Page 164

124 STAT. 1538 PUBLIC LAW 111–203—JULY 21, 2010

(3) whether the plan sufficiently takes into consideration

the orderly transfer of authority and responsibilities; (4) whether the plan sufficiently takes into consideration the effective transfer of funds; (5) whether the plan sufficiently takes in consideration the orderly transfer of property; and (6) any additional recommendations for an orderly and effective process. (c) IMPLEMENTATION REPORTS.—Not later than 6 months after

the date on which the Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Financial Services of the House of Representatives receives the report required under subsection (b), and every 6 months thereafter until all aspects of the plan have been implemented, the Inspectors General of the Department of the Treasury, the Corporation, and the Board of Governors shall jointly provide a written report on the status of the implementation of the plan to the Board of Governors, the Corporation, the Office of the Comptroller of the Currency, and the Office of Thrift Supervision and shall submit a copy to the

Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Financial Services of the House of Represent- atives.

Subtitle C—Federal Deposit Insurance Corporation

SEC. 331. DEPOSIT INSURANCE REFORMS. (a) SIZE DISTINCTIONS.—Section 7(b)(2) of the Federal Deposit Insurance Act (12 U.S.C. 1817(b)(2)) is amended— (1) by striking subparagraph (D); and (2) by redesignating subparagraph (C) as subparagraph (D). 12 USC 1817 (b) ASSESSMENT BASE.—The Corporation shall amend the regu- note. lations issued by the Corporation under section 7(b)(2) of the Fed- eral Deposit Insurance Act (12 U.S.C. 1817(b)(2)) to define the term ‘‘assessment base’’ with respect to an insured depository institution for purposes of that section 7(b)(2), as an amount equal to— (1) the average consolidated total assets of the insured depository institution during the assessment period; minus (2) the sum of— (A) the average tangible equity of the insured deposi- tory institution during the assessment period; and (B) in the case of an insured depository institution that is a custodial bank (as defined by the Corporation, based on factors including the percentage of total revenues generated by custodial businesses and the level of assets under custody) or a banker’s bank (as that term is used in section 5136 of the Revised Statutes (12 U.S.C. 24)), an amount that the Corporation determines is necessary to establish assessments consistent with the definition LAWS under section 7(b)(1) of the Federal Deposit Insurance Act (12 U.S.C. 1817(b)(1)) for a custodial bank or a banker’s bank.PUBLIC with on anorris VerDate Nov 24 2008 21:17 Aug 02, 2010 Jkt 089139 PO 00203 Frm 00164 Fmt 6580 Sfmt 6581 E:\PUBLAW\PUBL203.111 PUBL203