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In this task, you are given text for US Congressional and California state bills, your task is to generate a summary for this bill.

FUND.

(a) Establishment.--There is established the Systemic Resolution
Fund, which the Corporation shall--
(1) maintain and administer;
(2) use to facilitate the resolution of a covered financial
company, as provided in subsection (b), or take such other
actions as are authorized for the Corporation; and
(3) invest in accordance with section 13(a) of the Federal
Deposit Insurance Act.
(b) Uses of the Fund.--The Fund shall be available to the
Corporation for use with respect to a covered financial company--
(1) to cover the costs incurred by the Corporation,
including as receiver, in exercising its rights, authorities,
and powers and fulfilling its obligations and responsibilities;
(2) to repay initial capitalization appropriations under
this section; and
(3) to cover the costs of systemic stabilization purposes.
(c) Prohibitions.--Notwithstanding any other provision of law
amounts in the Fund may not be used to convert or maintain a financial
company that is insolvent or in receivership, except to the extent
necessary to insure systemic stabilization in the resolution of such
financial company.
(d) Deposits to the Fund.--All amounts assessed against a financial
company under this section shall be deposited into the Fund.

SEC. 4. ASSESSMENTS.

(a) Minimum Size of the Fund.--The Corporation shall, by rule,
establish the minimum size of the Fund, consistent with subsections (a)
and (b), but amounts maintained in the Fund shall in no case exceed an
amount equal to 1 percent of the gross domestic product of the United
States.
(b) Assessments To Maintain Fund.--The Corporation shall impose
assessments on financial companies in such amounts and in such manner,
and subject to such terms and conditions as the Corporation, by
regulation, determines are necessary for the amount in the Fund to be
maintained at not less than the minimum size established pursuant to
subsection (a).
(c) Assessments To Replenish the Fund.--If the Fund falls below the
minimum size established pursuant to subsection (a) the Corporation
shall impose assessments on financial companies, in such amounts and
such manner, and subject to consideration of the factors set forth in
subsection (e), as are necessary for the Fund to meet or exceed the
minimum size established pursuant to subsection (a) before the end of
the 8-year period beginning on the date on which the Fund first fell
below the minimum amount (or such longer period as the Corporation may
determine to be necessary due to extraordinary circumstances).
(d) Minimum Assessment Threshold.--The Corporation may not impose
an assessment under this subsection on any financial company that the
Corporation determines does not pose a systemic risk to the United
States financial system.
(e) Reallocation Required.--The Corporation shall, by rule,
establish a mechanism whereby the systemic risk regulator reallocates
the assessments for the fund annually among all the systemically risky
financial companies, to include the authority to refund contributions,
as necessary or appropriate in the determination of the Corporation.
(f) Factors for Consideration.--In taking actions and making
determinations under this subsection, the Corporation shall seek to
prevent sharp swings in the assessment rates for financial companies,
and shall take into account--
(1) the actual or expected risk of losses to the Fund;
(2) economic conditions generally affecting financial
companies, so as to allow assessments and the Fund to increase
during more favorable conditions and to decrease during less
favorable economic conditions;
(3) any assessments imposed on a financial company or a
subsidiary or affiliate of a financial company that is--
(A) an insured depository institution, subject to
assessments under section 7 or 13(c)(4)(G) of the
Federal Deposit Insurance Act;
(B) a member of the Securities Investor Protection
Corporation, subject to assessments under section 4 of
the Securities Investor Protection Act of 1970; or
(C) an insurance company, subject to assessments
pursuant to applicable State law to cover (or reimburse
payments made to cover) the costs of the
rehabilitation, liquidation, or other State insolvency
proceeding with respect to one or more insurance
companies;
(4) the risks presented by the financial company to the
financial system and the extent to which the financial company
has, or likely would, benefit from the resolution of a
financial company;
(5) any off-balance-sheet activities of the financial
company; and
(6) such other factors as the Corporation may determine to
be appropriate.
(g) Permissible Distinctions for Assessments.--In establishing the
assessment system for the Fund, the Corporation, by regulation, may
differentiate among financial companies based on size, complexity of
operations or organization, relationships, transactions, direct or
indirect activities, and any other factors that the Corporation may
deem appropriate.
(h) Initial Capitalization.--There are authorized to be
appropriated to the Secretary, for fiscal years 2010 and 2011, such
sums as may be necessary to initially capitalize the Fund in accordance
with this section.
Output:
Ending Taxpayer Bailouts by Making Wall Street Pay Act of 2010 - Establishes the Systemic Resolution Fund, to be administered by the Federal Deposit Insurance Corporation (FDIC), to: (1) cover the costs of the FDIC, including as receiver, in exercising its rights, authorities, and powers, and in fulfilling its obligations and responsibilities; (2) repay initial capitalization appropriations; and (3) cover the costs of systemic stabilization purposes.

Prohibits the use of amounts in the Fund to convert or maintain a financial company that is insolvent or in receivership, except to the extent necessary to insure systemic stabilization in the company's resolution.

Requires all amounts assessed against a financial company under this Act to be deposited into the Fund.

Directs the FDIC to: (1) impose assessments on financial companies for Fund maintenance and, if need be, replenishment; and (2) establish a mechanism whereby the systemic risk regulator reallocates annually the assessments for the Fund among all the systemically risky financial companies.

Prohibits the FDIC from imposing an assessment on any financial company which it determines does not pose a systemic risk to the U.S. financial system.