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of the Federal Home Loan Bank Act (12 U.S.C. 1441a(r)(4)(A)), as in effect on the day before the transfer date. (5) OFFICE.—The term ‘‘Office’’ means the Office of Minority and Women Inclusion established by an agency under sub- section (a). (6) WOMEN-OWNED BUSINESS.—The term ‘‘women-owned business’’ has the meaning given the term ‘‘women’s business’’ in section 21A(r)(4)(B) of the Federal Home Loan Bank Act (12 U.S.C. 1441a(r)(4)(B)), as in effect on the day before the transfer date.

SEC. 343. INSURANCE OF TRANSACTION ACCOUNTS.
(a) BANKS AND SAVINGS ASSOCIATIONS.—
(1) AMENDMENTS.—Section 11(a)(1) of the Federal Deposit
Insurance Act (12 U.S.C. 1821(a)(1)) is amended—
(A) in subparagraph (B)—
(i) by striking ‘‘The net amount’’ and inserting
the following:
‘‘(i) IN GENERAL.—Subject to clause (ii), the net
amount’’; and
(ii) by adding at the end the following new clauses:
‘‘(ii) INSURANCE FOR NONINTEREST-BEARING TRANS-
ACTION ACCOUNTS.—Notwithstanding clause (i), the
Corporation shall fully insure the net amount that
any depositor at an insured depository institution
maintains in a noninterest-bearing transaction
account. Such amount shall not be taken into account
when computing the net amount due to such depositor
under clause (i).
‘‘(iii) NONINTEREST-BEARING TRANSACTION ACCOUNT
DEFINED.—For purposes of this subparagraph, the term
‘noninterest-bearing transaction account’ means a
deposit or account maintained at an insured depository
institution—
‘‘(I) with respect to which interest is neither
accrued nor paid;
‘‘(II) on which the depositor or account holder
is permitted to make withdrawals by negotiable
or transferable instrument, payment orders of
withdrawal, telephone or other electronic media
transfers, or other similar items for the purpose
of making payments or transfers to third parties
or others; and
‘‘(III) on which the insured depository institu-
tion does not reserve the right to require advance
notice of an intended withdrawal.’’; and
(B) in subparagraph (C), by striking ‘‘subparagraph
(B)’’ and inserting ‘‘subparagraph (B)(i)’’.
12 USC 1821 (2) EFFECTIVE DATE.—The amendments made by paragraph
note. (1) shall take effect on December 31, 2010.
Effective date. (3) PROSPECTIVE REPEAL.—Effective January 1, 2013, sec-
12 USC 1821 tion 11(a)(1) of the Federal Deposit Insurance Act (12 U.S.C.
note. 1821(a)(1)), as amended by paragraph (1), is amended—
(A) in subparagraph (B)—

LAWS (i) by striking ‘‘DEPOSIT.—’’ and all that follows through ‘‘clause (ii), the net amount’’ and insert ‘‘DEPOSIT.—The net amount’’; andPUBLIC with on anorris VerDate Nov 24 2008 21:17 Aug 02, 2010 Jkt 089139 PO 00203 Frm 00170 Fmt 6580 Sfmt 6581 E:\PUBLAW\PUBL203.111 PUBL203