(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
LIABIL-
ITIES.—All assets and liabilities of the Bank Insur-
ance 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 Sav-
ings Association Insurance Fund shall cease on the
effective date of the merger thereof under this sec-
tion.
(b) REPEAL OF OUTDATED MERGER PROVISION.—
Section 2704 of the Deposit Insurance Funds Act of 1996
(12 U.S.C. 1821 note) is repealed.
(c) EFFECTIVE DATE.—This section shall take effect
on 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.
SEC. 3. INCREASE IN DEPOSIT INSURANCE COVERAGE.
(a) IN GENERAL.—Section 11(a)(1) of the Federal
Deposit Insurance Act (12 U.S.C. 1821(a)(1)) is
amended—
(1) by striking subparagraph (B) and inserting
the following new subparagraph:
‘‘(B) NET
AMOUNT
OF
INSURED
DE-
POSIT.—The net amount due to any depositor
at an insured depository institution shall not
exceed the standard maximum deposit insur-
ance amount as determined in accordance with
subparagraphs (C), (D), (E) and (F) and para-
graph (3).’’; and
(2) by adding at the end the following new sub-
paragraphs:
‘‘(E) STANDARD
MAXIMUM
DEPOSIT
IN-
SURANCE AMOUNT DEFINED.—For purposes of
this Act, the term ‘standard maximum deposit
insurance amount’ means—
‘‘(i) until the end of the first calendar
quarter that ends on or after the end of
the 90-day period beginning on the date of
the enactment of the Federal Deposit In-
surance Reform Act of 2002, $100,000;
and
‘‘(ii) after the end of the calendar
quarter referred to in clause (i), $130,000,
adjusted as provided under subparagraph
(F).
‘‘(F) INFLATION ADJUSTMENT.—
‘‘(i) IN GENERAL.—As of January 1,
2010, and the 1st day of each subsequent
10-year period, the standard maximum de-
posit insurance amount applicable to any
depositor at an insured depository institu-
tion shall be increased by the product of—
‘‘(I) the amount described in sub-
paragraph (E)(ii); and
‘‘(II) the cost of living adjust-
ment determined under section 1(f)(3)
of the Internal Revenue Code of 1986
at the beginning of each such 10-year
period, in accordance with clause (ii).
‘‘(ii) RULE OF APPLICATION.—Section
1(f)(3)(B) of the Internal Revenue Code of
1986 shall be applied, for purposes of
clause (i), by substituting ‘calendar year
2002’ for ‘calendar year 1992’.
‘‘(iii) ROUNDING.—If the amount de-
termined under clause (ii) for any period is
not a multiple of $10,000, the amount so
determined shall be rounded to the nearest
$10,000 that is less than the amount so
determined.
‘‘(iv) PUBLICATION.—Before the end
of the 30-day period beginning on the date
the Board of Directors determines under
clause (i) that the standard maximum in-
surance amount applicable to any depositor
has increased, the Board of Directors shall
publish in the Federal Register the max-
imum net amount which may be due to
any depositor at an insured depository in-
stitution as so determined.’’.
(b) DOUBLING OF DEPOSIT INSURANCE FOR CER-
TAIN RETIREMENT ACCOUNTS.—Section 11(a)(3)(A) of
the 
Federal 
Deposit 
Insurance 
Act 
(12 
U.S.C.
1921(a)(3)(A)) is amended by striking ‘‘$100,000’’ and
inserting ‘‘2 times the standard maximum deposit insur-
ance amount (as determined under paragraph (1))’’.
(c) INCREASED INSURANCE COVERAGE FOR MUNIC-
IPAL DEPOSITS.—Section 11(a)(2) of the Federal Deposit
Insurance Act (12 U.S.C. 1821(a)(2)) is amended by add-
ing at the end the following:
‘‘(C) MUNICIPAL DEPOSITORS.—
‘‘(i) IN
GENERAL.—Notwithstanding subpara-
graph (A), the deposits of in-State municipal deposi-
tors at an insured depository institution shall be in-
sured in an aggregate amount not to exceed the
total equity capital of the institution.
‘‘(ii) DEFINITIONS.—In this subparagraph—
‘‘(I) the term ‘in-State municipal depositor’
means a municipal depositor that is located in
the same State as the office or branch of the
insured depository institution at which the de-
posits of that depositor are held; and
‘‘(II) the term ‘municipal depositor’ means
a depositor described in any of clauses (i)
through (v) of subparagraph (A).’’.
