§ 1821. Insurance Funds  


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  • (a) Deposit insurance(1) Insured amounts payable(A) In general

    The Corporation shall insure the deposits of all insured depository institutions as provided in this chapter.

    (B) Net amount of insured deposit

    The net amount due to any depositor at an insured depository institution shall not exceed the standard maximum deposit insurance amount as determined in accordance with subparagraphs (C), (D), (E) and (F) and paragraph (3).

    (C) Aggregation of deposits

    For the purpose of determining the net amount due to any depositor under subparagraph (B), the Corporation shall aggregate the amounts of all deposits in the insured depository institution which are maintained by a depositor in the same capacity and the same right for the benefit of the depositor either in the name of the depositor or in the name of any other person, other than any amount in a trust fund described in paragraph (1) or (2) of section 1817(i) of this title or any funds described in section 1817(i)(3) of this title.

    (D) Coverage for certain employee benefit plan deposits(i) Pass-through insurance

    The Corporation shall provide pass-through deposit insurance for the deposits of any employee benefit plan.

    (ii) Prohibition on acceptance of benefit plan deposits

    An insured depository institution that is not well capitalized or adequately capitalized may not accept employee benefit plan deposits.

    (iii) DefinitionsFor purposes of this subparagraph, the following definitions shall apply:(I) Capital standards

    The terms “well capitalized” and “adequately capitalized” have the same meanings as in section 1831o of this title.

    (II) Employee benefit plan

    The term “employee benefit plan” has the same meaning as in paragraph (5)(B)(ii), and includes any eligible deferred compensation plan described in section 457 of title 26.

    (III) Pass-through deposit insurance

    The term “pass-through deposit insurance” means, with respect to an employee benefit plan, deposit insurance coverage based on the interest of each participant, in accordance with regulations issued by the Corporation.

    (E) Standard maximum deposit insurance amount defined

    For purposes of this chapter, the term “standard maximum deposit insurance amount” means $250,000, adjusted as provided under subparagraph (F) after March 31, 2010. Notwithstanding any other provision of law, the increase in the standard maximum deposit insurance amount to $250,000 shall apply to depositors in any institution for which the Corporation was appointed as receiver or conservator on or after January 1, 2008, and before October 3, 2008. The Corporation shall take such actions as are necessary to carry out the requirements of this section with respect to such depositors, without regard to any time limitations under this chapter. In implementing this and the preceding 2 sentences, any payment on a deposit claim made by the Corporation as receiver or conservator to a depositor above the standard maximum deposit insurance amount in effect at the time of the appointment of the Corporation as receiver or conservator shall be deemed to be part of the net amount due to the depositor under subparagraph (B).

    (F) Inflation adjustment(i) In generalBy April 1 of 2010, and the 1st day of each subsequent 5-year period, the Board of Directors and the National Credit Union Administration Board shall jointly consider the factors set forth under clause (v), and, upon determining that an inflation adjustment is appropriate, shall jointly prescribe the amount by which the standard maximum deposit insurance amount and the standard maximum share insurance amount (as defined in section 1787(k) of this title) applicable to any depositor at an insured depository institution shall be increased by calculating the product of—(I) $100,000; and(II) the ratio of the published annual value of the Personal Consumption Expenditures Chain-Type Price Index (or any successor index thereto), published by the Department of Commerce, for the calendar year preceding the year in which the adjustment is calculated under this clause, to the published annual value of such index for the calendar year preceding April 1, 2006. The values used in the calculation under subclause (II) shall be, as of the date of the calculation, the values most recently published by the Department of Commerce.(ii) Rounding

    If the amount determined under clause (ii) for any period is not a multiple of $10,000, the amount so determined shall be rounded down to the nearest $10,000.

    (iii) Publication and report to the CongressNot later than April 5 of any calendar year in which an adjustment is required to be calculated under clause (i) to the standard maximum deposit insurance amount and the standard maximum share insurance amount under such clause, the Board of Directors and the National Credit Union Administration Board shall—(I) publish in the Federal Register the standard maximum deposit insurance amount, the standard maximum share insurance amount, and the amount of coverage under paragraph (3)(A) and section 1787(k)(3) of this title, as so calculated; and(II) jointly submit a report to the Congress containing the amounts described in subclause (I).(iv) 6-month implementation period

    Unless an Act of Congress enacted before July 1 of the calendar year in which an adjustment is required to be calculated under clause (i) provides otherwise, the increase in the standard maximum deposit insurance amount and the standard maximum share insurance amount shall take effect on January 1 of the year immediately succeeding such calendar year.

    (v) Inflation adjustment considerationIn making any determination under clause (i) to increase the standard maximum deposit insurance amount and the standard maximum share insurance amount, the Board of Directors and the National Credit Union Administration Board shall jointly consider—(I) the overall state of the Deposit Insurance Fund and the economic conditions affecting insured depository institutions;(II) potential problems affecting insured depository institutions; or(III) whether the increase will cause the reserve ratio of the fund to fall below 1.15 percent of estimated insured deposits.
    (2) Government depositors(A) In generalNotwithstanding any limitation in this chapter or in any other provision of law relating to the amount of deposit insurance available to any 1 depositor—(i) a government depositor shall, for the purpose of determining the amount of insured deposits under this subsection, be deemed to be a depositor separate and distinct from any other officer, employee, or agent of the United States or any public unit referred to in subparagraph (B); and(ii) except as provided in subparagraph (C), the deposits of a government depositor shall be insured in an amount equal to the standard maximum deposit insurance amount (as determined under paragraph (1)).(B) Government depositorIn this paragraph, the term “government depositor” means a depositor that is—(i) an officer, employee, or agent of the United States having official custody of public funds and lawfully investing or depositing the same in time and savings deposits in an insured depository institution;(ii) an officer, employee, or agent of any State of the United States, or of any county, municipality, or political subdivision thereof having official custody of public funds and lawfully investing or depositing the same in time and savings deposits in an insured depository institution in such State;(iii) an officer, employee, or agent of the District of Columbia having official custody of public funds and lawfully investing or depositing the same in time and savings deposits in an insured depository institution in the District of Columbia;(iv) an officer, employee, or agent of the Commonwealth of Puerto Rico, of the Virgin Islands, of American Samoa, of the Trust Territory of the Pacific Islands, or of Guam, or of any county, municipality, or political subdivision thereof having official custody of public funds and lawfully investing or depositing the same in time and savings deposits in an insured depository institution in the Commonwealth of Puerto Rico, the Virgin Islands, American Samoa, the Trust Territory of the Pacific Islands, or Guam, respectively; or(v) an officer, employee, or agent of any Indian tribe (as defined in section 1452(c) of title 25) or agency thereof having official custody of tribal funds and lawfully investing or depositing the same in time and savings deposits in an insured depository institution.(C) Authority to limit deposits

    The Corporation may limit the aggregate amount of funds that may be invested or deposited in deposits in any insured depository institution by any government depositor on the basis of the size of any such bank Housing Finance Agency.(B) Privilege

    The term “privilege” includes any work-product, attorney-client, or other privilege recognized under Federal or State law.

    (3) Rule of construction

    Paragraph (1) shall not be construed as implying that any person waives any privilege applicable to any information because paragraph (1) does not apply to the transfer or use of that information.

    (u) Purchase rights of tenants(1) Notice

    Except as provided in paragraph (3), the Corporation may make available for sale a 1- to 4-family residence (including a manufactured home) to which the Corporation acquires title only after the Corporation has provided the household residing in the property notice (in writing and mailed to the property) of the availability of such property and the preference afforded such household under paragraph (2).

    (2) PreferenceIn selling such a property, the Corporation shall give preference to any bona fide offer made by the household residing in the property, if—(A) such offer is substantially similar in amount to other offers made within such period (or expected by the Corporation to be made within such period);(B) such offer is made during the period beginning upon the Corporation making such property available and of a reasonable duration, as determined by the Corporation based on the normal period for sale of such properties; and(C) the household making the offer complies with any other requirements applicable to purchasers of such property, including any downpayment and credit requirements.(3) ExceptionsParagraphs (1) and (2) shall not apply to—(A) any residence transferred in connection with the transfer of substantially all of the assets of an insured depository institution for which the Corporation has been appointed conservator or receiver;(B) any eligible single family property (as such term is defined in section 1831q(p) of this title; or(C) any residence for which the household occupying the residence was the mortgagor under a mortgage on such residence and to which the Corporation acquired title pursuant to default on such mortgage.
    (v) Preference for sales for homeless families

    Subject to subsection (u) of this section, in selling any real property (other than eligible residential property and eligible condominium property, as such terms are defined in section 1831q(p) of this title) to which the Corporation acquires title, the Corporation shall give preference among offers to purchase the property that will result in the same net present value proceeds, to any offer that would provide for the property to be used, during the remaining useful life of the property, to provide housing or shelter for homeless persons (as such term is defined in section 11302 of title 42) or homeless families.

    (w) Preferences for sales of certain commercial real properties(1) AuthorityIn selling any eligible commercial real properties of the Corporation, the Corporation shall give preference, among offers to purchase the property that will result in the same net present value proceeds, to any offer—(A) that is made by a public agency or nonprofit organization; and(B) under which the purchaser agrees that the property shall be used, during the remaining useful life of the property, for offices and administrative purposes of the purchaser to carry out a program to acquire residential properties to provide (i) homeownership and rental housing opportunities for very-low-, low-, and moderate-income families, or (ii) housing or shelter for homeless persons (as such term is defined in section 11302 of title 42) or homeless families.(2) DefinitionsFor purposes of this subsection, the following definitions shall apply:(A) Eligible commercial real property

    The term “eligible commercial real property” means any property (i) to which the Corporation acquires title, and (ii) that the Corporation, in the discretion of the Corporation, determines is suitable for use for the location of offices or other administrative functions involved with carrying out a program referred to in paragraph (1)(B).

    (B) Nonprofit organization and public agency

    The terms “nonprofit organization” and “public agency” have the same meanings as in section 1831q(p) of this title.

