ELIMINATION OF SAIF AND DIF SPECIAL RESERVES.

SEC. 736. ELIMINATION OF SAIF AND DIF SPECIAL RESERVES. (a) SAIF Special Reserve.—Section 11(a)(6) of the Federal Deposit Insurance Act (12 U.S.C. 1821(a)(6)) is amended by striking subparagraph (L). (b) DIF Special Reserve.—Section 2704 of the Deposit Insurance Funds Act of 1996 (12 U.S.C. 1821 note) is amended— (1) by striking subsection (b); and (2) in subsection (d)— (A) by striking paragraph (4); (B) in paragraph (6)(C)(i), by striking “(6) and (7)” and inserting “(5), (6), and (7)”; and (C) in paragraph (6)(C), by striking clause (ii) and inserting the following: “(ii) by redesignating paragraph (8) as paragraph (5).”. (c) Effective Date.—This section and the amendments made by this section shall become effective on the date of the enactment of this Act.