The Emergency Economic Stabilization Act of 2008, referred to in subsec. (a)(3)(C), is div. A of Pub. L. 110–343, Oct. 3, 2008, 122 Stat. 3765, which is classified principally to chapter 52 (§ 5201 et seq.) of this title. For complete classification of this Act to the Code, see Short Title note set out under section 5201 of this title and Tables.

The Federal Financing Bank Act of 1973, referred to in subsec. (b), is Pub. L. 93–224, Dec. 29, 1973, 87 Stat. 937, which is classified generally to chapter 24 (§ 2281 et seq.) of this title. For complete classification of this Act to the Code, see Short Title note set out under section 2281 of this title and Tables.

“Chapter 31 of title 31” substituted in subsec. (a) for “the Second Liberty Bond Act, as amended” on authority of Pub. L. 97–258, § 4(b), Sept. 13, 1982, 96 Stat. 1067, the first section of which enacted Title 31, Money and Finance.

Section is derived from subsec. (o) of former section 264 of this title. See Codification note set out under section 1811 of this title.

2009—Subsec. (a). Pub. L. 111–22 substituted “$100,000,000,000” for “$30,000,000,000”, designated existing provisions as pars. (1) and (2), inserted par. headings, and added par. (3).

2006—Subsec. (a). Pub. L. 109–173, § 8(a)(20), in fifth sentence, substituted “Deposit Insurance Fund” for “Bank Insurance Fund or the Savings Association Insurance Fund” and “the Deposit Insurance Fund” for “each such fund”.

Pub. L. 109–171. Pub. L. 109–171 repealed Pub. L. 104–208, § 2704(d)(14)(N). See 1996 Amendment note below.

Subsec. (b). Pub. L. 109–173, § 8(a)(21), substituted “Deposit Insurance Fund” for “Bank Insurance Fund or Savings Association Insurance Fund”.

Pub. L. 109–171 repealed Pub. L. 104–208, § 2704(d)(14)(O). See 1996 Amendment note below.

Subsec. (c)(3). Pub. L. 109–173, § 8(a)(22), struck out heading and text of par. (3). Text read as follows:

“(A) BIF member payments.—No agreement or repayment schedule under paragraph (1) shall require any payment by a Bank Insurance Fund member for funds obtained under subsection (a) of this section for purposes of the Savings Association Fund.

“(B) SAIF member payments.—No agreement or repayment schedule under paragraph (1) shall require any payment by a Savings Association Insurance Fund member for funds obtained under subsection (a) of this section for purposes of the Bank Insurance Fund.”

Pub. L. 109–171 repealed Pub. L. 104–208, § 2704(d)(14)(P). See 1996 Amendment note below.

Subsec. (d). Pub. L. 109–173, § 8(a)(23)(D), substituted “Borrowing for the Deposit Insurance Fund from insured depository institutions” for “Borrowing for BIF from BIF members” in heading.

Pub. L. 109–171 repealed Pub. L. 104–208, § 2704(d)(14)(Q). See 1996 Amendment note below.

Subsec. (d)(1). Pub. L. 109–173, § 8(a)(23)(B), (C), substituted “insured depository institutions” for “Bank Insurance Fund members” in two places in introductory provisions and “Deposit Insurance Fund” for “Bank Insurance Fund” in subpars. (A) and (B).

Subsec. (d)(2)(D). Pub. L. 109–173, § 8(a)(23)(A), substituted “insured depository institution” for “Bank Insurance Fund member”.

Subsec. (d)(3). Pub. L. 109–173, § 8(a)(23)(C), (E), substituted “the Deposit Insurance Fund” for “BIF” in heading and “Deposit Insurance Fund” for “Bank Insurance Fund” in text.

Subsec. (d)(5). Pub. L. 109–173, § 8(a)(23)(A), (F), substituted “insured depository institutions” for “BIF members” in heading and “insured depository institution” for “Bank Insurance Fund member” in subpars. (A) and (B).

Subsec. (e). Pub. L. 109–173, § 8(a)(24), added subsec. (e).

1996—Subsec. (a). Pub. L. 104–208, § 2704(d)(14)(N), which directed substitution of “Deposit Insurance Fund” for “Bank Insurance Fund or the Savings Association Insurance Fund” and “the Deposit Insurance Fund” for “each such fund” in fifth sentence, was repealed by Pub. L. 109–171. See Effective Date of 1996 Amendment note below and 2006 Amendment note above.

