((a)) ** Suspension of parallel Federal Deposit Insurance Act authority** Effective upon , the Corporation may not exercise its authority under to establish any widely available debt guarantee program for which would provide authority.section 1823(c)(4)(G)(i) of this titlesection 5612 of this titleJuly 21, 20102010-07-21

((b)) ** Omitted**

((c)) ** Effect of default on an FDIC guarantee** If an insured depository institution or depository institution holding company (as those terms are defined in ) participating in a program under , or any participant in a debt guarantee program established pursuant to defaults on any obligation guaranteed by the Corporation after , the Corporation shall—

((1)) appoint itself as receiver for the insured depository institution that defaults; and

((2)) with respect to any other participating company that is not an insured depository institution that defaults—

((A)) require—

((i)) consideration of whether a determination shall be made, as provided in to resolve the company under ; and

((ii)) the company to file a petition for bankruptcy under if the Corporation is not appointed receiver pursuant to within 30 days of the date of default; or

((B)) file a petition for involuntary bankruptcy on behalf of the company under .