(Sept. 21, 1950, ch. 967, § 2[11], 64 Stat. 884; Pub. L. 89–695, title III, § 301(c), (d), Oct. 16, 1966, 80 Stat. 1055; Pub. L. 91–151, title I, § 7(a)(3), (4), Dec. 23, 1969, 83 Stat. 375; Pub. L. 93–495, title I, §§ 101(a)(3), 102(a)(3), (4), Oct. 28, 1974, 88 Stat. 1500, 1502; Pub. L. 95–369, § 6(c)(17)–(22), Sept. 17, 1978, 92 Stat. 619; Pub. L. 95–630, title XIV, § 1401(a), Nov. 10, 1978, 92 Stat. 3712; Pub. L. 96–153, title III, § 323(a), Dec. 21, 1979, 93 Stat. 1120; Pub. L. 96–221, title III, § 308(a)(1)(C), (D), Mar. 31, 1980, 94 Stat. 147; Pub. L. 97–110, title I, § 103(c), Dec. 26, 1981, 95 Stat. 1514; Pub. L. 97–320, title I, § 113(j), (k), Oct. 15, 1982, 96 Stat. 1474; Pub. L. 99–514, § 2, Oct. 22, 1986, 100 Stat. 2095; Pub. L. 100–86, title V, §§ 503(a), 507, Aug. 10, 1987, 101 Stat. 629, 634; Pub. L. 101–73, title II, §§ 201(a), 211–214, title IX, § 909, Aug. 9, 1989, 103 Stat. 187, 218–246, 477; Pub. L. 101–647, title XXV, §§ 2521(a)(1), 2526(a), 2527(a), 2528(a), 2532(b), 2534(a), Nov. 29, 1990, 104 Stat. 4863, 4875, 4877, 4880, 4882; Pub. L. 102–233, title I, § 102, title II, § 202(a), (b), title III, § 302(a), Dec. 12, 1991, 105 Stat. 1761, 1766, 1767; Pub. L. 102–242, title I, §§ 123(a), 133(a), (e), 141(b), (d), 161(a), (e), title II, § 241(c)(1), title III, § 311(a)(1), (b)(1), (2), (5)(B), (C), title IV, §§ 416, 426, 446, Dec. 19, 1991, 105 Stat. 2252, 2270, 2272, 2277, 2285, 2286, 2331, 2363, 2364, 2366, 2376, 2378, 2382; Pub. L. 102–550, title XV, §§ 1501(a), 1544, title XVI, §§ 1603(e)(1), 1604(c)(2), 1606(c), 1611(b), Oct. 28, 1992, 106 Stat. 4044, 4069, 4081, 4083, 4088, 4090; Pub. L. 103–66, title III, § 3001(a), (b), Aug. 10, 1993, 107 Stat. 336; Pub. L. 103–204, §§ 3(d), 4(b), 8(a)–(f), (i), 11, 15(b), 16(b), 17(b), 20, 27(b), 38(b), Dec. 17, 1993, 107 Stat. 2379, 2380, 2384–2389, 2399–2401, 2404, 2410, 2416; Pub. L. 103–325, title III, § 325, title IV, § 411(c)(2)(A), title VI, § 602(a)(21)–(33), Sept. 23, 1994, 108 Stat. 2228, 2253, 2289; Pub. L. 103–328, title II, § 201(a), Sept. 29, 1994, 108 Stat. 2368; Pub. L. 103–394, title V, § 501(c)(2), Oct. 22, 1994, 108 Stat. 4143; Pub. L. 104–208, div. A, title II, §§ 2602, 2704(d)(1)–(4), (6)(C), (14)(H), (I), 2705, Sept. 30, 1996, 110 Stat. 3009–469, 3009–487, 3009–488, 3009–492, 3009–495; Pub. L. 104–316, title I, § 106(i), Oct. 19, 1996, 110 Stat. 3831; Pub. L. 106–102, title I, § 117, title VII, § 736(a), (b)(2), Nov. 12, 1999, 113 Stat. 1372, 1479; Pub. L. 106–400, § 2, Oct. 30, 2000, 114 Stat. 1675; Pub. L. 106–569, title XII, § 1222, Dec. 27, 2000, 114 Stat. 3036; Pub. L. 108–271, § 8(b), July 7, 2004, 118 Stat. 814; Pub. L. 108–386, § 8(a)(4), Oct. 30, 2004, 118 Stat. 2231; Pub. L. 109–8, title IX, §§ 901(a)(1), (b)(1), (c)(1), (d)(1), (e)(1), (f)(1), (g)(1), (h)(1), (i)(1), 902(a), 903(a), 904(a), 905(a), 908(a), Apr. 20, 2005, 119 Stat. 146, 147, 149, 151, 152, 155, 157–160, 165, 166, 183; Pub. L. 109–171, title II, §§ 2102(b), 2103(a)–(c), Feb. 8, 2006, 120 Stat. 9, 11; Pub. L. 109–173, §§ 2(a), (c)(1), 8(a)(11)–(14), Feb. 15, 2006, 119 Stat. 3601, 3602, 3611, 3612; Pub. L. 109–351, title VII, §§ 701(b), 718(a), 721(a), 722(a), 724, Oct. 13, 2006, 120 Stat. 1985, 1997–1999, 2001; Pub. L. 109–390, §§ 2(a)(1), (b)(1), (c)(1), 3(a), 6(a), Dec. 12, 2006, 120 Stat. 2692–2694, 2698; Pub. L. 110–289, div. A, title I, § 1161(i), title VI, § 1604(a), (c), (d), July 30, 2008, 122 Stat. 2781, 2826, 2829; Pub. L. 111–203, title III, §§ 335(a), 343(a)(1), (3), 363(5), July 21, 2010, 124 Stat. 1540, 1544, 1552; Pub. L. 111–343, § 1(a), Dec. 29, 2010, 124 Stat. 3609; Pub. L. 112–215, § 1(1), Dec. 20, 2012, 126 Stat. 1589.)

References In Text

References in Text

Section 1441a(b)(4) of this title, referred to in subsec. (d)(2)(I)(ii), was in the original “section 21A(b)(4)”, which has been translated as reading “section 21A(b)(4) of the Federal Home Loan Bank Act”, to reflect the probable intent of Congress. Section 1441a of this title was repealed by Pub. L. 111–203, title III, § 364(b), July 21, 2010, 124 Stat. 1555.

Section 1823(e)(2) of this title, referred to in subsec. (d)(9)(B), was redesignated section 1823(e)(1)(B) of this title by Pub. L. 103–325, title III, § 317(1), Sept. 23, 1994, 108 Stat. 2223.

Section 1441a(b)(14) of this title, referred to in subsec. (d)(14)(A)(ii), was repealed by Pub. L. 111–203, title III, § 364(b), July 21, 2010, 124 Stat. 1555.

The Federal Rules of Civil Procedure, referred to in subsec. (d)(18), (19), are set out in the Appendix to Title 28, Judiciary and Judicial Procedure.

The Securities Exchange Act of 1934, referred to in subsec. (e)(8)(D)(v)(I), is act June 6, 1934, ch. 404, 48 Stat. 881, which is classified principally to chapter 2B (§ 78a et seq.) of Title 15, Commerce and Trade. For complete classification of this Act to the Code, see section 78a of Title 15 and Tables.

The Gramm-Leach-Bliley Act, referred to in subsec. (e)(8)(D)(vi), (17), is Pub. L. 106–102, Nov. 12, 1999, 113 Stat. 1338. For complete classification of this Act to the Code, see Short Title of 1999 Amendment note set out under section 1811 of this title and Tables.

The Legal Certainty for Bank Products Act of 2000, referred to in subsec. (e)(8)(D)(vi), (17), is title IV of H.R. 5660, as enacted by Pub. L. 106–554, § 1(a)(5), Dec. 21, 2000, 114 Stat. 2763, 2763A–457, which is classified to sections 27 to 27f of Title 7, Agriculture. For complete classification of this Act to the Code, see Short Title of 2000 Amendment note set out under section 1 of Title 7 and Tables.

The Commodity Exchange Act, referred to in subsec. (e)(8)(D)(vi), (17), is act Sept. 21, 1922, ch. 369, 42 Stat. 998, which is classified generally to chapter 1 (§ 1 et seq.) of Title 7, Agriculture. For complete classification of this Act to the Code, see section 1 of Title 7 and Tables.

The Federal Deposit Insurance Corporation Improvement Act of 1991, referred to in subsec. (e)(13)(C)(ii), is Pub. L. 102–242, Dec. 19, 1991, 105 Stat. 2236. Subtitle A of title IV of the Act is classified generally to subchapter I (§ 4401 et seq.) of chapter 45 of this title. For complete classification of this Act to the Code, see Short Title of 1991 Amendment note set out under section 1811 of this title and Tables.

Section 1008 of title 18, referred to in subsec. (p)(2)(A), was repealed by Pub. L. 101–73, title IX, § 961(g)(1), Aug. 9, 1989, 103 Stat. 500.

Codification

Codification

Amendments to subsec. (m) of this section by section 1604(a)(4)(J)(ii) of Pub. L. 110–289 were executed before amendments by section 1604(a)(4)(E) of Pub. L. 110–289, to reflect the probable intent of Congress.

Amendments to subsec. (n) of this section by section 1604(a)(5)(I) of Pub. L. 110–289 were executed before amendments by section 1604(a)(5)(E) and (G) of Pub. L. 110–289, to reflect the probable intent of Congress.

Amendments to subsec. (n) of this section by section 1604(a)(5)(O)(iv) and (P)(ii) of Pub. L. 110–289 were executed before amendments by section 1604(a)(5)(D) of Pub. L. 110–289, to reflect the probable intent of Congress.

Prior Provisions

Prior Provisions

Section is derived from subsec. (l) of former section 264 of this title. See Codification note set out under section 1811 of this title.

Amendments

Amendments

2012—Subsec. (t)(2)(A)(vi). Pub. L. 112–215 added cl. (vi).

2010—Subsec. (a)(1)(B). Pub. L. 111–203, § 343(a)(3)(A)(i), substituted “The net amount” for “(i) In general.—Subject to clause (ii), the net amount”.

Pub. L. 111–203, § 343(a)(1)(A), designated existing provisions as cl. (i), inserted heading, substituted “Subject to clause (ii), the net amount” for “The net amount”, and added cls. (ii) and (iii).

Subsec. (a)(1)(B)(ii). Pub. L. 111–203, § 343(a)(3)(A)(ii), struck out cl. (ii) which related to insurance for noninterest-bearing transaction accounts.

Subsec. (a)(1)(B)(iii). Pub. L. 111–343 substituted “means—” for “means a deposit” in introductory provisions, inserted “(I) a deposit” before “or account maintained”, redesignated former subcls. (I) to (III) as items (aa) to (cc) of subcl. (I), and added subcl. (II).

Pub. L. 111–203, § 343(a)(3)(A)(ii), struck out cl. (iii), which defined “noninterest-bearing transaction account”.

Subsec. (a)(1)(C). Pub. L. 111–203, § 343(a)(3)(B), substituted “subparagraph (B)” for “subparagraph (B)(i)”.

Pub. L. 111–203, § 343(a)(1)(B), substituted “subparagraph (B)(i)” for “subparagraph (B)”.

Subsec. (a)(1)(E). Pub. L. 111–203, § 335(a), substituted “$250,000,” for “$100,000,” and inserted at the end “Notwithstanding any other provision of law, the increase in the standard maximum deposit insurance amount to $250,000 shall apply to depositors in any institution for which the Corporation was appointed as receiver or conservator on or after January 1, 2008, and before October 3, 2008. The Corporation shall take such actions as are necessary to carry out the requirements of this section with respect to such depositors, without regard to any time limitations under this chapter. In implementing this and the preceding 2 sentences, any payment on a deposit claim made by the Corporation as receiver or conservator to a depositor above the standard maximum deposit insurance amount in effect at the time of the appointment of the Corporation as receiver or conservator shall be deemed to be part of the net amount due to the depositor under subparagraph (B).”

Subsec. (c)(2)(A)(ii). Pub. L. 111–203, § 363(5)(A)(i), struck out “(other than section 1441a of this title)” before period at end.

Subsec. (c)(4). Pub. L. 111–203, § 363(5)(A)(ii), substituted “Notwithstanding” for “Except as otherwise provided in section 1441a of this title and notwithstanding” in introductory provisions.

Subsec. (c)(6). Pub. L. 111–203, § 363(5)(A)(iii)(I), substituted “Comptroller of the Currency” for “Director of the Office of Thrift Supervision” in heading.

Subsec. (c)(6)(A). Pub. L. 111–203, § 363(5)(A)(iii)(II), struck out “or the Resolution Trust Corporation” before “may, at the discretion” and substituted “Comptroller of the Currency” for “Director of the Office of Thrift Supervision”.

Subsec. (c)(6)(B). Pub. L. 111–203, § 363(5)(A)(iii)(III), amended subpar. (B) generally. Prior to amendment, subpar. (B) related to appointment of the Corporation or the Resolution Trust Corporation as receiver under subpar. (A) or (C) of section 1464(d)(2) of this title for the purpose of liquidation or winding up any savings association’s affairs.

Subsec. (c)(12)(A). Pub. L. 111–203, § 363(5)(A)(iv), struck out “or the Resolution Trust Corporation” before “as conservator”.

Subsec. (d)(17)(A), (18)(B). Pub. L. 111–203, § 363(5)(B), struck out “or the Director of the Office of Thrift Supervision” after “Comptroller of the Currency”.

Subsec. (m)(9), (16), (18). Pub. L. 111–203, § 363(5)(C), struck out “or the Director of the Office of Thrift Supervision, as appropriate” after “Comptroller of the Currency” wherever appearing.

Subsec. (n)(1)(A). Pub. L. 111–203, § 363(5)(D)(i), substituted “insured banks or” for “insured banks, or the Director of the Office of Thrift Supervision, with respect to” and “applicable,” for “applicable,,”.

Subsec. (n)(2)(A). Pub. L. 111–203, § 363(5)(D)(ii), struck out “or the Director of the Office of Thrift Supervision” before “as a bridge” in introductory provisions.

Subsec. (n)(4)(D), (G). Pub. L. 111–203, § 363(5)(D)(iii), (iv), struck out “and the Director of the Office of Thrift Supervision, as appropriate,” after “Comptroller of the Currency”.

Subsec. (n)(12)(B). Pub. L. 111–203, § 363(5)(D)(v), inserted “as” after “shall appoint the Corporation” and struck out “or the Director of the Office of Thrift Supervision, as appropriate,” after “Comptroller of the Currency” in two places.

Subsec. (p)(2)(B). Pub. L. 111–203, § 363(5)(E)(i), substituted “or the Corporation,” for “the Corporation, the FSLIC Resolution Fund, or the Resolution Trust Corporation,”.

Subsec. (p)(3)(B). Pub. L. 111–203, § 363(5)(E)(ii), struck out “, the FSLIC Resolution Fund, the Resolution Trust Corporation,” before “or the Corporation.”

Subsec. (r). Pub. L. 111–203, § 363(5)(F), struck out “and the Resolution Trust Corporation” before “, as conservator” in introductory provisions.

2008—Subsec. (d)(2)(F). Pub. L. 110–289, § 1604(a)(1)(A), substituted “as receiver, with respect to any insured depository institution, organize a new depository institution under subsection (m) or a bridge depository institution under subsection (n).” for “as receiver—

“(i) with respect to savings associations and by application to the Director of the Office of Thrift Supervision, organize a new Federal savings association to take over such assets or such liabilities as the Corporation may determine to be appropriate; and

“(ii) with respect to any insured bank, organize a new national bank under subsection (m) of this section or a bridge bank under subsection (n) of this section.”

