TECHNICAL CORRECTIONS RELATING TO TITLE IV OF THE FEDERAL DEPOSIT INSURANCE CORPORATION IMPROVEMENT ACT OF 1891.

SEC. 1606. TECHNICAL CORRECTIONS RELATING TO TITLE IV OF THE FEDERAL DEPOSIT INSURANCE CORPORATION IMPROVEMENT ACT OF 1891. (a) Amendment Relating to Subtitle A.—Section 402(14)(B) of the Federal Deposit Insurance Corporation Improvement Act of 1991 is amended by striking “Federal commodities law” and inserting “Federal law”. (b) Amendment Relating to Subtitle B.—Section 1112(f)(2) of the Right to Financial Privacy Act of 1978 (12 U.S.C. 3412(1)(2)) (as amended by section 411(1) of the Federal Deposit Insurance Corporation Improvement Act of 1991) is amended— 106 STAT. 4088 (1) by inserting a comma before “for civil actions under section 961”; and (2) by inserting a comma after “United States Code”. (c) Amendment Relating to Subtitle C.—Section 11(d)(4)(A) of the Federal Deposit Insurance Act (12 U.S.C. 1821(d)(4)(A)) (as amended by section 416 of the Federal Deposit Insurance Corporation Improvement Act of 1991) is amended by striking “determinations” and inserting “determination”. (d) Amendment Relating to Subtitle D.—The heading for section 422 of the Federal Deposit Insurance Corporation Improvement Act of 1991 is amended by striking “board” and inserting “advisory committee”. (e) Amendment Relating to Subtitle F.—Section 431(a)(2) of the Federal Deposit Insurance Corporation Improvement Act of 1991 is amended by inserting “(hereafter in this subsection referred to as the ‘Secretary’)” after “Secretary of the Treasury”. (f) Amendments Relating to Subtitle G.— (1) Section 5(c)(2)(B)(iii) of the Home Owners’ Loan Act (12 U.S.C. 1464(c)(2)(B)) is amended to read as follows: “(iii) Monitoring.—If the Director permits any increased authority pursuant to clause (ii), the Director shall closely monitor the Federal savings association’s condition and lending activities to ensure that the savings association carries out all authority under this paragraph in a safe and sound manner and complies with this subparagraph and all relevant laws and regulations.”. (2) Section 5(c)(2)(C) of the Home Owners’ Loan Act (12 U.S.C. 1464(c)(2)(C)) is amended by striking the comma after “including”. (3) The last sentence of section 5(c)(2)(D) of the Home Owners’ Loan Act (12 U.S.C. 1464(c)(2)(B)) (as amended by section 441(a) of the Federal Deposit Insurance Corporation Improvement Act of 1991) is amended by inserting before the period the following: “, except that amounts in excess of 30 percent of the assets may be invested only in loans which are made by the association directly to the original obligor and with respect to which the association does not pay any finder, referral, or other fee, directly or indirectly, to any third party”. (4) Section 437 of the Federal Deposit Insurance Corporation Improvement Act of 1991 is amended— (A) by striking “Section 10(m)(1)(B))” and inserting “(a) In General.— Section 10(m)(1)(B))”; and (B) by adding at the end the following new subsection: “(b) Technical and Conforming Amendments.— “(1) Section 10(m)(1)(A) of the Home Owners’ Loan Act (12 U.S.C. 1467(m)(1)(A)) is amended by striking ‘70 percent’ and inserting ‘65 percent’. “(2) The first sentence of section 10(m)(3)(D) of the Home Owners’ Loan Act (12 U.S.C. 1467(m)(3)(D)) is amended by striking Tor the preceding 2-year period’ and inserting ‘on a monthly average oasis in 9 out of the preceding 12 months’.”. (g) Amendments Relating to Subtitle I.— (1) Section 451(b)(3) of the Federal Deposit Insurance Corporation Improvement Act of 1991 is amended by striking “11(i) and inserting “3(i)(2)”. 106 STAT. 4089 (2) Section 3(i)(2) of the Federal Deposit Insurance Act (12 U.S.C. 1813(i)(2)) is amended by striking “ll(i)” and inserting “1 1(n)”. (h) Amendments Relating to Subtitle K.— (1) Section 461 of the Federal Deposit Insurance Corporation Improvement Act of 1991 is amended by inserting “of 1956” after “Bank Holding Company Act”. (2) The heading of subtitle K of title IV of the Federal Deposit Insurance Corporation Improvement Act of 1991 is amended to read as follows: “Subtitle K—Acquisition of Insolvent Savings Associations”. (i) Amendments Relating to Subtitle M.— (1) Section 7(a) of the Federal Deposit Insurance Act (12 U.S.C. 1817(b)) is amended by redesignating the paragraph (9) which was added to such section Dy section 474 of the Federal Deposit Insurance Corporation Improvement Act of 1991 as paragraph (10). , (2) Section 475(c) of the Federal Deposit Insurance Corporation Improvement Act of 1991 is amended to read as follows: “(c) Effective Date.—This section shall apply after the end of the 60-day period beginning on the date of the enactment of this Act.”. (3) Section 477 of the Federal Deposit Insurance Corporation Improvement Act of 1991 is amended by striking “Federal Reserve Board” each place such term appears and inserting “Board of Governors of the Federal Reserve System”.