; and (2) in paragraph (2), by inserting In the case of an insurance savings and loan holding company, the authority of the Board to conduct investigations shall be limited to the material subsidiaries of the insurance savings and loan holding company. after the period at the end. (d) Intermediate holding companies Section 10A(d) of the Home Owners’ Loan Act ( 12 U.S.C. 1467b(d) ) is amended by adding at the end the following: (3) Insurance savings and loan holding companies If the Board requires a grandfathered unitary savings and loan holding company that is an insurance savings and loan holding company to establish an intermediary holding company to engage in financial activities, the intermediary holding company shall be treated as an insurance savings and loan holding company for purposes of supervision and regulation by the Board. . (e) Emergency supervisory authority Section 10 of the Home Owners’ Loan Act ( 12 U.S.C. 1467a ) is amended by adding the following new subsection at the end thereof: (u) Emergency supervisory authority The Board, by order, may suspend the application of paragraphs (2)(C)(ii), (2)(D), and (4)(D) of subsection (c) and the final sentences of paragraphs (1) and (2) of subsection (g) to an insurance savings and loan holding company and apply subsection (b)(3) to an insurance savings and loan holding company if the Board, after consultation with the State insurance authority for the insurance savings and loan holding company, reasonably determines that the operations and activities of the insurance savings and loan holding company pose a serious and imminent risk to the financial safety and soundness or stability of the insurance savings and loan holding company’s subsidiary saving association. . 3. Assessments and fees for insurance savings and loan holding companies Section 11 of the Federal Reserve Act ( 12 U.S.C. 248 ) is amended, in the second subsection (s) (relating to assessments), by adding at the end the following: (3) Excluded assets With respect to an insurance savings and