Subsec. (d)(2)(G)(ii). Pub. L. 110–289, § 1604(a)(1)(B), substituted “new depository institution or a bridge depository institution” for “new bank or a bridge bank”.

Subsec. (e)(10)(C). Pub. L. 110–289, § 1604(a)(2), substituted “bridge depository institutions” for “bridge banks” in heading.

Subsec. (e)(10)(C)(i). Pub. L. 110–289, § 1604(a)(3), substituted “bridge depository institution” for “bridge bank”.

Subsec. (m). Pub. L. 110–289, § 1604(a)(4)(A)–(E), substituted “depository institutions” for “banks” in heading, “the insured depository institution in default to” for “the bank in default to” in par. (1), “the insured depository institution in default, and” for “the bank in default, and” in par. (11), “insured depository institution” for “insured bank” wherever appearing in pars. (1), (11)(A), (13), and (15)(B), and “new depository institution” for “new bank” and “such depository institution” for “such bank” wherever appearing in text. See Codification note above.

Subsec. (m)(1). Pub. L. 110–289, § 1604(a)(4)(F), inserted “or Federal savings association” after “national bank”.

Subsec. (m)(6). Pub. L. 110–289, § 1604(a)(4)(G), substituted “only depository institution” for “only bank”.

Subsec. (m)(9). Pub. L. 110–289, § 1604(a)(4)(H), inserted “or the Director of the Office of Thrift Supervision, as appropriate” after “Comptroller of the Currency”.

Subsec. (m)(15)(A). Pub. L. 110–289, § 1604(a)(4)(I), struck out “, but in no event less than that required by section 51 of this title for the organization of a national bank in the place where such new bank is located” before period at end.

Subsec. (m)(16). Pub. L. 110–289, § 1604(a)(4)(j)(iii)–(v), inserted “or Federal savings association” after “national bank” wherever appearing and “or Federal savings associations” after “national banks” and substituted “Such depository institution” for “Such bank”.

Pub. L. 110–289, § 1604(a)(4)(J)(ii), substituted “the depository institution” for “the bank” in two places. See Codification note above.

Pub. L. 110–289, § 1604(a)(4)(J)(i), inserted “or the Director of the Office of Thrift Supervision, as appropriate,” after “Comptroller of the Currency” in two places.

Subsec. (m)(18). Pub. L. 110–289, § 1604(a)(4)(K), inserted “or the Director of the Office of Thrift Supervision, as appropriate,” after “Comptroller of the Currency” in two places.

Subsec. (n). Pub. L. 110–289, § 1604(a)(5)(A)–(I), in heading substituted “depository institutions” for “banks” and in text substituted, wherever appearing, “bridge depository institution” for “bridge bank”, “bridge depository institutions” for “bridge banks” except in par. (1)(A), “bridge depository institution’s” for “bridge bank’s”, “insured depository institution” for “insured bank” in pars. (2), (3), (4)(I), (7), and (8)(B), “insured depository institutions” for “insured banks”, “such depository institution” for “such bank” except in par. (4)(J), “the depository institution” for “the bank”, and “depository institution or institutions” for “bank or banks”. See Codification note above.

Subsec. (n)(1)(A). Pub. L. 110–289, § 1604(a)(5)(J), inserted “, with respect to 1 or more insured banks, or the Director of the Office of Thrift Supervision, with respect to 1 or more insured savings associations,” after “Comptroller of the Currency”, “or Federal savings associations, as appropriate,” after “national banks”, and “or Federal savings associations, as applicable,” after “banking associations”, and substituted “as ‘bridge depository institutions’ ” for “as bridge banks”.

Subsec. (n)(1)(B)(i). Pub. L. 110–289, § 1604(c), struck out “, except that if any insured deposits are assumed, all insured deposits shall be assumed by the bridge bank or another insured depository institution” before semicolon at end.

Pub. L. 110–289, § 1604(a)(5)(K), struck out “of a bank” after “any insured deposits” and “of that bank” after “all insured deposits”.

Subsec. (n)(1)(E). Pub. L. 110–289, § 1604(a)(5)(L), (M), inserted “or Federal savings association” after “National bank” in heading and “, in the case of 1 or more insured banks, and as a Federal savings association, in the case of 1 or more insured savings associations” after “national bank” in text.

Subsec. (n)(2)(A). Pub. L. 110–289, § 1604(a)(5)(N)(i), (ii), inserted “or Federal savings association” after “national bank” and “or the Director of the Office of Thrift Supervision” after “Comptroller of the Currency” in introductory provisions.

Subsec. (n)(2)(B). Pub. L. 110–289, § 1604(a)(5)(N)(i), (iii), inserted “or Federal savings association” after “national bank” in heading and introductory provisions.

Subsec. (n)(4). Pub. L. 110–289, § 1604(a)(5)(O)(i), inserted “or Federal savings association, as appropriate” after “national bank” in introductory provisions.

Subsec. (n)(4)(C). Pub. L. 110–289, § 1604(a)(5)(O)(ii), substituted “under any” for “under section 51 of this title or any other”.

Subsec. (n)(4)(D). Pub. L. 110–289, § 1604(a)(5)(O)(iv), substituted “depository institution’s” for “bank’s”. See Codification note above.

Pub. L. 110–289, § 1604(a)(5)(O)(iii), inserted “and the Director of the Office of Thrift Supervision, as appropriate,” after “Comptroller of the Currency”.

Subsec. (n)(4)(G). Pub. L. 110–289, § 1604(a)(5)(O)(iii), inserted “and the Director of the Office of Thrift Supervision, as appropriate,” after “Comptroller of the Currency”.

Subsec. (n)(4)(H). Pub. L. 110–289, § 1604(a)(5)(O)(v), substituted “a depository institution in default” for “a bank in default”.

Subsec. (n)(5)(D). Pub. L. 110–289, § 1604(d), added subpar. (D).

Subsec. (n)(8)(A). Pub. L. 110–289, § 1604(a)(5)(P)(i), substituted “the depository institutions” for “the banks”.

Subsec. (n)(8)(B). Pub. L. 110–289, § 1604(a)(5)(P)(ii), substituted “depository institution’s” for “bank’s”. See Codification note above.

Subsec. (n)(9), (10). Pub. L. 110–289, § 1604(a)(5)(Q), substituted “bridge depository institution” for “bridge bank” in heading.

Subsec. (n)(11)(A) to (C). Pub. L. 110–289, § 1604(a)(5)(R), inserted “or a Federal savings association, as the case may be,” after “national bank”.

Subsec. (n)(12). Pub. L. 110–289, § 1604(a)(5)(Q), substituted “bridge depository institution” for “bridge bank” in heading.

Subsec. (n)(12)(B). Pub. L. 110–289, § 1604(a)(5)(S), inserted “or the Director of the Office of Thrift Supervision, as appropriate,” after “Comptroller of the Currency” in two places and “or Federal savings associations, as appropriate” after “national banks”.

Subsec. (n)(13). Pub. L. 110–289, § 1604(a)(5)(Q), (T), substituted “bridge depository institutions” for “bridge banks” in heading and “single depository institution” for “single bank” in text.

Subsec. (t)(2)(A)(vii). Pub. L. 110–289, § 1161(i), added cl. (vii).

2006—Subsec. (a)(1)(B). Pub. L. 109–171, § 2103(a)(1), added subpar. (B) and struck out heading and text of former subpar. (B). Text read as follows: “The net amount due to any depositor at an insured depository institution shall not exceed $100,000 as determined in accordance with subparagraphs (C) and (D).”

Subsec. (a)(1)(D). Pub. L. 109–171, § 2103(b), amended heading and text of subpar. (D) generally. Prior to amendment, subpar. (D) provided that for the purpose of determining the amount of insurance due under subpar. (B), the Corporation was to provide deposit insurance coverage with respect to deposits accepted by any insured depository institution on a pro rata or “pass-through” basis to a participant in or beneficiary of an employee benefit plan, including any eligible deferred compensation plan described in section 457 of title 26.

Subsec. (a)(1)(E), (F). Pub. L. 109–171, § 2103(a)(2), added subpars. (E) and (F).

Subsec. (a)(2). Pub. L. 109–173, § 2(a), inserted par. (2) heading and substituted subpar. (A) and heading and introductory provisions of subpar. (B) for introductory provisions of former subpar. (A) which related to exception to limitation relating to the amount of deposit insurance available for the account of any one depositor, struck out concluding provisions of former subpar. (A) which related to the status of certain depositors under former provisions, redesignated former subpar. (B) as (C), inserted heading, and substituted “government depositor” for “depositor referred to in subparagraph (A) of this paragraph” in two places.

Subsec. (a)(3)(A). Pub. L. 109–171, § 2103(c), in concluding provisions substituted “$250,000 (which amount shall be subject to inflation adjustments as provided in paragraph (1)(F), except that $250,000 shall be substituted for $100,000 wherever such term appears in such paragraph)” for “$100,000”.

Subsec. (a)(4). Pub. L. 109–173, § 8(a)(11)(B), added par. (4) and struck out former par. (4) which set out general provisions relating to the Bank Insurance Fund and the Savings Association Insurance Fund.

Pub. L. 109–171, § 2102(b), repealed Pub. L. 104–208, § 2704(d)(1)–(3). See 1996 Amendment notes below.

Subsec. (a)(5) to (8). Pub. L. 109–173, § 8(a)(11)(C), (D), redesignated par. (8) as (5) and struck out former pars. (5) to (7), which related to the establishment and operations of the Bank Insurance Fund and Savings Association Insurance Fund and provisions applicable to maintenance of accounts.

Pub. L. 109–171, § 2102(b), repealed Pub. L. 104–208, § 2704(d)(6)(C). See 1996 Amendment notes below.

Subsec. (c)(5)(H)(iii). Pub. L. 109–173, § 8(a)(11)(A), substituted “Deposit Insurance Fund” for “deposit insurance fund”.

Subsec. (c)(7). Pub. L. 109–351, § 701(b), reenacted heading without change and amended text generally. Prior to amendment, text read as follows: “If the Corporation appoints itself as conservator or receiver under paragraph (4), the insured State depository institution may, within 30 days thereafter, bring an action in the United States district court for the judicial district in which the home office of such institution is located, or in the United States District Court for the District of Columbia, for an order requiring the Corporation to remove itself as such conservator or receiver, and the court shall, upon the merits, dismiss such action or direct the Corporation to remove itself as such conservator or receiver.”

Subsec. (c)(10). Pub. L. 109–173, § 8(a)(11)(A), substituted “Deposit Insurance Fund” for “deposit insurance fund” in heading and cls. (i) and (ii) of subpar. (B).

Subsec. (d)(15)(D). Pub. L. 109–351, § 722(a), designated existing provisions as cl. (i), inserted heading, substituted “Except as provided in clause (ii), after the end of the 6-year period” for “After the end of the 6-year period”, and added cl. (ii).

Subsec. (e)(8)(D)(ii)(I). Pub. L. 109–390, § 2(a)(1)(A), substituted “a mortgage loan,” for “a mortgage loan, or” after “certificate of deposit,” and inserted before semicolon at end “(whether or not such repurchase or reverse repurchase transaction is a ‘repurchase agreement’, as defined in clause (v))”.

Subsec. (e)(8)(D)(ii)(IV). Pub. L. 109–390, § 2(a)(1)(B), inserted “(including by novation)” after “the guarantee” and “(whether or not such settlement is in connection with any agreement or transaction referred to in subclauses (I) through (XII) (other than subclause (II))” before semicolon at end.

Subsec. (e)(8)(D)(ii)(VI) to (VIII). Pub. L. 109–390, § 2(a)(1)(D), (E), added subcls. (VI) and (VII) and redesignated former subcl. (VI) as (VIII). Former subcls. (VII) and (VIII) redesignated (IX) and (X), respectively.

Subsec. (e)(8)(D)(ii)(IX). Pub. L. 109–390, § 2(a)(1)(D), redesignated subcl. (VII) as (IX). Former subcl. (IX) redesignated (XI).

Pub. L. 109–390, § 2(a)(1)(C), substituted “(VIII), (IX), or (X)” for “or (VIII)” in two places.

Subsec. (e)(8)(D)(ii)(X) to (XII). Pub. L. 109–390, § 2(a)(1)(D), redesignated subcls. (VIII) to (X) as (X) to (XII), respectively.

Subsec. (e)(8)(D)(iv)(I). Pub. L. 109–390, § 2(b)(1), substituted “or reverse repurchase transaction (whether or not such repurchase or reverse repurchase transaction is a ‘repurchase agreement’, as defined in clause (v))” for “transaction, reverse repurchase transaction”.

