Page:United States Statutes at Large Volume 114 Part 5.djvu/1018

 114 STAT. 3032 PUBLIC LAW 106-569—DEC. 27, 2000 12 USC 635g. Financial Regulatory Relief and Economic Efficiency Act of 2000. 12 USC 1811 note. (4) in section 8, by striking subsections (b) and (d) and redesignating subsections (c) and (e) as subsections (b) and (c), respectively, (b) FEDERAL DEPOSIT INSURANCE CORPORATION. —Section 17 of the Federal Deposit Insurance Act (12 U.S.C. 1827) is amended by striking subsection (h). TITLE XII—FINANCIAL REGULATORY RELIEF SEC. 1200. SHORT TITLE. This title may be cited as the "Financial Regulatory Relief and Economic Efficiency Act of 2000". Subtitle A—Improving Monetary Policy and Financial Institution Management Practices SEC. 1201. REPEAL OF SAVINGS ASSOCIATION LIQUIDITY PROVISION. (a) REPEAL OF LIQUIDITY PROVISION. —Section 6 of the Home Owners' Loan Act (12 U.S.C. 1465) is hereby repealed. (b) CONFORMING AMENDMENTS. — (1) SECTION 5.—Section 5(c)(l)(M) of the Home Owners' Loan Act (12 U.S.C. 1464(c)(l)(M)) is amended to read as follows: "(M) LIQUIDITY INVESTMENTS. —Investments (other than equity investments), identified by the Director, for liquidity purposes, including cash, funds on deposit at a Federal reserve bank or a Federal home loan bank, or bankers' acceptances.". (2) SECTION lo.—Section 10(m)(4)(B)(iii) of the Home Owners' Loan Act (12 U.S.C. 1467a(m)(4)(B)(iii)) is amended by inserting "as in effect on the day before the date of the enactment of the Financial Regulatory Relief and Economic Efficiency Act of 2000," after "Loan Act,". SEC. 1202. NONCONTROLLING INVESTMENTS BY SAVINGS ASSOCIA- TION HOLDING COMPANIES. Section 10(e)(l)(A)(iii) of the Home Owners' Loan Act (12 U.S.C. 1467a(e)(l)(A)(iii)) is amended— (1) by inserting ", except with the prior written approval of the Director," after "or to retain"; and (2) by striking "so acquire or retain" and inserting "acquire or retain, and the Director may not authorize acquisition or retention of,". SEC. 1203. REPEAL OF DEPOSIT BROKER NOTIFICATION AND RECORD- KEEPING REQUIREMENT. Section 29A of the Federal Deposit Insurance Act (12 U.S.C. 183 lf-1) is hereby repealed.

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