Page:United States Statutes at Large Volume 112 Part 1.djvu/59

 PUBLIC LAW 105-164—MAR. 20, 1998 112 STAT. $3 (c) SEMINARS AND MODEL APPROACHES TO YEAR 2000 COMPUTER PROBLEM.— (1) SEMINARS.— (A) IN GENERAL. — Each Federal banking agency and the National Credit Union Administration Board shall offer seminars to all depository institutions and insured credit unions under the jurisdiction of such agency on the implication of the Year 2000 computer problem for— (i) the safe and sound operations of such depository institutions and credit unions; and (ii) transactions with other financial institutions, including Federal reserve banks and Federal home loan banks.,. (B) CONTENT AND SCHEDULE. —The content and schedule of seminars offered pursuant to subparagraph (A) shall be determined by each Federal banking agency and the National Credit Union Administration Board taking into account the resources and examination priorities of such agency. (2) MODEL APPROACHES.— (A) IN GENERAL.— Each Federal banking agency and the National Credit Union Administration Board shall make available to each depository institution and insured credit union under the jurisdiction of such agency model approaches to common Year 2000 computer problems, such as model approaches with regard to project management, vendor contracts, testing regimes, and business continuity planning. (B) VARIETY OF APPROACHES.— In developing model approaches to the Year 2000 computer problem pursuant to subparagraph (A), each Federal banking agency and the National Credit Union Administration Board shall take into account the need to develop a variety of approaches to correspond to the variety of depository institutions or credit unions within the jurisdiction of the agency. (3) COOPERATION.—In carrying out this section, the Federal banking agencies and the National Credit Union Administration Board may cooperate and coordinate their activities with each other, the Financial Institutions Examination Council, and appropriate organizations representing depository institutions and credit unions. SEC. 3. REGULATION AND EXAMINATION OF SERVICE PROVIDERS. (a) REGULATION AND EXAMINATION OF SAVINGS ASSOCIATION SERVICE COMPANIES. — (1) AMENDMENT TO HOME OWNERS' LOAN ACT. — Section 5(d) of the Home Owners' Loan Act (12 U.S.C. 1464(d)) is amended by adding at the end the following: "(7) REGULATION AND EXAMINATION OF SAVINGS ASSOCIATION SERVICE COMPANIES, SUBSIDIARIES, AND SERVICE PROVIDERS.— "(A) GENERAL EXAMINATION AND REGULATORY AUTHORITY.—A service company or subsidiary that is owned in whole or in part by a savings association shall be subject to examination and regulation by the Director to the same extent as that savings association.

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