(d) TECHNICAL AND CONFORMING AMENDMENT RE-
LATING TO INSURANCE OF TRUST FUNDS.—Paragraphs
(1) and (3) of section 7(i)(1) of the Federal Deposit Insur-
ance Act (12 U.S.C. 1817(i)) are each amended by strik-
ing ‘‘$100,000’’ and inserting ‘‘the standard maximum de-
posit insurance amount (as determined under section
11(a)(1))’’.
(e) OTHER TECHNICAL AND CONFORMING AMEND-
MENTS.—
(1) Section 11(a)(2) of the Federal Deposit In-
surance Act (12 U.S.C. 1821(a)(2)) is amended by
striking ‘‘$100,000’’ the first place such term ap-
pears and all that follows through the period at the
end and inserting ‘‘the standard maximum deposit
insurance amount per account.’’.
(2) Section 11(m)(6) of the Federal Deposit In-
surance Act (12 U.S.C. 1821(m)(6)) is amended by
striking ‘‘$100,000’’ and inserting ‘‘an amount equal
to 
the 
standard 
maximum 
deposit 
insurance
amount’’.
(3) Section 18(a)(1)(B) of the Federal Deposit
Insurance Act (12 U.S.C. 1828(a)(1)(B)) is amend-
ed by striking ‘‘$100,000’’ and inserting ‘‘the stand-
ard maximum deposit insurance amount in effect at
the time’’.
(4) Section 43(d) of the Federal Deposit Insur-
ance Act (12 U.S.C. 1831t(d)) is amended by strik-
ing ‘‘$100,000’’ and inserting ‘‘an amount equal to
the standard maximum deposit insurance amount’’.
(5) Section 6 of the International Banking Act
of 1978 (12 U.S.C. 3104(b)) is amended—
(A) by striking ‘‘$100,000’’ each place
such term appears and inserting ‘‘an amount
equal to the standard maximum deposit insur-
ance amount’’; and
(B) by adding at the end the following new
subsection:
‘‘(e) STANDARD
MAXIMUM
DEPOSIT
INSURANCE
AMOUNT DEFINED.—For purposes of this section, the
term ‘standard maximum deposit insurance amount’
means the amount of the maximum amount of deposit in-
surance as determined under section 11(a)(1) of the Fed-
eral Deposit Insurance Act.’’.
(f) CONFORMING CHANGE
TO SHARE INSURANCE
FUND.—
(1) IN GENERAL.—Section 207(k) of the Fed-
eral Credit Union Act (12 U.S.C. 1787(k)) is
amended—
(A) 
in 
paragraph 
(1), 
by 
striking
‘‘$100,000.’’ and inserting ‘‘the standard max-
imum share insurance amount, as determined
in accordance with paragraph (4).’’; and
(B) by adding at the end the following new
paragraphs:
‘‘(4) STANDARD MAXIMUM SHARE INSURANCE
AMOUNT DEFINED.—For purposes of this Act, the
term ‘standard maximum share insurance amount’
means—
‘‘(A) until the end of the first calendar
quarter that ends on or after the end of the 90-
day period beginning on the date of the enact-
ment of the Federal Deposit Insurance Reform
Act of 2002, $100,000; and
‘‘(B) after the end of the calendar quarter
referred to in clause (i), $130,000, adjusted as
provided under paragraph (5).
‘‘(5) INFLATION ADJUSTMENT.—
‘‘(A) IN
GENERAL.—As of January 1,
2010, and the 1st day of each subsequent 10-
year period, the standard maximum share in-
surance amount applicable to any insured ac-
count shall be increased by the product of—
‘‘(i) the amount described in subpara-
graph (4)(B); and
‘‘(ii) the cost of living adjustment de-
termined under section 1(f)(3) of the In-
ternal Revenue Code of 1986 at the begin-
ning of each such 10-year period, in ac-
cordance with subparagraph (B).
‘‘(B) RULE
OF
APPLICATION.—Section
1(f)(3)(B) of the Internal Revenue Code of
1986 shall be applied, for purposes of subpara-
graph (A), by substituting ‘calendar year 2002’
for ‘calendar year 1992’.
‘‘(C) ROUNDING.—If the amount deter-
mined under subparagraph (B) for any period
is not a multiple of $10,000, the amount so de-
termined shall be rounded to the nearest
$10,000 that is less than the amount so deter-
mined.
‘‘(D) PUBLICATION.—Not later than Janu-
ary 15 of the 1st year of each 10-year period
referred to in clause (ii), the Board shall pub-
lish in the Federal Register the maximum net
amount which may be due with respect to any
insured account during such 10-year period.’’.
