S.Amdt. 3313

1. Rewrites section 1

   Replaces

   In S. 3637 · Placed on Calendar Senate

   SECTION 1. [struck: INSURED DEPOSITORY INSTITUTION ][inserted: TEMPORARY CONTINUATION OF THE ]TRANSACTION ACCOUNT GUARANTEE PROGRAM[inserted: FOR INSURED DEPOSITORY INSTITUTIONS].

   (a) [inserted: Temporary ]Extension.--Notwithstanding any other provision of law that would repeal subparagraphs (B) and (C) of section (11)(a)(1) of the Federal Deposit Insurance Act (12 U.S.C. 1821(a)(1)) on January 1, 2013, such subparagraphs shall remain in effect until December 31, 2014.

   (b) Prospective Repeal.--Effective on January 1, 2015, section 11(a)(1) of the Federal Deposit Insurance Act (12 U.S.C. 1821(a)(1)) is amended--

   (1) in subparagraph (B)--

   1 unchanged paragraphHide unchanged text

   (A) by striking "deposit.--" and all that follows through "clause (ii), the net amount" in clause (i), and inserting "deposit.--The net amount"; and

   (B) by striking clauses (ii) and (iii); and

   (2) in subparagraph (C), by striking "subparagraph (B)(i)" and inserting "subparagraph (B)".

   Inserted: (c) Fee System.--

   ([struck: c][inserted: 1]) [struck: Cost Recovery][inserted: In general].--The Federal Deposit Insurance Corporation (in this section referred to as the "Corporation") shall [struck: fully offset, in each calendar year, any estimated losses to ][inserted: establish, by rule, a fee system to fully offset the cost of ]the [struck: Deposit Insurance Fund established][inserted: transaction account guarantee program] under [inserted: clauses (ii) and (iii) of ]section 11([struck: a][inserted: A])([struck: 4][inserted: 1])[inserted: (B)] of the Federal Deposit Insurance Act[struck: (12 U.S.C. 1821(a)(4)) ][inserted: , such ]that [struck: may occur as a result of][inserted: there is no net cost to] the [struck: amendments made under subsections (a) and (b) of this section, by--][inserted: Deposit Insurance Fund.]

   Struck: (1) estimating the losses, if any, that are expected to occur for each calendar year; and

   Struck: (2) collecting an amount equal to such estimated losses by September 30 of such calendar year, which shall be in addition to the assessments that would otherwise be collected by the Corporation with respect to such year for insured depository institutions (as defined in section 3(c)(2) of that Act (12 U.S.C. 1813(c)(2))) pursuant to section 7(b) of that Act (12 U.S.C. 1817(b)).

   Inserted: (2) Pricing system requirements.--The fee system established by the Corporation under this subsection shall provide that--

   Inserted: (A) those depository institutions that voluntarily participate in the program shall be required to pay a pro rata share of such fees; and

   Inserted: (B) the 6 largest insured depository institutions, based on total assets, as determined by the Corporation, shall each be required to pay a share of such fees.

   Original wording

   Strike section 1 and insert the following:

Read automatically from the Congressional Record. Check the original before relying on it.

As printed