Subsec. (b). Pub. L. 104–208, § 2704(d)(14)(O), which directed substitution of “Deposit Insurance Fund” for “Bank Insurance Fund or Savings Association Insurance Fund”, was repealed by Pub. L. 109–171. See Effective Date of 1996 Amendment note below and 2006 Amendment note above.

Subsec. (c)(3). Pub. L. 104–208, § 2704(d)(14)(P), which directed striking out par. (3), was repealed by Pub. L. 109–171. See Effective Date of 1996 Amendment note below and 2006 Amendment note above.

Subsec. (d). Pub. L. 104–208, § 2704(d)(14)(Q), which directed substitution of “DIF” for “BIF” and “Deposit Insurance Fund” for “Bank Insurance Fund” wherever appearing, was repealed by Pub. L. 109–171. See Effective Date of 1996 Amendment note below and 2006 Amendment note above.

1993—Subsec. (c)(3). Pub. L. 103–204 added par. (3).

1992—Subsec. (d)(2)(D). Pub. L. 102–550 substituted “member” for “Member”.

1991—Subsec. (a). Pub. L. 102–242, § 101, substituted “$30,000,000,000” for “$5,000,000,000”.

Subsec. (c). Pub. L. 102–242, § 103(a), added subsec. (c).

Subsec. (d). Pub. L. 102–242, § 105, added subsec. (d).

1990—Pub. L. 101–508 inserted section catchline, designated existing provisions as subsec. (a), inserted heading, substituted “this subsection” for “this section” wherever appearing, substituted “The Corporation may employ any funds obtained under this section” for “The Corporation may employ such funds”, and added subsec. (b).

1989—Pub. L. 101–73 substituted “$5,000,000,000 outstanding at any one time, subject to the approval of the Secretary of the Treasury” for “$3,000,000,000 outstanding at any one time”, substituted “an amount determined by the Secretary of the Treasury, taking into consideration current market yields on outstanding marketable obligations of the United States of comparable maturities” for “the current average rate on outstanding marketable and nonmarketable obligations of the United States as of the last day of the month preceding the making of such loan”, and inserted at end “The Corporation may employ such funds for purposes of the Bank Insurance Fund or the Savings Association Insurance Fund and the borrowing shall become a liability of each such fund to the extent funds are employed therefor. There are hereby appropriated to the Secretary, for fiscal year 1989 and each fiscal year thereafter, such sums as may be necessary to carry out this section.”

Committee on Banking, Finance and Urban Affairs of House of Representatives treated as referring to Committee on Banking and Financial Services of House of Representatives by section 1(a) of Pub. L. 104–14, set out as a note preceding section 21 of Title 2, The Congress. Committee on Banking and Financial Services of House of Representatives abolished and replaced by Committee on Financial Services of House of Representatives, and jurisdiction over matters relating to securities and exchanges and insurance generally transferred from Committee on Energy and Commerce of House of Representatives by House Resolution No. 5, One Hundred Seventh Congress, Jan. 3, 2001.

Amendment by Pub. L. 109–173 effective Mar. 31, 2006, see section 8(b) of Pub. L. 109–173, set out as a note under section 1813 of this title.

Amendment by Pub. L. 109–171 effective no later than the first day of the first calendar quarter that begins after the end of the 90-day period beginning Feb. 8, 2006, see section 2102(c) of Pub. L. 109–171, set out as a Merger of BIF and SAIF note under section 1821 of this title.

Amendment by Pub. L. 104–208 effective Jan. 1, 1999, if no insured depository institution is a savings association on that date, see section 2704(c) of Pub. L. 104–208, formerly set out as a note under section 1821 of this title.

Amendment by Pub. L. 102–550 effective as if included in the Federal Deposit Insurance Corporation Improvement Act of 1991, Pub. L. 102–242, as of Dec. 19, 1991, see section 1609(a) of Pub. L. 102–550, set out as a note under section 191 of this title.

Act Aug. 5, 1947, ch. 492, § 1, 61 Stat. 773, directed the Federal Deposit Insurance Corporation to retire its capital stock by paying the amount received therefor (whether received from the Secretary of the Treasury or the Federal Reserve banks) to the Secretary of the Treasury, to be covered into the Treasury as miscellaneous receipts, with the Corporation to pay to the Secretary so much of its capital and surplus as is in excess of $1,000,000,000, the balance of the amount to be paid to the Secretary in units of $10,000,000 except that the last unit to be paid could be less than $10,000,000.