(2) DOUBLING OF SHARE INSURANCE FOR CER-
TAIN
RETIREMENT
ACCOUNTS.—Section 107(k)(3)
of the Federal Credit Union Act (12 U.S.C.
1787(k)(3)) is amended by striking ‘‘$100,000’’ and
inserting ‘‘2 times the standard maximum share in-
surance amount (as determined under paragraph
(1))’’.
(3) TECHNICAL
AND
CONFORMING
AMEND-
MENT.—Section 11(k)(2)(A) of the Federal Credit
Union Act (12 U.S.C. 1787(k)(2)(A)) is amended by
striking ‘‘$100,000’’ and inserting ‘‘the standard
maximum share insurance amount (as determined
under paragraph (1))’’.
SEC. 4. EXPANDED INVESTMENTS AUTHORIZED FOR DE-
POSIT INSURANCE FUND.
Section 13(a)(1) of the Federal Deposit Insurance
Act (12 U.S.C. 1823(a)(1)) is amended by striking ‘‘shall
be invested’’ and all that follows through the period and
inserting ‘‘shall be invested. Such investments shall be lim-
ited to the following types of investments:
‘‘(A) Obligations of the United States or
any agency of the United States.
‘‘(B) Obligations guaranteed as to prin-
cipal and interest by the United States.
‘‘(C) Such other comparable obligations as
the Secretary of the Treasury specifically au-
thorizes upon the Secretary’s own initiative or
at the request of the Chairperson of the Board
of Directors.’’.
SEC. 5. REPEAL OF SPECIAL RULE RELATING TO MINIMUM
ASSESSMENTS.
Subsection (b)(2) of section 7 of the Federal Deposit
Insurance Act (12 U.S.C. 1817(b)(2)) is amended—
(1) by striking subparagraphs (B), (E), and
(F); and
(2) by redesignating subparagraphs (C), (G),
and (H) as subparagraphs (B), (C), and (D), respec-
tively.
SEC. 6. REPEAL OF FREE DEPOSIT INSURANCE.
Section 7(b)(2)(A) of the Federal Deposit Insurance
Act (12 U.S.C. 1817(b)(2)(A)) is amended—
(1) by striking clauses (iii) and (v); and
(2) by redesignating clause (iv) as clause (iii).
SEC. 7. REPLACEMENT OF FIXED DESIGNATED RESERVE
RATIO WITH RESERVE RANGE.
(a) IN GENERAL.—Section 7(b)(3) of the Federal
Deposit Insurance Act (12 U.S.C. 1817(b)(3)) is amended
to read as follows:
‘‘(3) DESIGNATED RESERVE RATIO.—
‘‘(A) ESTABLISHMENT.—Before the begin-
ning of each calendar year, the Board of Direc-
tors shall designate, by regulation after oppor-
tunity for comment, the reserve ratio applicable
for such year.
‘‘(B) RANGE.—The reserve ratio des-
ignated by the Board of Directors for any
year—
‘‘(i) may not exceed 1.5 percent of es-
timated insured deposits; and
‘‘(ii) may not be less than 1.0 percent
of estimated insured deposits.
‘‘(C) FACTORS.—In designating a reserve
ratio for any year, the Board of Directors
shall—
‘‘(i) take into account the risk of
losses to the deposit insurance fund in
such year and future years, based on an
analysis of historic experience and poten-
tial losses from identifiable insured deposi-
tory institutions that are in a troubled con-
dition (as defined by the Corporation);
‘‘(ii) take into account economic con-
ditions generally affecting insured deposi-
tory institutions so as to allow the des-
ignated reserve ratio to increase during
more favorable economic conditions and to
decrease during less favorable economic
conditions, notwithstanding the increased
risks of loss that may exist during such
less favorable conditions;
‘‘(iii) seek to prevent sharp swings in
the assessment rates for insured depository
institutions; and
‘‘(iv) take into account such other fac-
tors as the Board of Directors may deter-
mine to be appropriate, consistent with the
requirements of this subparagraph.
‘‘(D) PUBLICATION OF PROPOSED CHANGE
IN RATIO.—In soliciting comment on any pro-
the Corporation to require submission of
information by insured depository institu-
tions to the Corporation.
‘‘(F) MODIFICATIONS TO THE RISK-BASED
ASSESSMENT
SYSTEM
ALLOWED
ONLY
AFTER
NOTICE AND COMMENT.—In revising or modi-
fying the risk-based assessment system at any
time after the date of the enactment of the
Federal Deposit Insurance Reform Act of 2002,
the Board of Directors may implement such re-
visions or modification in final form only after
notice and opportunity for comment.’’.
