PUBLIC LAW 101-73 —AUG. 9, 1989 103 STAT. 359 coverage, the Federal Deposit Insurance Corporation shall con- sider all relevant factors necessary to promote safety and sound- ? ness, depositor confidence, and the stability of deposits in in- sured depository institutions. (5) NOTICE; EFFECTIVE DATE.— Regulations prescribed under this subsection shall— (A) provide for effective notice to depositors in insured depository institutions of any change in deposit insurance coverage which would result under such regulations; and (B) take effect on or before the end of the 90-day period beginning on the date such regulations become final. (6) DEFINITIONS.—For purposes of this subsection— (A) INSURED ACCOUNT. —The term "insured account" has the meaning given to such term in section 401(c) of the National Housing Act (as in effect before the date of the enactment of this Act). (B) INSURED DEPOSITORY INSTITUTION. —The term "insured depository institution" has the meaning given to such term in section 3(c)(2) of the Federal Deposit Insurance Act. (d) INTERIM TREATMENT OF CUSTODIAL ACCOUNTS.— (1) IN GENERAL.— Subject to paragraph (2) and notwithstand- ing subsection (a) or any limitation contained in the Federal Deposit Insurance Act relating to the amount of deposit insur- ance available to any 1 borrower, amounts held in custodial accounts in insured depository institutions (as defined in section 3(c)(2) of such Act) for the payment of principal, interest, tax, and insurance payments for mortgage borrowers, shall be in- sured under the Federal Deposit Insurance Act in the amount of $100,000 per mortgage borrower. (2) TREATMENT AFTER EFFECTIVE DATE OF NEW REGULATIONS.— After the effective date of the regulations prescribed under subsection (c)— (A) the amount of deposit insurance available for custo- dial accounts shall be determined in accordance with such regulations; and (B) paragraph (1) shall cease to apply with respect to such accounts. (e) TREATMENT OF REFERENCES IN ADJUSTABLE RATE MORTGAGE INSTRUMENTS. — (1) IN GENERAL.—For purposes of adjustable rate mortgage instruments that are in effect as of the date of enactment of this Act, any reference in the instrument to the Federal Savings and Loan Insurance Corporation, the Federal Home Loan Bank Board, or institutions insured by the Federal Savings and Loan ' , Insurance Corporation before such date shall be treated as a ' reference to the Federal Deposit Insurance Corporation, the Federal Housing Finance Board, the Office of Thrift Super- vision, or institutions which are members of the Savings Association Insurance Fund, as appropriate on the basis of the transfer of functions pursuant to this Act, unless the context of the reference requires otherwise. (2) SUBSTITUTION FOR INDEXES. —I f any index used to calculate the applicable interest rate on any adjustable rate mortgage instrument is no longer calculated and made available as a direct or indirect result of the enactment of this Act, any index—
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