Subsec. (e)(8)(D)(vi). Pub. L. 109–390, § 2(c)(1)(C), substituted in concluding provisions “the Gramm-Leach-Bliley Act, the Legal Certainty for Bank Products Act of 2000, the securities laws (as such term is defined in section 3(a)(47) of the Securities Exchange Act of 1934) and the Commodity Exchange Act” for “the Securities Act of 1933, the Securities Exchange Act of 1934, the Public Utility Holding Company Act of 1935, the Trust Indenture Act of 1939, the Investment Company Act of 1940, the Investment Advisers Act of 1940, the Securities Investor Protection Act of 1970, the Commodity Exchange Act, the Gramm-Leach-Bliley Act, and the Legal Certainty for Bank Products Act of 2000”.

Subsec. (e)(8)(D)(vi)(I). Pub. L. 109–390, § 2(c)(1)(A), substituted “, precious metals, or other commodity” for “or precious metals” and “weather swap, option, future, or forward agreement; an emissions swap, option, future, or forward agreement; or an inflation swap, option, future, or forward agreement” for “or a weather swap, weather derivative, or weather option”.

Subsec. (e)(8)(D)(vi)(II). Pub. L. 109–390, § 2(c)(1)(B), inserted “or other derivatives” after “dealings in the swap” and substituted “future, option, or spot transaction” for “future, or option”.

Subsec. (e)(8)(D)(ix). Pub. L. 109–390, § 3(a), added cl. (ix).

Subsec. (e)(8)(G)(ii), (iii). Pub. L. 109–390, § 6(a), added cls. (ii) and (iii) and struck out former cl. (ii) which defined walkaway clause.

Subsec. (e)(13)(C). Pub. L. 109–351, § 718(a), added subpar. (C).

Subsec. (e)(15)(B)(i). Pub. L. 109–173, § 8(a)(11)(A), substituted “Deposit Insurance Fund” for “deposit insurance fund”.

Subsec. (f)(1). Pub. L. 109–173, § 8(a)(12), substituted period at end for “, except that—

“(A) all payments made pursuant to this section on account of a closed Bank Insurance Fund member shall be made only from the Bank Insurance Fund, and

“(B) all payments made pursuant to this section on account of a closed Savings Association Insurance Fund member shall be made only from the Savings Association Insurance Fund.”

Pub. L. 109–171, § 2102(b), repealed Pub. L. 104–208, § 2704(d)(14)(H). See 1996 Amendment note below.

Subsec. (f)(3) to (5). Pub. L. 109–351, § 721(a), added pars. (3) to (5) and struck out former pars. (3) to (5) which related to resolution of disputes, review of Corporation’s determination, and statute of limitations, respectively.

Subsec. (i)(3)(B), (C). Pub. L. 109–173, § 8(a)(13), redesignated subpar. (C) as (B), substituted “subparagraph (A)” for “subparagraphs (A) and (B)”, and struck out heading and text of former subpar. (B). Text read as follows: “If the depository institution in default is a Bank Insurance Fund member, the Corporation may only make such payments out of funds held in the Bank Insurance Fund. If the depository institution in default is a Savings Association Insurance Fund member, the Corporation may only make such payments out of funds held in the Savings Association Insurance Fund.”

Pub. L. 109–171, § 2102(b), repealed Pub. L. 104–208, § 2704(d)(14)(I). See 1996 Amendment note below.

Subsec. (m)(6). Pub. L. 109–173, § 2(c)(1), substituted “an amount equal to the standard maximum deposit insurance amount” for “$100,000”.

Subsec. (p)(2)(B). Pub. L. 109–173, § 8(a)(11)(A), (14), substituted “the Deposit Insurance Fund” for “any deposit insurance fund”.

Subsec. (t)(1). Pub. L. 109–351, § 724(1), inserted “, in any capacity,” after “A covered agency” in introductory provisions.

Subsec. (t)(2)(A)(i). Pub. L. 109–351, § 724(2)(A), struck out “appropriate” before “Federal banking agency”.

Subsec. (t)(2)(A)(ii) to (vi). Pub. L. 109–351, § 724(2)(B), (C), redesignated cls. (iii) to (vi) as (ii) to (v), respectively, and struck out former cl. (ii) which read as follows: “The Resolution Trust Corporation.”

2005—Subsec. (e)(8)(A). Pub. L. 109–8, § 901(h)(1)(A), substituted “paragraphs (9) and (10)” for “paragraph (10)” in introductory provisions and “such person has to cause the termination, liquidation, or acceleration” for “to cause the termination or liquidation” in cl. (i), added cl. (ii), and struck out former cl. (ii) which read as follows: “any right under any security arrangement relating to any contract or agreement described in clause (i); or”.

Subsec. (e)(8)(C)(i). Pub. L. 109–8, § 901(i)(1), inserted “section 91 of this title or any other Federal or State law relating to the avoidance of preferential or fraudulent transfers,” before “the Corporation”.

Subsec. (e)(8)(D). Pub. L. 109–8, § 901(a)(1)(A), substituted “subsection, the following definitions shall apply:” for “subsection—” in introductory provisions.

Subsec. (e)(8)(D)(i). Pub. L. 109–8, § 901(a)(1)(B), inserted “, resolution, or order” after “any similar agreement that the Corporation determines by regulation”.

Subsec. (e)(8)(D)(ii). Pub. L. 109–8, § 901(b)(1), reenacted heading without change and amended text generally. Prior to amendment, text read as follows: “The term ‘securities contract’—

“(I) has the meaning given to such term in section 741 of title 11, except that the term ‘security’ (as used in such section) shall be deemed to include any mortgage loan, any mortgage-related security (as defined in section 78c(a)(41) of title 15), and any interest in any mortgage loan or mortgage-related security; and

“(II) does not include any participation in a commercial mortgage loan unless the Corporation determines by regulation, resolution, or order to include any such participation within the meaning of such term.”

Subsec. (e)(8)(D)(iii). Pub. L. 109–8, § 901(c)(1), reenacted heading without change and amended text generally. Prior to amendment, text read as follows: “The term ‘commodity contract’ has the meaning given to such term in section 761 of title 11.”

Subsec. (e)(8)(D)(iv). Pub. L. 109–8, § 901(d)(1), reenacted heading without change and amended text generally. Prior to amendment, text read as follows: “The term ‘forward contract’ has the meaning given to such term in section 101 of title 11.”

Subsec. (e)(8)(D)(v). Pub. L. 109–8, § 901(e)(1), reenacted heading without change and amended text generally. Prior to amendment, text read as follows: “The term ‘repurchase agreement’—

“(I) has the meaning given to such term in section 101 of title 11, except that the items (as described in such section) which may be subject to any such agreement shall be deemed to include mortgage-related securities (as such term is defined in section 78c(a)(41) of title 15), any mortgage loan, and any interest in any mortgage loan; and

“(II) does not include any participation in a commercial mortgage loan unless the Corporation determines by regulation, resolution, or order to include any such participation within the meaning of such term.”

Subsec. (e)(8)(D)(vi). Pub. L. 109–8, § 901(f)(1), reenacted heading without change and amended text generally. Prior to amendment, text read as follows: “The term ‘swap agreement’—

“(I) means any agreement, including the terms and conditions incorporated by reference in any such agreement, which is a rate swap agreement, basis swap, commodity swap, forward rate agreement, interest rate future, interest rate option purchased, forward foreign exchange agreement, rate cap agreement, rate floor agreement, rate collar agreement, currency swap agreement, cross-currency rate swap agreement, currency future, or currency option purchased or any other similar agreement, and

“(II) includes any combination of such agreements and any option to enter into any such agreement.”

Subsec. (e)(8)(D)(vii). Pub. L. 109–8, § 905(a), amended heading and text of cl. (vii) generally. Prior to amendment, text read as follows: “Any master agreement for any agreements described in clause (vi)(I) together with all supplements to such master agreement shall be treated as 1 swap agreement.”

Subsec. (e)(8)(D)(viii). Pub. L. 109–8, § 901(g)(1), reenacted heading without change and amended text generally. Prior to amendment, text read as follows: “The term ‘transfer’ has the meaning given to such term in section 101 of title 11.”

Subsec. (e)(8)(E). Pub. L. 109–8, § 902(a)(1)(A), substituted “other than subsections (d)(9) and (e)(10)” for “other than paragraph (12) of this subsection, subsection (d)(9)” in introductory provisions.

Subsec. (e)(8)(E)(ii). Pub. L. 109–8, § 901(h)(1)(B), added cl. (ii) and struck out former cl. (ii) which read as follows: “any right under any security arrangement relating to such qualified financial contracts; or”.

Subsec. (e)(8)(F), (G). Pub. L. 109–8, § 902(a)(1)(B), added subpars. (F) and (G).

Subsec. (e)(8)(H). Pub. L. 109–8, § 908(a), added subpar. (H).

Subsec. (e)(9). Pub. L. 109–8, § 903(a)(1), reenacted heading without change and amended text generally. Prior to amendment, text related to transfer of qualified financial contracts, claims, and property of a depository institution in default.

Subsec. (e)(10)(A). Pub. L. 109–8, § 903(a)(2), substituted concluding provisions for former concluding provisions which read as follows: “the conservator or receiver shall use such conservator’s or receiver’s best efforts to notify any person who is a party to any such contract of such transfer by 12:00, noon (local time) on the business day following such transfer.”

Subsec. (e)(10)(B) to (D). Pub. L. 109–8, § 903(a)(3), added subpars. (B) and (C) and redesignated former subpar. (B) as (D).

Subsec. (e)(11). Pub. L. 109–8, § 904(a)(2), added par. (11). Former par. (11) redesignated (12).

Subsec. (e)(12). Pub. L. 109–8, § 904(a)(1), redesignated par. (11) as (12). Former par. (12) redesignated (13).

Subsec. (e)(12)(A). Pub. L. 109–8, § 902(a)(2), inserted “or the exercise of rights or powers by” after “the appointment of”.

Subsec. (e)(13) to (16). Pub. L. 109–8, § 904(a)(1), redesignated pars. (12) to (15) as (13) to (16), respectively.

Subsec. (e)(17). Pub. L. 109–8, § 904(a)(3), added par. (17).

2004—Subsec. (c)(2)(A)(i). Pub. L. 108–386, § 8(a)(4)(A), struck out “or District bank” after “Federal depository institution”.

Subsec. (c)(2)(A)(ii). Pub. L. 108–386, § 8(a)(4)(B), struck out “or District bank” after “Federal depository institution” and “or the code of law for the District of Columbia” before period at end.

Subsec. (c)(3)(A). Pub. L. 108–386, § 8(a)(4)(C), struck out “(other than a District depository institution)” after “State depository institution”.

Subsec. (t)(2)(A)(vi). Pub. L. 108–271 substituted “Government Accountability Office” for “General Accounting Office”.

2000—Subsec. (d)(10)(C). Pub. L. 106–569 added subpar. (C).

Subsecs. (v), (w)(1)(B)(ii). Pub. L. 106–400 made technical amendment to references in original act which appear in text as references to section 11302 of title 42.

1999—Subsec. (a)(4)(B). Pub. L. 106–102, § 117, substituted “to benefit any shareholder or affiliate (other than an insured depository institution that receives assistance in accordance with the provisions of this chapter) of” for “to benefit any shareholder of” in introductory provisions.

Subsec. (a)(5). Pub. L. 106–102, § 736(b)(2), amended Pub. L. 104–208, § 2704(d)(4), (6)(C). See 1996 Amendment notes below.

Subsec. (a)(6). Pub. L. 106–102, § 736(b)(2)(B), amended Pub. L. 104–208, § 2704(d)(6)(C)(i). See 1996 Amendment note below.

Subsec. (a)(6)(L). Pub. L. 106–102, § 736(a), struck out heading and text of subpar. (L). Text read as follows:

“(i) Establishment.—If, on January 1, 1999, the reserve ratio of the Savings Association Insurance Fund exceeds the designated reserve ratio, there is established a Special Reserve of the Savings Association Insurance Fund, which shall be administered by the Corporation and shall be invested in accordance with section 1823(a) of this title.

“(ii) Amounts in special reserve.—If, on January 1, 1999, the reserve ratio of the Savings Association Insurance Fund exceeds the designated reserve ratio, the amount by which the reserve ratio exceeds the designated reserve ratio shall be placed in the Special Reserve of the Savings Association Insurance Fund established by clause (i).

“(iii) Limitation.—The Corporation shall not provide any assessment credit, refund, or other payment from any amount in the Special Reserve of the Savings Association Insurance Fund.

“(iv) Emergency use of special reserve.—Notwithstanding clause (iii), the Corporation may, in its sole discretion, transfer amounts from the Special Reserve of the Savings Association Insurance Fund to the Savings Association Insurance Fund for the purposes set forth in paragraph (4), only if—

“(I) the reserve ratio of the Savings Association Insurance Fund is less than 50 percent of the designated reserve ratio; and

“(II) the Corporation expects the reserve ratio of the Savings Association Insurance Fund to remain at less than 50 percent of the designated reserve ratio for each of the next 4 calendar quarters.

