Thrift Forbearance and Supervisory Reform Act

[AI summary unavailable — showing source text] Thrift Forbearance and Supervisory Reform Act - Amends the Home Owners' Loan Act of 1933 to authorize a qualified Federal savings and loan association to amortize on its financial statements over five to ten years any loss it would otherwise be required to reflect in its financial statement for a calendar year through 1991. Defines a "qualified association" as any association: (1) that is located in a region which the Federal Home Loan Bank Board has designated as economically depressed; or (2) if a significant portion of all the loans held by such association are loans to borrowers in such regions or loans secured by real property in such regions. Directs the Board to allow an association which engages in troubled debt restructuring involving only modification of the terms of the original debt instrument, under certain conditions and to the extent consistent with generally accepted accounting principles, to: (1) account for the effects of the debt restructuring prospectively; and (2) continue to account for such association's investment in the original debt instrument in the amount recorded before such restructuring. Requires the Board to prescribe regulations that: (1) require ac…