SEC. 9. REFUNDS, REBATES, AND CREDITS FROM DEPOSIT
INSURANCE FUND.
Subsection (e) of section 7 of the Federal Deposit In-
surance Act (12 U.S.C. 1817(e)) is amended to read as
follows:
‘‘(e) REFUNDS, REBATES, AND CREDITS.—
‘‘(1) REFUNDS
OF
OVERPAYMENTS.—In the
case of any payment of an assessment by an insured
depository institution in excess of the amount due to
the Corporation, the Corporation may—
‘‘(A) refund the amount of the excess pay-
ment to the insured depository institution; or
‘‘(B) credit such excess amount toward the
payment of subsequent semiannual assessments
until such credit is exhausted.
‘‘(2) REBATES
OF
EXCESS
AMOUNTS
IN
DE-
POSIT INSURANCE FUND.—
‘‘(A) FUND BALANCE IN EXCESS OF 1.5
PERCENT OF ESTIMATED INSURED DEPOSITS.—
Whenever the balance in the Deposit Insurance
Fund equals or exceeds the amount equal to 1.5
percent of estimated insured deposits, the Cor-
poration shall rebate the amount in the Fund
in excess of the amount required to maintain a
balance at the designated reserve ratio in effect
at such time, to insured depository institutions
in such manner and on such conditions as the
Corporation shall prescribe by regulation, after
notice and opportunity for comment.
‘‘(B) FUND BALANCE IN EXCESS OF 1.4
PERCENT OF ESTIMATED INSURED DEPOSITS.—
Whenever the balance in the Deposit Insurance
Fund is equal to or greater than the amount
equal to 1.4 percent of estimated insured depos-
its and less than 1.5 percent of such deposits,
the Corporation may credit or rebate the
amount in excess of the amount required to
maintain a balance at the designated reserve
ratio in effect at such time, to insured deposi-
tory institutions in such manner and on such
conditions as the Corporation shall prescribe by
regulation, after notice and opportunity for
comment.
‘‘(3) TRANSITIONAL CREDIT FOR CERTAIN DE-
POSITORY INSTITUTIONS.—
‘‘(A) IN GENERAL.—The individual transi-
tion credit amount (as determined under sub-
paragraph (C)) for each eligible depository in-
stitution shall be available for credit by the Cor-
poration against assessments under subsection
(b) on the eligible depository institution which
become due for semiannual assessment periods
beginning after the effective date of the merger
of the Bank Insurance Fund and Savings Asso-
ciation Insurance Fund into the Deposit Insur-
ance Fund.
‘‘(B) ELIGIBLE DEPOSITORY INSTITUTIONS
DEFINED.—For purposes of this paragraph, the
term ‘eligible depository institution’ means an
insured depository institution that—
‘‘(i) received, in the most recent exam-
ination of the institution before the effec-
tive date of the merger of the Bank Insur-
ance Fund and the Savings Association In-
surance Fund, a CAMEL composite rating
of 1 or 2 under the Uniform Financial In-
stitutions Rating System, or an equivalent
rating under a comparable rating system;
and
‘‘(ii) paid assessments (or any prede-
cessor of which paid assessments) under
this section for any semiannual assessment
period beginning after December 31, 1989,
and ending before January 1, 1997.
‘‘(C) AMOUNT OF INDIVIDUAL TRANSITION
CREDIT.—The 
individual 
transition 
credit
amount for each eligible depository institution
shall be the amount that bears the same ratio
to the total transition credit amount as the
ratio of the market share of insured deposits of
the eligible depository institution as of Decem-
ber 31, 1996 (including all predecessors of such
insured depository institution in existence on
such date) bears to the market share of insured
deposits of all depository institutions (as of
such date) (including all predecessors of such
institutions in existence on such date).
‘‘(D) 
TOTAL
TRANSITION
CREDIT
AMOUNT.—For purposes of subparagraph (C),
the term ‘total transition credit amount’ means
that portion of the balance in the Deposit In-
surance Fund (as of the effective date of the
merger of the Bank Insurance Fund and Sav-
ings Association Insurance Fund) that is equal
to income earned by the Fund on premiums
paid less expenses (as of the effective date of
such merger).
‘‘(E) PREDECESSOR DEFINED.—For pur-
poses of this paragraph, the term ‘predecessor’,
when used with respect to any insured deposi-
tory institution, includes any other insured de-
pository institution acquired by or merged with
such insured depository institution.’’.
SEC. 10. DEPOSIT INSURANCE FUND RESTORATION PLANS.
