GUIDELINES FOR EXAMINATIONS.

SEC. 349. GUIDELINES FOR EXAMINATIONS. (a) Adequacy of State Examinations.— Section 10(d) of the Federal Deposit Insurance Act (12 U.S.C. 1820(d)) is amended by adding at the end the following new paragraph: “(9) Standards for determining adequacy of state examinations.— The Federal Financial Institutions Examination Council shall issue guidelines establishing standards to be used at the discretion of the appropriate Federal banking agency for purposes of making a determination under paragraph (3).”. (b) Effective Date of Initial Guidelines.— The initial guidelines required to be issued pursuant to the amendment made by subsection (a) shall become effective not later than 1 year after the date of enactment of this Act.