(B) the availability of credit to small businesses; (C) the range of credit options available to small businesses, such as those available from insured depository institutions and other providers of credit; (D) the types of credit products used to finance small business operations, including the use of traditional loans, leases, lines of credit, home equity loans, credit cards, and other sources of financing; (E) the credit needs of small businesses, including, if appropriate, the extent to which such needs differ, based upon product type, size of business, cash flow requirements, characteristics of ownership or investors, or other aspects of such business; (F) the types of risks to creditors in providing credit to small businesses; and (G) such other factors as the Board deems appropriate. (b) USE OF EXISTING DATA.-The studies required by this section shall not increase the regulatory or paperwork burden on regulated financial institutions, other sources of small business credit, or small businesses. SEC. 2422. FEDERAL RESERVE BOARD STUDY. (a) STUDY REQUIRED.-The Board of Governors of the Federal Reserve System, in consultation with the other_Federal banking agencies (as defined in section 3 of the Federal Deposit Insurance Act) and the Federal Trade Commission, shall conduct a study of whether organizations which, as of the date of the enactment of this Act, are not subject to the Fair Credit Reporting Act as consumer reporting agencies (as defined in section 603 of such Act) are engaged in the business of making sensitive consumer identification information, including social security numbers, mothers' maiden names, prior addresses, and dates of birth, available to the general public. (b) DETERMINATION OF POTENTIAL FOR FRAUD.-If the Board of Governors of the Federal Reserve System determines that organizations referred to in subsection (a) are engaged in the business of making sensitive consumer identification information available to the general public, the Board shall determine (1) whether such activities create undue potential for fraud and risk of loss to insured depository institutions (as defined in section 3 of the Federal Deposit Insurance Act); and (2) if so, whether changes in Federal law are necessary to address such risks of fraud and loss. (c) REPORT TO CONGRESS.-Before the end of the 6-month period beginning on the date of the enactment of this Act, the Board of Governors of the Federal Reserve System shall submit a report to the Congress containing— (1) the findings and conclusion of the Board in connection with the study required under subsections (a) and (b); and (2) recommendations for such legislative or administrative action as the Board determines to be appropriate. Subtitle F-Miscellaneous SEC. 2601. FEDERAL RESERVE BOARD STUDY. (a) STUDY OF ELECTRONIC STORED VALUE PRODUCTS. (1) STUDY.-The Board shall conduct a study of electronic stored value products which evaluates whether provisions of the Electronic Fund Transfer Act could be applied to such products without adversely impacting the cost, development, and operation of such products. (2) CONSIDERATIONS.-In conducting its study under paragraph (1), the Board shall consider whether alternatives to regulation under the Electronic Fund Transfer Act, such as allowing competitive market forces to shape the development and operation of electronic stored value products, could more efficiently achieve the objectives embodied in that Act. (b) REPORT.-The Board shall submit a report of its study under subsection (a) to the Congress not later than 6 months after the date of enactment of this Act. (c) ACTION TO FINALIZE.-The Board shall take no action to finalize any amendments to regulations under the Electronic Fund Transfer Act that would regulate electronic stored value products until the later of (1) 3 months after the date on which the report is submitted to the Congress under subsection (b); or (2) 9 months after the date of enactment of this Act. SEC. 2606. [12 U.S.C. 1752a nt] STUDY OF CORPORATE CREDIT UNIONS. (a) DEFINITIONS.-For purposes of this section, the following definitions shall apply: (1) ADMINISTRATION.-The term "Administration" means the National Credit Union Administration. (2) BOARD.-The term "Board" means the National Credit Union Administration Board. (3) CORPORATE CREDIT UNION.-The term "corporate credit union" has the meaning given such term by rule or regulation of the Board. (4) FUND.-The term "Fund" means the National Credit Union Share Insurance Fund established under section 203 of the Federal Credit Union Act. (5) SECRETARY.-The term "Secretary" means the Secretary of the Treasury. (b) STUDY. (1) IN GENERAL.-The Secretary, in consultation with the Board, the Corporation, the Comptroller of the Currency, and the Administration, shall conduct a study and evaluation of (A) the oversight and supervisory practices of the Administration concerning the Fund, including the treatment of amounts deposited in the Fund pursuant to section 202(c) of the Federal Credit Union Act, including analysis of (i) whether those amounts should be- (II) treated as expenses; and (ii) the use of those amounts in determining equity capital ratios; (B) the potential for, and potential effects of, administration of the Fund by an entity other than the Administration; (C) the 10 largest corporate credit unions in the United States, conducted in cooperation with appropriate employees of other Federal agencies with expertise in the examination of federally insured financial institutions, including and (i) the investment practices of those credit unions; (ii) the financial stability, financial operations, and financial controls of those credit unions; (D) the regulations of the Administration; and (E) the supervision of corporate credit unions by the Administration. (c) REPORT.