HR 3805 · 102th Congress · Finance and Financial Sector
Resolution Trust Corporation Refinancing, Restructuring, and Improvement Act of 1991
Bill Progress
✓
Introduced2
Committee3
House Vote4
Senate5
EnactedLatest: Referred to the Subcommittee on Financial Institutions Supervision, Regulation and Insurance.(1991-11-22)
Plain Language Summary
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Resolution Trust Corporation Refinancing, Restructuring, and Improvement Act of 1991 - Title I: Resolution Trust Corporation Refinancing - Amends the Federal Home Loan Bank Act to provide additional interim funding for the Resolution Trust Corporation (RTC). Amends the Federal Deposit Insurance Act to modify the terms under which the RTC shall be appointed receiver of a failed depository institution by the Director of the Office of Thrift Supervision. Amends the Federal Home Loan Bank Act to extend the receivership duties of the RTC. Title II: Restructuring and Improvement of the Resolution Trust Corporation - Modifies the guidelines for staffing the RTC. Establishes the office of chief executive officer of the RTC to be appointed by the President with the advice and consent of the Senate. Directs the Oversight Board to review overall strategies, policies, and goals established by the RTC for its activities. (Currently the Oversight Board establishes such strategies and goals.) Declares that the RTC shall be managed by its Board of Directors. Outlines the powers of the chief executive officer of the RTC. Title III: Minorities, Women, and Small Business Provisions - Sets forth guide…
Summarized by Claude AI · Non-partisan · For informational purposes only