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(6) EXEMPTION
FROM
ADDITIONAL
CAPITAL
REQUIREMENT.—The 11th undesignated paragraph
of section 9 of the Federal Reserve Act (12 U.S.C.
329) is amended by adding at the end the following
new sentence: ‘‘This paragraph shall not apply with
respect to any member bank which is a guaranteed
depository 
institution 
(as 
defined 
in 
section
101(a)(7) of the Deposit Insurance Reform, Regu-
latory Modernization, and Taxpayer Protection Act
of 1993).’’.
(7) EXEMPTION FROM SECURITY AND COLLAT-
ERAL REQUIREMENT.—The last sentence of the 15th
undesignated paragraph of section 9 of the Federal
Reserve Act (12 U.S.C. 332) is amended by insert-
ing ‘‘, other than a bank which is a guaranteed de-
pository institution (as defined in section 101(a)(7)
of the Deposit Insurance Reform, Regulatory Mod-
ernization, and Taxpayer Protection Act of 1993),’’
after ‘‘the banks and trust companies thus des-
ignated’’.
(8) MEMBERSHIP QUALIFICATION IN THE CASE
OF STATE MUTUAL SAVINGS BANKS.—The 16th un-
designated paragraph of section 9 of the Federal Re-
serve Act (12 U.S.C. 333) is amended by inserting
after the 1st sentence the following new sentence:
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‘‘Notwithstanding the application requirement con-
tained in the preceding sentence, any State mutual
savings bank which is a guaranteed depository insti-
tution (as defined in section 101(a)(7) of the De-
posit Insurance Reform, Regulatory Modernization,
and Taxpayer Protection Act of 1993) may become
a member of the Federal Reserve System without
application by agreeing to be subject to all applicable
provisions of this Act and by subscribing to stock in
the same manner and amount as provided in this
paragraph for State mutual savings banks applying
for membership.’’.
(9) EXEMPTION FROM AFFILIATE REPORTING
REQUIREMENTS.—
(A) IN GENERAL.—The 1st sentence of the
17th undesignated paragraph of section 9 of
the Federal Reserve Act (12 U.S.C. 334) is
amended by inserting ‘‘, other than a bank
which is a guaranteed depository institution (as
defined in section 101(a)(7) of the Deposit In-
surance Reform, Regulatory Modernization, and
Taxpayer Protection Act of 1993),’’ after ‘‘bank
admitted to membership under this section’’.
(B) EXEMPTION FROM ADDITIONAL AFFIL-
IATE
REPORTING
REQUIREMENTS.—The 18th
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undesignated paragraph of section 9 of the
Federal Reserve Act (12 U.S.C. 334) is amend-
ed by inserting ‘‘, other than a bank which is
a guaranteed depository institution (as defined
in section 101(a)(7) of the Deposit Insurance
Reform, Regulatory Modernization, and Tax-
payer Protection Act of 1993),’’ after ‘‘affili-
ated member bank’’.
(10) EXEMPTION
FROM
EXAMINATION
RE-
QUIREMENTS.—The 22d undesignated paragraph of
section 9 of the Federal Reserve Act (12 U.S.C.
338) is amended by inserting ‘‘, other than a bank
which is a guaranteed depository institution (as de-
fined in section 101(a)(7) of the Deposit Insurance
Reform, Regulatory Modernization, and Taxpayer
Protection Act of 1993),’’ after ‘‘State member
banks’’ the 1st place such term appears.
(f) EXEMPTION FROM INTEREST REQUIREMENTS.—
Section 19(i) of the Federal Reserve Act (12 U.S.C. 371a)
is amended by adding at the end the following new sen-
tence: ‘‘No provision of this subsection shall apply with
respect to a member bank which is a guaranteed deposi-
tory institution (as defined in section 101(a)(7) of the De-
posit Insurance Reform, Regulatory Modernization, and
Taxpayer Protection Act of 1993).’’.
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(g) EXEMPTION FROM REQUIREMENTS RELATING
TO INTERBANK LIABILITIES AND TRANSACTIONS WITH
AFFILIATES.—
(1) INTERBANK
LIABILITIES.—Section 23 of
the Federal Reserve Act (12 U.S.C. 371(b–2)) is
amended by adding at the end the following new
subsection:
‘‘(f) EXEMPTION FOR GUARANTEED DEPOSITORY IN-
STITUTIONS.—A guaranteed depository institution (as de-
fined in section 101(a)(7) of the Deposit Insurance Re-
form, Regulatory Modernization, and Taxpayer Protection
Act of 1993) shall not be subject to any regulation or
order issued under this section.’’.
