Sec. 7. Federal deposits in minority depository institutions
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Section 308 of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 ( 12 U.S.C. 1463 note) is amended by adding at the end the following: The Secretary of the Treasury shall ensure that deposits made by Federal agencies in minority depository institutions are fully collateralized or fully insured, as determined by the Secretary. Such deposits shall include reciprocal deposits as defined in section 337.6(e)(2)(v) of title 12, Code of Federal Regulations (as in effect on March 6, 2019). .
Section 308 of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 ( 12 U.S.C. 1463 note) is amended— in the matter preceding paragraph (1), by striking section— and inserting section: ; and in the paragraph heading for paragraph (1), by striking and inserting financial . depository
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Sec. 7
Federal deposits in minority depository institutions
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