Page:United States Statutes at Large Volume 110 Part 4.djvu/637

 PUBLIC LAW 104-208—SEPT. 30, 1996 110 STAT. 3009 -474 (1) IN GENERAL.— The Secretary, in consultation with the Board, the Corporation, the Comptroller of the Currency, and the Administration, shall conduct a study and evaluation of— (A) the oversight and supervisory practices of the Administration concerning the Fund, including the treatment of amounts deposited in the Fund pursuant to section 202(c) of the Federal Credit Union Act, including analysis of— (i) whether those amounts should be— (I) refundable; or (II) treated as expenses; and (ii) the use of those amounts in determining equity capital ratios; (B) the potential for, and potential effects of, administration of the Fund by an entity other than the Administration; (C) the 10 largest corporate credit unions in the United States, conducted in cooperation with appropriate employ- ees of other Federal agencies with expertise in the examination of federally insured financial institutions, including— (i) the investment practices of those credit unions; and (ii) the financial stability, financial operations, and financial controls of those credit unions; (D) the regulations of the Administration; and (E) the supervision of corporate credit unions by the Administration. (c) REPORT. —Not later than 12 months after the date of enactment of this Act, the Secretary shall submit to the appropriate committees of the Congress, a report that includes the results of the study and evaluation conducted under subsection (b), together with any recommendations that the Secretary considers to be appropriate. SEC. 2607. REPORT ON THE RECONCILIATION OF DIFFERENCES BETWEEN REGULATORY ACCOUNTING PRINCIPLES AND GENERALLY ACCEPTED ACCOUNTING PRINCIPLES. Not later than 180 days after the date of enactment of this Act, each appropriate Federal banking agency shall submit to the Committee on Banking and Financial Services of the House of Representatives and the Committee on Banking, Housing, and Urban Affairs of the Senate, a report describing both the actions that have been taken by the agency and the actions that will be taken by the agency to eliminate or conform inconsistent or duplicative accounting and reporting requirements applicable to reports or statements filed with any such agency by insured depository institutions, as required by section 121 of the Federal Deposit Insurance Corporation Improvement Act of 1991. SEC. 2608. STATE-BY-STATE AND METROPOLITAN AREA-BY-METRO- POUTAN AREA STUDY OF BANK FEES. Section 1002(b)(2)(A) of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (12 U.S.C. 1811 note) is amended to read as follows: "(A) a description of any discernible trend, in the Nation as a whole, in each of the 50 States, and in each consolidated metropolitan statistical area or primary metropolitan statistical area (as defined by the Director of the

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