repurchase transaction is a ‘repurchase agreement’, 
as defined in clause (v))’’. 
(c) DEFINITION OF SWAP AGREEMENT.—
(1) 
FDIC-INSURED
DEPOSITORY
INSTITU-
TIONS.—Section 11(e)(8)(D)(vi) of the Federal De-
posit Insurance Act (12 U.S.C. 1821(e)(8)(D)(vi)) is 
amended—
(A) in subclause (I)—
(i) by striking ‘‘or precious metals’’ 
and inserting ‘‘, precious metals, or other 
commodity’’; and 
(ii) by striking ‘‘or a weather swap, 
weather derivative, or weather option’’ and 
inserting ‘‘weather swap, option, future, or 
forward agreement; an emissions swap, op-
tion, future, or forward agreement; or an 
inflation swap, option, future, or forward 
agreement’’; 
(B) in subclause (II)—
(i) by inserting ‘‘or other derivatives’’ 
after ‘‘dealings in the swap’’; and 
(ii) by striking ‘‘future, or option’’ 
and inserting ‘‘future, option, or spot 
transaction’’; and
(C) by striking ‘‘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 Invest-
ment Company Act of 1940, the Investment 
Advisers Act of 1940, the Securities Investor 
Protection Act of 1970, the Commodity Ex-
change Act, the Gramm-Leach-Bliley Act, and 
the Legal Certainty for Bank Products Act of 
2000’’ and inserting ‘‘the Gramm-Leach-Bliley 
Act, the Legal Certainty for Bank Products Act 
of 2000, the securities laws (as such term is de-
fined in section 3(a)(47) of the Securities Ex-
change Act of 1934) and the Commodity Ex-
change Act’’. 
(2) 
INSURED
CREDIT
UNIONS.—Section 
207(c)(8)(D)(vi) of the Federal Credit Union Act 
(12 U.S.C. 1787(c)(8)(D)(vi)) is amended—
(A) in subclause (I)—
(i) by striking ‘‘or precious metals’’ 
and inserting ‘‘, precious metals, or other 
commodity’’; and 
(ii) by striking ‘‘or a weather swap, 
weather derivative, or weather option’’ and 
inserting ‘‘weather swap, option, future, or
forward agreement; an emissions swap, op-
tion, future, or forward agreement; or an 
inflation swap, option, future, or forward 
agreement’’; 
(B) in subclause (II)—
(i) by inserting ‘‘or other derivatives’’ 
after ‘‘dealings in the swap’’; and 
(ii) by striking ‘‘future, or option’’ 
and inserting ‘‘future, option, or spot 
transaction’’; and 
(C) by striking ‘‘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 Invest-
ment Company Act of 1940, the Investment 
Advisers Act of 1940, the Securities Investor 
Protection Act of 1970, the Commodity Ex-
change Act, the Gramm-Leach-Bliley Act, and 
the Legal Certainty for Bank Products Act of 
2000’’ and inserting ‘‘the Gramm-Leach-Bliley 
Act, the Legal Certainty for Bank Products Act 
of 2000, the securities laws (as such term is de-
fined in section 3(a)(47) of the Securities Ex-
change Act of 1934) and the Commodity Ex-
change Act’’.
SEC. 3. CLARIFYING AMENDMENTS RELATING TO DEFINI-
TION OF PERSON. 
(a) FDIC-INSURED DEPOSITORY INSTITUTIONS 
DEFINITION
OF PERSON.—Section 11(e)(8)(D) of the 
Federal Deposit Insurance Act (12 U.S.C. 1821(e)(8)(D)) 
is amended by adding at the end the following: 
‘‘(ix) PERSON.—The term ‘person’ includes 
any governmental entity in addition to any enti-
ty included in the definition of such term in 
section 1 of title 1, United States Code.’’. 
(b) INSURED CREDIT UNIONS DEFINITION OF PER-
SON.—Section 207(c)(8)(D) of the Federal Credit Union 
Act (12 U.S.C. 1787(c)(8)(D)) is amended by adding at 
the end the following: 
‘‘(ix) PERSON.—The term ‘person’ in-
cludes any governmental entity in addition 
to any entity included in the definition of 
such term in section 1 of title 1, United 
States Code.’’. 
SEC. 4. FEDERAL DEPOSIT INSURANCE CORPORATION IM-
PROVEMENT ACT OF 1991. 
(a) ENFORCEABILITY OF BILATERAL NETTING CON-
TRACTS.—Section 403 of the Federal Deposit Insurance 
Corporation Improvement Act of 1991 (12 U.S.C. 4403) 
is amended—