,i  #aafth ,,congress  #ast ,session    
,h4 ,r4 #dchd  ,,in ,,the ,,house ,,of  
,,representatives  ,september #ah1      
#bjai,mr4 ,crist 7for himself and ,mr4  
,hill of ,arkansas7 introduced the      
following bill2 which was referred to   
the ,committee on ,financial ,services  
,a ,,bill  ,to amend the ,federal       
,deposit ,insurance ,act to ensure that 
certain custodial deposits of a well    
capitalized insured depository          
institution are not considered to be    
funds obtained by or through a deposit  
broker1 and for other purposes4  #a4    
,short title ,this ,act may be cited as 
the ,community ,bank ,deposit ,access   
,act of #bjai4  #b4 ,limited exception  
for custodial deposits  7a7 ,in general 
,section #bi of the ,federal ,deposit   
,insurance ,act 7#ab ,u4,s4,c4 #ahca;f7 
is amended by adding at the end the     
following3  7j7 ,limited exception for  
custodial deposits  7#a7 ,in general    
,custodial deposits of an eligible      
institution shall not be considered to  

be funds obtained1 directly or          
indirectly1 by or through a deposit     
broker to the extent that the total     
amount of such custodial deposits does  
not exceed the lesser of--  7,a7        
#e1jjj1jjj1jjj2 or  7,b7 an amount equal
 to #aj percent of the total liabilities
 of the eligible institution4  7#b7     
,definitions ,in this subsection3 7,a7  
,custodial deposit ,the term custodial  
deposit means a deposit that would      
otherwise be considered to be obtained1 
directly or indirectly1 by or through a 
deposit broker1 if it is deposited at #a
 or more insured depository             
institutions1 for the purpose of        
providing or maintaining deposit        
insurance for the benefit of a third    
party1 by or through any of the         
following1 each acting in a formal      
custodial or fiduciary capacity for the 
benefit of a third party3  7i7 ,an      
insured depository institution serving  
as agent1 trustee1 or custodian4  7ii7  
,a trust entity controlled by an insured

 depository institution serving as      
agent1 trustee1 or custodian4  7iii7 ,a 
,state-chartered trust company serving  
as agent1 trustee1 or custodian4  7iv7  
,a plan administrator or investment     
advisor1 acting in a formal custodial or
 fiduciary capacity for the benefit of a
 plan defined in section #c7c7 of the   
,employee ,retirement ,income ,security 
,act of #aigd 7#bi ,u4,s4,c4 #ajjb7c774 
7,b7 ,eligible institution ,the term    
eligible institution means an insured   
depository institution that accepts     
custodial deposits1 that were not placed
 there in return for fees paid by the   
insured depository institution pursuant 
to an agreement with a third party1 if  
the insured depository institution--    
7i7  7,i7 when most recently examined   
under section #aj7;d7 was found to have 
a composite condition of outstanding or 
good2 and  7,,ii7 is well capitalized2  
or  7ii7 has obtained a waiver pursuant 
to subsection 7c74  7,c7 ,plan          
administrator ,the term plan            

administrator has the meaning given the 
term administrator in section #c7af7 of 
the ,employee ,retirement ,income       
,security ,act of #aigd 7#bi ,u4,s4,c4  
#ajjb7af774  7,d7 ,well capitalized ,the
 term well capitalized has the meaning  
given the term in section               
#ch7;b77#a77;,a74  4  7b7 ,interest rate
 restriction ,section #bi of the        
,federal ,deposit ,insurance ,act 7#ab  
,u4,s4,c4 #ahca;f7 is amended by        
striking subsection 7e7 and inserting   
the following3  7e7 ,restriction on     
interest rate paid  7#a7 ,definitions   
,in this subsection-- 7,a7 the terms    
custodial deposit1 eligible institution1
 and well capitalized have the meanings 
given those terms1 respectively1 in     
subsection 7j72 and  7,b7 the term      
covered insured depository institution  
means an insured depository institution 
that-- 7i7 under subsection 7c7 or 7d71 
accepts funds obtained1 directly or     
indirectly1 by or through a deposit     
broker1 or  7ii7 while acting as an     

eligible institution under subsection   
7j71 accepts custodial deposits while   
not well capitalized4  7#b7 ,prohibition
 ,a covered insured depository          
institution may not pay a rate of       
interest on funds that1 under subsection
 7c7 or 7d71 are obtained1 directly or  
indirectly1 by or through a deposit     
broker or on custodial deposits that are
 accepted while not well capitalized    
that1 at the time the funds or custodial
 deposits are accepted1 significantly   
exceeds the limit set forth in paragraph
 7#c74  7#c7 ,limit on interest rates   
,the limit on the rate of interest      
referred to in paragraph 7#b7 shall be--
 7,a7 the rate paid on deposits of      
similar maturity in the normal market   
area of the covered insured depository  
institution for deposits accepted in the
 normal market area of the covered      
insured depository institution2 or  7,b7
 the national rate paid on deposits of  
comparable maturity1 as established by  
the ,corporation1 for deposits accepted 

outside the normal market area of the   
covered insured depository institution4 
4