Section 7(b)(3) of the Federal Deposit Insurance Act
(12 U.S.C. 1917(b)(3)) (as amended by section 7(a) of
this Act) is amended by adding at the end the following
new subparagraph:
‘‘(F) DIF RESTORATION PLANS.—
‘‘(i) IN GENERAL.—Whenever—
‘‘(I) the actual ratio of the bal-
ance in the Deposit Insurance Fund
to the estimated insured deposits is
less than 0.1 percent greater than the
minimum amount permitted for the
designated reserve ratio (or is pro-
jected to fall to a ratio that is less
than 0.1 percent greater than such
minimum designated reserve ratio) in
any calendar year; and
‘‘(II) the actual ratio of the bal-
ance in such Fund to estimated in-
sured deposits has failed to meet or
exceed the designated reserve ratio for
the 2 preceding calendar years,
the Corporation shall immediately establish
and implement a Deposit Insurance Fund
Restoration Plan that will ensure that the
Fund has, or will have within a reasonable
period of time, adequate reserves for all
projected contingencies and that the actual
reserve ratio will be maintained at not less
than minimum amount permitted for the
designated reserve ratio, on such basis and
after taking into account such factors as
the Corporation determines to be appro-
priate.
‘‘(ii) 
TRANSPARENCY.—Not 
more
than 90 days after the Corporation estab-
lishes and implements a restoration plan
under clause (i), the Corporation shall pub-
lish in the Federal Register a detailed
analysis of the factors considered and the
basis for the actions taken with regard to
the plan.’’.
SEC. 11. STUDIES OF FDIC ADMINISTRATIVE STRUCTURE
AND EXPENSES AND CERTAIN ACTIVITIES
AND FURTHER POSSIBLE CHANGES TO DE-
POSIT INSURANCE SYSTEM.
(a) STUDY BY COMPTROLLER GENERAL.—
(1) STUDY REQUIRED.—The Comptroller Gen-
eral shall conduct a study of the following issues
concerning the Federal Deposit Insurance Corpora-
tion:
(A) The efficiency and effectiveness of the
administration of the prompt corrective action
program under section 38 of the Federal De-
posit Insurance Act, including the degree of ef-
fectiveness of the Corporation in identifying
troubled depository institutions and the degree
of accuracy of the risk assessments made by the
Corporation.
(B) The appropriateness of the administra-
tive structure of the Federal Deposit Insurance
Corporation for the mission of the Corporation,
taking into account the current size and com-
plexity of the business of insured depository in-
stitutions (as such term is defined in section 3
of the Federal Deposit Insurance Act).
(C) The extent to which the administrative
structure contributes to or reduces administra-
tive inefficiencies that increase administrative
costs and the effectiveness of internal controls
on administrative costs.
(2) REPORT TO THE CONGRESS.—The Comp-
troller General shall submit a report to the Congress
before the end of the 1-year period beginning on the
date of the enactment of this Act containing the
findings and conclusions of the Comptroller General
with respect to the study required under paragraph
(1) together with such recommendations for legisla-
tive or administrative action as the Comptroller Gen-
eral may determine to be appropriate.
(b) INTERNAL STUDY BY THE FDIC.—
(1) STUDY REQUIRED.—Concurrently with the
study required to be conducted by the Comptroller
General under subsection (a), the Federal Deposit
Insurance Corporation shall conduct an internal
study of the same conditions and factors included in
the study under subsection (a).
(2) REPORT TO THE CONGRESS.—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 enactment of this Act
containing the findings and conclusions of the Cor-
poration with respect to the study required under
paragraph (1) together with such recommendations
for legislative or administrative action as the Board
of Directors of the Corporation may determine to be
appropriate.
(c) STUDY OF FURTHER POSSIBLE CHANGES TO DE-
POSIT INSURANCE SYSTEM.—
(1) STUDY REQUIRED.—The Board of Directors
of the Federal Deposit Insurance Corporation and
the National Credit Union Administration Board
shall each conduct a study of the following:
(A) The feasibility of establishing a vol-
untary deposit insurance system for deposits in
excess of the maximum amount of deposit in-
surance for any depositor and the potential ben-
efits and the potential adverse consequences
that may result from the establishment of any
such system.
(B) The feasibility of privatizing all deposit
insurance at insured depository institutions and
insured credit unions.
(2) REPORT.—Before the end of the 1-year pe-
riod beginning on the date of the enactment of this
Act, the Board of Directors of the Federal Deposit
Insurance Corporation and the National Credit
Union Administration Board shall each submit a re-
port to the Congress on the study required under
paragraph (1) containing the findings and conclu-
sions of the reporting agency together with such rec-
ommendations for legislative or administrative
changes as the agency may determine to be appro-
priate.
