(4) by inserting after subparagraph (C) the fol-
lowing new subparagraph:
‘‘(D) the insured institution is not cur-
rently subject to a formal enforcement proceed-
ing or order by the Corporation or the appro-
priate Federal banking agency; and’’.
(b) GUIDELINES REQUIRED.—
(1) IN GENERAL.—Section 10(d) of the Federal
Deposit Insurance Act (12 U.S.C. 1820(d)) is
amended by adding at the end the following new
paragraph:
‘‘(6) STANDARDS FOR DETERMINING ADEQUACY
OF STATE EXAMINATIONS.—The Financial Institu-
tions Examination Council shall prescribe guidelines
establishing standards for determining whether a
State examination carries out the purposes of this
subsection for purposes of paragraph (3).’’.
(2) EFFECTIVE
DATE
OF
INITIAL
GUIDE-
LINES.—The initial guidelines required to be issued
pursuant to the amendment made by subsection (a)
shall be issued and shall take effect before the end
of the 1-year period beginning on the date of the en-
actment of this Act.
SEC. 103. STANDARDS FOR SAFETY AND SOUNDNESS.
(a) ELIMINATION
OF STOCK VALUATION PROVI-
SION.—Section 39(b)(1) of the Federal Deposit Insurance
Act (12 U.S.C. 1831p–1(b)(1)) is amended—
(1) in subparagraph (A), by adding ‘‘and’’ at
the end; and
(2) by striking subparagraph (C).
(b) HOLDING COMPANIES EXCLUDED FROM SCOPE
OF STANDARDS.—Section 39 of the Federal Deposit In-
surance Act (12 U.S.C. 1831p–1) is amended—
(1) in subsections (a) and (b), by striking ‘‘and
depository institution holding companies’’;
(2) in paragraphs (1)(A) and (2) of subsection
(e), by striking ‘‘or depository institution holding
company’’; and
(3) in subsection (e), by striking ‘‘or company’’
each place such term appears.
(c) ESTABLISHING STANDARDS IN GUIDELINES.—
(1) IN GENERAL.—Section 39(d)(1) of the Fed-
eral Deposit Insurance Act (12 U.S.C. 1831p–
1(d)(1)) is amended—
(A) in the 1st sentence, by inserting ‘‘or
guideline’’ before the period; and
(B) in the 2d sentence, by inserting ‘‘or
guidelines’’ after ‘‘Such regulations’’.
(2) CLERICAL AMENDMENT.—The heading for
section 39(d) of the Federal Deposit Insurance Act
(12 U.S.C. 1831p–1(d)) is amended by striking ‘‘BY
REGULATION’’.
(d) EFFECTIVE DATE.—The amendments made by
subsection (a) to section 39 of the Federal Deposit Insur-
ance Act shall take effect as if such amendments had been
included in such section as of the effective date of the sec-
tion.
SEC. 104. CLARIFYING AMENDMENT RELATING TO DATA
COLLECTION.
Section 7(a)(9) of the Federal Deposit Insurance Act
(12 U.S.C. 1817(a)(9)) is amended by adding at the end
the following new sentence: ‘‘In prescribing reporting and
other requirements for the collection of actual and accu-
rate information pursuant to this paragraph, the Corpora-
tion shall minimize the regulatory burden imposed upon
insured depository institutions while taking into account
the benefit of the information to the Corporation, includ-
ing the use of the information to enable the Corporation
to more accurately determine the total amount of insured
deposits in each insured depository institution.’’.
Subtitle B—General Regulatory
Reform
SEC. 111. STATE REGULATION OF REAL ESTATE APPRAIS-
ALS.
Section 1122 of the Financial Institutions Reform,
Recovery, and Enforcement Act of 1989 (12 U.S.C. 3351)
is amended—
(1) by redesignating subsections (b) through (e)
as subsections (c) through (f), respectively;
(2) by inserting after subsection (a) the follow-
ing new subsection:
‘‘(b) RECIPROCITY.—The Appraisal Subcommittee
shall encourage the States to develop reciprocity agree-
ments that readily authorize an appraiser who—
‘‘(1) is licensed or certified in 1 State; and
‘‘(2) is in good standing with the State ap-
praiser certifying or licensing agency in such State,
to perform appraisals in other States.’’; and
(3) in subsection (a)—
(A) 
by 
redesignating 
paragraphs 
(1)
through (3) as subparagraphs (A) through (C),
respectively, and moving the left margin of such
subparagraphs (as so redesignated) 2 ems to
the right;
(B) by striking ‘‘PRACTICE.—A State’’ and
inserting ‘‘PRACTICE.—
‘‘(1) IN GENERAL.—A State’’; and
(C) by adding at the end the following new
paragraph:
‘‘(2) FEES
FOR
TEMPORARY
PRACTICE.—A
State appraiser certifying or licensing agency shall
not impose excessive fees or burdensome require-
ments, as determined by the Appraisal Subcommit-
tee, for temporary practice under this subsection.’’.
