Page:United States Statutes at Large Volume 114 Part 5.djvu/1022

 114 STAT. 3036 PUBLIC LAW 106-569—DEC. 27, 2000 (c) REVIEW OF CALL REPORT SCHEDULE.— Each Federal banking agency shall— (1) review the information required by schedules supplementing the core information referred to in subsection (b); and (2) eliminate requirements that are not warranted for reasons of safety and soundness or other public purposes. (d) DEFINITION. —In this section, the term "Federal banking agency* has the same meaning as in section 3 of the Federal Deposit Insurance Act (12 U.S.C. 1813). Subtitle C—Streamlining Agency Actions SEC. 1221. ELIMINATION OF DUPUCATIVE DISCLOSURE OF FAIR MARKET VALUE OF ASSETS AND LIABILITIES. Section 37(a)(3) of the Federal Deposit Insurance Act (12 U.S.C. 1831n(a)(3)) is amended by striking subparagraph (D). SEC. 1222. PAYMENT OF INTEREST IN RECEIVERSmPS WITH SURPLUS FUNDS. Section ll(d)(10) of the Federal Deposit Insurance Act (12 U.S.C. 1821(d)(10)) is amended by adding at the end the following new subparagraph: "(C) RULEMAKING AUTHORITY OF CORPORATION. —The Corporation may prescribe such rules, including definitions of terms, as it deems appropriate to establish a single uniform interest rate for or to make payments of post insolvency interest to creditors holding proven claims against the receivership estates of insured Federal or State depository institutions following satisfaction by the receiver of the principal amount of all creditor claims.". SEC. 1223. REPEAL OF REPORTING REQUIREMENT ON DIFFERENCES IN ACCOUNTING STANDARDS. Section 37(c) of the Federal Deposit Insurance Act (12 U.S.C. 1831n(c)) is amended— (1) in paragraph (1), by striking "Each" and all that follows through "a report" and inserting 'The Federal banking agencies shall jointly submit an annual report"; and (2) by inserting "any" before "such agency" each place that term appears. SEC. 1224. EXTENSION OF TIME. Section 6(a)(1) of the Federal Home Loan Bank Act (12 U.S.C. 1426(a)(1)) is amended by striking "1 year" and inserting "18 months". Subtitle D—Technical Corrections SEC. 1231. TECHNICAL CORRECTION RELATING TO DEPOSIT INSUR- ANCE FUNDS. (a) IN GENERAL. —Section 2707 of the Deposit Insurance Funds 12 USC 1817. Act of 1996 (Public Law 104-208; 110 Stat. 3009-496) is amended— (1) by striking "7(b)(2)(C)" and inserting "7(b)(2)(E)"; and (2) by striking ", as redesignated by section 2704(d)(6) of this subtitle".

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