A bill to make improvements to the Federal Insurance Deposit Act.

[AI summary unavailable — showing source text] Amends the Federal Deposit Insurance Act (FDIA) and the Federal Credit Union Act governing the treatment of certain agreements by conservators or receivers of depository institutions. Redefines a "securities contract," entered into before appointment of conservator or receiver, which the conservator or receiver may disaffirm or repudiate. Includes in such definition: (1) a repurchase or reverse repurchase transaction on any security, certificate of deposit, mortgage loan, interest, group or index, or option, regardless of whether the transaction is a repurchase agreement; (2) a guarantee, by novation, by or to a securities clearing agency regarding settlements of cash, securities, and interests; (3) a extension of credit for the clearance or settlement of securities transactions; and (4) a loan transaction coupled with a securities collar transaction, any prepaid securities forward transaction, or any total return swap transaction coupled with a securities sale transaction. Redefines "forward contract" to include a reverse repurchase transaction, regardless of whether the transaction is a repurchase agreement. Redefines "swap agreement" to: (1) include…