SEC. 112. COLLATERALIZATION OF PUBLIC DEPOSITS.
Section 13(e) of the Federal Deposit Insurance Act
(12 U.S.C. 1823(e)) is amended—
(1) by redesignating paragraphs (1) through
(4) as subparagraphs (A) through (D), respectively,
and moving the left margin of such subparagraphs
(as so redesignated) 2 ems to the right;
(2) by striking ‘‘CORPORATION.—No agree-
ment’’ and inserting ‘‘CORPORATION.—
‘‘(1) IN GENERAL.—No agreement’’; and
(3) by adding at the end the following new
paragraph:
‘‘(2) PUBLIC DEPOSITS.—An agreement to pro-
vide for the lawful collateralization of—
‘‘(A) deposits of a Federal, State, or local
governmental entity or any depositor referred to
in section 11(a)(2), including an agreement to
provide collateral in lieu of a surety bond;
‘‘(B) bankruptcy estate funds pursuant to
section 345 of title 11, United States Code; or
‘‘(C) extensions of credit from any Federal
reserve bank or Federal home loan bank,
shall not be deemed to be invalid pursuant to para-
graph (1)(B) solely because such agreement was not
executed contemporaneously with changes in the col-
lateral made in accordance with such agreement.’’.
SEC. 113. BANK DEPOSIT FINANCIAL ASSISTANCE PRO-
GRAM.
(a) IN GENERAL.—Effective December 19, 1993, sec-
tion 7(i) of the Federal Deposit Insurance Act (12 U.S.C.
1817(i)) is amended—
(1) by redesignating paragraph (3) as para-
graph (4); and
(2) by inserting after paragraph (2), the follow-
ing new paragraph:
‘‘(3) BANK
DEPOSIT
FINANCIAL
ASSISTANCE
PROGRAM.—Notwithstanding paragraph (1), funds
deposited by an insured depository institution pursu-
ant to the Bank Deposit Financial Assistance Pro-
gram of the Department of Energy shall be sepa-
rately insured in an amount not to exceed $100,000
for each insured depository institution depositing
such funds.’’.
(b) TECHNICAL AND CONFORMING AMENDMENT.—
Section 11(a)(1)(C) of the Federal Deposit Insurance Act
(12 U.S.C. 1821(a)(1)(C)) is amended by striking ‘‘sec-
tion 7(i)(1)’’ and inserting ‘‘paragraph (1) or (2) of sec-
tion 7(i) or any funds described in section 7(i)(3)’’.
SEC. 114. COORDINATED AND UNIFIED EXAMINATIONS.
Section 10(d) of the Federal Deposit Insurance Act
(12 U.S.C. 1820(d)) is amended by inserting after para-
graph (6) (as added by section 102(b) of this Act) the
following new paragraphs:
‘‘(7) COORDINATED EXAMINATIONS.—To mini-
mize the disruptive effects of examinations on the
operations of insured depository institutions, each
Federal banking agency shall, to the extent prac-
ticable and consistent with safety and soundness
principles and the public interest—
‘‘(A) coordinate examinations to be con-
ducted by that agency at an insured depository
institution and any affiliate of such institution;
‘‘(B) coordinate with the other Federal
banking agencies in the conduct of such exami-
nations;
‘‘(C) work to coordinate the conduct of all
examinations made pursuant to this subsection
with the appropriate State bank supervisor; and
‘‘(D) use copies of reports of examinations
of insured depository institutions made by any
other Federal banking agency or appropriate
State bank supervisor.
‘‘(8) SAFETY
AND
SOUNDNESS
EXAMS.—Not-
withstanding any provision of paragraph (7) or any
system established pursuant to such paragraph, any
appropriate Federal banking agency may conduct a
separate examination of an insured depository insti-
tution at any time for safety and soundness pur-
poses.’’.
SEC. 115. COORDINATION OF FEDERAL AND STATE RE-
PORTING REQUIREMENTS TO REDUCE DU-
PLICATIVE EFFORTS.
