HR 5544 · 102th Congress · Finance and Financial Sector

Resolution Trust Corporation Cost Reduction Act

Introduced 1992-07-02· Sponsored by Rep. McMillan, J. Alex [R-NC-9]· House

Bill Progress

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Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to the Subcommittee on Financial Institutions Supervision, Regulation and Insurance.(1992-07-15)

Plain Language Summary

[AI summary unavailable — showing source text] Resolution Trust Corporation Cost Reduction Act - Prohibits the Resolution Trust Corporation (RTC) from delaying the closing of any savings association for which it has been appointed conservator or receiver because it lacks the funds to pay off insured deposits at the association. Authorizes the RTC to issue notes to insured depositors for the amount by which their deposit at a savings association in RTC receivership or conservatorship exceeds available RTC financial resources if it lacks sufficient resources to pay its obligations on those deposits.…

Summarized by Claude AI · Non-partisan · For informational purposes only

Cosponsors (1)

1 Republican
Rep. Wylie, Chalmers P. [R-OH-15]OH