This chapter shall take effect on the one hundred and eightieth day beginning after December 31, 1975. Any institution specified in section
2802(2)(A) of this title which has total assets as of its last full fiscal year of $10,000,000 or less is exempt from the provisions of this chapter. The Bureau, in consultation with the Secretary, may exempt institutions described in section
2802(2)(B) of this title that are comparable within their respective industries to institutions that are exempt under the preceding sentence (as determined without regard to the adjustment made by subsection (b) of this section).
(b) CPI adjustments
(1) In general
Subject to paragraph (2), the dollar amount applicable with respect to institutions described in section
2802(2)(A) of this title under the 2d sentence of subsection (a) of this section shall be adjusted annually after December 31, 1996, by the annual percentage increase in the Consumer Price Index for Urban Wage Earners and Clerical Workers published by the Bureau of Labor Statistics.
(2) 1-time adjustment for prior inflation
The first adjustment made under paragraph (1) after September 30, 1996, shall be the percentage by which—
(A)the Consumer Price Index described in such paragraph for the calendar year 1996, exceeds
(B)such Consumer Price Index for the calendar year 1975.
The dollar amount applicable under paragraph (1) for any calendar year shall be the amount determined in accordance with subparagraphs (A) and (B) of paragraph (2) and rounded to the nearest multiple of $1,000,000.
1996—Pub. L. 104–208designated existing provisions as subsec. (a), inserted heading, inserted “(as determined without regard to the adjustment made by subsection (b) of this section)” before period at end, and added subsec. (b).
1991—Pub. L. 102–242, § 224(a), as amended by Pub. L. 102–550, § 1604(a)(15), struck out “depository” before “institution”, inserted “specified in section
2802(2)(A) of this title” after “institution”, and inserted at end: “The Board, in consultation with the Secretary, may exempt institutions described in section
2802(2)(B) of this title that are comparable within their respective industries to institutions that are exempt under the preceding sentence.”
Effective Date of 2010 Amendment
Amendment by Pub. L. 111–203effective on the designated transfer date, see section 1100H ofPub. L. 111–203, set out as a note under section
552a of Title
5, Government Organization and Employees.
Effective Date of 1992 Amendment
Amendment by Pub. L. 102–550effective as if included in the Federal Deposit Insurance Corporation Improvement Act of 1991, Pub. L. 102–242, as of Dec. 19, 1991, see section 1609(a) ofPub. L. 102–550, set out as a note under section
191 of this title.
Effective Date of 1991 Amendment
Pub. L. 102–242, title II, § 224(b),Dec. 19, 1991, 105 Stat. 2307, provided that: “This section [amending this section] shall become effective on January 1, 1992.”
The table below lists the classification updates, since Jan. 3, 2012, for this section. Updates to a broader range of sections may be found at the update page for containing chapter, title, etc.
The most recent Classification Table update that we have noticed was Tuesday, August 13, 2013
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