Page:United States Statutes at Large Volume 101 Part 1.djvu/656

 101 STAT. 626



PUBLIC LAW 100-86—AUG. 10, 1987

the Federal Deposit Insurance Act (12 U.S.C. 1823(f)(6)) is amended— (A) in subparagraph (B), by striking out clause (ii) and all that follows through clause (iv) and inserting in lieu thereof the following new clauses: "(ii) Second, between depository institutions of the same type— "(I) in different States which by statute specifically au« thorize such acquisitions; or "(II) in the absence of such statutes, in different States which are contiguous, "(iii) Third, between depository institutions of the same type in different States other than the States described in clause (ii). "(iv) Fourth, between depository institutions of different types in the same State. "(v) Fifth, between depository institutions of different types— "(I) in different States which by statute specifically au;v thorize such acquisitions; or "(II) in the absence of such statutes, in different States j, which are contiguous. "(vi) Sixth, between depository institutions of different types in different States other than the States described in clause (v).";and (B) by amending subparagraph (C) to read as follows: "(C) MINORITY BANK PRIORITY.—In the case of a minority-controlled bank, the Corporation shall seek an offer from other minority-controlled banks before proceeding with the bidding priorities set forth in subparagraph (B).". (3) REAFFIRMATION O F THE RULE THAT N O ASSISTANCE I S A U THORIZED FOR NONBANK SUBSIDIARIES O F HOLDING COMPANIES.—

Section 13(f) of the Federal Deposit Insurance Act (12 U.S.C. 1823(f)) is amended by adding at the end thereof the following new paragraph: "(9) No ASSISTANCE AUTHORIZED FOR NONBANK SUBSIDIARIES OF HOLDING COMPANIES.—

"(A) IN GENERAL.—The Corporation shall not provide any assistance to a subsidiary of a holding company which is not an insured bank in connection with any acquisition under this subsection. "(B) INTERMEDIATE HOLDING COMPANY PERMITTED.—This paragraph does not prohibit an intermediate holding company from being a conduit for assistance ultimately intended for an insured bank.". (4) REPORTS REQUIRED.—Section 13(f) of the Federal Deposit

Insurance Act (12 U.S.C. 1823(f)) is amended by adding after paragraph (9) (as added by paragraph (3) of this subsection) the following new paragraph: "(10) ANNUAL REPORT.—

"(A) REQUIRED.—In its annual report to Congress the Corporation shall include a report on the acquisitions under this subsection during the preceding year. "(B) CONTENTS.—The report required under subparagraph (A) shall contain the following information: "(i) The number of acquisitions under this subsection. "(ii) A brief description of each such acquisition and the .^~ circumstances under which such acquisition occurred.".
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