(a) STATE
ACCESS
TO
FEDERAL
AGENCY
RE-
PORTS.—The 1st sentence of section 7(a)(2)(A) of the
Federal Deposit Insurance Act (12 U.S.C. 1817(a)(2)(A))
is amended by inserting ‘‘and, with respect to any State
depository institution, any appropriate State bank super-
visor for such institution’’ after ‘‘The Corporation’’.
(b) STATE COORDINATION WITH FEDERAL REPORT-
ING REQUIREMENTS.—The Federal banking agencies and
State bank supervisors shall, to the greatest extent prac-
ticable—
(1) coordinate the number, types, and frequency
of reports required to be submitted to such agencies
and supervisors by insured depository institutions
and the type and amount of information required to
be included in such reports; and
(2) use copies of reports of condition and other
reports submitted by such institutions to any such
agency or supervisor.
SEC. 116. LIMITING POTENTIAL LIABILITY ON FOREIGN AC-
COUNTS.
(a) AMENDMENT TO THE FEDERAL RESERVE ACT.—
The Federal Reserve Act (12 U.S.C. 221 et seq.) is
amended by inserting after section 25B the following new
section:
‘‘SEC. 25C. POTENTIAL LIABILITY ON FOREIGN ACCOUNTS.
‘‘(a) IN GENERAL.—A member bank shall not be re-
quired to repay any deposit made at a foreign branch of
the bank if the branch cannot repay the deposit due to—
‘‘(1) an act of war, insurrection or civil strife;
or
‘‘(2) an action by a foreign government or in-
strumentality (whether de jure or de facto) in the
country in which the branch is located,
unless the member bank has expressly agreed in writing
to repay the deposit under those circumstances.
‘‘(b) REGULATIONS.—The Board may prescribe such
regulations as the Board may determine to be necessary
to carry out this section.’’.
(b) CONFORMING AMENDMENTS TO THE FEDERAL
DEPOSIT INSURANCE ACT.—
(1) IN GENERAL.—Section 18 of the Federal
Deposit Insurance Act (12 U.S.C. 1828) is amended
by adding at the end the following new subsection:
‘‘(q) SOVEREIGN RISK.—Section 25C of the Federal
Reserve Act shall apply to every nonmember insured bank
in the same manner and to the same extent as if the
nonmember insured bank were a member bank.’’.
(2) CONFORMING AMENDMENT.—Subparagraph
(A) of section 3(l)(5) of the Federal Deposit Insur-
ance Act (12 U.S.C. 1813(l)(5)) is amended to read
as follows:
‘‘(A) any obligation of a depository institu-
tion which is carried on the books and records
of an office of such bank or savings association
located outside of any State, unless—
‘‘(i) such obligation would be a deposit
if it were carried on the books and records
of the depository institution, and would
have been payable at, an office located in
any State; and
‘‘(ii) the contract evidencing the obli-
gation provides by express terms, and not
by implication, for payment at an office of
the depository institution located in any
State; and’’.
(c) EXISTING CLAIMS NOT AFFECTED.—Section 25C
of the Federal Reserve Act (as added by subsection (a))
shall not be applied retroactively and shall not be con-
strued to affect or apply to any claim or cause of action
(to which such section would otherwise apply) which arises
from events or circumstances that occurred before the date
of enactment of this Act.
SEC. 117. EXPEDITED PROCEDURES FOR FORMING A BANK
HOLDING COMPANY.
The 2d sentence of section 3(a) of the Bank Holding
Company Act of 1956 (12 U.S.C. 1842(a)) is amended—
(1) by striking ‘‘or (B)’’ and inserting ‘‘(B)’’;
and
(2) by inserting before the period the following:
‘‘; or (C) the acquisition, by a company, of control
of a bank in a reorganization in which a person or
group of persons exchange their shares of the bank
for shares of a newly formed bank holding company
and receive after the reorganization substantially the
same proportional share interest in the holding com-
pany as they held in the bank except for changes in
shareholders’ interests resulting from the exercise of
dissenting shareholders’ rights under State or Fed-
eral law if—
‘‘(i) immediately following the acquisi-
tion—
‘‘(I) the bank holding company
meets the capital and other financial
standards prescribed by the Board by
regulation for such a bank holding
company; and
‘‘(II) the bank is adequately cap-
italized (as defined in section 38 of
the Federal Deposit Insurance Act);
‘‘(ii) the holding company does not en-
gage in any activities other than those of
managing and controlling banks as a result
of the reorganization;