Deposit Insurance Reform and Regulatory Modernization Act of 1989

[AI summary unavailable — showing source text] Deposit Insurance Reform and Regulatory Modernization Act of 1989 Title I: Common Management of All Federal Deposit Insurance Funds Established - Federal Deposit Insurance Reform and Simplification Act - Amends the National Housing Act to transfer the management of the Federal Savings and Loan Insurance Corporation (FSLIC) from the Federal Home Loan Bank Board (FHLBB) to the Federal Deposit Insurance Corporation (FDIC). Makes such transfer effective January 1, 1990. Requires the FDIC and the FHLBB to consult with and cooperate with each other in carrying out their respective duties. Specifies that all functions and activities of the FSLIC concerning the regulation of savings and loan holding companies shall be transferred to the FHLBB. Amends the Federal Credit Union Act to transfer the management of the National Credit Union Share Insurance Fund (NCUSIF) from the National Credit Union Administration (NCUA) to the FDIC. Makes such transfer effective January 1, 1990. Requires the FDIC and the NCUA to consult with and cooperate with each other in carrying out their respective duties. Title II: Federal Deposit Insurance Funds Combined; Federal Deposit Insurance Act Amendments - Federa…