PUBLIC LAW 109–390—DEC. 12, 2006
120 STAT. 2693
(2) INSURED CREDIT UNIONS.—Section 207(c)(8)(D)(ii) of the Federal Credit Union Act (12 U.S.C. 1787(c)(8)(D)(ii)) is amended— (A) in subclause (I)— (i) by striking ‘‘mortgage loan, or’’ and inserting ‘‘mortgage loan,’’; and (ii) by inserting before the semicolon ‘‘(whether or not such repurchase or reverse repurchase transaction is a ‘repurchase agreement’, as defined in clause (v))’’; (B) in subclause (IV)— (i) by inserting ‘‘(including by novation)’’ after ‘‘the guarantee’’; and (ii) by inserting before the semicolon ‘‘(whether or not such settlement is in connection with any agreement or transaction referred to in subclauses (I) through (XII) (other than subclause (II))’’; (C) in subclause (IX), by striking ‘‘or (VIII)’’ each place such term appears and inserting ‘‘(VIII), (IX), or (X)’’; (D) by redesignating subclauses (VI), (VII), (VIII), (IX), and (X) as subclauses (VIII), (IX), (X), (XI), and (XII), respectively; and (E) by inserting after subclause (V) the following new subparagraphs: ‘‘(VI) means any extension of credit for the clearance or settlement of securities transactions; ‘‘(VII) means any loan transaction coupled with a securities collar transaction, any prepaid securities forward transaction, or any total return swap transaction coupled with a securities sale transaction;’’. (b) DEFINITION OF FORWARD CONTRACT.— (1) FDIC-INSURED DEPOSITORY INSTITUTIONS.—Section 11(e)(8)(D)(iv)(I) of the Federal Deposit Insurance Act (12 U.S.C. 1821(e)(8)(D)(iv)(I)) is amended by striking ‘‘transaction, reverse repurchase transaction’’ and inserting ‘‘or reverse repurchase transaction (whether or not such repurchase or reverse repurchase transaction is a ‘repurchase agreement’, as defined in clause (v))’’. (2) INSURED CREDIT UNIONS.—Section 207(c)(8)(D)(iv)(I) of the Federal Credit Union Act (12 U.S.C. 1787(c)(8)(D)(iv)(I)) is amended by striking ‘‘transaction, reverse repurchase transaction’’ and inserting ‘‘or reverse repurchase transaction (whether or not such repurchase or reverse repurchase transaction is a ‘repurchase agreement’, as defined in clause (v))’’. (c) DEFINITION OF SWAP AGREEMENT.— (1) FDIC-INSURED DEPOSITORY INSTITUTIONS.—Section 11(e)(8)(D)(vi) of the Federal Deposit Insurance Act (12 U.S.C. 1821(e)(8)(D)(vi)) is amended— (A) in subclause (I)— (i) by striking ‘‘or precious metals’’ and inserting ‘‘, precious metals, or other commodity’’; and (ii) by striking ‘‘or a weather swap, weather derivative, or weather option’’ and inserting ‘‘weather swap, option, future, or forward agreement; an emissions swap, option, future, or forward agreement; or an inflation swap, option, future, or forward agreement’’;
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