“(v) Exclusion of special reserve in calculating reserve ratio.—Notwithstanding any other provision of law, any amounts in the Special Reserve of the Savings Association Insurance Fund shall be excluded in calculating the reserve ratio of the Savings Association Insurance Fund.”

Subsec. (a)(7), (8). Pub. L. 106–102, § 736(b)(2)(B), (C), amended Pub. L. 104–208, § 2704(d)(6)(C). See 1996 Amendment notes below.

1996—Subsec. (a)(4). Pub. L. 104–208, § 2704(d)(1)(C), which directed substitution of “Establishment of the Deposit Insurance Fund” for “General provisions relating to funds” in heading, was repealed by Pub. L. 109–171. See Effective Date of 1996 Amendment note below and 2006 Amendment note above.

Subsec. (a)(4)(A) to (C). Pub. L. 104–208, § 2704(d)(1)(A), (B), (2), which directed striking out subpar. (A), redesignating subpar. (B) as (C) and substituting “Deposit Insurance Fund” for “Bank Insurance Fund and the Savings Association Insurance Fund” in introductory provisions, and adding new subpars. (A) and (B), was repealed by Pub. L. 109–171. See Effective Date of 1996 Amendment note below and 2006 Amendment note above.

Subsec. (a)(4)(D). Pub. L. 104–208, § 2704(d)(3), which directed adding subpar. (D), was repealed by Pub. L. 109–171. See Effective Date of 1996 Amendment note below and 2006 Amendment note above.

Subsec. (a)(5). Pub. L. 104–208, § 2704(d)(6)(C), as amended by Pub. L. 106–102, § 736(b)(2)(B), (C), which directed striking out par. (5) and redesignating par. (8) as (5), was repealed by Pub. L. 109–171. See Effective Date of 1996 Amendment note below and 2006 Amendment note above.

Pub. L. 104–208, § 2704(d)(4), which directed general amendment of par. (5), was repealed by Pub. L. 106–102, § 736(b)(2)(A).

Subsec. (a)(6). Pub. L. 104–208, § 2704(d)(6)(C)(i), as amended by Pub. L. 106–102, § 736(b)(2)(B), which directed striking out par. (6), was repealed by Pub. L. 109–171. See Effective Date of 1996 Amendment note below and 2006 Amendment note above.

Subsec. (a)(6)(L). Pub. L. 104–208, § 2705, added subpar. (L).

Subsec. (a)(7), (8). Pub. L. 104–208, § 2704(d)(6)(C), as amended by Pub. L. 106–102, § 736(b)(2)(B), (C), which directed striking out par. (7) and redesignating par. (8) as (5), was repealed by Pub. L. 109–171. See Effective Date of 1996 Amendment note below and 2006 Amendment note above.

Subsec. (d)(20). Pub. L. 104–208, § 2602, added par. (20).

Subsec. (f)(1). Pub. L. 104–208, § 2704(d)(14)(H), which directed substitution of a period for “, except that—” and subpars. (A) and (B), was repealed by Pub. L. 109–171. See Effective Date of 1996 Amendment note below and 2006 Amendment note above.

Subsec. (i)(3)(B), (C). Pub. L. 104–208, § 2704(d)(14)(I), which directed striking out subpar. (B) and redesignating subpar. (C) as (B) and substituting “subparagraph (A)” for “subparagraphs (A) and (B)”, was repealed by Pub. L. 109–171. See Effective Date of 1996 Amendment note below and 2006 Amendment note above.

Subsec. (t)(2)(A)(vi). Pub. L. 104–316 added cl. (vi).

1994—Subsec. (a)(4). Pub. L. 103–325, § 602(a)(21), substituted “provisions” for “Provisions” in heading.

Subsec. (c)(5)(M). Pub. L. 103–325, § 411(c)(2)(A), substituted “section 5322 or 5324 of title 31” for “section 5322 of title 31”.

Subsec. (d)(2)(B)(iii). Pub. L. 103–325, § 602(a)(22), substituted “are consistent” for “is consistent”.

Subsec. (d)(8)(B)(ii). Pub. L. 103–325, § 602(a)(23), inserted “provide” before “a statement”.

Subsec. (d)(14)(B). Pub. L. 103–325, § 602(a)(24), substituted “statute of limitations” for “statute of limitation”.

Subsec. (d)(14)(C). Pub. L. 103–328 added subpar. (C).

Subsec. (d)(16)(B)(iv). Pub. L. 103–325, § 602(a)(25), substituted “disposition” for “dispositions”.

Subsec. (e)(8)(D). Pub. L. 103–394 substituted “section 741” for “section 741(7)” in cl. (ii)(I), “section 761” for “section 761(4)” in cl. (iii), “section 101” for “section 101(24)” in cl. (iv), “section 101” for “section 101(41)” in cl. (v)(I), and “section 101” for “section 101(50)” in cl. (viii).

Subsec. (e)(8)(D)(v)(I). Pub. L. 103–325, § 602(a)(26), substituted “title 15),” for “title 15,”.

Subsec. (e)(12)(B). Pub. L. 103–325, § 602(a)(27), substituted “director’s or officer’s” for “directors or officers”.

Subsec. (e)(14), (15). Pub. L. 103–325, § 325, added pars. (14) and (15).

Subsec. (f)(3)(A). Pub. L. 103–325, § 602(a)(28), substituted “with” for “to” in heading.

Subsec. (i)(3)(A). Pub. L. 103–325, § 602(a)(29), substituted “other claimant or category of claimants” for “other claimant or category or claimants” in second sentence.

Subsec. (n)(4)(E)(i). Pub. L. 103–325, § 602(a)(30), inserted “and” at end.

Subsec. (n)(12)(A). Pub. L. 103–325, § 602(a)(31), substituted “subparagraph” for “subparagraphs”.

Subsec. (q)(1). Pub. L. 103–325, § 602(a)(32), substituted “held” for “decided” in second sentence.

Subsec. (u)(3)(B). Pub. L. 103–325, § 602(a)(33), substituted “section 1831q(p) of this title” for “subsection (c)(9)”.

1993—Subsec. (a)(1)(C). Pub. L. 103–204, § 38(b), substituted “paragraph (1) or (2) of section 1817(i) of this title or any funds described in section 1817(i)(3) of this title” for “section 1817(i)(1) of this title”.

Subsec. (a)(4). Pub. L. 103–204, § 11, substituted “Provisions” for “provision” in heading, and amended text generally. Prior to amendment, text read as follows: “The Bank Insurance Fund established under paragraph (5) and the Savings Association Insurance Fund established under paragraph (6) shall each be—

“(A) maintained and administered by the Corporation;

“(B) maintained separately and not commingled; and

“(C) used by the Corporation to carry out its insurance purposes in the manner provided in this subsection.”

Subsec. (a)(6)(D) to (F). Pub. L. 103–204, § 8(a)–(c), amended subpars. (D) to (F) generally. Prior to amendment, subpars. (D) to (F) related to the availability of funds for administrative expenses, Treasury payments to the Fund, and Treasury payments to maintain the net worth of the Fund, respectively.

Subsec. (a)(6)(G). Pub. L. 103–204, § 8(i), substituted “subparagraph (D)” for “subparagraphs (E) and (F)” in heading and text.

Subsec. (a)(6)(H). Pub. L. 103–204, § 8(d), amended subpar. (H) generally. Prior to amendment, subpar. (H) read as follows: “Discretionary rtc payments.—If amounts available to the Savings Association Insurance Fund for purposes other than the payment of administrative expenses are insufficient for the Savings Association Insurance Fund to carry out the purposes of this chapter, the Corporation may request the Resolution Trust Corporation to provide, and the Thrift Depositor Protection Oversight Board of the Resolution Trust Corporation (in the discretion of the Thrift Depositor Protection Oversight Board) may pay, such amount as may be needed for such purposes.”

Subsec. (a)(6)(J). Pub. L. 103–204, § 8(e), substituted “Subject to subparagraph (E), there are” for “There are” and “of subparagraph (D) for fiscal years 1994 through 1998, except that the aggregate amount appropriated pursuant to this authorization may not exceed $8,000,000,000.” for “of this paragraph, except that—

“(i) the annual amount appropriated under subparagraph (F) shall not exceed $2,000,000,000 in either fiscal year 1992 or fiscal year 1993; and

“(ii) the cumulative amount appropriated under subparagraph (F) for fiscal years 1992 through 2000 shall not exceed $16,000,000,000.”

Subsec. (a)(6)(K). Pub. L. 103–204, § 8(f), added subpar. (K).

Subsec. (c)(6)(B)(i). Pub. L. 103–204, § 27(b)(1), substituted “such date as is determined by the Chairperson of the Thrift Depositor Protection Oversight Board under section 1441a(b)(3)(A)(ii) of this title” for “October 1, 1993”.

Subsec. (c)(6)(B)(ii). Pub. L. 103–204, § 27(b)(2), (3), substituted “on or after the date determined by the Chairperson of the Thrift Depositor Protection Oversight Board under section 1441a(b)(3)(A)(ii) of this title” for “after September 30, 1993” and “before such date” for “on or before such date”.

Subsec. (c)(6)(B)(iii). Pub. L. 103–204, § 27(b)(2), substituted “on or after the date determined by the Chairperson of the Thrift Depositor Protection Oversight Board under section 1441a(b)(3)(A)(ii) of this title” for “after September 30, 1993”.

Subsec. (c)(13). Pub. L. 103–66, § 3001(b)(1), in subpar. (A) struck out “subject to subparagraph (B),” before “this section shall” and inserted “and” at end, redesignated subpar. (C) as (B), and struck out former subpar. (B) which read as follows: “the Corporation shall apply the law of the State in which the institution is chartered insofar as that law gives the claims of depositors priority over those of other creditors or claimants; and”.

Subsec. (d)(2)(K). Pub. L. 103–204, § 3(d), inserted “legal,” after “auction marketing,” and substituted “only if” for “if” and “the most practicable” for “practicable”.

Subsec. (d)(11). Pub. L. 103–66, § 3001(a), amended par. (11) generally, substituting present provisions for former provisions relating to distribution of assets, which consisted of a subpar. (A) relating to subrogated claims and claims of uninsured depositors and other creditors and a subpar. (B) relating to distribution to shareholders of amounts remaining after payment of all other claims and expenses.

Subsec. (d)(14)(A)(ii). Pub. L. 103–204, 4(b), inserted “(other than a claim which is subject to section 1441a(b)(14) of this title)” after “any tort claim”.

Subsec. (g)(4). Pub. L. 103–66, § 3001(b)(2), substituted “Subject to subsection (d)(11) of this section, if” for “If”.

Subsec. (p). Pub. L. 103–204, § 20, in heading, substituted “Certain sales of assets prohibited” for “Certain convicted debtors prohibited from purchasing assets”, added par. (1), redesignated former pars. (1) and (2) as pars. (2) and (3), respectively, in par. (2) substituted “paragraph (3)” for “paragraph (2)” and “person” for “individual”, in par. (3) substituted “Paragraphs (1) and (2)” for “Paragraph (1)” and “person” for “individual”, wherever appearing, and added par. (4).

Subsec. (u). Pub. L. 103–204, § 15(b), added subsec. (u).

Subsec. (v). Pub. L. 103–204, § 16(b), added subsec. (v).

Subsec. (w). Pub. L. 103–204, § 17(b), added subsec. (w).

1992—Subsec. (c)(5)(M). Pub. L. 102–550, § 1501(a), added subpar. (M).

Subsec. (c)(6)(B). Pub. L. 102–550, § 1611(b)(2), substituted “subparagraph (A) or (C) of section 1464(d)(2) of this title” for “subparagraph (C) or (F) of section 1464(d)(2) of this title”.

Pub. L. 102–550, § 1611(b)(1), substituted “subparagraph (C) or (F) of section 1464(d)(2) of this title” for “section 1464(d)(2)(C) of this title”.

Subsec. (d)(2)(B), (E). Pub. L. 102–550, § 1604(c)(2), made technical amendment to reference to section 1831q of this title to reflect change in reference to corresponding section of original act.

Subsec. (d)(4)(A). Pub. L. 102–550, § 1606(c), substituted “determination” for “determinations” after “administrative”.

Subsec. (d)(5)(D)(iii)(I). Pub. L. 102–550, § 1603(e)(1), substituted “insured depository institution” for “institution described in paragraph (3)(A)”.

Subsec. (t). Pub. L. 102–550, § 1544, added subsec. (t).

1991—Subsec. (a)(1). Pub. L. 102–242, § 311(b)(1), added par. (1) and struck out former par. (1) which read as follows: “The Corporation shall insure the deposits of all insured depository institutions as provided in this chapter. The maximum amount of the insured deposit of any depositor shall be $100,000.”

