Federal Deposit Insurance Reform Conforming Amendments Act of 2005
PL 109-173 (H.R.4636), enacted 02/15/2006

119 STAT. 3601
PUBLIC LAW 109–173—FEB. 15, 2006
Public Law 109–173
109th Congress
An Act
To enact the technical and conforming amendments necessary to implement the
Federal Deposit Insurance Reform Act of 2005, and for other purposes.
Be it enacted by the Senate and House of Representatives of
the United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ‘‘Federal Deposit Insurance Reform
Conforming Amendments Act of 2005’’.
SEC. 2. TECHNICAL AND CONFORMING AMENDMENTS.
(a) TECHNICAL AND CONFORMING AMENDMENTS RELATING TO
GOVERNMENT DEPOSITS.—Section 11(a)(2) of the Federal Deposit
Insurance Act (12 U.S.C. 1821(a)(2)) is amended—
(1) in subparagraph (A)—
(A) by moving the margins of clauses (i) through (v)
4 ems to the right;
(B) by striking, in the matter following clause (v),
‘‘such depositor shall’’ and all that follows through the
period; and
(C) by striking the semicolon at the end of clause
(v) and inserting a period;
(2) by striking ‘‘(2)(A) Notwithstanding’’ and all that follows
through ‘‘a depositor who is—’’ and inserting the following:
‘‘(2) GOVERNMENT DEPOSITORS.—
‘‘(A) IN GENERAL.—Notwithstanding any limitation in
this Act or in any other provision of law relating to the
amount of deposit insurance available to any 1 depositor—
‘‘(i) a government depositor shall, for the purpose
of determining the amount of insured deposits under
this subsection, be deemed to be a depositor separate
and distinct from any other officer, employee, or agent
of the United States or any public unit referred to
in subparagraph (B); and
‘‘(ii) except as provided in subparagraph (C), the
deposits of a government depositor shall be insured
in an amount equal to the standard maximum deposit
insurance amount (as determined under paragraph
(1)).
‘‘(B) GOVERNMENT DEPOSITOR.—In this paragraph, the
term ‘government depositor’ means a depositor that
is—’’;
(3) by striking ‘‘(B) The’’ and inserting the following:
‘‘(C) AUTHORITY TO LIMIT DEPOSITS.—The’’; and
Federal Deposit
Insurance
Reform
Conforming
Amendments Act
of 2005.
12 USC 1811
note.
Feb. 15, 2006
[H.R. 4636]
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PUBLIC LAW 109–173—FEB. 15, 2006
(4) by striking ‘‘depositor referred to in subparagraph (A)
of this paragraph’’ each place such term appears and inserting
‘‘government depositor’’.
(b) TECHNICAL
AND CONFORMING AMENDMENT RELATING
TO
INSURANCE OF TRUST FUNDS.—Paragraphs (1) and (3) of section
7(i) of the Federal Deposit Insurance Act (12 U.S.C. 1817(i)) are
each amended by striking ‘‘$100,000’’ and inserting ‘‘the standard
maximum deposit insurance amount (as determined under section
11(a)(1))’’.
(c) OTHER TECHNICAL AND CONFORMING AMENDMENTS.—
(1) Section 11(m)(6) of the Federal Deposit Insurance 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’’.
(2) Subsection (a) of section 18 of the Federal Deposit
Insurance Act (12 U.S.C. 1828(a)) is amended to read as follows:
‘‘(a) INSURANCE LOGO.—
‘‘(1) INSURED DEPOSITORY INSTITUTIONS.—
‘‘(A) IN GENERAL.—Each insured depository institution
shall display at each place of business maintained by that
institution a sign or signs relating to the insurance of
the deposits of the institution, in accordance with regula-
tions to be prescribed by the Corporation.
‘‘(B) STATEMENT TO BE INCLUDED.—Each sign required
under subparagraph (A) shall include a statement that
insured deposits are backed by the full faith and credit
of the United States Government.
‘‘(2) REGULATIONS.—The Corporation shall prescribe regula-
tions to carry out this subsection, including regulations gov-
erning the substance of signs required by paragraph (1) and
the manner of display or use of such signs.
‘‘(3) PENALTIES.—For each day that an insured depository
institution continues to violate this subsection or any regulation
issued under this subsection, it shall be subject to a penalty
of not more than $100, which the Corporation may recover
for its use.’’.
(3) Section 43(d) of the Federal Deposit Insurance Act
(12 U.S.C. 1831t(d)) is amended by striking ‘‘$100,000’’ and
inserting ‘‘an amount equal to the standard maximum deposit
insurance amount’’.
(4) Section 6 of the International Banking Act of 1978
(12 U.S.C. 3104) is amended—
(A) by striking ‘‘$100,000’’ each place such term
appears and inserting ‘‘an amount equal to the standard
maximum deposit insurance 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 max-
imum deposit insurance amount’ means the amount of the max-
imum amount of deposit insurance as determined under section
11(a)(1) of the Federal Deposit Insurance Act.’’.
(d) CONFORMING CHANGE TO CREDIT UNION SHARE INSURANCE
FUND.—
(1) IN
GENERAL.—Section 207(k) of the Federal Credit
Union Act (12 U.S.C. 1787(k)) is amended—
(A) by striking ‘‘(k)(1)’’ and all that follows through
the end of paragraph (1) and inserting the following:
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119 STAT. 3603
PUBLIC LAW 109–173—FEB. 15, 2006
‘‘(k) INSURED AMOUNTS PAYABLE.—
‘‘(1) NET INSURED AMOUNT.—
‘‘(A) IN GENERAL.—Subject to the provisions of para-
graph (2), the net amount of share insurance payable to
any member at an insured credit union shall not exceed
the total amount of the shares or deposits in the name
of the member (after deducting offsets), less any part
thereof which is in excess of the standard maximum share
insurance amount, as determined in accordance with this
paragraph and paragraphs (5) and (6), and consistently
with actions taken by the Federal Deposit Insurance Cor-
poration under section 11(a) of the Federal Deposit Insur-
ance Act.
