Sec. 361. Bringing the Federal Deposit Insurance Corporation into the appropriations process
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Section 10(a) of the Federal Deposit Insurance Act ( 12 U.S.C. 1820(a) ) is amended— by striking
(a)The and inserting the following: The ; by inserting , subject to paragraph (2), after The Board of Directors of the Corporation ; and by adding at the end the following new paragraph: There is established an Operating Fund, to which Congress shall provide annual appropriations to the Corporation, which shall be separate from the Deposit Insurance Fund. The Corporation shall collect assessments and other fees, as provided under this Act, that are designed to recover the costs to the Government of the annual appropriation to the Corporation by Congress. Except as provided in
(E)and subject to subparagraph (F), the Corporation may only incur obligations, or allow and pay expenses, from the Operating Fund pursuant to an appropriations Act. Assessments and other fees described under subparagraph
(B)for any fiscal year— shall be deposited in the Operating Fund; and except as provided in subparagraph (E), shall not be collected for any fiscal year except to the extent provided in advance in appropriation Acts. Amounts deposited in the Operating Fund during a fiscal year shall be credited as offsetting the amount appropriated to the Operating Fund for such fiscal year. If on the first day of a fiscal year an appropriation to the Corporation has not been enacted, the Corporation shall continue to collect the assessments and other fees described under subparagraph
(B)at the rate in effect during the preceding fiscal year, until 60 days after the date such an appropriation is enacted. This paragraph shall not apply to the Corporation’s Insurance Business Line Programs and Receivership Management Business Line Programs, as in existence on the date of enactment of this paragraph. . Subsection
(d)of section 7 of the Federal Deposit Insurance Act ( 12 U.S.C. 1817 ) is amended to read as follows: Notwithstanding any other provision of law, amounts received pursuant to any assessments or other fees that are deposited into the Deposit Insurance Fund shall not be subject to apportionment for the purposes of chapter 15 of title 31, United States Code, or under any other authority. . The amendments made by this section shall apply with respect to expenses paid and fees collected on or after the date that is 90 days after the date of the enactment of the first appropriation Act that provides for appropriations to the Federal Deposit Insurance Corporation and that is enacted after the date of the enactment of this Act.
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Sec. 361
Bringing the Federal Deposit Insurance Corporation into the appropriations process
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