PUBLIC LAW 104-208—SEPT. 30, 1996 110 STAT. 3009-486 Bank Act (as amended by subsection (a)) shall not apply after the earlier of— (A) December 31, 1999; or (B) the date as of which the last savings association ceases to exist. (d) PROHIBITION ON DEPOSIT SHIFTING.— 12 USC 1441 (1) IN GENERAL.— Effective as of the date of the enactment note. of this Act and ending on the date provided in subsection (c)(2) of this section, the Comptroller of the Currency, the Board of Directors of the Federal Deposit Insurance Corporation, the Board of Governors of the Federal Reserve System, and the Director of the Office of Thrift Supervision shall take appropriate actions, including enforcement actions, denial of applications, or imposition of entrance and exit fees as if such transactions qualified as conversion transactions pursuant to section 5(d) of the Federal Deposit Insurance Act, to prevent insured depository institutions and depository institution holding companies from facilitating or encouraging the shifting of deposits from SAIF-assessable deposits to BIF-assessable deposits (as defined in section 21(k) of the Federal Home Loan Bank Act) for the purpose of evading the assessments imposed on insured depository institutions with respect to SAIF-assess - able deposits under section 7(b) of the Federal Deposit Insurance Act and section 21(f)(2) of the Federal Home Loan Bank Act. (2) REGULATIONS. — The Board of Directors of the Federal Deposit Insurance Corporation may issue regulations, including regulations defining terms used in paragraph (1), to prevent the shifting of deposits described in such paragraph. (3) RULE OF CONSTRUCTION. —No provision of this subsection shall be construed as prohibiting conduct or activity of any insured depository institution which— (A) is undertaken in the ordinary course of business of such depository institution; and • (B) is not directed towards the depositors of an insured depository institution affiliate (as defined in section 2(k) of the Bank Holding Company Act of 1956) of such depository institution. SEC. 2704. MERGER OF BIF AND SAIF. (a) IN GENERAL.— 12 USC 1821 (1) MERGER. —The Bank Insurance Fund and the Savings note. Association Insurance Fund shall be merged into the Deposit Insurance Fund established by section 11(a)(4) of the Federal Deposit Insurance Act, as amended by this section. (2) DISPOSITION OF ASSETS AND LIABILITIES. —A ll assets and liabilities of the Bank Insurance Fund and the Savings Association Insurance Fund shall be transferred to the Deposit Insurance Fund. (3) No SEPARATE EXISTENCE.—The separate existence of the Bank Insurance Fund and the Savings Association Insurance Fund shall cease. (b) SPECIAL RESERVE OF THE DEPOSIT INSURANCE FUND. — 12 USC 1821 (1) IN GENERAL. — Immediately before the merger of the °ote. Bank Insurance Fund and the Savings Association Insurance Fund, if the reserve ratio of the Savings Association Insurance Fund exceeds the designated reserve ratio, the amount by which
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