‘‘(B) AGGREGATION.—Determination of the net amount
of share insurance under subparagraph (A), shall be in
accordance with such regulations as the Board may pre-
scribe, and, in determining the amount payable to any
member, there shall be added together all accounts in
the credit union maintained by that member for that mem-
ber’s own benefit, either in the member’s own name or
in the names of others.
‘‘(C) AUTHORITY TO DEFINE THE EXTENT OF COVERAGE.—
The Board may define, with such classifications and excep-
tions as it may prescribe, the extent of the share insurance
coverage provided for member accounts, including member
accounts in the name of a minor, in trust, or in joint
tenancy.’’;
(B) in paragraph (2)—
(i) in subparagraph (A)—
(I) in clauses (i) through (v), by moving the
margins 4 ems to the right;
(II) in the matter following clause (v), by
striking ‘‘his account’’ and all that follows through
the period; and
(III) by striking the semicolon at the end of
clause (v) and inserting a period;
(ii) by striking ‘‘(2)(A) Notwithstanding’’ and all
that follows through ‘‘a depositor or member who
is—’’ and inserting the following:
‘‘(2) GOVERNMENT DEPOSITORS OR MEMBERS.—
‘‘(A) IN GENERAL.—Notwithstanding any limitation in
this Act or in any other provision of law relating to the
amount of insurance available to any 1 depositor or
member, deposits or shares of a government depositor or
member shall be insured in an amount equal to the
standard maximum share insurance amount (as deter-
mined under paragraph (5)), subject to subparagraph (C).
‘‘(B) GOVERNMENT DEPOSITOR.—In this paragraph, the
term ‘government depositor’ means a depositor that
is—’’;
(iii) by striking ‘‘(B) The’’ and inserting the fol-
lowing:
‘‘(C) AUTHORITY TO LIMIT DEPOSITS.—The’’; and
(iv) by striking ‘‘depositor or member referred to
in subparagraph (A)’’ and inserting ‘‘government
depositor or member’’; and
(C) by adding at the end the following new paragraphs:
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119 STAT. 3604
PUBLIC LAW 109–173—FEB. 15, 2006
‘‘(4) COVERAGE
FOR
CERTAIN
EMPLOYEE
BENEFIT
PLAN
DEPOSITS.—
‘‘(A) PASS-THROUGH INSURANCE.—The Administration
shall provide pass-through share insurance for the deposits
or shares of any employee benefit plan.
‘‘(B) PROHIBITION ON ACCEPTANCE OF DEPOSITS.—An
insured credit union that is not well capitalized or ade-
quately capitalized may not accept employee benefit plan
deposits.
‘‘(C) DEFINITIONS.—For purposes of this paragraph, the
following definitions shall apply:
‘‘(i) CAPITAL STANDARDS.—The terms ‘well capital-
ized’ and ‘adequately capitalized’ have the same
meanings as in section 216(c).
‘‘(ii) 
EMPLOYEE
BENEFIT
PLAN.—The 
term
‘employee benefit plan’—
‘‘(I) has the meaning given to such term in
section 3(3) of the Employee Retirement Income
Security Act of 1974;
‘‘(II) includes any plan described in section
401(d) of the Internal Revenue Code of 1986; and
‘‘(III) includes any eligible deferred compensa-
tion plan described in section 457 of the Internal
Revenue Code of 1986.
‘‘(iii) PASS-THROUGH SHARE INSURANCE.—The term
‘pass-through share insurance’ means, with respect to
an employee benefit plan, insurance coverage based
on the interest of each participant, in accordance with
regulations issued by the Administration.
‘‘(D) RULE
OF
CONSTRUCTION.—No provision of this
paragraph shall be construed as authorizing an insured
credit union to accept the deposits of an employee benefit
plan in an amount greater than such credit union is author-
ized to accept under any other provision of Federal or
State law.
‘‘(5) STANDARD
MAXIMUM
SHARE
INSURANCE
AMOUNT
DEFINED.—For purposes of this Act, the term ‘standard max-
imum share insurance amount’ means $100,000, adjusted as
provided under section 11(a)(1)(F) of the Federal Deposit Insur-
ance Act.’’.
(2) INCREASE IN SHARE INSURANCE FOR CERTAIN RETIRE-
MENT ACCOUNTS.—Section 207(k)(3) of the Federal Credit Union
Act (12 U.S.C. 1787(k)(3)) is amended by striking ‘‘$100,000’’
and inserting ‘‘ ‘$250,000 (which amount shall be subject to
inflation adjustments as provided under section 11(a)(1)(F) of
the Federal Deposit Insurance Act, except that $250,000 shall
be substituted for $100,000 wherever such term appears in
such section)’ ’’.
(3) OTHER
TECHNICAL
AND
CONFORMING
AMENDMENTS.—
Section 205(a) of the Federal Credit Union Act (12 U.S.C.
1785(a)) is amended to read as follows:
‘‘(a) INSURANCE LOGO.—
‘‘(1) INSURED CREDIT UNIONS.—
‘‘(A) IN GENERAL.—Each insured credit union shall dis-
play at each place of business maintained by that credit
union a sign or signs relating to the insurance of the
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119 STAT. 3605
PUBLIC LAW 109–173—FEB. 15, 2006
share accounts of the institution, in accordance with regula-
tions to be prescribed by the Board.
‘‘(B) STATEMENT TO BE INCLUDED.—Each sign required
under subparagraph (A) shall include a statement that
insured share accounts are backed by the full faith and
credit of the United States Government.
‘‘(2) REGULATIONS.—The Board shall prescribe regulations
to carry out this subsection, including regulations governing
the substance of signs required by paragraph (1) and the
manner of display or use of such signs.
