[Congressional Bills 110th Congress]
[From the U.S. Government Publishing Office]
[H.R. 6565 Introduced in House (IH)]







110th CONGRESS
  2d Session
                                H. R. 6565

   To provide additional authority to the Federal Deposit Insurance 
Corporation in resolving problem financial institutions, and for other 
                               purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             July 22, 2008

  Mr. Dreier introduced the following bill; which was referred to the 
                    Committee on Financial Services

_______________________________________________________________________

                                 A BILL


 
   To provide additional authority to the Federal Deposit Insurance 
Corporation in resolving problem financial institutions, and for other 
                               purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``FDIC Flexibility Act of 2008''.

SEC. 2. ADDITIONAL FLEXIBILITY FOR THE FDIC.

    (a) In General.--Section 13(c) of the Federal Deposit Insurance Act 
(U.S.C. 1823(c)) is amended--
            (1) by striking paragraph (4) and inserting the following 
        new paragraph:
            ``(4) [Repealed].--''; and
            (2) by striking paragraph (8) and inserting the following 
        new paragraph:
            ``(8) [Repealed].--''.
    (b) Repeal of Limitations on Advances.--Subsection (b) of section 
10B of the Federal Reserve Act (12 U.S.C. 347b) is amended to read as 
follows:
    ``(b) [Repealed].--''.
    (c) Other Related Provisions.--
            (1) Subparagraph (D) of section 11(d)(5) of the Federal 
        Deposit Insurance Act (U.S.C. 1821(d)(5)) is amended by 
        striking clauses (ii) and (iii) and inserting the following:
                            ``(ii) [Repealed].--
                            ``(iii) [Repealed].--''.
            (2) Paragraph (4) of section 11(d) of the Federal Deposit 
        Insurance Act (U.S.C. 1821(d)) is amended to read as follows:
            ``(4) [Repealed].--''.
            (3) Section 143 of the Federal Deposit Insurance 
        Corporation Improvement Act of 1991 (12 U.S.C. 1823 note) is 
        hereby repealed.
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