Page:United States Statutes at Large Volume 124.djvu/1565

 124 STAT. 1539 PUBLIC LAW 111–203—JULY 21, 2010 SEC. 332. ELIMINATION OF PROCYCLICAL ASSESSMENTS. Section 7(e) of the Federal Deposit Insurance Act is amended— (1) in paragraph (2)— (A) by amending subparagraph (B) to read as follows: ‘‘(B) LIMITATION.—The Board of Directors may, in its sole discretion, suspend or limit the declaration of payment of dividends under subparagraph (A).’’; (B) by amending subparagraph (C) to read as follows: ‘‘(C) NOTICE AND OPPORTUNITY FOR COMMENT.—The Corporation shall prescribe, by regulation, after notice and opportunity for comment, the method for the declaration, calculation, distribution, and payment of dividends under this paragraph’’; and (C) by striking subparagraphs (D) through (G); and (2) in paragraph (4)(A) by striking ‘‘paragraphs (2)(D) and’’ and inserting ‘‘paragraphs (2) and’’. SEC. 333. ENHANCED ACCESS TO INFORMATION FOR DEPOSIT INSUR- ANCE PURPOSES. (a) Section 7(a)(2)(B) of the Federal Deposit Insurance Act is amended by striking ‘‘agreement’’ and inserting ‘‘consultation’’. (b) Section 7(b)(1)(E) of the Federal Deposit Insurance Act is amended— (1) in clause (i), by striking ‘‘such as’’ and inserting ‘‘including’’; and (2) in clause (iii), by striking ‘‘Corporation’’ and inserting ‘‘Corporation, except as provided in section 7(a)(2)(B)’’. SEC. 334. TRANSITION RESERVE RATIO REQUIREMENTS TO REFLECT NEW ASSESSMENT BASE. (a) Section 7(b)(3)(B) of the Federal Deposit Insurance Act is amended to read as follows: ‘‘(B) MINIMUM RESERVE RATIO.—The reserve ratio des- ignated by the Board of Directors for any year may not be less than 1.35 percent of estimated insured deposits, or the comparable percentage of the assessment base set forth in paragraph (2)(C).’’. (b) Section 3(y)(3) of the Federal Deposit Insurance Act is amended by inserting ‘‘, or such comparable percentage of the assessment base set forth in section 7(b)(2)(C)’’ before the period. (c) For a period of not less than 5 years after the date of the enactment of this title, the Federal Deposit Insurance Corpora- tion shall make available to the public the reserve ratio and the designated reserve ratio using both estimated insured deposits and the assessment base under section 7(b)(2)(C) of the Federal Deposit Insurance Act. (d) RESERVE RATIO.—Notwithstanding the timing requirements of section 7(b)(3)(E)(ii) of the Federal Deposit Insurance Act, the Corporation shall take such steps as may be necessary for the reserve ratio of the Deposit Insurance Fund to reach 1.35 percent of estimated insured deposits by September 30, 2020. (e) OFFSET.—In setting the assessments necessary to meet the requirements of subsection (d), the Corporation shall offset the effect of subsection (d) on insured depository institutions with total consolidated assets of less than $10,000,000,000. Time period. Public information. 12 USC 1817 note. 12 USC 1813. Regulations. 12 USC 1817.