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 loan holding company, as defined in section 10 of the Home Owners’ Loan Act ( 12 U.S.C. 1467a ), the total consolidated assets described in paragraph (2)(B) shall not include any asset of an insurance company. .