DOMESTIC RETAIL DEPOSIT-TAKING BY FOREIGN BANKS.

SEC. 302. DOMESTIC RETAIL DEPOSIT-TAKING BY FOREIGN BANKS. (a) In General.— Section 6(c) of the International Banking Act of 1978 (12 U.S.C. 3104(c)) is amended— (1) in paragraph (1)— (A) by inserting “domestic retail” before “deposit accounts”; and (B) by inserting “and requiring deposit insurance protection,” after “$100,000,”; and (2) in paragraph (2)— (A) by striking “Deposit” and inserting “Domestic retail deposit”; and (B) by inserting “that require deposit insurance protection” after “$100,000”. (b) Effective Date.— This section, and the amendments made by this section, shall have the same effective date as the Federal Deposit Insurance Corporation Improvement Act of 1991.