Page:United States Statutes at Large Volume 119.djvu/188

 119 STAT. 170

PUBLIC LAW 109–8—APR. 20, 2005

‘‘(1) IN GENERAL.—The Comptroller of the Currency in the case of an uninsured national bank or uninsured Federal branch or agency and the Board of Governors of the Federal Reserve System in the case of a corporation chartered under section 25A of the Federal Reserve Act, or an uninsured State member bank that operates, or operates as, a multilateral clearing organization pursuant to section 409 of this Act, in consultation with the Federal Deposit Insurance Corporation, may each promulgate regulations solely to implement this section. ‘‘(2) SPECIFIC REQUIREMENT.—In promulgating regulations, limited solely to implementing paragraphs (8), (9), (10), and (11) of section 11(e) of the Federal Deposit Insurance Act, the Comptroller of the Currency and the Board of Governors of the Federal Reserve System each shall ensure that the regulations generally are consistent with the regulations and policies of the Federal Deposit Insurance Corporation adopted pursuant to the Federal Deposit Insurance Act. ‘‘(d) DEFINITIONS.—For purposes of this section, the terms ‘Federal branch’, ‘Federal agency’, and ‘foreign bank’ have the same meanings as in section 1(b) of the International Banking Act of 1978.’’. SEC. 907. BANKRUPTCY LAW AMENDMENTS.

(a) DEFINITIONS OF FORWARD CONTRACT, REPURCHASE AGREEMENT, SECURITIES CLEARING AGENCY, SWAP AGREEMENT, COMMODITY CONTRACT, AND SECURITIES CONTRACT.—Title 11, United States Code, is amended— (1) in section 101— (A) in paragraph (25)— (i) by striking ‘‘means a contract’’ and inserting ‘‘means— ‘‘(A) a contract’’; (ii) by striking ‘‘, or any combination thereof or option thereon;’’ and inserting ‘‘, or any other similar agreement;’’; and (iii) by adding at the end the following: ‘‘(B) any combination of agreements or transactions referred to in subparagraphs (A) and (C); ‘‘(C) any option to enter into an agreement or transaction referred to in subparagraph (A) or (B); ‘‘(D) a master agreement that provides for an agreement or transaction referred to in subparagraph (A), (B), or (C), together with all supplements to any such master agreement, without regard to whether such master agreement provides for an agreement or transaction that is not a forward contract under this paragraph, except that such master agreement shall be considered to be a forward contract under this paragraph only with respect to each agreement or transaction under such master agreement that is referred to in subparagraph (A), (B), or (C); or ‘‘(E) any security agreement or arrangement, or other credit enhancement related to any agreement or transaction referred to in subparagraph (A), (B), (C), or (D), including any guarantee or reimbursement obligation by or to a forward contract merchant or financial participant in connection with any agreement or transaction referred to in any such subparagraph, but not to exceed the damages

VerDate 14-DEC-2004

08:19 Oct 26, 2006

Jkt 039194

PO 00001

Frm 00168

Fmt 6580

Sfmt 6581

E:\PUBLAW\PUBL001.119

APPS06

PsN: PUBL001