SEC. 12. TECHNICAL AND CONFORMING AMENDMENTS TO
THE FEDERAL DEPOSIT INSURANCE ACT RE-
LATING TO THE MERGER OF THE BIF AND
SAIF.
The Federal Deposit Insurance Act (12 U.S.C. 1811
et seq.) is amended—
(1) in section 3(a)(1) (12 U.S.C. 1813(a)(1)),
by striking subparagraph (B) and inserting the fol-
lowing:
‘‘(B) includes any former savings associa-
tion.’’;
(2) in section 5(b)(5) (12 U.S.C. 1815(b)(5)),
by striking ‘‘the Bank Insurance Fund or the Sav-
ings Association Insurance Fund;’’ and inserting
‘‘the Deposit Insurance Fund,’’;
(3) in section 5(c)(4), by striking ‘‘deposit in-
surance fund’’ and inserting ‘‘Deposit Insurance
Fund’’;
(4) in section 5(d) (12 U.S.C. 1815(d)), by
striking paragraphs (2) and (3);
(5) in section 5(d)(1) (12 U.S.C. 1815(d)(1))—
(A) in subparagraph (A), by striking ‘‘re-
serve ratios in the Bank Insurance Fund and
the Savings Association Insurance Fund as re-
quired by section 7’’ and inserting ‘‘the reserve
ratio of the Deposit Insurance Fund’’;
(B) by striking subparagraph (B) and in-
serting the following:
‘‘(2) FEE CREDITED TO THE DEPOSIT INSUR-
ANCE FUND.—The fee paid by the depository insti-
tution under paragraph (1) shall be credited to the
Deposit Insurance Fund.’’;
(C) by striking ‘‘(1) UNINSURED INSTITU-
TIONS.—’’; and
(D) by redesignating subparagraphs (A)
and (C) as paragraphs (1) and (3), respectively,
and moving the left margins 2 ems to the left;
(6) in section 5(e) (12 U.S.C. 1815(e))—
(A) in paragraph (5)(A), by striking
‘‘Bank Insurance Fund or the Savings Associa-
tion Insurance Fund’’ and inserting ‘‘Deposit
Insurance Fund’’;
(B) by striking paragraph (6); and
(C) by redesignating paragraphs (7), (8),
and (9) as paragraphs (6), (7), and (8), respec-
tively;
(7) in section 6(5) (12 U.S.C. 1816(5)), by
striking ‘‘Bank Insurance Fund or the Savings As-
sociation Insurance Fund’’ and inserting ‘‘Deposit
Insurance Fund’’;
(8) in section 7(b) (12 U.S.C. 1817(b))—
(A) in paragraph (1)(C), by striking ‘‘de-
posit insurance fund’’ each place that term ap-
pears and inserting ‘‘Deposit Insurance Fund’’;
(B) in paragraph (1)(D), by striking ‘‘each
deposit insurance fund’’ and inserting ‘‘the De-
posit Insurance Fund’’;
(C) in paragraph (2)(A)(i)(I), by striking
‘‘each deposit insurance fund’’ and inserting
‘‘the Deposit Insurance Fund’’; and
(D) in paragraph (6)—
(i) by striking ‘‘any such assessment’’
and inserting ‘‘any such assessment is nec-
essary’’;
(ii) by striking subparagraph (B);
(iii) in subparagraph (A)—
(I) by striking ‘‘(A) is nec-
essary—’’;
(II) by striking ‘‘Bank Insurance
Fund Members’’ and inserting ‘‘in-
sured depository institutions’’; and
(III) by redesignating clauses (i),
(ii), and (iii) as subparagraphs (A),
(B), and (C), respectively, and moving
the margins 2 ems to the left; and
(iv) in subparagraph (C) (as redesig-
nated)—
(I) by inserting ‘‘that’’ before
‘‘the Corporation’’; and
(II) by striking ‘‘; and’’ and in-
serting a period;
(9) 
in 
section 
7(j)(7)(F) 
(12 
U.S.C.
1817(j)(7)(F)), by striking ‘‘Bank Insurance Fund
or the Savings Association Insurance Fund’’ and in-
serting ‘‘Deposit Insurance Fund’’;
(10) 
in 
section 
8(t)(2)(C) 
(12 
U.S.C.