‘‘(3) PENALTIES.—For each day that an insured credit union
continues to violate this subsection or any regulation issued
under this subsection, it shall be subject to a penalty of not
more than $100, which the Board may recover for its use.’’.
(e) EFFECTIVE DATE.—This section and the amendments made
by this section shall take effect on the date on which the final
regulations required under section 2109(a)(2) of the Federal Deposit
Insurance Reform Act of 2005 take effect.
SEC. 3. CONFORMING AMENDMENTS RELATING TO ASSESSMENTS AND
REPEAL OF SPECIAL RULES RELATING TO MINIMUM
ASSESSMENTS AND FREE DEPOSIT INSURANCE.
(a) IN GENERAL.—The Federal Deposit Insurance Act (12 U.S.C.
1811 et seq.) is amended as follows:
(1) Paragraph (3) of section 7(a) of the Federal Deposit
Insurance Act (12 U.S.C. 1817(a)) is amended by striking the
3d sentence and inserting the following: ‘‘Such reports of condi-
tion shall be the basis for the certified statements to be filed
pursuant to subsection (c).’’.
(2) Subparagraphs (B)(ii) and (C) of section 7(b)(1) of the
Federal Deposit Insurance Act (12 U.S.C. 1817(b)(1)) are each
amended by striking ‘‘semiannual’’ where such term appears
in each such subparagraph.
(3) Section 7(b)(2) of the Federal Deposit Insurance Act
(12 U.S.C. 1817(b)(2)) is amended—
(A) by striking subparagraphs (E), (F), and (G);
(B) in subparagraph (C), by striking ‘‘semiannual’’; and
(C) by redesignating subparagraph (H) (as amended
by subsection (e)(2) of this section) as subparagraph (E).
(4) Section 7(b) of the Federal Deposit Insurance Act (12
U.S.C. 1817(b)) is amended by striking paragraph (4) and
redesignating paragraphs (5) (as amended by subsection (b)
of this section), (6), and (7) as paragraphs (4), (5), and (6)
respectively.
(5) Section 7(c) of the Federal Deposit Insurance Act (12
U.S.C. 1817(c)) is amended—
(A) in paragraph (1)(A), by striking ‘‘semiannual’’;
(B) in paragraph (2)(A), by striking ‘‘semiannual’’; and
(C) in paragraph (3), by striking ‘‘semiannual period’’
and inserting ‘‘initial assessment period’’.
(6) Section 8(p) of the Federal Deposit Insurance Act (12
U.S.C. 1818(p)) is amended by striking ‘‘semiannual’’.
(7) Section 8(q) of the Federal Deposit Insurance Act (12
U.S.C. 1818(q)) is amended by striking ‘‘semiannual period’’
and inserting ‘‘assessment period’’.
12 USC 1785
note.
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119 STAT. 3606
PUBLIC LAW 109–173—FEB. 15, 2006
(8) Section 13(c)(4)(G)(ii)(II) of the Federal Deposit Insur-
ance Act (12 U.S.C. 1823(c)(4)(G)(ii)(II)) is amended by striking
‘‘semiannual period’’ and inserting ‘‘assessment period’’.
(9) Section 232(a) of the Federal Deposit Insurance Cor-
poration Improvement Act of 1991 (12 U.S.C. 1834(a)) is
amended—
(A) in the matter preceding subparagraph (A) of para-
graph (2), by striking ‘‘the Board and’’;
(B) in subparagraph (J) of paragraph (2), by striking
‘‘the Board’’ and inserting ‘‘the Corporation’’;
(C) by striking subparagraph (A) of paragraph (3) and
inserting the following new subparagraph:
‘‘(A) CORPORATION.—The term ‘Corporation’ means the
Federal Deposit Insurance Corporation.’’; and
(D) in subparagraph (C) of paragraph (3), by striking
‘‘Board’’ and inserting ‘‘Corporation’’.
(b) EFFECTIVE DATE.—This section and the amendments made
by this section shall take effect on the date that the final regulations
required under section 2109(a)(5) of the Federal Deposit Insurance
Reform Act of 2005 take effect.
SEC. 4. TECHNICAL AND CONFORMING AMENDMENTS RELATING TO
REPLACEMENT OF FIXED DESIGNATED RESERVE RATIO
WITH RESERVE RANGE.
(a) IN GENERAL.—Section 3(y) of the Federal Deposit Insurance
Act (12 U.S.C. 1813(y)) is amended—
(1) by striking ‘‘(y) The term’’ and inserting the following:
‘‘(y) DEFINITIONS RELATING TO DEPOSIT INSURANCE FUND.—
‘‘(1) DEPOSIT INSURANCE FUND.—The term’’; and
(2) by inserting after paragraph (1) (as so designated by
paragraph (1) of this subsection) the following new paragraph:
‘‘(2) DESIGNATED
RESERVE
RATIO.—The term ‘designated
reserve ratio’ means the reserve ratio designated by the Board
of Directors in accordance with section 7(b)(3).’’.
(b) EFFECTIVE DATE.—This section and the amendments made
by this section shall take effect on the date that the final regulations
required under section 2109(a)(1) of the Federal Deposit Insurance
Reform Act of 2005 take effect.
SEC. 5. REPORT TO CONGRESS ON REFUNDS, DIVIDENDS, AND
CREDITS FROM DEPOSIT INSURANCE FUND.
(a) SUBMISSION.—Any determination under section 7(e)(2)(E)
of the Federal Deposit Insurance Act, as added by section 2107(a)
of the Federal Deposit Insurance Reform Act of 2005, shall be
submitted to the Committee on Banking, Housing, and Urban
Affairs of the Senate and the Committee on Financial Services
of the House of Representatives, not later than 270 days after
making such determination.
(b) CONTENT.—The report submitted under subsection (a) shall
include—
(1) a detailed explanation for the determination; and
(2) a discussion of the factors required to be considered
under section 7(e)(2)(F) of the Federal Deposit Insurance Act,
as added by section 2107(a) of the Federal Deposit Insurance
Reform Act of 2005.
