Page:United States Statutes at Large Volume 108 Part 3.djvu/478

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108 STAT. 2230 PUBLIC LAW 103-325—SEPT. 23, 1994 events or circumstances that occurred before the date of enactment of this Act. SEC. 327. GAO REPORTS. Section 102(b)(1) of the Federal Deposit Insurance Corporation Improvement Act of 1991 (12 U.S.C. 1825 note) is amended to read as follows: "(1) QUARTERLY REPORTING. —Not later than 90 days after the end of any calendar quarter in which the Federal Deposit Insurance Corporation (hereafter in this section referred to as the 'Corporation') has any obligations pursuant to section 14 of the Federal Deposit Insurance Act outstanding, the Comptroller General of the United States shall submit a report on the Corporation's compliance at the end of that quarter with section 15(c) of the Federal Deposit Insurance Act to the Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Banking, Finance and Urban Affairs of the House of Representatives. Such report shall be included in the Comptroller General's audit report for that year, as required by section 17 of the Federal Deposit Insurance Act.". 12 USC 4801 SEC. 328. STUDY AND REPORT ON CAPITAL STANDARDS AND THEIR note. IMPACT ON THE ECONOMY. (a) IN GENERAL. — The Secretary of the Treasury, in consultation with the Federal banking agencies, shall conduct a study of the effect that the implementation of risk-based capital standards for depository institutions, including the Basle international capital standards, is having on— (1) the safety and soundness of insured depository institutions; (2) the availability of credit, particularly to individuals and small businesses; and (3) economic growth. (b) REPORT.— (1) IN GENERAL.—Before the end of the 1-year period beginning on the date of enactment of this Act, the Secretary of the Treasury shall submit a report to the Congress on the findings and conclusions of the Secretary with respect to the study conducted under subsection (a). (2) RECOMMENDATIONS.— The report shall contain any recommendations with respect to capital standards that the Secretary of the Treasury may determine to be appropriate. Reports. SEC. 329. STUDY ON THE IMPACT OF THE PAYMENT OF INTEREST 12 USC 4801 ON RESERVES. (a) FEDERAL RESERVE STUDY.— Not later than 180 days after the date of enactment of this Act, the Board of Governors of the Federal Reserve System, in consultation with the Federal Deposit Insurance Corporation and the National Credit Union Administration Board, shall conduct a study and report to the Congress on— (1) the necessity, for monetary policy purposes, of continuing to require insured depository institutions to maintain sterile reserves; (2) the appropriateness of paying a market rate of interest to insured depository institutions on sterile reserves or, in the alternative, providing for payment of such interest into the appropriate deposit insurance fund; note.