1818(t)(2)(C)), by striking ‘‘deposit insurance fund’’
and inserting ‘‘Deposit Insurance Fund’’;
(11) in section 11 (12 U.S.C. 1821), by striking
‘‘deposit insurance fund’’ each place that term ap-
pears and inserting ‘‘Deposit Insurance Fund’’;
(12) in section 11(f)(1) (12 U.S.C. 1821(f)(1)),
by striking ‘‘, except that—’’ and all that follows
through the end of the paragraph and inserting a
period;
(13) 
in 
section 
11(i)(3) 
(12 
U.S.C.
1821(i)(3))—
(A) by striking subparagraph (B);
(B) by redesignating subparagraph (C) as
subparagraph (B); and
(C) in subparagraph (B) (as redesignated),
by striking ‘‘subparagraphs (A) and (B)’’ and
inserting ‘‘subparagraph (A)’’;
(14) 
in 
section 
11(p)(2)(B) 
(12 
U.S.C.
1821(p)(2)(B)), by striking ‘‘institution, any’’ and
inserting ‘‘institution, the’’;
(15) in section 11A(a) (12 U.S.C. 1821a(a))—
(A) in paragraph (2), by striking ‘‘LIABIL-
ITIES.—’’ and all that follows through ‘‘Except’’
and inserting ‘‘LIABILITIES.—Except’’;
(B) by striking paragraph (2)(B); and
(C) in paragraph (3), by striking ‘‘the
Bank Insurance Fund, the Savings Association
Insurance Fund,’’ and inserting ‘‘the Deposit
Insurance Fund’’;
(16) in section 11A(b) (12 U.S.C. 1821a(b)),
by striking paragraph (4);
(17) in section 11A(f) (12 U.S.C. 1821a(f)), by
striking ‘‘Savings Association Insurance Fund’’ and
inserting ‘‘Deposit Insurance Fund’’;
(18) in section 12(f)(4)(E)(iv) (12 U.S.C.
1822(f)(4)(E)(iv)), by striking ‘‘Federal deposit in-
surance funds’’ and inserting ‘‘the Deposit Insur-
ance Fund’’;
(19) in section 13 (12 U.S.C. 1823)—
(A) by striking ‘‘deposit insurance fund’’
each place that term appears and inserting
‘‘Deposit Insurance Fund’’;
(B) in subsection (a)(1), by striking ‘‘Bank
Insurance Fund, the Savings Association Insur-
ance Fund,’’ and inserting ‘‘Deposit Insurance
Fund’’;
(C) in subsection (c)(4)(E)—
(i) in the subparagraph heading, by
striking ‘‘FUNDS’’ and inserting ‘‘FUND’’;
and
(ii) in clause (i), by striking ‘‘any in-
surance fund’’ and inserting ‘‘the Deposit
Insurance Fund’’;
(D) in subsection (c)(4)(G)(ii)—
(i) by striking ‘‘appropriate insurance
fund’’ and inserting ‘‘Deposit Insurance
Fund’’;
(ii) by striking ‘‘the members of the
insurance fund (of which such institution
is a member)’’ and inserting ‘‘insured de-
pository institutions’’;
(iii) by striking ‘‘each member’s’’ and
inserting ‘‘each insured depository institu-
tion’s’’; and
(iv) by striking ‘‘the member’s’’ each
place that term appears and inserting ‘‘the
institution’s’’;
(E) in subsection (c), by striking para-
graph (11);
(F) in subsection (h), by striking ‘‘Bank
Insurance Fund’’ and inserting ‘‘Deposit Insur-
ance Fund’’;
(G) in subsection (k)(4)(B)(i), by striking
‘‘Savings Association Insurance Fund’’ and in-
serting ‘‘savings association’’; and
(H) in subsection (k)(5)(A), by striking
‘‘Savings Association Insurance Fund’’ and in-
serting ‘‘savings association’’;
(20) in section 14(a) (12 U.S.C. 1824(a)), in
the 5th sentence—
(A) by striking ‘‘Bank Insurance Fund or
the Savings Association Insurance Fund’’ and
inserting ‘‘Deposit Insurance Fund’’; and
(B) by striking ‘‘each such fund’’ and in-
serting ‘‘the Deposit Insurance Fund’’;
(21) in section 14(b) (12 U.S.C. 1824(b)), by
striking ‘‘Bank Insurance Fund or Savings Associa-
tion Insurance Fund’’ and inserting ‘‘Deposit Insur-
ance Fund’’;
(22) in section 14(c) (12 U.S.C. 1824(c)), by
striking paragraph (3);
(23) in section 14(d) (12 U.S.C. 1824(d))—
(A) by striking ‘‘Bank Insurance Fund
member’’ each place that term appears and in-
serting ‘‘insured depository institution’’;
(B) by striking ‘‘Bank Insurance Fund
members’’ each place that term appears and in-
serting ‘‘insured depository institutions’’;
(C) by striking ‘‘Bank Insurance Fund’’
each place that term appears (other than in
connection with a reference to a Bank Insur-
ance Fund member) and inserting ‘‘Deposit In-
surance Fund’’;
(D) by striking the subsection heading and
inserting the following:
‘‘(d) BORROWING
FOR
THE DEPOSIT INSURANCE
FUND FROM INSURED DEPOSITORY INSTITUTIONS.—’’;
(E) in paragraph (3), in the paragraph
heading, by striking ‘‘BIF’’ and inserting ‘‘THE
DEPOSIT INSURANCE FUND’’; and
(F) in paragraph (5), in the paragraph
heading, by striking ‘‘BIF MEMBERS’’ and in-
serting ‘‘INSURED DEPOSITORY INSTITUTIONS’’;
(24) in section 14 (12 U.S.C. 1824) by adding
at the end the following:
‘‘(e) BORROWING
FOR
THE DEPOSIT INSURANCE
FUND FROM FEDERAL HOME LOAN BANKS.—
‘‘(1) IN GENERAL.—The Corporation may bor-
row from the Federal home loan banks, with the
concurrence of the Federal Housing Finance Board,
such funds as the Corporation considers necessary
for the use of the Deposit Insurance Fund.
