Page:United States Statutes at Large Volume 122.djvu/2852

 12 2 STA T . 2 8 2 9PUBLIC LA W 11 0– 289 —J UL Y3 0, 2008 (R)inpar a g rap h ( 1 1) ,by in se r t ing ‘ ‘ o ra F e d era l sa v ings asso c iation, as the case m ay be, ’ ’a f ter ‘‘national ban k ’’ each place s u ch term appears ( S ) in paragraph (1 2 ) — (i) by inserting ‘‘or the D irector of the O ffice of T hrift Supervision, as appropriate,’’ after ‘‘ C omptroller of the Currency’’ each place such term appears; and (ii) by inserting ‘‘or Federal savings associations, as appropriate’’ after ‘‘national banks’’; and (T) in paragraph (1 3 ), by striking ‘‘single bank’’ and inserting ‘‘single depository institution’’ . (b) O THER C ONF OR MI N GA MEN D MENT S .— (1) FEDER AL DE P OSIT INS U RAN C E ACT.—The Federal Deposit I nsurance Act (12 U .S.C. 1 8 11etse q .) is amended— (A) in section 3 (12 U.S.C. 1813), by striking subsection (i) and inserting the follo w ing

‘‘(i) N E W DEPOSITOR Y INSTITUTION AND B RIDGE DEPOSITORY INSTITUTION DEFINED.— ‘‘(1) NEW DEPOSITORY INSTITUTION.—The term ‘new deposi - tory institution’ means a new national bank or Federal savings association, other than a bridge depository institution, orga- ni z ed by the Corporation in accordance with section 11(m). ‘‘(2) BRIDGE DEPOSITORY INSTITUTION.—The term ‘bridge depository institution’ means a new national bank or Federal savings association organized by the Corporation in accordance with section 11(n).’’; (B) in section 1 0 (d)( 5 )(B) (12 U.S.C. 1820(d)(5)(B)), by striking ‘‘bridge bank’’ and inserting ‘‘bridge depository institution’’; (C) in section 12 (12 U.S.C. 1822), by striking ‘‘new bank’’ each place such term appears and inserting ‘‘new depository institution’’;and (D) in section 38( j )(2) (12 U.S.C. 1831o(j)(2)), by striking ‘‘bridge bank’’ and inserting ‘‘bridge depository institution’’. (2) FEDERAL CREDIT UNION ACT.—Section 20 7 (c)(10)(C)(i) of the Federal Credit Union Act (12 U.S.C. 1787(c)(10)(C)(i)) is amended by striking ‘‘bridge bank’’ and inserting ‘‘bridge depository institution’’. (3) TITLE 1 1, UNITED STATES CODE.—Section 783 of title 11, United States Code, is amended by striking ‘‘bridge bank’’ and inserting ‘‘bridge depository institution’’. ( 4 ) TITLE 26, UNITED STATES CODE.—Section 414(l)(2)( G ) of the Internal Revenue Code of 1 9 8 6, is amended by striking ‘‘bridge bank’’ and inserting ‘‘bridge depository institution’’. (c) REPEAL OF DEPOSIT L IMITATION.—Section 11(n)(1)(B)(i) of the Federal Deposit Insurance Act (12 U.S.C. 1821(n)(1)(B)(i)) is amended by striking ‘‘, e x cept that’’ and all that follows through ‘‘another insured depository institution’’. (d) FEDERAL RESER V E BAN K LENDING TO BRIDGE DEPOSITORY INSTITUTIONS.—Section 11(n)(5) of the Federal Deposit Insurance Act (12 U.S.C. 1821(n)(5)) is amended by adding at the end the following new subparagraph: ‘‘(D) CAPITAL LEVELS.—A bridge depository institution shall not be considered an undercapitalized depository institution or a critically undercapitalized depository institution for purposes of section 10B(b) of the Federal Reserve Act.’’.

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