Subsec. (a)(2)(A). Pub. L. 102–242, § 311(b)(5)(B), in closing provisions, substituted “such depositor shall, for the purpose of determining the amount of insured deposits under this subsection, be deemed a depositor in such custodial capacity separate and distinct from any other officer, employee, or agent of the United States or any public unit referred to in clause (ii), (iii), (iv), or (v) and the deposit of any such depositor shall be insured in an amount not to exceed $100,000 per account” for “his deposit shall be insured” before “in an amount not to exceed $100,000 per account.”

Subsec. (a)(2)(B). Pub. L. 102–242, § 311(b)(5)(C), substituted “(B)” for “(b)” as subpar. designation.

Subsec. (a)(3). Pub. L. 102–242, § 311(b)(2), amended par. (3) generally. Prior to amendment, par. (3) read as follows: “Notwithstanding any limitation in this chapter or in any other provision of law relating to the amount of deposit insurance available for the account of any one depositor, time and savings deposits in an insured depository institution made pursuant to a pension or profit-sharing plan described in section 401(d) of title 26, or made in the form of individual retirement accounts as described in section 408(a) of title 26, shall be insured in the amount of $100,000 per account. As to any plan qualifying under section 401(d) or section 408(a) of title 26, the term ‘per account’ means the present vested and ascertainable interest of each beneficiary under the plan, excluding any remainder interest created by, or as a result of, the plan.”

Subsec. (a)(6)(E). Pub. L. 102–233, § 202(a), substituted “1993” for “1992” and “2000” for “1999”.

Subsec. (a)(6)(J). Pub. L. 102–233, § 202(b), substituted “1992” for “1991” and “1993” for “1992” in cl. (i), and “1992” for “1991” and “2000” for “1999” in cl. (ii).

Subsec. (a)(8). Pub. L. 102–242, § 311(a)(1), added par. (8).

Subsec. (c)(5). Pub. L. 102–242, § 133(a), amended par. (5) generally, revising and restating as subpars. (A) to (L) provisions of former subpars. (A) to (H).

Subsec. (c)(6)(B). Pub. L. 102–233, § 102, amended subpar. (B) generally. Prior to amendment, subpar. (B) read as follows: “Whenever the Director of the Office of Thrift Supervision appoints a receiver under the provisions of section 1464(d)(2)(C) of this title for the purpose of liquidation or winding up any savings association’s affairs—

“(i) during the 3-year period beginning on August 9, 1989, the Resolution Trust Corporation shall be appointed; and

“(ii) after the end of the 3-year period referred to in clause (i), the Corporation shall be appointed.”

Subsec. (c)(9). Pub. L. 102–242, § 133(e), amended par. (9) generally. Prior to amendment, par. (9) read as follows: “In any case in which the Corporation is appointed conservator or receiver pursuant to paragraph (4) or (6)—

“(A) the provisions of this section shall be applicable to the Corporation, as conservator or receiver of any insured State depository institution in the same manner and to the same extent as if such institution were a Federal depository institution for which the Corporation had been appointed conservator or receiver; and

“(B) the Corporation as receiver of any insured State depository institution may—

“(i) liquidate such institution in an orderly manner; and

“(ii) make such other disposition of any matter concerning such institution as the Corporation determines is in the best interests of the institution, the depositors of such institution, and the Corporation.”

Subsec. (c)(10) to (13). Pub. L. 102–242, § 133(e), added pars. (10) to (13).

Subsec. (d)(2)(B). Pub. L. 102–242, § 241(c)(1)(A), inserted “(subject to the provisions of section 1831q of this title)” before comma in introductory provisions.

Subsec. (d)(2)(E). Pub. L. 102–242, § 241(c)(1)(B), inserted “(subject to the provisions of section 1831q of this title)” before first comma.

Subsec. (d)(2)(K). Pub. L. 102–242, § 426, added subpar. (K).

Subsec. (d)(3)(A). Pub. L. 102–242, § 161(a)(1), substituted “paragraph (4)” for “paragraph (4)(A)”.

Subsec. (d)(4). Pub. L. 102–242, § 416, amended par. (4) generally. Prior to amendment, par. (4) read as follows: “The Corporation may prescribe regulations regarding the allowance or disallowance of claims by the receiver and providing for administrative determination of claims and review of such determination.”

Subsec. (d)(5)(D). Pub. L. 102–242, § 141(b), amended subpar. (D) generally. Prior to amendment, subpar. (D) read as follows: “The receiver may disallow any portion of any claim by a creditor or claim of security, preference, or priority which is not proved to the satisfaction of the receiver.”

Subsec. (d)(11)(B). Pub. L. 102–242, § 161(a)(2), substituted “paragraph (15)(B)” for “paragraph (14)(C)”.

Subsec. (d)(13)(E). Pub. L. 102–242, § 123(a), added subpar. (E).

Subsec. (e)(3)(C)(ii), (4)(B)(iii). Pub. L. 102–242, § 161(a)(3), (4), substituted “subsection (i)” for “subsection (k)”.

Subsec. (e)(8)(A), (E). Pub. L. 102–242, § 161(a)(5), substituted “subsection (d)(9) of this section” for “subsections (d)(9) and (i)(4)(I) of this section”.

Subsec. (h). Pub. L. 102–242, § 141(d)(2), substituted “resolution” for “liquidation” in heading.

Subsec. (h)(4). Pub. L. 102–242, § 141(d)(1), added par. (4).

Subsec. (i)(3)(A). Pub. L. 102–242, § 161(e), substituted “Notwithstanding any other provision of Federal or State law, or the constitution of any State, the” for “The”.

Subsec. (n)(9). Pub. L. 102–242, § 161(a)(6), substituted “paragraphs (11) and (12)” for “paragraphs (11) and (13)”.

Subsec. (n)(11)(D). Pub. L. 102–242, § 161(a)(7), substituted “paragraph (9)” for “paragraph (8)”.

Subsec. (s). Pub. L. 102–242, § 446, added subsec. (s).

1990—Subsec. (d)(2)(I), (J). Pub. L. 101–647, § 2534(a), added subpar. (I) and redesignated former subpar. (I) as (J).

Subsec. (d)(17). Pub. L. 101–647, § 2528(a), added par. (17).

Subsec. (d)(18), (19). Pub. L. 101–647, § 2521(a)(1), added pars. (18) and (19).

Subsec. (p). Pub. L. 101–647, § 2526(a), added subsec. (p).

Subsec. (q). Pub. L. 101–647, § 2527, added subsec. (q).

Subsec. (r). Pub. L. 101–647, § 2532(b), added subsec. (r).

1989—Subsec. (a)(1). Pub. L. 101–73, § 211(1), added par. (1) and struck out former par. (1) which read as follows: “The Temporary Federal Deposit Insurance Fund and the Fund for Mutuals heretofore created pursuant to the provisions of section 12B of the Federal Reserve Act, as amended, are consolidated into a Permanent Insurance Fund for insuring deposits, and the assets therein shall be held by the Corporation for the uses and purposes of the Corporation: Provided, That the obligations to and rights of the Corporation, depositors, banks, and other persons arising out of any event or transaction prior to September 21, 1950, shall remain unimpaired. On and after August 23, 1935, the Corporation shall insure the deposits of all insured banks as provided in this chapter: Provided further, That the insurance shall apply only to deposits of insured banks which have been made available since March 10, 1933, for withdrawal in the usual course of the banking business: Provided further, That if any insured bank shall, without the consent of the Corporation, release or modify restrictions on or deferments of deposits which had not been made available for withdrawal in the usual course of the banking business on or before August 23, 1935, such deposits shall not be insured. Except as provided in paragraph (2), the maximum amount of the insured deposit of any depositor shall be $100,000.”

Subsec. (a)(2)(A). Pub. L. 101–73, § 201(a), substituted “insured depository institution” for “insured bank” wherever appearing.

Subsec. (a)(2)(B). Pub. L. 101–73, § 211(2), struck out “time and savings” after “deposited in”.

Pub. L. 101–73, § 201(a), substituted “insured depository institution” for “insured bank”.

Subsec. (a)(3). Pub. L. 101–73, § 201(a), substituted “insured depository institution” for “insured bank”.

Subsec. (a)(4) to (7). Pub. L. 101–73, § 211(3), added pars. (4) to (7).

Subsec. (b). Pub. L. 101–73, § 201(a), substituted “insured depository institution” for “insured bank”.

Subsec. (c). Pub. L. 101–73, § 212(a), added subsec. (c) and struck out former subsec. (c) which related to Corporation as receiver.

Subsec. (d). Pub. L. 101–73, § 212(a), added subsec. (d) and struck out former subsec. (d) which related to powers and duties of Corporation as receiver.

Subsec. (e). Pub. L. 101–73, § 212(a), added subsec. (e) and struck out former subsec. (e) which related to Corporation as receiver of State banks.

Subsec. (f). Pub. L. 101–73, § 212(a), added subsec. (f) and struck out former subsec. (f) which related to payment of insured deposits of closed insured bank or insured branch of a foreign bank.

Subsec. (g). Pub. L. 101–73, § 212(a), added subsec. (g) and struck out former subsec. (g) which related to subrogation rights of Corporation in the case of a closed national bank, insured branch of a foreign bank, District bank, or closed insured Federal savings bank.

Subsec. (h). Pub. L. 101–73, § 212(a), added subsec. (h) and struck out former subsec. (h) which related to organization, etc., of new national banks upon closing of insured banks. See subsec. (m) of this section.

Subsec. (i). Pub. L. 101–73, § 212(a), added subsec. (i) and struck out former subsec. (i) which related to establishment, etc., of bridge banks. See subsec. (n) of this section.

Subsec. (j). Pub. L. 101–73, § 212(a), added subsec. (j) and struck out former subsec. (j) which related to conditions applicable to liquidation proceedings.

Subsecs. (k), (l). Pub. L. 101–73, § 212(a), added subsecs. (k) and (l).

Subsec. (m). Pub. L. 101–73, § 213, added subsec. (m).

Subsec. (n). Pub. L. 101–73, § 214, added subsec. (n).

Subsec. (o). Pub. L. 101–73, § 909, added subsec. (o).

1987—Subsec. (h). Pub. L. 100–86, § 503(a)(1), (2), designated existing provisions as par. (1) and redesignated former subsecs. (i) to (l) as pars. (2) to (5), respectively.

Subsec. (i). Pub. L. 100–86, § 503(a)(2), (3), added subsec. (i). Former subsec. (i) redesignated subsec. (h)(2) of this section.

Subsec. (j). Pub. L. 100–86, §§ 503(a)(2), 507, added subsec. (j). Former subsec. (j) redesignated subsec. (h)(3) of this section.

Subsecs. (k), (l). Pub. L. 100–86, § 503(a)(2), redesignated subsecs. (k) and (l) as pars. (4) and (5), respectively, of subsec. (h).

1986—Subsec. (a)(3). Pub. L. 99–514 substituted “Internal Revenue Code of 1986” for “Internal Revenue Code of 1954” wherever appearing, which for purposes of codification was translated as “title 26” thus requiring no change in text.

1982—Subsec. (c). Pub. L. 97–320, § 113(j), inserted provision relating to appointment of Corporation as receiver for an insured Federal savings bank by Federal Home Loan Bank Board.

Subsec. (g). Pub. L. 97–320, § 113(k), inserted “or closed insured Federal savings bank,” after “foreign bank, or District bank,”.

1981—Subsec. (a)(2)(A)(iv). Pub. L. 97–110 inserted “the Trust Territory of the Pacific Islands,” after “Virgin Islands, American Samoa,” and “of the Trust Territory of the Pacific Islands,” after “of American Samoa,”.

1980—Subsec. (a)(1). Pub. L. 96–221, § 308(a)(1)(C), substituted “$100,000” for “$40,000”.

Subsec. (i). Pub. L. 96–221, § 308(a)(1)(D), substituted “$100,000” for “$40,000”.

1979—Subsec. (a)(2)(A)(v). Pub. L. 96–153 added cl. (v).

1978—Subsec. (a)(3). Pub. L. 95–630 added par. (3).

Subsec. (c). Pub. L. 95–369, § 6(c)(17), inserted “insured Federal branch of a foreign bank” after “any insured national bank”.

Subsec. (e). Pub. L. 95–369, § 6(c)(18), (19), inserted “or any insured branch (other than a Federal branch) of a foreign bank” after “(except a District bank)”, and substituted “such insured State bank or insured branch of a foreign bank” for “such insured State bank”.

Subsec. (f). Pub. L. 95–369, § 6(c)(20), inserted “or insured branch of a foreign bank” after “Whenever an insured bank”.

Subsec. (g). Pub. L. 95–369, § 6(c)(21), (22), inserted “insured branch of a foreign bank” after “In the case of a closed national bank”, and substituted “In the case of any closed insured bank or closed insured branch of a foreign bank, such subrogation” for “In the case of any closed insured bank, such subrogation”.

