Page:United States Statutes at Large Volume 108 Part 3.djvu/610

 108 STAT. 2362 PUBLIC LAW 103-328—SEPT. 29, 1994 ferences on the basis of size of the institution and engagement in multistate activity; and "(B) a description of the correlation, if any, among the following factors: "(i) An increase or decrease in the amount of any deposit insurance premium assessed by the Feder^ Deposit Insurance Corporation against insured depository institutions. "(ii) An increase or decrease in the amount of the fees imposed by such institutions for providing retail banking services. "(iii) A decrease in the availability of such services. "(3) SUBMISSION TO CONGRESS.— The Board of Governors of the Federal Reserve System shall submit an annual report to the Congress not later than September 1, 1995, and not later than June 1 of each subsequent year.". 12 USC 1811 (b) SUNSET.— The requirements of subsection (a) shall not apply note. after the end of the 7-year period beginning on the date of enactment of this Act. 12 USC 1835a. SEC. 109. PROfflBrriON AGAINST DEPOSIT PRODUCTION OFFICES. (a) REGULATIONS. — The appropriate Federal banking agencies shall prescribe uniform regulations effective June 1, 1997, which prohibit any out-of-State bank from using any authority to engage in interstate branching pursuant to this title, or any amendment made by this title to any other provision of law, primarily for the purpose of deposit production. (b) GUIDELINES FOR MEETING CREDIT NEEDS.— Regulations issued under subsection (a) shall include guidelines to ensure that interstate branches operated by an out-of-State bank in a host State are reasonably helping to meet the credit needs of the communities which the branches serve. (c) LIMITATION ON OUT-OF-STATE LOANS.— (1) LIMITATION.— Regulations issued under subsection (a) shall require that, beginning no earlier than 1 year after establishment or acquisition of an interstate branch or branches in a host State by an out-of-State bank, if the appropriate Federal banking agency for the out-of-State bank determines that the bank's level of lending in the host State relative to the deposits from the host State (as reasonably determinable from available information including the agency's sampling of the bank's loan files during an examination or such data as is otherwise available) is less than half the average of total loans in the host State relative to total deposits from the host State (as determinable from relevant sources) for all banks the home State of which is such State— (A) the appropriate Federal banking agency for the out-of-State bank shall review the loan portfolio of the bank and determine whether the bank is reasonably helping to meet the credit needs of the communities served by the bank in the host State; and (B) if the agency determines that the out-of-State bank is not reasonably helping to meet those needs— (i) the agency may order that an interstate branch or branches of such bank in the host State be closed unless the bank provides reasonable assurances to the satisfaction of the appropriate Federal banking agency

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