S.Amdt. 3324
What it does: 2 changes: replaces text in 2 places
Sen. Bob Corker (R-TN)What it changes
2 changes to S. 3637
Change 1: Rewrites page 2, line 24 through page 4, line 20
ReplacesPrinted pageRemoves page 2, line 24 through page 4, line 20 of the printed bill. See that page
Inserted: (2) collecting from participating insured depository institutions (as defined in section 11(a)(1)(B)(iv) of that Act) 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: (d) Deposit Insurance Voluntary Participation.--Effective on January 1, 2013, section 11(a)(1)(B) of the Federal Deposit Insurance Act (12 U.S.C. 1821(a)(1)(B)) is amended--
Inserted: (1) in clause (ii), by striking "an insured depository institution" and inserting "a participating insured depository institution"; and
Inserted: (2) by adding at the end the following:
Inserted: "(iv) Participating insured depository institution defined.--For purposes of this subparagraph, the term 'participating insured depository institution' means an insured depository institution that elects, in a manner and during a time period for such election specified by the Corporation, to have all of its noninterest-bearing transaction accounts fully insured by the Corporation.".
Original wording
On page 2, strike line 24 and all that follows through page 4, line 20 and insert the following:
Change 2: Rewrites page 4, lines 13–20
ReplacesPrinted pageRemoves page 4, lines 13–20 of the printed bill. See that page
Inserted: (2) collecting from each participating insured credit union 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 Administration with respect to such year for insured credit unions (as defined in section 101 of that Act (12 U.S.C. 1752)) pursuant to section 202 of that Act (12 U.S.C. 1782).
Inserted: (d) Credit Union Insurance Voluntary Participation.--Effective on January 1, 2013, section 207(k)(1)(A) of the Federal Credit Union Act (12 U.S.C. 1787(k)(1)(A)) is amended--
Inserted: (1) in clause (ii), by striking "an insured credit union" and inserting "a participating insured credit union"; and
Inserted: (2) by adding at the end the following:
Inserted: "(iv) Participating insured credit union defined.--For purposes of this subparagraph, the term 'participating insured credit union' means an insured credit union that elects, in a manner and during a time period for such election specified by the Administration, to have all of its noninterest-bearing transaction accounts fully insured by the Administration.".
Original wording
On page 4, strike lines 13 through 20 and insert the following:
Read automatically from the Congressional Record. Check the original before relying on it.
As printed
SA 3324. Mr. CORKER submitted an amendment intended to be proposed by him to the bill S. 3637, to temporarily extend the transaction account guarantee program, and for other purposes; which was ordered to lie on the table; as follows:
On page 2, strike line 24 and all that follows through page 4, line 20 and insert the following:
(2) collecting from participating insured depository institutions (as defined in section 11(a)(1)(B)(iv) of that Act) 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)).
(d) Deposit Insurance Voluntary Participation.--Effective on January 1, 2013, section 11(a)(1)(B) of the Federal Deposit Insurance Act (12 U.S.C. 1821(a)(1)(B)) is amended--
(1) in clause (ii), by striking “an insured depository institution” and inserting “a participating insured depository institution”; and
(2) by adding at the end the following:
“(iv) Participating insured depository institution defined.--For purposes of this subparagraph, the term ‘participating insured depository institution' means an insured depository institution that elects, in a manner and during a time period for such election specified by the Corporation, to have all of its noninterest-bearing transaction accounts fully insured by the Corporation.”.
On page 4, strike lines 13 through 20 and insert the following:
(2) collecting from each participating insured credit union 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 Administration with respect to such year for insured credit unions (as defined in section 101 of that Act (12 U.S.C. 1752)) pursuant to section 202 of that Act (12 U.S.C. 1782).
(d) Credit Union Insurance Voluntary Participation.--Effective on January 1, 2013, section 207(k)(1)(A) of the Federal Credit Union Act (12 U.S.C. 1787(k)(1)(A)) is amended--
(1) in clause (ii), by striking “an insured credit union” and inserting “a participating insured credit union”; and
(2) by adding at the end the following:
“(iv) Participating insured credit union defined.--For purposes of this subparagraph, the term ‘participating insured credit union' means an insured credit union that elects, in a manner and during a time period for such election specified by the Administration, to have all of its noninterest-bearing transaction accounts fully insured by the Administration.”.
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Senate amendment submitted
December 11, 2012