(2) 
EXEMPTION
FROM
RESTRICTIONS
ON
TRANSACTIONS
WITH
AFFILIATES.—Sections 23A
and 23B of the Federal Reserve Act (12 U.S.C.
371c, 371c–1) are each amended by adding at the
end of each such section the following new sub-
section:
‘‘(f) EXEMPTION FOR GUARANTEED DEPOSITORY IN-
STITUTIONS.—This section shall not apply to any guaran-
teed depository institution (as defined in section 101(a)(7)
of the Deposit Insurance Reform, Regulatory Moderniza-
tion, and Taxpayer Protection Act of 1993) or any affili-
ate of any such institution that is a guaranteed company
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(as defined in section 101(a)(6) of the Deposit Insurance
Reform, Regulatory Modernization, and Taxpayer Protec-
tion Act of 1993).’’.
(h) EXEMPTION FROM LIMITATION ON INVEST-
MENTS IN, OR LOANS ON, BANK PREMISES.—Section
24A of the Federal Reserve Act (12 U.S.C. 371d) is
amended by adding at the end the following new sentence:
‘‘This section shall not apply to any guaranteed depository
institution (as defined in section 101(a)(7) of the Deposit
Insurance Reform, Regulatory Modernization, and Tax-
payer Protection Act of 1993).’’.
(i) EXEMPTION FROM LIMITATIONS ON BANKERS’
ACCEPTANCES.—Section 13(7) of the Federal Reserve Act
(12 U.S.C. 372) is amended by adding at the end the fol-
lowing new subparagraph:
‘‘(I) EXEMPTION FROM LIMITATIONS FOR
GUARANTEED
DEPOSITORY
INSTITUTIONS.—
Subparagraphs (B), (C), (D), (E), (F), and (H)
shall not apply to any guaranteed depository in-
stitution (as defined in section 101(a)(7) of the
Deposit Insurance Reform, Regulatory Mod-
ernization, and Taxpayer Protection Act of
1993).’’.
(j) EXEMPTION FROM PURCHASING AND LENDING
LIMITS RELATING TO DIRECTORS AND OFFICERS.—Sec-
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tion 22 of the Federal Reserve Act (12 U.S.C. 375, 376,
503, 375a, and 375b) is amended by inserting before sub-
section (d) the following new subsection:
‘‘(c) EXEMPTION FOR GUARANTEED DEPOSITORY
INSTITUTIONS.—Subsections (d), (e), (g), and (h) shall
not apply to any guaranteed depository institution (as de-
fined in section 101(a)(7) of the Deposit Insurance Re-
form, Regulatory Modernization, and Taxpayer Protection
Act of 1993) or any affiliate of any such institution.’’.
SEC. 203. AMENDMENTS RELATING TO SAVINGS ASSOCIA-
TIONS.
(a) 
GUARANTEED
SAVINGS
ASSOCIATION
DE-
FINED.—Section 2 of the Home Owners’ Loan Act (12
U.S.C. 1462) is amended by adding at the end the follow-
ing new paragraphs:
‘‘(10) GUARANTEED
SAVINGS
ASSOCIATION.—
The term ‘guaranteed savings association’ means a
savings association which is a guaranteed depository
institution (as defined in section 101(a)(7) of the
Deposit Insurance Reform, Regulatory Moderniza-
tion, and Taxpayer Protection Act of 1993).
‘‘(11) GUARANTEED FEDERAL SAVINGS ASSO-
CIATION.—The term ‘guaranteed Federal savings as-
sociation’ means a Federal savings association which
is a guaranteed depository institution (as defined in
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section 101(a)(7) of the Deposit Insurance Reform,
Regulatory Modernization, and Taxpayer Protection
Act of 1993).’’.
(b) EXEMPTION FROM EXAMINATION AND REGULA-
TION BY DIRECTOR OF THE OFFICE OF THRIFT SUPER-
VISION.—
(1) IN GENERAL.—Section 4(a) of the Home
Owners’ Loan Act (12 U.S.C. 1463(a)) is amended
by adding at the end the following new paragraph:
‘‘(4) EXEMPTION
FOR
GUARANTEED
SAVINGS
ASSOCIATIONS.—The authority of the Director under
this subsection or subsection (b) or (c) to examine
any savings association or prescribe regulations to
savings associations shall not apply with respect to
any guaranteed savings association.’’.
(2) FEDERAL SAVINGS ASSOCIATIONS.—Section
5(a) of the Home Owners’ Loan Act (12 U.S.C.
1464(a)) is amended by adding at the end the fol-
lowing new sentence: ‘‘The authority of the Director
under the preceding sentence to prescribe regula-
tions to provide for the examination and regulation
of Federal savings associations shall not apply with
respect to the examination or regulation of any
guaranteed Federal savings association.’’.