12 USC 1817
note.
12 USC 1813
note.
12 USC 1817
note.
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119 STAT. 3607
PUBLIC LAW 109–173—FEB. 15, 2006
SEC. 6. STUDIES OF FDIC STRUCTURE AND EXPENSES AND CERTAIN
ACTIVITIES AND FURTHER POSSIBLE CHANGES TO
DEPOSIT INSURANCE SYSTEM.
(a) STUDY BY COMPTROLLER GENERAL.—
(1) STUDY REQUIRED.—The Comptroller General shall con-
duct a study of the following issues:
(A) The efficiency and effectiveness of the administra-
tion of the prompt corrective action program under section
38 of the Federal Deposit Insurance Act by the Federal
banking agencies (as defined in section 3 of such Act),
including the degree of effectiveness of such agencies in
identifying troubled depository institutions and taking
effective action with respect to such institutions, and the
degree of accuracy of the risk assessments made by the
Corporation.
(B) The appropriateness of the organizational structure
of the Federal Deposit Insurance Corporation for the mis-
sion of the Corporation taking into account—
(i) the current size and complexity of the business
of insured depository institutions (as such term is
defined in section 3 of the Federal Deposit Insurance
Act);
(ii) the extent to which the organizational structure
contributes to or reduces operational inefficiencies that
increase operational costs; and
(iii) the effectiveness of internal controls.
(2) REPORT TO THE CONGRESS.—The Comptroller 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 legislative or
administrative action as the Comptroller General may deter-
mine to be appropriate.
(b) STUDY OF FURTHER POSSIBLE CHANGES TO DEPOSIT INSUR-
ANCE 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 fol-
lowing:
(A) The feasibility of establishing a voluntary deposit
insurance system for deposits in excess of the maximum
amount of deposit insurance for any depositor and the
potential benefits and the potential adverse consequences
that may result from the establishment of any such system.
(B) The feasibility of increasing the limit on deposit
insurance for deposits of municipalities and other units
of general local government, and the potential benefits
and the potential adverse consequences that may result
from any such increase.
(C) The feasibility of privatizing all deposit insurance
at insured depository institutions and insured credit
unions.
(2) REPORT.—Before the end of the 1-year period 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 report
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to the Congress on the study required under paragraph (1)
containing the findings and conclusions of the reporting agency
together with such recommendations for legislative or adminis-
trative changes as the agency may determine to be appropriate.
(c) STUDY REGARDING APPROPRIATE DEPOSIT BASE IN DESIG-
NATING RESERVE RATIO.—
(1) STUDY REQUIRED.—The Federal Deposit Insurance Cor-
poration shall conduct a study of the feasibility of using alter-
natives to estimated insured deposits in calculating the reserve
ratio of the Deposit Insurance Fund and designating a reserve
ratio for such Fund.
(2) REPORT.—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 Corporation
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 deter-
mine to be appropriate.
(d) STUDY OF RESERVE METHODOLOGY AND ACCOUNTING FOR
LOSS.—
(1) STUDY REQUIRED.—The Federal Deposit Insurance Cor-
poration shall conduct a study of the reserve methodology and
loss accounting used by the Corporation during the period
beginning on January 1, 1992, and ending December 31, 2004,
with respect to insured depository institutions in a troubled
condition (as defined in the regulations prescribed pursuant
to section 32(f) of the Federal Deposit Insurance Act). The
Corporation shall obtain comments on the design of the study
from the Comptroller General.
(2) FACTORS TO BE INCLUDED.—In conducting the study
pursuant to paragraph (1), the Federal Deposit Insurance Cor-
poration shall—
(A) consider the overall effectiveness and accuracy of
the methodology used by the Corporation for establishing
and maintaining reserves and estimating and accounting
for losses at insured depository institutions, during the
period described in such paragraph;
(B) consider the appropriateness and reliability of
information and criteria used by the Corporation in deter-
mining—
(i) whether an insured depository institution was
in a troubled condition; and
(ii) the amount of any loss anticipated at such
institution;
(C) analyze the actual historical loss experience over
the period described in paragraph (1) and the causes of
the exceptionally high rate of losses experienced by the
Corporation in the final 3 years of that period; and
(D) rate the efforts of the Corporation to reduce losses
in such 3-year period to minimally acceptable levels and
to historical levels.
(3) REPORT REQUIRED.—The Board of Directors of the Fed-
eral 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 Corporation with respect to the study
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required under paragraph (1), together with such recommenda-
tions for legislative or administrative action as the Board of
Directors may determine to be appropriate. Before submitting
the report to Congress, the Board of Directors shall provide
a draft of the report to the Comptroller General for comment.
(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
financial system of the United States of the implementation
of the new Basel Capital Accord (Basel II) and the proposed
revisions to current reserve requirement regulations for non-
Basel II banks.
(2) FACTORS TO BE INCLUDED.—The report required under
paragraph (1) shall address the following:
(A) The potential impact of Basel II on capital require-
ments in the United States, including—
(i) whether there would be a reduction in capital
requirements;
(ii) whether Basel II could hinder enforcement of
prompt corrective action laws and regulations; and
(iii) the potential implications any changes in cap-
ital requirements may have on the safety and sound-
ness of the financial 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
(iii) the ability of regulators to oversee capital
requirement operations of financial institutions.
(C) The ability of the United States financial institution
regulatory agencies—
(i) to attract and retain sufficient expertise, both
among specialists and examiners; 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 INCREASING THE
DEPOSIT BASE BY ENCOURAGING 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 ENCOURAGING
USE OF DEPOSITORY INSTITUTIONS BY THE UNBANKED.
‘‘(a) SURVEY REQUIRED.—
‘‘(1) IN
GENERAL.—The Corporation shall conduct a bi-
annual survey on efforts by insured depository institutions
to bring those individuals and families who have rarely, if
ever, held a checking account, a savings account or other type
of transaction or check cashing account at an insured depository
12 USC 1831z.
Deadline.