1974—Subsec. (a). Pub. L. 93–495, §§ 101(a)(3), 102(a)(3), redesignated existing provisions as par. (1), inserted exception relating to applicability of par. (2), substituted “$40,000” for “$20,000’, and added par. (2).

Subsec. (i). Pub. L. 93–495, § 102(a)(4), substituted “$40,000” for “$20,000”.

1969—Subsec. (a). Pub. L. 91–151, § 7(a)(3), substituted $20,000 for $15,000 in last sentence.

Subsec. (i). Pub. L. 91–151, § 7(a)(4), substituted $20,000 for $15,000 in fifth sentence.

1966—Subsec. (a). Pub. L. 89–695, § 301(c), substituted in last sentence “$15,000” for “$10,000” and struck out “: And provided further, That in the case of banks closing prior to September 21, 1950, the maximum amount of the insured deposit of any depositor shall be $5,000”.

Subsec. (i). Pub. L. 89–695, § 301(d), substituted “$15,000” for “$10,000” in fifth sentence.

Change Of Name

Change of Name

Committee on Banking, Finance and Urban Affairs of House of Representatives treated as referring to Committee on Banking and Financial Services of House of Representatives by section 1(a) of Pub. L. 104–14, set out as a note preceding section 21 of Title 2, The Congress. Committee on Banking and Financial Services of House of Representatives abolished and replaced by Committee on Financial Services of House of Representatives, and jurisdiction over matters relating to securities and exchanges and insurance generally transferred from Committee on Energy and Commerce of House of Representatives by House Resolution No. 5, One Hundred Seventh Congress, Jan. 3, 2001.

Oversight Board redesignated Thrift Depositor Protection Oversight Board, effective Feb. 1, 1992, see section 302(a) of Pub. L. 102–233, formerly set out as a note under section 1441a of this title. Thrift Depositor Protection Oversight Board abolished, see section 14(a)–(d) of Pub. L. 105–216, formerly set out as a note under section 1441a of this title.

Effective Date Of Amendment

Effective Date of 2010 Amendment

Pub. L. 111–343, § 1(b), Dec. 29, 2010, 124 Stat. 3609, provided that: “The amendments made by subsection (a) [amending this section] shall take effect on December 31, 2010.”

Amendment by section 335(a) of Pub. L. 111–203 effective 1 day after July 21, 2010, except as otherwise provided, see section 4 of Pub. L. 111–203, set out as an Effective Date note under section 5301 of this title.

Pub. L. 111–203, title III, § 343(a)(2), July 21, 2010, 124 Stat. 1544, provided that: “The amendments made by paragraph (1) [amending this section] shall take effect on December 31, 2010.”

Pub. L. 111–203, title III, § 343(a)(3), July 21, 2010, 124 Stat. 1544, provided that the amendment made by section 343(a)(3) is effective Jan. 1, 2013.

Amendment by section 363(5) of Pub. L. 111–203 effective on the transfer date, see section 351 of Pub. L. 111–203, set out as a note under section 906 of Title 2, The Congress.

Effective Date of 2006 Amendment

Amendment by Pub. L. 109–390 not applicable to any cases commenced under Title 11, Bankruptcy, or to appointments made under any Federal or State law, before Dec. 12, 2006, see section 7 of Pub. L. 109–390, set out as a note under section 101 of Title 11.

Amendment by subsection 701(b) of Pub. L. 109–351 applicable with respect to conservators or receivers appointed on or after Oct. 13, 2006, see section 701(c) of Pub. L. 109–351, set out as a note under section 191 of this title.

Amendment by section 2(a), (c)(1) of Pub. L. 109–173 effective Apr. 1, 2006, see section 2(e) of Pub. L. 109–173, set out as a note under section 1785 of this title.

Amendment by section 8(a)(11)–(14) of Pub. L. 109–173 effective Mar. 31, 2006, see section 8(b) of Pub. L. 109–173, set out as a note under section 1813 of this title.

Amendment by section 2102(b) of Pub. L. 109–171 effective no later than the first day of the first calendar quarter that begins after the end of the 90-day period beginning Feb. 8, 2006, see section 2102(c) of Pub. L. 109–171, set out as a Merger of BIF and SAIF note below.

Pub. L. 109–171, title II, § 2103(d), Feb. 8, 2006, 120 Stat. 12, provided that: “This section [amending this section] and the amendments made by this section shall take effect on the date the final regulations required under section 9(a)(2) [probably means section 2109(a)(2) of Pub. L. 109–171, set out as a Regulations note under section 1817 of this title] take effect [Apr. 1, 2006, see 71 F.R. 14629].”

Effective Date of 2005 Amendment

Amendment by Pub. L. 109–8 effective 180 days after Apr. 20, 2005, and not applicable with respect to cases commenced under Title 11, Bankruptcy, before such effective date, except as otherwise provided, see section 1501 of Pub. L. 109–8, set out as a note under section 101 of Title 11.

Effective Date of 2004 Amendment

Amendment by Pub. L. 108–386 effective Oct. 30, 2004, and, except as otherwise provided, applicable with respect to fiscal year 2005 and each succeeding fiscal year, see sections 8(i) and 9 of Pub. L. 108–386, set out as notes under section 321 of this title.

Effective Date of 1999 Amendment

Amendment by section 117 of Pub. L. 106–102 effective 120 days after Nov. 12, 1999, see section 161 of Pub. L. 106–102, set out as a note under section 24 of this title.

Pub. L. 106–102, title VII, § 736(c), Nov. 12, 1999, 113 Stat. 1479, provided that: “This section [amending this section and provisions set out as a note under this section] and the amendments made by this section shall become effective on the date of the enactment of this Act [Nov. 12, 1999].”

Effective Date of 1996 Amendment

Pub. L. 104–208, div. A, title II, § 2704(c), Sept. 30, 1996, 110 Stat. 3009–487, which provided that section 2704 of div. A of Pub. L. 104–208 (amending this section, sections 24, 338a, 347b, 1431, 1441a, 1441b, 1464, 1467a, 1723i, 1735f–14, 1813, 1815 to 1817, 1821a, 1823 to 1825, 1827, 1828, 1831a, 1831e, 1831m, 1831o, 1833a, 1834, 1841, and 3341 of this title, and section 905 of Title 2, The Congress, repealing section 1831h of this title, and enacting provisions set out as notes under this section) was to become effective on Jan. 1, 1999, if no insured depository institution was a savings association on that date, was repealed by Pub. L. 109–171, title II, § 2102(b), (c), Feb. 8, 2006, 120 Stat. 9, eff. no later than the first day of the first calendar quarter that begins after the end of the 90-day period beginning Feb. 8, 2006.

Effective Date of 1994 Amendment

Amendment by Pub. L. 103–394 effective Oct. 22, 1994, and not applicable with respect to cases commenced under Title 11, Bankruptcy, before Oct. 22, 1994, see section 702 of Pub. L. 103–394, set out as a note under section 101 of Title 11.

Effective Date of 1993 Amendment

Pub. L. 103–66, title III, § 3001(c), Aug. 10, 1993, 107 Stat. 337, provided that: “The amendments made by this section [amending this section] shall apply with respect to insured depository institutions for which a receiver is appointed after the date of the enactment of this Act [Aug. 10, 1993].”

Effective Date of 1992 Amendment

Amendment by section 1501(a) of Pub. L. 102–550 effective Dec. 20, 1992, see section 1501(c) of Pub. L. 102–550, set out as a note under section 1786 of this title.

Amendment by sections 1603(e)(1), 1604(c)(2), and 1606(c) of Pub. L. 102–550 effective as if included in the Federal Deposit Insurance Corporation Improvement Act of 1991, Pub. L. 102–242, as of Dec. 19, 1991, except that where amendment is to any provision of law added or amended by Pub. L. 102–242 effective after Dec. 19, 1992, then amendment by Pub. L. 102–550 effective on effective date of amendment by Pub. L. 102–242, see section 1609 of Pub. L. 102–550, set out as a note under section 191 of this title.

Pub. L. 102–550, title XVI, § 1611(b)(2), Oct. 28, 1992, 106 Stat. 4090, provided that the amendment made by that section is effective one year after Dec. 19, 1991.

Effective Date of 1991 Amendment

Amendment by section 133(a), (e) of Pub. L. 102–242 effective 1 year after Dec. 19, 1991, see section 133(g) of Pub. L. 102–242, set out as a note under section 191 of this title.

Pub. L. 102–242, title III, § 311(c), Dec. 19, 1991, 105 Stat. 2366, provided that:“(1)In general.—Except as provided in paragraph (2), the amendments made by subsection (a) and paragraphs (2) and (3) of subsection (b) [amending this section and section 1817 of this title] shall take effect at the end of the 2-year period beginning on the date of the enactment of this Act [Dec. 19, 1991].“(2) Application to time deposits.—“(A)Certain deposits excluded.—Except with respect to the amendment referred to in paragraph (3), the amendments made by subsections (a) and (b) [amending this section and sections 1813 and 1817 of this title] shall not apply to any time deposit which—“(i) was made before the date of enactment of this Act [Dec. 19, 1991]; and“(ii) matures after the end of the 2-year period referred to in paragraph (1).“(B)Rollovers and renewals treated as new deposit.—Any renewal or rollover of a time deposit described in subparagraph (A) after the date of the enactment of this Act shall be treated as a new deposit which is not described in such subparagraph.“(3) Effective date for amendment relating to certain employee plans.—“(A) Section 11(a)(1)(B) of the Federal Deposit Insurance Act [12 U.S.C. 1821(a)(1)(B)] (as amended by subsection (b)(1) of this section) shall take effect on the earlier of—“(i) the date of the enactment of this Act [Dec. 19, 1991]; or“(ii)January 1, 1992.“(B) Section 11(a)(3)(A) of the Federal Deposit Insurance Act (as amended by subsection (b)(2) of this section) shall take effect on the earlier of the dates described in clauses (i) and (ii) of subparagraph (A) with respect to plans described in clause (ii) of such section.”

Effective Date of 1980 Amendment

Amendment by Pub. L. 96–221 effective Mar. 31, 1980, see section 308(e) of Pub. L. 96–221, set out as a note under section 1817 of this title.

Amendment by section 308(a)(1) of Pub. L. 96–221 not applicable to any claim arising out of the closing of a bank prior to the effective date of section 308 of Pub L. 96–221, see section 308(a)(2) of Pub. L. 96–221, set out as a note under section 1813 of this title.

Effective Date of 1979 Amendment

Amendment by Pub. L. 96–153 applicable only to claims arising after Dec. 21, 1979, with respect to a closing of a bank, etc., see section 323(e) of Pub. L. 96–153, set out as an Effective and Termination Dates of 1979 Amendment note under section 1757 of this title.

Effective Date of 1978 Amendment

Amendment by Pub. L. 95–630 effective Nov. 10, 1978, see section 1402 of Pub. L. 95–630, set out as a note under section 1787 of this title.

Effective Date of 1974 Amendment

Amendment by sections 101(a)(3) and 102(a)(3), (4) of Pub. L. 93–495 effective on thirtieth day beginning after Oct. 28, 1974, and amendment by section 102(a)(3), (4) of Pub. L. 93–495 not applicable to any claim arising out of the closing of any bank prior to such effective date, see sections 101(g) and 102(a)(3), (4) of Pub. L. 93–495, set out as a note under section 1813 of this title.

Effective Date of 1969 Amendment

Amendment by Pub. L. 91–151 not applicable to any claim arising out of the closing of a bank where such closing took place prior to Dec. 23, 1969, see section 7(b) of Pub. L. 91–151, set out as a note under section 1813 of this title.

Effective Date of 1966 Amendment

Amendment by Pub. L. 89–695 not applicable to any claim arising out of the closing of a bank where such closing is prior to Oct. 16, 1966, see section 301(e) of Pub. L. 89–695, set out as a note under section 1813 of this title.

Miscellaneous

Regulations

Pub. L. 102–242, title III, § 311(b)(4), Dec. 19, 1991, 105 Stat. 2365, provided that:“(A)Review of coverage.—For the purpose of prescribing regulations, during the 1-year period beginning on the date of the enactment of this Act [Dec. 19, 1991], the Board of Directors shall review the capacities and rights in which deposit accounts are maintained and for which deposit insurance coverage is provided by the Corporation.“(B)Regulations.—After the end of the 1-year period referred to in subparagraph (A), the Board of Directors may prescribe regulations that provide for separate insurance coverage for the different capacities and rights in which deposit accounts are maintained if a determination is made by the Board of Directors that such separate insurance coverage is consistent with—“(i) the purpose of protecting small depositors and limiting the undue expansion of deposit insurance coverage; and“(ii) the insurance provisions of the Federal Deposit Insurance Act [12 U.S.C. 1811 et seq.].“(C)Delayed effective date for regulations.—No regulation prescribed under subparagraph (B) may take effect before the 2-year period beginning on the date of the enactment of this Act [Dec. 19, 1991].”

