Page:United States Statutes at Large Volume 110 Part 4.djvu/568

 110 STAT. 3009 -405 PUBLIC LAW 104-208—SEPT. 30, 1996 SEC. 2204. ELIMINATION OF THE PER BRANCH CAPITAL REQUIREMENT FOR NATIONAL BANKS AND STATE MEMBER BANKS. Section 5155(h) of the Revised Statutes of the United States (12 U.S.C. 36(h)) is amended to read as follows: " (h) [Repealed]". SEC. 2205. ELIMINATION OF BRANCH APPLICATION REQUIREMENTS FOR AUTOMATIC TELLER MACHINES. (a) "BRANCH" UNDER NATIONAL BANK ACT.— Section 5155(j) of the Revised Statutes of the United States (12 U.S.C. 36(j)) is amended by adding at the end the following: "The term 'branch', as used in this section, does not include an automated teller machine or a remote service unit.". (b) "DOMESTIC BRANCH" UNDER THE FEDERAL DEPOSIT INSUR- ANCE ACT. — Section 3(o) of the Federal Deposit Insurance Act (12 U.S.C. 1813(o)) is amended by striking "lent; and the" and inserting "lent. The term 'domestic branch' does not include an automated teller machine or a remote service unit. The". SEC. 2206. ELIMINATION OF REQUIREMENT FOR APPROVAL OF INVEST- MENTS IN BANK PREMISES FOR WELL CAPITALIZED AND WELL MANAGED BANKS. Section 24A of the Federal Reserve Act (12 U.S.C. 37Id) is amended to read as follows: "SEC. 24A. INVESTMENT IN BANK PREMISES OR STOCK OF CORPORA- TION HOLDING PREMISES. "(a) CONDITIONS OF INVESTMENT.—N O national bank or State member bank shall invest in bank premises, or in the stock, bonds, debentures, or other such obligations of any corporation holding the premises of such bank, or make loans to or upon the security of any such corporation— "(1) unless the bank receives the prior approval of the, Comptroller of the Currency (with respect to a national bank) or the Board (with respect to a State member bank); "(2) unless the aggregate of all such investments and loans, together with the amount of any indebtedness incurred by any such corporation that is an affiliate of the bank, is less than or equal to the amount of the capital stock of such bank; or "(3) unless— "(A) the aggregate of all such investments and loans, together with the amount of any indebtedness incurred by any such corporation that is an affiliate of the bank, is less than or equal to 150 percent of the capital and surplus of the bank; and "(B) the bank— "(i) has a CAMEL composite rating of 1 or 2 under the Uniform Financial Institutions Rating System (or an equivalent rating under a comparable rating system) as of the most recent examination of such bank; "(ii) is well capitalized and will continue to be well capitalized after the investment or loan; and "(iii) provides notification to the Comptroller of the Currency (with respect to a national bank) or to the Board (with respect to a State member bank) not later than 30 days after making the investment or loan.

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