Page:United States Statutes at Large Volume 95.djvu/1539

 PUBLIC LAW 97-110—DEC. 26, 1981

95 STAT. 1513

Public Law 97-110 97th Congress An Act To clarify the treatment of international banking facility deposits for purposes of deposit insurance assessments and to remove certain limitations on the mortgage loan purchase authority of the Federal Home Loan Mortgage Corporation and the Federal National Mortgage Association.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, TITLE I—INTERNATIONAL BANKING FACILITY DEPOSIT INSURANCE ACT

Dec. 26, 1981 [H.R. 4879]

International Banking Facility Deposit Insurance Act.

SHORT TITLE

SEC. 101. This title may be cited as the 'International Banking Facility Deposit Insurance Act", INTERNATIONAL BANKING FACILITY DEPOSITS

SEC. 102. Section 3(1)(5) of the Federal Deposit Insurance Act (12 U.S.C. 1813(1)(5)) is amended to read as follows: "(5) such other obligations of a bank as the Board of Directors, after consultation with the Comptroller of the Currency and the Board of Governors of the Federal Reserve System, shall find and prescribe by regulation to be deposit liabilities by general usage, except that the following shall not be a deposit for any of the purposes of this Act or be included as part of the total deposits or of an insured deposit: "(A) any obligation of a bank which is payable only at an office of such bank located outside of the States of the United States, the District of Columbia, Puerto Rico, Guam, American Samoa, the Trust Territory of the Pacific Islands, and the Virgin Islands; and "(B) any international banking facility deposit, including an international banking facility time deposit, as such term is from time to time defined by the Board of Governors of the Federal Reserve System in regulation D or any successor regulation issued by the Board of Governors of the Federal R ^ r v e System.". BRANCHES OF INSURED BANKS IN THE TRUST TERRITORY OF THE PACIFIC ISLANDS

SEC. 103. (a) Section 3 of the Federal Deposit Insurance Act (12 U.S.C. 1813) is amended— (1) in subsection (a), by inserting "the Trust Territory of the Pacific Islands," after "American Samoa," each place it appears therein; (2) in subsection (m)(D, by inserting "of the Trust Territory of the Pacific Islands," after "American Samoa,"; and

12 USC 1811 note.

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