Page 146 — Public Law 111-203 including PTFA amendments

124 STAT. 1520 PUBLIC LAW 111–203—JULY 21, 2010

(B) current mechanisms and structures for facilitating
international cooperation;
(C) barriers to effective international coordination; and
(D) ways to increase and make more effective inter-
national coordination of the resolution of financial compa-
nies, so as to minimize the impact on the financial system
without creating moral hazard.
(b) REPORT TO CONGRESS.—Not later than 1 year after the
date of enactment of this Act, the Administrative office of the
United States Courts shall submit to the Committees on Banking,
Housing, and Urban Affairs and the Judiciary of the Senate and
the Committees on Financial Services and the Judiciary of the
House of Representatives a report summarizing the results of the
study conducted under subsection (a).

Enhancing TITLE III—TRANSFER OF POWERS TO
Financial
Institution Safety THE COMPTROLLER OF THE CUR-
and Soundness
Act of 2010. RENCY, THE CORPORATION, AND THE
BOARD OF GOVERNORS

12 USC 5301 SEC. 300. SHORT TITLE.
note.
This title may be cited as the ‘‘Enhancing Financial Institution
Safety and Soundness Act of 2010’’.

12 USC 5401. SEC. 301. PURPOSES.
The purposes of this title are—
(1) to provide for the safe and sound operation of the
banking system of the United States;
(2) to preserve and protect the dual system of Federal
and State-chartered depository institutions;
(3) to ensure the fair and appropriate supervision of each
depository institution, regardless of the size or type of charter
of the depository institution; and
(4) to streamline and rationalize the supervision of deposi-
tory institutions and the holding companies of depository
institutions.

12 USC 5402. SEC. 302. DEFINITION.
In this title, the term ‘‘transferred employee’’ means, as the
context requires, an employee transferred to the Office of the Comp-
troller of the Currency or the Corporation under section 322.

Subtitle A—Transfer of Powers and Duties

12 USC 5411. SEC. 311. TRANSFER DATE.
Definition. (a) TRANSFER DATE.—Except as provided in subsection (b), the
term ‘‘transfer date’’ means the date that is 1 year after the date
of enactment of this Act.
(b) EXTENSION PERMITTED.—
Deadline. (1) NOTICE REQUIRED.—The Secretary, in consultation with
the Comptroller of the Currency, the Director of the Office

LAWS of Thrift Supervision, the Chairman of the Board of Governors, and the Chairperson of the Corporation, may extend the period under subsection (a) and designate a transfer date that isPUBLIC with on anorris VerDate Nov 24 2008 21:17 Aug 02, 2010 Jkt 089139 PO 00203 Frm 00146 Fmt 6580 Sfmt 6581 E:\PUBLAW\PUBL203.111 PUBL203