Page:United States Statutes at Large Volume 110 Part 4.djvu/566

 110 STAT. 3009 -403 PUBLIC LAW 104-208—SEPT. 30, 1996 Subtitle B—Streamlining Government Regulation CHAPTER 1—ELIMINATING UNNECESSARY REGULATORY REQUIREMENTS AND PROCEDURES SEC. 2201. ELIMINATION OF REDUNDANT APPROVAL REQUIREMENT FOR OAKAR TRANSACTIONS. (a) IN GENERAL.—Section 5(d)(3) of the Federal Deposit Insurance Act (12 U.S.C. 1815(d)(3)) is amended— (1) in subparagraph (A), by striking "with the prior written approval of and inserting "if the transaction is approved by"; (2) in subparagraph (E)— (A) by striking clauses (i) and (iv); (B) by redesignating clauses (ii) and (iii) as clauses (i) and (ii), respectively; and (C) by adding at the end the following new clause: "(iii) CAPITAL REQUIREMENTS.— A transaction described in this paragraph shall not be approved under section 18(c)(2) unless the acquiring, assuming, or resulting depository institution will meet all applicable capital requirements^ upon consummation of the transaction."; (3) by striking subparagraph (G); and (4) by redesignating subparagraphs (H) through (J) as subparagraphs (G) through (I), respectively. (b) CONFORMING AMENDMENTS.— (1) REVISED STATUTES.— Section 5156A(b)(l) of the Revised Statutes of the United States (12 U.S.C. 215c(b)(l)) is amended by striking "by section 5(d)(3) of the Federal Deposit Insurance Act or any other" and inserting "under any". (2) HOME OWNERS' LOAN ACT. —Section 10(s)(2)(A) of the Home Owners' Loan Act (12 U.S.C. 1467a(s)(2)(A)) is amended by striking "under section 5(d)(3) of the Federal Deposit Insurance Act or any other" and inserting "under any". SEC. 2203. EUMINATION OF DUPUCATIVE REQUIREMENTS IMPOSED UPON BANK HOLDING COMPANIES. (a) EXEMPTION FOR BANK HOLDING COMPANIES.— Section 10 of the Home Owners' Loan Act (12 U.S.C. 1467a) is amended by adding at the end the following new subsection: "(t) EXEMPTION FOR BANK HOLDING COMPANIES. —This section shall not apply to a bank holding company that is subject to the Bank Holding Company Act of 1956, or any company controlled by such bank holding company.". (b) DEFINITION. —Section 10(a)(1)(D) of the Home Owners' Loan Act (12 U.S.C. 1467a(a)(l)(D)) is amended to read as follows: "(D) SAVINGS AND LOAN HOLDING COMPANY. — "(i) IN GENERAL.— Except as provided in clause (ii), the term 'savings and loan holding compan/ means any company that directly or indirectly controls a savings association or that controls any other company that is a savings and loan holding company. "(ii) EXCLUSION. —The term 'savings and loan holding company does not include a bank holding company that is registered under, and subject to, the Bank

