HR 5603 · 102th Congress · Finance and Financial Sector
Resolution Trust Corporation Loss Reduction and Funding Act of 1992
Bill Progress
✓
Introduced2
Committee3
House Vote4
Senate5
EnactedLatest: Referred to the Subcommittee on Financial Institutions Supervision, Regulation and Insurance.(1992-08-03)
Plain Language Summary
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Resolution Trust Corporation Loss Reduction and Funding Act of 1992 - Amends the Federal Home Loan Bank Act to direct the Secretary of the Treasury to provide additional funding to the Resolution Trust Corporation (RTC). Declares that the purpose of this Act is to directly reduce the amount of taxpayer funds otherwise required to be appropriated to the RTC by removing the threat of large losses which would accrue in connection with the resolution of savings associations which would be healthy but for the supervisory goodwill acquired by them in transactions with Federal regulatory agencies. Prohibits any court from taking into account the supervisory goodwill buy-back program (established by this Act) when considering litigation between certain savings associations and the United States. Sets guidelines for a supervisory goodwill buy-back program which replaces the supervisory goodwill of a qualified savings association with tangible capital (thus precluding the closing of such institutions). Provides that if a qualified savings association meets all fully phased in capital standards after receiving funds for its goodwill, then such standards will apply to the association. Prescrib…
Summarized by Claude AI · Non-partisan · For informational purposes only