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The Text of the Dodd-Frank Act
International Association of
Risk and Compliance Professionals (IARCP)
Dodd Frank Act Section 331
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).
(b) ASSESSMENT BASE.—The
Corporation shall amend the regulations issued by the Corporation
under section 7(b)(2) of the Federal 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 depository
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 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.
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