REPEAL OF SAVINGS ASSOCIATION LIQUIDITY PROVISION.

SEC. 1201. REPEAL OF SAVINGS ASSOCIATION LIQUIDITY PROVISION. (a) Repeal of Liquidity Provision.—Section 6 of the Home Owners’ Loan Act (12 U.S.C. 1465) is hereby repealed. (b) Conforming Amendments.— (1) Section 5.—Section 5(c)(1)(M) of the Home Owners’ Loan Act (12 U.S.C. 1464(c)(l)(M)) is amended to read as follows: “(M) Liquidity investments.—Investments (other than equity investments), identified by the Director, for liquidity purposes, including cash, funds on deposit at a Federal reserve bank or a Federal home loan bank, or bankers’ acceptances.”. (2) Section 10.—Section 10(m)(4)(B)(iii) of the Home Owners’ Loan Act (12 U.S.C. 1467a(m)(4)(B)(iii)) is amended by inserting “as in effect on the day before the date of the enactment of the Financial Regulatory Relief and Economic Efficiency Act of 2000,” after “Loan Act,”.