(a) In general Notwithstanding any other provision of law, paragraphs (8), (9), (10), and (11) of section 11(e) of the Federal Deposit Insurance Act [
12 U.S.C.
1821 (e)] shall apply to an uninsured national bank or uninsured Federal branch or Federal agency, a corporation chartered under section 25A of the Federal Reserve Act [
12 U.S.C.
611 et seq.], or an uninsured State member bank which operates, or operates as, a multilateral clearing organization pursuant to section
4422 of this title, except that for such purpose
(1) any reference to the Corporation as receiver or the receiver or the Corporation shall refer to the receiver appointed by the Comptroller of the Currency in the case of an uninsured national bank or uninsured Federal branch or agency, or to the receiver appointed by the Board of Governors of the Federal Reserve System in the case of a corporation chartered under section 25A of the Federal Reserve Act [
12 U.S.C.
611 et seq.] or an uninsured State member bank;
(2) any reference to the Corporation (other than in section 11(e)(8)(D) of such Act [
12 U.S.C.
1821 (e)(8)(D)]), the Corporation, whether acting as such or as conservator or receiver, a receiver, or a conservator shall refer to the receiver or conservator appointed by the Comptroller of the Currency in the case of an uninsured national bank or uninsured Federal branch or agency, or to the receiver or conservator appointed by the Board of Governors of the Federal Reserve System in the case of a corporation chartered under section 25A of the Federal Reserve Act [
12 U.S.C.
611 et seq.] or an uninsured State member bank; and
(3) any reference to an insured depository institution or depository institution shall refer to an uninsured national bank, an uninsured Federal branch or Federal agency, a corporation chartered under section 25A of the Federal Reserve Act [
12 U.S.C.
611 et seq.], or an uninsured State member bank which operates, or operates as, a multilateral clearing organization pursuant to section
4422 of this title.
(b) Liability The liability of a receiver or conservator of an uninsured national bank, uninsured Federal branch or agency, a corporation chartered under section 25A of the Federal Reserve Act [
12 U.S.C.
611 et seq.], or an uninsured State member bank which operates, or operates as, a multilateral clearing organization pursuant to section
4422 of this title, shall be determined in the same manner and subject to the same limitations that apply to receivers and conservators of insured depository institutions under section 11(e) of the Federal Deposit Insurance Act [
12 U.S.C.
1821 (e)].
(c) Regulatory authority
(1) In general The Comptroller of the Currency in the case of an uninsured national bank or uninsured Federal branch or agency and the Board of Governors of the Federal Reserve System in the case of a corporation chartered under section 25A of the Federal Reserve Act [
12 U.S.C.
611 et seq.], or an uninsured State member bank that operates, or operates as, a multilateral clearing organization pursuant to section
4422 of this title, in consultation with the Federal Deposit Insurance Corporation, may each promulgate regulations solely to implement this section.
(2) Specific requirement In promulgating regulations, limited solely to implementing paragraphs (8), (9), (10), and (11) of section 11(e) of the Federal Deposit Insurance Act [
12 U.S.C.
1821 (e)], the Comptroller of the Currency and the Board of Governors of the Federal Reserve System each shall ensure that the regulations generally are consistent with the regulations and policies of the Federal Deposit Insurance Corporation adopted pursuant to the Federal Deposit Insurance Act [
12 U.S.C.
1811 et seq.].
(d) Definitions For purposes of this section, the terms Federal branch, Federal agency, and foreign bank have the same meanings as in section
3101 of this title.
