HR 4636 RDS 
(3) REPORT REQUIRED.—The Board of Direc-
tors of the Federal Deposit Insurance Corporation 
shall submit a report to the Congress before the end 
of the 1-year period beginning on the date of the en-
actment of this Act, containing the findings and con-
clusions of the Corporation with respect to the study 
required under paragraph (1), together with such 
recommendations for legislative or administrative ac-
tion as the Board of Directors may determine to be 
appropriate. Before submitting the report to Con-
gress, the Board of Directors shall provide a draft 
of the report to the Comptroller General for com-
ment. 
(e) BASEL II STUDY.— 
(1) IN GENERAL.—Not later than 1 year after 
the date of enactment of this Act, the Comptroller 
General shall report to the Committee on Banking, 
Housing, and Urban Affairs of the Senate and the 
Committee on Financial Services of the House of 
Representatives on the potential impact on the fi-
nancial system of the United States of the imple-
mentation of the new Basel Capital Accord (Basel 
II) and the proposed revisions to current reserve re-
quirement regulations for non-Basel II banks.
HR 4636 RDS 
(2) FACTORS TO BE INCLUDED.—The report 
required under paragraph (1) shall address the fol-
lowing: 
(A) The potential impact of Basel II on 
capital requirements in the United States, in-
cluding— 
(i) whether there would be a reduction 
in capital requirements; 
(ii) whether Basel II could hinder en-
forcement of prompt corrective action laws 
and regulations; and 
(iii) the potential implications any 
changes in capital requirements may have 
on the safety and soundness of the finan-
cial system in the United States. 
(B) By gathering available information, 
the ability of United States banks and bank 
regulators to implement and comply with the 
provisions of Basel II, including— 
(i) the costs of Basel II for financial 
institutions and regulators 
(ii) the feasibility and appropriateness 
of Basel II’s statistical models; and
HR 4636 RDS 
(iii) the ability of regulators to oversee 
capital requirement operations of financial 
institutions. 
(C) The ability of the United States finan-
cial institution regulatory agencies— 
(i) to attract and retain sufficient ex-
pertise, both among specialists and exam-
iners; and 
(ii) to conduct the necessary oversight 
of capital and risk modeling by regulated 
financial institutions subject to Basel II. 
SEC. 7. BI-ANNUAL FDIC SURVEY AND REPORT ON IN-
CREASING THE DEPOSIT BASE BY ENCOUR-
AGING USE OF DEPOSITORY INSTITUTIONS 
BY THE UNBANKED. 
The Federal Deposit Insurance Act (12 U.S.C. 1811 
et seq.) is amended by adding at the end the following 
new section: 
‘‘SEC. 49. BI-ANNUAL FDIC SURVEY AND REPORT ON EN-
COURAGING USE OF DEPOSITORY INSTITU-
TIONS BY THE UNBANKED. 
‘‘(a) SURVEY REQUIRED.— 
‘‘(1) IN GENERAL.—The Corporation shall con-
duct a bi-annual survey on efforts by insured deposi-
tory institutions to bring those individuals and fami-
HR 4636 RDS 
lies who have rarely, if ever, held a checking ac-
count, a savings account or other type of transaction 
or check cashing account at an insured depository 
institution (hereafter in this section referred to as 
the ‘unbanked’) into the conventional finance sys-
tem. 
‘‘(2) FACTORS
AND
QUESTIONS
TO
CON-
SIDER.—In conducting the survey, the Corporation 
shall take the following factors and questions into 
account: 
‘‘(A) To what extent do insured depository 
institutions promote financial education and fi-
nancial literacy outreach? 
‘‘(B) Which financial education efforts ap-
pear to be the most effective in bringing 
‘unbanked’ individuals and families into the 
conventional finance system? 
‘‘(C) What efforts are insured institutions 
making at converting ‘unbanked’ money order, 
wire transfer, and international remittance cus-
tomers into conventional account holders? 
‘‘(D) What cultural, language and identi-
fication issues as well as transaction costs ap-
pear to most prevent ‘unbanked’ individuals 
from establishing conventional accounts?