HR 3356 · 102th Congress · Finance and Financial Sector
Resolution Trust Corporation Refinancing Act of 1991
Bill Progress
✓
Introduced2
Committee3
House Vote4
Senate5
EnactedLatest: Referred to the Subcommittee on Financial Institutions Supervision, Regulation and Insurance.(1991-10-01)
Plain Language Summary
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Resolution Trust Corporation Refinancing Act of 1991 - Title I: Resolution Trust Corporation Refinancing - Amends the Federal Home Loan Bank Act to provide additional funding to the RTC to complete the resolution of failed thrifts. Increases the RTC working capital borrowing limit. Amends the Federal Deposit Insurance Act to extend until September 30, 1993, the period during which the Office of Thrift Supervision must appoint the RTC as conservator or receiver of failed thrifts. Title II: Restructuring of the Oversight Board and the Resolution Trust Corporation - Resolution Trust Corporation Restructuring Act of 1991 - Amends the Federal Home Loan Bank Act to limit the accountability of the Oversight Board to performance of its duties under such Act. Revises the composition of the Board. Authorizes the RTC to develop and establish overall goals and policies and authorizes the Board to review and require modification of such goals and policies. Provides for the management of the RTC by its Board of Directors instead of the FDIC. Revises the composition of the RTC Board of Directors. Revises RTC personnel provisions with respect to the use of FDIC employees. Provides for the appointm…
Summarized by Claude AI · Non-partisan · For informational purposes only