Reports.
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PUBLIC LAW 109–173—FEB. 15, 2006
institution (hereafter in this section referred to as the
‘unbanked’) into the conventional finance system.
‘‘(2) FACTORS AND QUESTIONS TO CONSIDER.—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 financial literacy outreach?
‘‘(B) Which financial education efforts appear 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 customers into conventional
account holders?
‘‘(D) What cultural, language and identification issues
as well as transaction costs appear to most prevent
‘unbanked’ individuals from establishing conventional
accounts?
‘‘(E) What is a fair estimate of the size and worth
of the ‘unbanked’ market in the United States?
‘‘(b) REPORTS.—The Chairperson of the Board of Directors shall
submit a bi-annual report to the Committee on Financial Services
of the House of Representatives and the Committee on Banking,
Housing, and Urban Affairs of the Senate containing the Corpora-
tion’s findings and conclusions with respect to the survey conducted
pursuant to subsection (a), together with such recommendations
for legislative or administrative action as the Chairperson may
determine to be appropriate.’’.
SEC. 8. TECHNICAL AND CONFORMING AMENDMENTS TO THE FED-
ERAL DEPOSIT INSURANCE ACT RELATING TO THE
MERGER OF THE BIF AND SAIF.
(a) IN GENERAL.—The Federal Deposit Insurance Act (12 U.S.C.
1811 et seq.) is amended—
(1) in section 3 (12 U.S.C. 1813)—
(A) by striking subparagraph (B) of subsection (a)(1)
and inserting the following new subparagraph:
‘‘(B) includes any former savings association.’’; and
(B) by striking paragraph (1) of subsection (y) (as so
designated by section 4(b) of this title) and inserting the
following new paragraph:
‘‘(1) DEPOSIT INSURANCE FUND.—The term ‘Deposit Insur-
ance Fund’ means the Deposit Insurance Fund established
under section 11(a)(4).’’;
(2) in section 5(b)(5) (12 U.S.C. 1815(b)(5)), by striking
‘‘the Bank Insurance Fund or the Savings Association Insurance
Fund,’’ and inserting ‘‘the Deposit Insurance Fund,’’;
(3) in section 5(c)(4), by striking ‘‘deposit insurance fund’’
and inserting ‘‘Deposit Insurance Fund’’;
(4) in section 5(d) (12 U.S.C. 1815(d)), by striking para-
graphs (2) and (3) (and any funds resulting from the application
of such paragraph (2) prior to its repeal shall be deposited
into the general fund of the Deposit Insurance Fund);
(5) in section 5(d)(1) (12 U.S.C. 1815(d)(1))—
(A) in subparagraph (A), by striking ‘‘reserve ratios
in the Bank Insurance Fund and the Savings Association
12 USC 1815
note.
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Insurance Fund as required by section 7’’ and inserting
‘‘the reserve ratio of the Deposit Insurance Fund’’;
(B) by striking subparagraph (B) and inserting the
following:
‘‘(2) FEE
CREDITED
TO
THE
DEPOSIT
INSURANCE
FUND.—
The fee paid by the depository institution under paragraph
(1) shall be credited to the Deposit Insurance Fund.’’;
(C) by striking ‘‘(1) UNINSURED INSTITUTIONS.—’’; 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 Association 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), respectively;
(7) in section 6(5) (12 U.S.C. 1816(5)), by striking ‘‘Bank
Insurance Fund or the Savings Association 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 ‘‘deposit insurance
fund’’ each place that term appears and inserting ‘‘Deposit
Insurance Fund’’;
(B) in paragraph (1)(D), by striking ‘‘each deposit insur-
ance fund’’ and inserting ‘‘the Deposit Insurance Fund’’;
and
(C) in paragraph (5) (as so redesignated by section
3(d)(4))—
(i) by striking ‘‘any such assessment’’ and inserting
‘‘any such assessment is necessary’’;
(ii) by striking subparagraph (B);
(iii) in subparagraph (A)—
(I) by striking ‘‘(A) is necessary—’’;
(II) by striking ‘‘Bank Insurance Fund mem-
bers’’ and inserting ‘‘insured depository institu-
tions’’; 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 so redesignated)—
(I) by inserting ‘‘that’’ before ‘‘the Corporation’’;
and
(II) by striking ‘‘; and’’ and inserting 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 inserting ‘‘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 Insur-
ance Fund’’;
(11) in section 11 (12 U.S.C. 1821)—
(A) by striking ‘‘deposit insurance fund’’ each place
that term appears and inserting ‘‘Deposit Insurance Fund’’;
(B) by striking paragraph (4) of subsection (a) and
inserting the following new paragraph:
‘‘(4) DEPOSIT INSURANCE FUND.—
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PUBLIC LAW 109–173—FEB. 15, 2006
‘‘(A) ESTABLISHMENT.—There is established the Deposit
Insurance Fund, which the Corporation shall—
‘‘(i) maintain and administer;
‘‘(ii) use to carry out its insurance purposes, in
the manner provided by this subsection; and
‘‘(iii) invest in accordance with section 13(a).
‘‘(B) USES.—The Deposit Insurance Fund shall be avail-
able to the Corporation for use with respect to insured
depository institutions the deposits of which are insured
by the Deposit Insurance Fund.
‘‘(C) LIMITATION ON USE.—Notwithstanding any provi-
sion of law other than section 13(c)(4)(G), the Deposit Insur-
ance Fund shall not be used in any manner to benefit
any shareholder or affiliate (other than an insured deposi-
tory institution that receives assistance in accordance with
the provisions of this Act) of—
‘‘(i) any insured depository institution for which
the Corporation has been appointed conservator or
receiver, in connection with any type of resolution by
the Corporation;
‘‘(ii) any other insured depository institution in
default or in danger of default, in connection with
any type of resolution by the Corporation; or
‘‘(iii) any insured depository institution, in connec-
tion with the provision of assistance under this section
or section 13 with respect to such institution, except
that this clause shall not prohibit any assistance to
any insured depository institution that is not in
default, or that is not in danger of default, that is
acquiring (as defined in section 13(f)(8)(B)) another
insured depository institution.
