RETIREMENT CERTIFICATES OF DEPOSITS.

SEC. 2614. RETIREMENT CERTIFICATES OF DEPOSITS. (a) In General.— Section 3(l)(5) of the Federal Deposit Insurance Act (12 U.S.C. 1813(1)(5) is amended— (1) in subparagraph (A), by striking “and” at the end; (2) in subparagraph (B), by striking the period at the end and inserting “; and”; and (3) by adding at the end the following new subparagraph: “(C) any liability of an insured depository institution that arises under an annuity contract, the income of which is tax deferred under section 72 of the Internal Revenue Code of 1986.”. (b) Effective Date.— The amendments made by subsection (a) shall apply to any liability of an insured depository that arises under an annuity contract issued on or after the date of enactment of this Act.