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U.S. Code as of:
01/19/04
Section 2808. Effective date
(a) In general
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 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 (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.
(3) Rounding
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.
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