‘‘(D) DEPOSITS.—All amounts assessed against insured
depository institutions by the Corporation shall be depos-
ited into the Deposit Insurance Fund.’’;
(C) by striking paragraphs (5), (6), and (7) of subsection
(a); and
(D) by redesignating paragraph (8) of subsection (a)
as paragraph (5);
(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 subpara-
graph (B); and
(C) in subparagraph (B) (as so 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 ‘‘LIABILITIES.—’’ and
all that follows through ‘‘Except’’ and inserting ‘‘LIABIL-
ITIES.—Except’’;
(B) by striking paragraph (2)(B); and
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(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 insurance funds’’ and inserting
‘‘the Deposit Insurance Fund (or any predecessor 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 Insurance 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 insurance 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 depository institutions’’;
(iii) by striking ‘‘each member’s’’ and inserting
‘‘each insured depository institution’s’’; and
(iv) by striking ‘‘the member’s’’ each place that
term appears and inserting ‘‘the institution’s’’;
(E) in subsection (c), by striking paragraph (11);
(F) in subsection (h), by striking ‘‘Bank Insurance
Fund’’ and inserting ‘‘Deposit Insurance Fund’’;
(G) in subsection (k)(4)(B)(i), by striking ‘‘Savings
Association Insurance Fund member’’ and inserting
‘‘savings association’’; and
(H) in subsection (k)(5)(A), by striking ‘‘Savings
Association Insurance Fund members’’ and inserting
‘‘savings associations’’;
(20) in section 14(a) (12 U.S.C. 1824(a)), in the 5th sen-
tence—
(A) by striking ‘‘Bank Insurance Fund or the Savings
Association Insurance Fund’’ and inserting ‘‘Deposit Insur-
ance Fund’’; and
(B) by striking ‘‘each such fund’’ and inserting ‘‘the
Deposit Insurance Fund’’;
(21) in section 14(b) (12 U.S.C. 1824(b)), by striking ‘‘Bank
Insurance Fund or Savings Association Insurance Fund’’ and
inserting ‘‘Deposit Insurance Fund’’;
(22) in section 14(c) (12 U.S.C. 1824(c)), by striking para-
graph (3);
(23) in section 14(d) (12 U.S.C. 1824(d))—
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(A) by striking ‘‘Bank Insurance Fund member’’ each
place that term appears and inserting ‘‘insured depository
institution’’;
(B) by striking ‘‘Bank Insurance Fund members’’ each
place that term appears and inserting ‘‘insured depository
institutions’’;
(C) by striking ‘‘Bank Insurance Fund’’ each place that
term appears (other than in connection with a reference
to a term amended by subparagraph (A) or (B) of this
paragraph) and inserting ‘‘Deposit Insurance 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 inserting ‘‘INSURED DEPOSITORY
INSTITUTIONS’’;
(24) in section 14 (12 U.S.C. 1824), by adding at the end
the following new subsection:
‘‘(e) BORROWING FOR THE DEPOSIT INSURANCE FUND FROM FED-
ERAL HOME LOAN BANKS.—
‘‘(1) IN GENERAL.—The Corporation may borrow from the
Federal home loan banks, with the concurrence of the Federal
Housing Finance Board, such funds as the Corporation con-
siders 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 involved;
‘‘(B) be adequately secured, as determined by the Fed-
eral Housing Finance Board;
‘‘(C) be a direct liability of the Deposit Insurance Fund;
and
‘‘(D) be subject to the limitations of section 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, respectively’’ each place that
term appears and inserting ‘‘the Deposit Insurance Fund’’;
and
(B) in subparagraph (B), by striking ‘‘the Bank Insur-
ance Fund or the Savings Association Insurance Fund,
respectively’’ and inserting ‘‘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 INSURANCE 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 insur-
ance fund’’ and inserting ‘‘the Deposit Insurance Fund’’;
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PUBLIC LAW 109–173—FEB. 15, 2006
(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 Insurance Fund’’
in the 1st sentence of subparagraph (A) and inserting
‘‘Deposit Insurance Fund’’;
(B) by striking ‘‘Savings Association Insurance Fund
member’’ in the last sentence of subparagraph (A) and
inserting ‘‘savings association’’; and
(C) by striking ‘‘Savings Association Insurance Fund
or the Bank Insurance Fund’’ in subparagraph (C) and
inserting ‘‘Deposit Insurance Fund’’;
(29) in section 18(o) (12 U.S.C. 1828(o)), by striking ‘‘deposit
insurance funds’’ and ‘‘deposit insurance fund’’ each place those
terms appear and inserting ‘‘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 period and inserting ‘‘risk
to the Deposit Insurance 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 term appears and inserting ‘‘the Deposit
Insurance Fund’’;
(32) in section 28 (12 U.S.C. 1831e), by striking ‘‘affected
deposit insurance fund’’ each place that term appears and
inserting ‘‘Deposit Insurance Fund’’;
(33) by striking section 31 (12 U.S.C. 1831h);
(34) in section 36(i)(3) (12 U.S.C. 1831m(i)(3)), by striking
‘‘affected deposit insurance fund’’ and inserting ‘‘Deposit Insur-
ance Fund’’;
(35) in section 37(a)(1)(C) (12 U.S.C. 1831n(a)(1)(C)), by
striking ‘‘insurance funds’’ and inserting ‘‘Deposit Insurance
Fund’’;
(36) in section 38 (12 U.S.C. 1831o), by striking ‘‘the deposit
insurance fund’’ each place that term appears and inserting
‘‘the Deposit Insurance Fund’’;
(37) in section 38(a) (12 U.S.C. 1831o(a)), in the subsection
heading, by striking ‘‘FUNDS’’ and inserting ‘‘FUND’’;
(38) in section 38(k) (12 U.S.C. 1831o(k))—
(A) in paragraph (1), by striking ‘‘a deposit insurance
fund’’ and inserting ‘‘the Deposit Insurance Fund’’;
(B) in paragraph (2), by striking ‘‘A deposit insurance
fund’’ and inserting ‘‘The Deposit Insurance Fund’’; and
(C) in paragraphs (2)(A) and (3)(B), by striking ‘‘the
deposit insurance fund’s outlays’’ each place that term
appears and inserting ‘‘the outlays of the Deposit Insurance
Fund’’; and
(39) in section 38(o) (12 U.S.C. 1831o(o))—
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119 STAT. 3616
PUBLIC LAW 109–173—FEB. 15, 2006
(A) by striking ‘‘ASSOCIATIONS.—’’ and all that follows
through ‘‘Subsections (e)(2)’’ and inserting ‘‘ASSOCIA-
TIONS.—Subsections (e)(2)’’;
(B) by redesignating subparagraphs (A), (B), and (C)
as paragraphs (1), (2), and (3), respectively, and moving
the margins 2 ems to the left; and
(C) in paragraph (1) (as so redesignated), by redesig-
nating clauses (i) and (ii) as subparagraphs (A) and (B),
respectively, and moving the margins 2 ems to the left.
