Page:United States Statutes at Large Volume 110 Part 4.djvu/660

 110 STAT. 3009-497 PUBLIC LAW 104-208—SEPT. 30, 1996 1996, and ending on December 31, 1998, the assessment rate for a Savings Association Insurance Fund member may not be less than the assessment rate for a Bank Insurance Fund member that poses a comparable risk to the deposit insurance fund.". SEC. 2708. ASSESSMENTS AUTHORIZED ONLY IF NEEDED TO MAINTAIN THE RESERVE RATIO OF A DEPOSIT INSURANCE FUND. (a) IN GENERAL.—Section 7(b)(2)(A)(i) of the Federal Deposit Insurance Act (12 U.S.C. 1817(b)(2)(A)(i)) is amended in the matter preceding subclause (I) by inserting "when necessary, and only to the extent necessary" after "insured depository institutions". (b) LIMITATION ON ASSESSMENT. — Section 7(b)(2)(A)(iii) of the Federal Deposit Insurance Act (12 U.S.C. 1817(b)(2)(A)(iii)) is amended to read as follows: "(iii) LIMITATION ON ASSESSMENT. —Except as provided in clause (v), the Board of Directors shall not set semiannual assessments with respect to a deposit insurance fund in excess of the amount needed— "(I) to maintain the reserve ratio of the fund at the designated reserve ratio; or "(II) if the reserve ratio is less than the designated reserve ratio, to increase the reserve ratio to the designated reserve ratio.". (c) EXCEPTION TO LIMITATION ON ASSESSMENTS.— Section 7(b)(2)(A) of the Federal Deposit Insurance Act (12 U.S.C. 1817(b)(2)(A)) is amended by adding at the end the following new clause: "(v) EXCEPTION TO LIMITATION ON ASSESSMENTS.— The Board of Directors may set semiannual assessments in excess of the amount permitted under clauses (i) and (iii) with respect to insured depository institutions that exhibit financial, operational, or compliance weaknesses ranging from moderately severe to unsatisfactory, or are not well capitalized, as that term is defined in section 38.". SEC. 2709. TREASURY STUDY OF COMMON DEPOSITORY INSTITUTION CHARTER. (a) STUDY REQUIRED. —The Secretary of the Treasury shall conduct a study of all issues which the Secretary considers to be relevant with respect to the development of a common charter for all insured depository institutions (as defined in section 3 of the Federal Deposit Insurance Act) and the abolition of separate and distinct charters between banks and savings associations. (b) REPORT TO THE CONGRESS.— (1) IN GENERAL.— The Secretary of the Treasury shall submit a report to the Congress on or before March 31, 1997, containing the findings and conclusions of the Secretary in connection with the study conducted pursuant to subsection (a). (2) DETAILED ANALYSIS AND RECOMMENDATIONS.— The report under paragraph (1) shall include— (A) a detailed analysis of each issue the Secretary considered relevant to the subject of the study;

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