Sec. 709. Conforming amendments
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Section 12 of the Federal Deposit Insurance Act ( 12 U.S.C. 1822 ) is amended by adding at the end the following: In this subsection, the term covered depository institution has the meaning given the term in section 15(a) of the Bank Holding Company Act of 1956. The Corporation may be appointed as receiver of a covered depository institution, as defined in section 15(a) of the Bank Holding Company Act of 1956. A covered depository institution may not be charged deposit insurance premiums for the purpose of this subsection, but the Corporation may use the capital of the covered depository institution to fund the costs of the receivership.
The Corporation may promulgate rules to carry out this subsection, which shall— be substantially consistent with the rules for receivership of an insured depository institution; and account for the limited activities, capital, and the required tailored recovery and resolution plan of the covered depository institution. . The Federal Reserve Act ( 12 U.S.C. 221 et seq. ) is amended— in section 19(b)(1)(A) ( 12 U.S.C. 461(b)(1)(A) )— in clause (vi), by striking and at the end; in clause (vii), by striking the period at the end and inserting ; and ; and by adding at the end the following: a covered depository institution, as defined in section 15(a) of the Bank Holding Company Act of 1956. ; and in the first undesignated paragraph of section 9 ( 12 U.S.C. 321 ), in the first sentence, by inserting , covered depository institutions, as defined in section 15(a) of the Bank Holding Company Act of 1956 ( after 12 U.S.C. 1853(a) ), Plan banks .
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- 12 USC 1853(a)
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