-Not later than 12 months after the date of enactment of this Act, the Secretary shall submit to the appropriate committees of the Congress, a report that includes the results of the study and evaluation conducted under subsection (b), together with any recommendations that the Secretary considers to be appropriate. SEC. 2607. REPORT ON THE RECONCILIATION OF DIFFERENCES BE TWEEN REGULATORY ACCOUNTING PRINCIPLES AND Not later than 180 days after the date of enactment of this Act, each appropriate Federal banking agency shall submit to the Committee on Banking and Financial Services of the House of Representatives and the Committee on Banking, Housing, and Urban Affairs of the Senate, a report describing both the actions that have been taken by the agency and the actions that will be taken by the agency to eliminate or conform inconsistent or duplicative accounting and reporting requirements applicable to reports or statements filed with any such agency by insured depository institutions, as required by section 121 of the Federal Deposit Insurance Corporation Improvement Act of 1991. Subtitle G-Deposit Insurance Funds SEC. 2701. [12 U.S.C. 1811 nt] SHORT TITLE. This subtitle may be cited as the "Deposit Insurance Funds Act of 1996". SEC. 2702. [12 U.S.C. 1817 nt] SPECIAL ASSESSMENT TO CAPITALIZE SAIF. (a) IN GENERAL.-Except as provided in subsection (f), the Board of Directors of the Federal Deposit Insurance Corporation shall impose a special assessment on the SAIF-assessable deposits of each insured depository institution in accordance with assessment regulations of the Corporation at a rate applicable to all such institutions that the Board of Directors, in its sole discretion, determines (after taking into account the adjustments described in subsections (g), (h), and (j)) will cause the Savings Association Insurance Fund to achieve the designated reserve ratio on the first business day of the 1st month beginning after the date of the enactment of this Act. (b) FACTORS TO BE CONSIDERED.-In carrying out subsection (a), the Board of Directors shall base its determination on (1) the monthly Savings Association Insurance Fund balance most recently calculated; (2) data on insured deposits reported in the most recent reports of condition filed not later than 70 days before the date of enactment of this Act by insured depository institutions; and (3) any other factors that the Board of Directors deems appropriate. (c) DATE OF DETERMINATION.-For purposes of subsection (a), the amount of the SAIF-assessable deposits of an insured depository institution shall be determined as of March 31, 1995. (d) DATE PAYMENT DUE.-Except as provided in subsection (g), the special assessment imposed under this section shall be— (1) due on the first business day of the 1st month beginning after the date of the enactment of this Act; and (2) paid to the Corporation on the later of (A) the first business day of the 1st month beginning after such date of enactment; or (B) such other date as the Corporation shall prescribe, but not later than 60 days after the date of enactment of this Act. (e) ASSESSMENT DEPOSITED IN SAIF.-Notwithstanding any other provision of law, the proceeds of the special assessment imposed under this section shall be deposited in the Savings Association Insurance Fund. (f) EXEMPTIONS FOR CERTAIN INSTITUTIONS.— (1) EXEMPTION FOR WEAK INSTITUTIONS.-The Board of Directors may, by order, in its sole discretion, exempt any insured depository institution that the Board of Directors determines to be weak, from paying the special assessment imposed under this section if the Board of Directors determines that the exemption would reduce risk to the Savings Association Insurance Fund. (2) GUIDELINES REQUIRED.-Not later than 30 days after the date of enactment of this Act, the Board of Directors shall prescribe guidelines setting forth the criteria that the Board of Directors will use in exempting institutions under paragraph (1). Such guidelines shall be published in the Federal Register. (3) EXEMPTION FOR CERTAIN NEWLY CHARTERED AND OTHER DEFINED INSTITUTIONS.— (A) IN GENERAL.-In addition to the institutions exempted from paying the special assessment under paragraph (1), the Board of Directors shall exempt any insured depository institution from payment of the special assessment if the institution (i) was in existence on October 1, 1995, and held no SAIF-assessable deposits before January 1, 1993; (ii) is a Federal savings bank which (I) was established de novo in April 1994 in order to acquire the deposits of a savings association which was in default or in danger of default; and (II) received minority interim capital assistance from the Resolution Trust Corporation under section 21A(w) of the Federal Home Loan Bank Act in connection with the acquisition of any such savings association; or (iii) is a savings association, the deposits of which are insured by the Savings Association Insurance Fund, which (I) before January 1, 1987, was chartered as a Federal savings bank insured by the Federal Savings and Loan Insurance Corporation for the purpose of acquiring all or substantially all of the assets and assuming all or substantially all of the deposit liabilities of a national bank in a transaction consummated after July 1, 1986; and (II) as of the date of that transaction, had assets of less than $150,000,000. (B) DEFINITION.-For purposes of this paragraph, an institution shall be deemed to have held SAIF-assessable deposits before January 1, 1993, if— (i) it directly held SAIF-assessable deposits before that date; or (ii) it succeeded to, acquired, purchased, or otherwise holds any SAIF-assessable deposits as of the date of enactment of this Act that were SAIF-assessable deposits before January 1, 1993. (4) EXEMPT INSTITUTIONS REQUIRED TO PAY ASSESSMENTS AT FORMER RATES. (A) PAYMENTS TO SAIF AND DIF.-Any insured depository institution that the Board of Directors exempts under this subsection from paying the special assessment imposed under this section shall pay semiannual assessments (i) during calendar years 1996, 1997, and 1998, into the Savings Association Insurance Fund, based on SAIF-assessable deposits of that institution, at assessment rates calculated under the schedule in effect for Savings Association Insurance Fund members on June 30, 1995; and (ii) during calendar year 1999 (I) into the Deposit Insurance Fund, based on SAIF-assessable deposits of that institution as of |