)— (i) by striking “insured depository institution” and inserting “insured credit union”; and (ii) by striking “if the institution” and inserting “if the credit union.” (c) Amendment to the Heading of Title III.—The heading of title III of the Federal Deposit Insurance Corporation Improvement Act of 1991 is amended to read as follows: “TITLE III—FEDERAL DEPOSIT INSURANCE REFORM”.