Sec. 904. Bringing the Federal Deposit Insurance Corporation into the appropriations process
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/bill/115/hr/3280/rh/section-904A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
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: Except as provided under paragraph (3), the Corporation may, only to the extent as provided in advance by appropriations Acts, cover the costs incurred in carrying out the provisions of this Act, including with respect to the administrative costs of the Corporation and the costs of the examination and supervision of insured depository institutions. Paragraph
(2)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, and the proportion of the administrative costs of the Corporation related to such programs. . Section 10(e)(1) of the Federal Deposit Insurance Act ( 12 U.S.C. 1820(e)(1) ) is amended by striking to meet the expenses of the Corporation in carrying out such examinations and inserting and may be expended by the Board only to the extent as provided in advance by appropriations Acts to cover the costs incurred in carrying out such examinations . The Federal Deposit Insurance Corporation shall reduce the amount of insurance premiums charged by the Corporation under the Federal Deposit Insurance Act in an amount equal to any additional fees charged by the Corporation by reason of the amendments made by this section. The amendments made by this section shall apply with respect to expenses paid and fees collected on or after October 1, 2018.
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Sec. 904
Bringing the Federal Deposit Insurance Corporation into the appropriations process
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