(b) EFFECTIVE DATE.—This section and the amendments made
by this section shall take effect on the day of the merger of the
Bank Insurance Fund and the Savings Association Insurance Fund
pursuant to the Federal Deposit Insurance Reform Act of 2005.
SEC. 
9. 
OTHER 
TECHNICAL 
AND 
CONFORMING 
AMENDMENTS
RELATING TO THE MERGER OF THE BIF AND SAIF.
(a) SECTION 5136 OF THE REVISED STATUTES.—The paragraph
designated the ‘‘Eleventh’’ of section 5136 of the Revised Statutes
of the United States (12 U.S.C. 24) is amended in the 5th sentence,
by striking ‘‘affected deposit insurance fund’’ and inserting ‘‘Deposit
Insurance Fund’’.
(b) INVESTMENTS PROMOTING PUBLIC WELFARE; LIMITATIONS
ON AGGREGATE INVESTMENTS.—The 23d undesignated paragraph
of section 9 of the Federal Reserve Act (12 U.S.C. 338a) is amended
in the 4th sentence, by striking ‘‘affected deposit insurance fund’’
and inserting ‘‘Deposit Insurance Fund’’.
(c) ADVANCES TO CRITICALLY UNDERCAPITALIZED DEPOSITORY
INSTITUTIONS.—Section 10B(b)(3)(A)(ii) of the Federal Reserve Act
(12 U.S.C. 347b(b)(3)(A)(ii)) is amended by striking ‘‘any deposit
insurance fund in’’ and inserting ‘‘the Deposit Insurance Fund of’’.
(d) AMENDMENTS TO THE FEDERAL HOME LOAN BANK ACT.—
The Federal Home Loan Bank Act (12 U.S.C. 1421 et seq.) is
amended—
(1) in section 11(k) (12 U.S.C. 1431(k))—
(A) in the subsection heading, by striking ‘‘SAIF’’ and
inserting ‘‘THE DEPOSIT INSURANCE FUND’’; and
(B) by striking ‘‘Savings Association Insurance Fund’’
each place such term appears and inserting ‘‘Deposit Insur-
ance Fund’’;
(2) in section 21 (12 U.S.C. 1441)—
(A) in subsection (f)(2), by striking ‘‘, except that’’ and
all that follows through the end of the paragraph and
inserting a period; and
(B) in subsection (k), by striking paragraph (4);
(3) in section 21A(b)(4)(B) (12 U.S.C. 1441a(b)(4)(B)), by
striking ‘‘affected deposit insurance fund’’ and inserting
‘‘Deposit Insurance Fund’’;
(4) in section 21A(b)(6)(B) (12 U.S.C. 1441a(b)(6)(B))—
(A) in the subparagraph heading, by striking ‘‘SAIF-
INSURED BANKS’’ and inserting ‘‘CHARTER CONVERSIONS’’;
and
(B) by striking ‘‘Savings Association Insurance Fund
member’’ and inserting ‘‘savings association’’;
(5) 
in 
section 
21A(b)(10)(A)(iv)(II) 
(12 
U.S.C.
1441a(b)(10)(A)(iv)(II)), by striking ‘‘Savings Association Insur-
ance Fund’’ and inserting ‘‘Deposit Insurance Fund’’;
12 USC 1813
note.
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(6) in section 21A(n)(6)(E)(iv) (12 U.S.C. 1441(n)(6)(E)(iv)),
by striking ‘‘Federal deposit insurance funds’’ and inserting
‘‘the Deposit Insurance Fund’’;
(7) in section 21B(e) (12 U.S.C. 1441b(e))—
(A) in paragraph (5), by inserting ‘‘as of the date of
funding’’ after ‘‘Savings Association Insurance Fund mem-
bers’’ each place that term appears; and
(B) by striking paragraphs (7) and (8); and
(8) in section 21B(k) (12 U.S.C. 1441b(k))—
(A) by inserting before the colon ‘‘, the following defini-
tions shall apply’’;
(B) by striking paragraph (8); and
(C) by redesignating paragraphs (9) and (10) as para-
graphs (8) and (9), respectively.