‘‘(2) TERMS AND CONDITIONS.—Any loan from
any Federal home loan bank under paragraph (1) to
the Deposit Insurance Fund shall—
‘‘(A) bear a rate of interest of not less
than the current marginal cost of funds to that
bank, taking into account the maturities in-
volved;
‘‘(B) be adequately secured, as determined
by the Federal Housing Finance Board;
‘‘(C) be a direct liability of the Deposit In-
surance Fund; and
‘‘(D) be subject to the limitations of sec-
tion 15(c).’’;
(25) 
in 
section 
15(c)(5) 
(12 
U.S.C.
1825(c)(5))—
(A) by striking ‘‘the Bank Insurance Fund
or Savings Association Insurance Fund, respec-
tively’’ each place that term appears and insert-
ing ‘‘the Deposit Insurance Fund’’; and
(B) in subparagraph (B), by striking ‘‘the
Bank Insurance Fund or the Savings Associa-
tion Insurance Fund, respectively’’ and insert-
ing ‘‘the Deposit Insurance Fund’’;
(26) in section 17(a) (12 U.S.C. 1827(a))—
(A) in the subsection heading, by striking
‘‘BIF, SAIF,’’ and inserting ‘‘THE DEPOSIT IN-
SURANCE FUND’’; and
(B) in paragraph (1)—
(i) by striking ‘‘the Bank Insurance
Fund, the Savings Association Insurance
Fund,’’ each place that term appears and
inserting ‘‘the Deposit Insurance Fund’’;
and
(ii) in subparagraph (D), by striking
‘‘each insurance fund’’ and inserting ‘‘each
such fund’’;
(27) in section 17(d) (12 U.S.C. 1827(d)), by
striking ‘‘, the Bank Insurance Fund, the Savings
Association Insurance Fund,’’ each place that term
appears and inserting ‘‘the Deposit Insurance
Fund’’;
(28) 
in 
section 
18(m)(3) 
(12 
U.S.C.
1828(m)(3))—
(A) by striking ‘‘Savings Association In-
surance Fund’’ each place that term appears
and inserting ‘‘Deposit Insurance Fund’’; and
(B) in subparagraph (C), by striking ‘‘or
the Bank Insurance Fund’’;
(29) in section 18(o) (12 U.S.C. 1828(o)), by
striking ‘‘deposit insurance funds’’ and ‘‘deposit in-
surance fund’’ each place those terms appear and in-
serting ‘‘Deposit Insurance Fund’’;
(30) in section 18(p) (12 U.S.C. 1828(p)), by
striking ‘‘deposit insurance funds’’ and inserting
‘‘Deposit Insurance Fund’’;
(31) in section 24 (12 U.S.C. 1831a)—
(A) in subsections (a)(1) and (d)(1)(A), by
striking ‘‘appropriate deposit insurance fund’’
each place that term appears and inserting
‘‘Deposit Insurance Fund’’;
(B) in subsection (e)(2)(A), by striking
‘‘risk to’’ and all that follows through the pe-
riod and inserting ‘‘risk to the Deposit Insur-
ance Fund.’’; and
(C) 
in 
subsections 
(e)(2)(B)(ii) 
and
(f)(6)(B), by striking ‘‘the insurance fund of
which such bank is a member’’ each place that