Page:United States Statutes at Large Volume 83.djvu/403

 83 STAT. ]

PUBLIC LAW 91-151-DEC. 23, 1969

(c) The first sentence of section 18(g) of the Federal Deposit Insurance Act (12 U.S.C. 1828(g)) is amended by inserting "or dividends"

375 ^^ Stat. 893.


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SEC. 5. Section 19(b) of the Federal Reserve Act (12 U.S.C. 461) «« Stat. 823. is amended by adding at the end thereof a new sentence as follows: "The Board may, however, prescribe any reserve ratio, not more than 22 per centum, with respect to any indebtedness of a member bank that arises out of a transaction in the' ordinary course of its banking business with respect to either funds received or credit extended by such bank to a bank organized under the law of a foreign country or a dependency or insular possession of the United States." SEC. 6. (a) Effective as of the close of December 31, 1969, section 404 ^^^f ^'^"''^ of the National Housing Act is amended _ °48"Stat. i258; (1) by striking out "plus any creditor obligations of such insti- 75 Stat. 483. tution" m subsection (b)(1), and the amendment made by this 12 USC ^^' ^^ "^^ 1727. subdivision (1) shall be applicable also to any then unexpired portion of any then current premium year under subsection (b)(1). .. (2) by striking out "and creditor obligations' m subsection (b)(2). (3) by striking out "and its creditor obligations" in subsection (c). (4) by striking out "and creditor obligations" each place it appears in subsection (g). The condition m the first sentence of that subsection shall be deemed to be met as of the close of December 31, 1969. The words "such year" in that sentence shall be deemed to include also the year beginning January 1, 1970. (b) The Federal Savings and Loan Insurance Corporation is authorized by regulation or otherwise (1) to make such provisions as it may deem advisable with respect to the order in which and the extent to which the components of a pro rata share of its secondary reserve shall be applied or be deemed to have been applied in the case of a reduction of such share through a use under the second sentence of section 404^6) of the National Housing Act or the first sentence of section 404(g), a transfer of part of such share under the third sentence of section 404(e), or otherwise. (2) to take such action, including without limitation such adjustments and refunds and such deferrals of premium payments and other payments, as it may determine to be necessary or appropriate for or in connection with the implementation of this section or other legislation amending or supplementing said section 404. SEC. 7. (a) The following provisions of the Federal Deposit Insur873. ance Act are amended by changing "$15,000", each place it appears 64 Stat. 1811 12 USC therein, to read "$20,000'"': note. (1) The first sentence of section 3(m) (12 U.S.C. 1813 (m)). so Stat. 1055 (2) The first sentence of section 7(i) (12 U.S.C. 1 8 l 7 (i)). (3) The last sentence of section 11(a) (12 U.S.C. 1821(a)). (4) The fifth sentence of section 11(i) (12 U.S.C. 1821 (i)). (b) The amendments made by this section are not applicable to any claim arising out of the closing of a bank prior to the date of enactment of this Act. SEC. 8. (a) The following provisions of title IV of the National Housing Act are amended by changing "$15,000", each place it appears "^^ Stat. 1255; 81 «.„. 611. therein, to read "$20,000": 6 ^ » » F FF «I Stat.,, 12 USC 172417S*c. (1) Section 401(b) (13 U.S.C. lT»4(b)). • « Stat. 1055. (2) Section 406(a) (12 U.S.C. 1728(a)).

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