1994 US Code
Title 12 - BANKS AND BANKING
CHAPTER 16 - FEDERAL DEPOSIT INSURANCE CORPORATION
Sec. 1831r - Payments on foreign deposits prohibited
View MetadataPublication Title | United States Code, 1994 Edition, Title 12 - BANKS AND BANKING |
Category | Bills and Statutes |
Collection | United States Code |
SuDoc Class Number | Y 1.2/5: |
Contained Within | Title 12 - BANKS AND BANKING CHAPTER 16 - FEDERAL DEPOSIT INSURANCE CORPORATION Sec. 1831r - Payments on foreign deposits prohibited |
Contains | section 1831r |
Date | 1994 |
Laws in Effect as of Date | January 4, 1995 |
Positive Law | No |
Disposition | standard |
Source Credit | Sept. 21, 1950, ch. 967, §2[41], as added Dec. 19, 1991, Pub. L. 102-242, title III, §312, 105 Stat. 2367. |
Statutes at Large References | 38 Stat. 251 105 Stat. 2367 |
Public Law Reference | Public Law 102-242 |
§1831r. Payments on foreign deposits prohibited (a) In general
Notwithstanding any other provision of law, the Corporation, the Board of Governors of the Federal Reserve System, the Resolution Trust Corporation, any other agency, department, and instrumentality of the United States, and any corporation owned or controlled by the United States may not, directly or indirectly, make any payment or provide any assistance, guarantee, or transfer under this chapter or any other provision of law in connection with any insured depository institution which would have the direct or indirect effect of satisfying, in whole or in part, any claim against the institution for obligations of the institution which would constitute deposits as defined in section 1813(l) of this title but for subparagraphs (A) and (B) of section 1813(l)(5) of this title.
(b) ExceptionSubsection (a) of this section shall not apply to any payment, assistance, guarantee, or transfer made or provided by the Corporation if the Board of Directors determines in writing that such action is not inconsistent with any requirement of section 1823(c) of this title.
(c) Discount window lendingNo provision of this section shall be construed as prohibiting any Federal Reserve bank from making advances or otherwise extending credit pursuant to the Federal Reserve Act [12 U.S.C. 221 et seq.] to any insured depository institution to the extent that such advance or extension of credit is consistent with the conditions and limitations imposed under section 10B of such Act [12 U.S.C. 347b].
(Sept. 21, 1950, ch. 967, §2[41], as added Dec. 19, 1991, Pub. L. 102–242, title III, §312, 105 Stat. 2367.)
References in TextThe Federal Reserve Act, referred to in subsec. (c), is act Dec. 23, 1913, ch. 6, 38 Stat. 251, as amended, which is classified principally to chapter 3 (§221 et seq.) of this title. For complete classification of this Act to the Code, see References in Text note set out under section 226 of this title and Tables.
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