Page:United States Statutes at Large Volume 110 Part 4.djvu/648

 110 STAT. 3009 -485 PUBLIC LAW 104-208—SEPT. 30, 1996 SEC. 2703. FINANCING CORPORATION FUNDING. (a) IN GENERAL. —Section 21 of the Federal Home Loan Bank Act (12 U.S.C. 1441) is amended— (1) in subsection (D(2)— (A) in the matter immediately preceding subparagraph (A)— (i) by striking "To the extent the amounts available pursuant to paragraph (1) are insufficient to cover the amount of interest payments, issuance costs, and custodial fees," and inserting "In addition to the amounts obtained pursuant to paragraph (1),"; (ii) by striking "Savings Association Insurance Fund member" and inserting "insured depository institution"; and (iii) by striking "members" and inserting "institutions"; and (B) by striking ", except that—" and all that follows through the end of the paragraph and inserting ", except that— "(A) the assessments imposed on insured depository institutions with respect to any BIF-assessable deposit shall be assessed at a rate equal to Vs of the rate of the assessments imposed on insured depository institutions with respect to any SAIF-assessable deposit; and "(B) no limitation under clause (i) or (iii) of section 7(b)(2)(A) of the Federal Deposit Insurance Act shall apply for purposes of this paragraph."; and (2) in subsection (k)— (A) by striking "section—" and inserting "section, the following definitions shall apply:"; (B) by striking paragraph (1); (C) by redesignating paragraphs (2) and (3) as paragraphs (1) and (2), respectively; and (D) by adding at the end the following new paragraphs: "(3) INSURED DEPOSITORY INSTITUTION. —The term 'insured depository institution' has the same meaning as in section 3 of the Federal Deposit Insurance Act "(4) DEPOSIT TERMS.— "(A) BIF-ASSESSABLE DEPOSITS. —The term 'BIF-assess - able deposit' means a deposit that is subject to assessment for purposes of the Bank Insurance Fund under the Federal Deposit Insurance Act (including a deposit that is treated as a deposit insured by the Bank Insurance Fund under section 5(d)(3) of the Federal Deposit Insurance Act). "(B) SAIF-ASSESSABLE DEPOSIT.—The term 'SAIF- assessable deposit' has the meaning given to such term in section 2710 of the Deposit Insurance Funds Act of 1996.". (b) CONFORMING AMENDMENT.— Section 7(b)(2) of the Federal Deposit Insurance Act (12 U.S.C. 1817(b)(2)) is amended by striking subparagraph (D). 12 USC 1441 (c) EFFECTIVE DATE.— note. (1) IN GENERAL.— Subsections (a) and (c) and the amendments made by such subsections shall apply with respect to semiannual periods which begin after December 31, 1996. (2) TERMINATION OF CERTAIN ASSESSMENT RATES.— Subparagraph (A) of section 21(f)(2) of the Federal Home Loan

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