ACCELERATION OF EFFECTIVE DATE FOR INTERAFFILIATE TRANSACTIONS.

SEC. 316. ACCELERATION OF EFFECTIVE DATE FOR INTERAFFILIATE TRANSACTIONS. (a) Home Owners’ Loan Act Amendment.— Section 11(a)(2) of the Home Owners’ Loan Act (12 U.S.C. 1468(a)(2)) is amended by adding at the end the following new subparagraph: “(C) Transition rule for well capitalized savings ASSOCIATIONS.— “(i) In general.— A savings association that is well capitalized (as defined in section 38 of the Federal Deposit Insurance Act), as determined without including goodwill in calculating core capital, shall be treated as a bank for purposes of section 23A(d)(1) and section 23B of the Federal Reserve Act. “(ii) Liability of commonly controlled depository institutions.— Any savings association that engages under clause (i) in a transaction that would not otherwise be permissible under this subsection, and any affiliated insured bank that is commonly controlled (as defined in section 5(e)(9) of the Federal Deposit Insurance Act), shall be subject to subsection (e) of section 5 of the Federal Deposit Insurance Act as if paragraph (6) of that subsection did not apply.”. (b) Repeal Provision.— Effective on January 1, 1995, subparagraph (C) of section 11(a)(2) of the Home Owners’ Loan Act (12 U.S.C. 1468(a)(2)) (as added by subsection (a) of this section) is repealed.