(e) AMENDMENTS TO THE HOME OWNERS’ LOAN ACT.—The Home
Owners’ Loan Act (12 U.S.C. 1461 et seq.) is amended—
(1) in section 5 (12 U.S.C. 1464)—
(A) in subsection (c)(5)(A), by striking ‘‘that is a
member of the Bank Insurance Fund’’;
(B) in subsection (c)(6), by striking ‘‘As used in this
subsection—’’ and inserting ‘‘For purposes of this sub-
section, the following definitions shall apply:’’;
(C) in subsection (o)(1), by striking ‘‘that is a Bank
Insurance Fund member’’;
(D) in subsection (o)(2)(A), by striking ‘‘a Bank Insur-
ance Fund member until such time as it changes its status
to a Savings Association Insurance Fund member’’ and
inserting ‘‘insured by the Deposit Insurance Fund’’;
(E) in subsection (t)(5)(D)(iii)(II), by striking ‘‘affected
deposit insurance fund’’ and inserting ‘‘Deposit Insurance
Fund’’;
(F) in subsection (t)(7)(C)(i)(I), by striking ‘‘affected
deposit insurance fund’’ and inserting ‘‘Deposit Insurance
Fund’’; and
(G) in subsection (v)(2)(A)(i), by striking ‘‘the Savings
Association Insurance Fund’’ and inserting ‘‘or the Deposit
Insurance Fund’’; and
(2) in section 10 (12 U.S.C. 1467a)—
(A) in subsection (c)(6)(D), by striking ‘‘this title’’ and
inserting ‘‘this Act’’;
(B) in subsection (e)(1)(B), by striking ‘‘Savings Associa-
tion Insurance Fund or Bank Insurance Fund’’ and
inserting ‘‘Deposit Insurance Fund’’;
(C) in subsection (e)(2), by striking ‘‘Savings Associa-
tion Insurance Fund or the Bank Insurance Fund’’ and
inserting ‘‘Deposit Insurance Fund’’;
(D) in subsection (e)(4)(B), by striking ‘‘subsection (1)’’
and inserting ‘‘subsection (l)’’;
(E) in subsection (g)(3)(A), by striking ‘‘(5) of this sec-
tion’’ and inserting ‘‘(5) of this subsection’’;
(F) in subsection (i), by redesignating paragraph (5)
as paragraph (4);
(G) in subsection (m)(3), by striking subparagraph (E)
and by redesignating subparagraphs (F), (G), and (H) as
subparagraphs (E), (F), and (G), respectively;
(H) in subsection (m)(7)(A), by striking ‘‘during period’’
and inserting ‘‘during the period’’; and
12 USC 1441a.
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PUBLIC LAW 109–173—FEB. 15, 2006
(I) in subsection (o)(3)(D), by striking ‘‘sections 5(s)
and (t) of this Act’’ and inserting ‘‘subsections (s) and
(t) of section 5’’.
(f) AMENDMENTS
TO
THE
NATIONAL
HOUSING
ACT.—The
National Housing Act (12 U.S.C. 1701 et seq.) is amended—
(1) in section 317(b)(1)(B) (12 U.S.C. 1723i(b)(1)(B)), by
striking ‘‘Bank Insurance Fund for banks or through the
Savings Association Insurance Fund for savings associations’’
and inserting ‘‘Deposit Insurance Fund’’; and
(2) 
in 
section 
536(b)(1)(B)(ii) 
(12 
U.S.C. 
1735f–
14(b)(1)(B)(ii)), by striking ‘‘Bank Insurance Fund for banks
and through the Savings Association Insurance Fund for
savings associations’’ and inserting ‘‘Deposit Insurance Fund’’.
(g) AMENDMENTS
TO
THE FINANCIAL INSTITUTIONS REFORM,
RECOVERY, 
AND
ENFORCEMENT
ACT
OF
1989.—The Financial
Institutions Reform, Recovery, and Enforcement Act of 1989 (12
U.S.C. 1811 note) is amended—
(1) in section 951(b)(3)(B) (12 U.S.C. 1833a(b)(3)(B)), by
inserting ‘‘and after the merger of such funds, the Deposit
Insurance Fund,’’ after ‘‘the Savings Association Insurance
Fund,’’; and
(2) in section 1112(c)(1)(B) (12 U.S.C. 3341(c)(1)(B)), by
striking ‘‘Bank Insurance Fund, the Savings Association Insur-
ance Fund,’’ and inserting ‘‘Deposit Insurance Fund’’.
(h) AMENDMENT
TO
THE BANK HOLDING COMPANY ACT
OF
1956.—The Bank Holding Company Act of 1956 (12 U.S.C. 1841
et seq.) is amended—
(1) in section 2(j)(2) (12 U.S.C. 1841(j)(2)), by striking
‘‘Savings Association Insurance Fund’’ and inserting ‘‘Deposit
Insurance Fund’’; and
(2) in section 3(d)(1)(D)(iii) (12 U.S.C. 1842(d)(1)(D)(iii)),
by striking ‘‘appropriate deposit insurance fund’’ and inserting
‘‘Deposit Insurance Fund’’.
(i) AMENDMENTS TO THE GRAMM-LEACH-BLILEY ACT.—Section
114 of the Gramm-Leach-Bliley Act (12 U.S.C. 1828a) is amended
by striking ‘‘any Federal deposit insurance fund’’ in subsection
(a)(1)(B), paragraphs (2)(B) and (4)(B) of subsection (b), and sub-
section (c)(1)(B), each place that term appears and inserting ‘‘the
Deposit Insurance Fund’’.
(j) EFFECTIVE DATE.—This section and the amendments made
by this section shall take effect on the day of the merger of the
12 USC 24 note.
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119 STAT. 3619
PUBLIC LAW 109–173—FEB. 15, 2006
LEGISLATIVE HISTORY—H.R. 4636:
CONGRESSIONAL RECORD, Vol. 151 (2005):
Dec. 18, considered and passed House.
Dec. 21, considered and passed Senate.
Bank Insurance Fund and the Savings Association Insurance Fund
pursuant to the Federal Deposit Insurance Reform Act of 2005.
Approved February 15, 2006.
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07:20 Nov 03, 2006
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CONCURRENT RESOLUTIONS
FIRST SESSION, ONE HUNDRED NINTH CONGRESS
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