Termination of Trust Territory of the Pacific Islands

For termination of Trust Territory of the Pacific Islands, see note set out preceding section 1681 of Title 48, Territories and Insular Possessions.

Temporary Adjustment in Standard Maximum Deposit Insurance Amount

Subsec. (a)(1)(E) of this section to apply with “$250,000” substituted for “$100,000” during period beginning on Oct. 3, 2008, and ending on Dec. 31, 2009, see section 5241(a)(1) of this title.

Merger of BIF and SAIF

Pub. L. 109–171, title II, § 2102, Feb. 8, 2006, 120 Stat. 9, provided that:“(a) In General.—“(1)Merger.—The Bank Insurance Fund and the Savings Association Insurance Fund shall be merged into the Deposit Insurance Fund.“(2)Disposition of assets and liabilities.—All assets and liabilities of the Bank Insurance Fund and the Savings Association Insurance Fund shall be transferred to the Deposit Insurance Fund.“(3)No separate existence.—The separate existence of the Bank Insurance Fund and the Savings Association Insurance Fund shall cease on the effective date of the merger thereof under this section.“(b)Repeal of Outdated Merger Provision.—Section 2704 of the Deposit Insurance Funds Act of 1996 (12 U.S.C. 1821 note) [section 2704 of Pub. L. 104–208, which amended this section, sections 24, 338a, 347b, 1431, 1441a, 1441b, 1464, 1467a, 1723i, 1735f–14, 1813, 1815 to 1817, 1821a, 1823 to 1825, 1827, 1828, 1831a, 1831e, 1831m, 1831o, 1833a, 1834, 1841, and 3341 of this title, and section 905 of Title 2, The Congress, repealed section 1831h of this title, and enacted provisions set out as notes under this section] is repealed.“(c)Effective Date.—This section shall take effect no later than the first day of the first calendar quarter that begins after the end of the 90-day period beginning on the date of the enactment of this Act [Feb. 8, 2006].”

Pub. L. 104–208, div. A, title II, § 2704(a), (b), Sept. 30, 1996, 110 Stat. 3009–486, as amended by Pub. L. 106–102, title VII, § 736(b)(1), Nov. 12, 1999, 113 Stat. 1479, which provided that the Bank Insurance Fund and the Savings Association Insurance Fund were to be merged into the Deposit Insurance Fund, that all assets and liabilities of the Bank Insurance Fund and the Savings Association Insurance Fund were to be transferred to the Deposit Insurance Fund, and that the separate existence of the Bank Insurance Fund and the Savings Association Insurance Fund was to cease, was repealed by Pub. L. 109–171, title II, § 2102(b), (c), Feb. 8, 2006, 120 Stat. 9, eff. no later than the first day of the first calendar quarter that begins after the end of the 90-day period beginning Feb. 8, 2006. See Effective Date of 1996 Amendment note and note above.

GAO Report

Pub. L. 103–204, § 8(g), Dec. 17, 1993, 107 Stat. 2388, provided that: “Not later than 60 days after receipt of any certification submitted pursuant to subparagraph (E) or (F) of section 11(a)(6) of the Federal Deposit Insurance Act [former 12 U.S.C. 1821(a)(6)], the Comptroller General shall transmit a report to the Congress evaluating any such certification.”

Single Agency for Real Property Disposition

Pub. L. 103–204, § 26(b), Dec. 17, 1993, 107 Stat. 2409, provided that:“(1)Study.—The Comptroller General of the United States shall conduct a study to determine the feasibility and effectiveness of establishing a single Federal agency responsible for selling and otherwise disposing of real property owned or held by the Department of Housing and Urban Development, the Farmers Home Administration of the Department of Agriculture, the Federal Deposit Insurance Corporation, and the Resolution Trust Corporation. The study shall examine the real property disposition procedures of such agencies and corporations, analyze the feasibility of consolidating such procedures through such single agency, and determine the characteristics and authority necessary for any such single agency to efficiently carry out such disposition activities.“(2)Report.—Not later than 12 months after the date of enactment of this Act [Dec. 17, 1993], the Comptroller General shall submit a report to the Congress on the study required under paragraph (1), which shall describe any findings under the study and contain any recommendations of the Comptroller General for the establishment of such single agency.”

Exemptions for Certain Transactions

Pub. L. 103–204, § 37, Dec. 17, 1993, 107 Stat. 2416, provided that:“(a)Transactions Involving Certain Institutions.—Section 11(a)(4)(B) of the Federal Deposit Insurance Act [12 U.S.C. 1821(a)(4)(B)] shall not prohibit assistance from the Bank Insurance Fund that otherwise meets all the criteria established in section 13(c) of such Act [12 U.S.C. 1823(c)] from being provided to an insured depository institution that became wholly-owned, either directly or through a wholly-owned subsidiary, by an entity or instrumentality of a State government during the period beginning on January 1, 1992, and ending on the date of enactment of this Act [Dec. 17, 1993].“(b)Transactions Involving the FDIC as Receiver.—Notwithstanding the extension, pursuant to section 27 [12 U.S.C. 1831d], of the Resolution Trust Corporation’s jurisdiction to be appointed conservator or receiver of certain savings associations after September 30, 1993, no provision of this Act [see Short Title of 1993 Amendment note set out under section 1421 of this title] or any amendment made by this Act shall invalidate or otherwise affect—“(1) any appointment of the Federal Deposit Insurance Corporation as receiver for any savings association that became effective before the date of enactment of this Act; or“(2) any action taken by the Federal Deposit Insurance Corporation as such receiver before, on, or after such date of enactment.”

Informational Study

Pub. L. 102–242, title III, § 311(d), Dec. 19, 1991, 105 Stat. 2366, provided that:“(1)In general.—The Federal Deposit Insurance Corporation, in conjunction with such consultants and technical experts as the Corporation determines to be appropriate, shall conduct a study of the cost and feasibility of tracking the insured and uninsured deposits of any individual and the exposure, under any Act of Congress or any regulation of any appropriate Federal banking agency, of the Federal Government with respect to all insured depository institutions.“(2)Analysis of costs and benefits.—The study under paragraph (1) shall include detailed, technical analysis of the costs and benefits associated with the least expensive way to implement the system.“(3)Specific factors to be studied.—As part of the study under paragraph (1), the Corporation shall investigate, review, and evaluate—“(A) the data systems that would be required to track deposits in all insured depository institutions;“(B) the reporting burdens of such tracking on individual depository institutions;“(C) the systems which exist or which would be required to be developed to aggregate such data on an accurate basis;“(D) the implications such tracking would have for individual privacy; and“(E) the manner in which systems would be administered and enforced.“(4)Federal reserve board survey.—As part of the informational study required under paragraph (1), the Board of Governors of the Federal Reserve System shall conduct, in conjunction with other Federal departments and agencies as necessary, a survey of the ownership of deposits held by individuals including the dollar amount of deposits held, the type of deposit accounts held, and the type of financial institutions in which the deposit accounts are held.“(5)Analysis by fdic.—The results of the survey under paragraph (4) shall be provided to the Federal Deposit Insurance Corporation before the end of the 1-year period beginning on the date of the enactment of this Act [Dec. 19, 1991] for analysis and inclusion in the informational study.“(6)Report to congress.—Before the end of the 18-month period beginning on the date of the enactment of this Act, the Federal Deposit Insurance Corporation shall submit to the Congress a report containing a detailed statement of findings made and conclusions drawn from the study conducted under this section, including such recommendations for administrative and legislative action as the Corporation determines to be appropriate.”

Continuation of Health Plan Coverage in Cases of Failed Financial Institutions

Pub. L. 102–242, title IV, § 451, Dec. 19, 1991, 105 Stat. 2382, as amended by Pub. L. 102–550, title XVI, § 1606(g)(1), Oct. 28, 1992, 106 Stat. 4088, provided that:“(a)Continuation Coverage.—The Federal Deposit Insurance Corporation—“(1) shall, in its capacity as a successor of a failed depository institution (whether acting directly or through any bridge bank), have the same obligation to provide a group health plan meeting the requirements of section 602 of the Employee Retirement Income Security Act of 1974 [29 U.S.C. 1162] (relating to continuation coverage requirements of group health plans) with respect to former employees of such institution as such institution would have had but for its failure, and“(2) shall require that any successor described in subsection (b)(1)(B)(iii) provide a group health plan with respect to former employees of such institution in the same manner as the failed depository institution would have been required to provide but for its failure.“(b)Definitions.—For purposes of this section—“(1)Successor.—An entity is a successor of a failed depository institution during any period if—“(A) such entity holds substantially all of the assets or liabilities of such institution, and“(B) such entity is—“(i) the Federal Deposit Insurance Corporation,“(ii) any bridge bank, or“(iii) an entity that acquires such assets or liabilities from the Federal Deposit Insurance Corporation or a bridge bank.“(2)Failed depository institution.—The term ‘failed depository institution’ means any depository institution (as defined in section 3(c) of the Federal Deposit Insurance Act [12 U.S.C. 1813(c)]) for which a receiver has been appointed.“(3)Bridge bank.—The term ‘bridge bank’ has the meaning given such term by section 3(i)(2) of the Federal Deposit Insurance Act [12 U.S.C. 1813(i)(2)].“(c)No premium costs imposed on fdic.—Subsection (a) shall not be construed as requiring the Federal Deposit Insurance Corporation to incur, by reason of this section, any obligation for any premium under any group health plan referred to in such subsection.“(d)Effective Date.—This section shall apply to plan years beginning on or after the date of the enactment of this Act [Dec. 19, 1991], regardless of whether the qualifying event under section 603 of the Employee Retirement Income Security Act of 1974 [29 U.S.C. 1163] occurred before, on, or after such date.”

Definitions

Definitions

Pub. L. 104–208, div. A, title II, § 2710, Sept. 30, 1996, 110 Stat. 3009–498, provided that: “For purposes of this subtitle [subtitle G (§§ 2701–2711) of title II of div. A of Pub. L. 104–208, see Short Title of 1996 Amendment note set out under section 1811 of this title], the following definitions shall apply:“(1)Bank insurance fund.—The term ‘Bank Insurance Fund’ means the fund established pursuant to section (11)(a)(5)(A) of the Federal Deposit Insurance Act [former 12 U.S.C. 1821(a)(5)(A)], as that section existed on the day before the date of enactment of this Act [Sept. 30, 1996].“(2)BIF member, saif member.—The terms ‘Bank Insurance Fund member’ and ‘Savings Association Insurance Fund member’ have the same meanings as in section 7(l) of the Federal Deposit Insurance Act [12 U.S.C. 1817(l)].“(3)Various banking terms.—The terms ‘bank’, ‘Board of Directors’, ‘Corporation’, ‘deposit’, ‘insured depository institution’, ‘Federal savings association’, ‘savings association’, ‘State savings bank’, and ‘State depository institution’ have the same meanings as in section 3 of the Federal Deposit Insurance Act [12 U.S.C. 1813].“(4)Deposit insurance fund.—The term ‘Deposit Insurance Fund’ means the fund established under section 11(a)(4) of the Federal Deposit Insurance Act [former 12 U.S.C. 1821(a)(4)] (as amended by section 2704(d) of this subtitle).“(5)Depository institution holding company.—The term ‘depository institution holding company’ has the same meaning as in section 3 of the Federal Deposit Insurance Act [12 U.S.C. 1813].“(6)Designated reserve ratio.—The term ‘designated reserve ratio’ has the same meaning as in section 7(b)(2)(A)(iv) of the Federal Deposit Insurance Act [former 12 U.S.C. 1817(b)(2)(A)(iv), see 12 U.S.C. 1817(b)(3)].“(7) SAIF.—The term ‘Savings Association Insurance Fund’ means the fund established pursuant to section 11(a)(6)(A) of the Federal Deposit Insurance Act [former 12 U.S.C. 1821(a)(6)(A)], as that section existed on the day before the date of enactment of this Act [Sept. 30, 1996].“(8)SAIF-assessable deposit.—The term ‘SAIF-assessable deposit’—“(A) means a deposit that is subject to assessment for purposes of the Savings Association Insurance Fund under the Federal Deposit Insurance Act [12 U.S.C. 1811 et seq.] (including a deposit that is treated as insured by the Savings Association Insurance Fund under section 5(d)(3) of the Federal Deposit Insurance Act [12 U.S.C. 1815(d)(3)]); and“(B) includes any deposit described in subparagraph (A) which is assumed after March 31, 1995, if the insured depository institution, the deposits of which are assumed, is not an insured depository institution when the special assessment is imposed under section 2702(a) [former 12 U.S.C. 1817 note].”