HR 5905 · 102th Congress · Finance and Financial Sector

Resolution Trust Corporation Revitalization Act of 1992

Introduced 1992-08-12· Sponsored by Rep. Vento, Bruce F. [D-MN-4]· House

Bill Progress

Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to the Subcommittee on Financial Institutions Supervision, Regulation and Insurance.(1992-09-01)

Plain Language Summary

[AI summary unavailable — showing source text] Resolution Trust Corporation Revitalization Act of 1992 - Title I: Funding - Amends the Federal Home Loan Bank Act to direct the Secretary of the Treasury to provide the Resolution Trust Corporation (RTC) with specified sums for the period between the date of the enactment of the Resolution Trust Corporation Amendments of 1992 and March 31, 1993. Prohibits the RTC, when calculating a certain limitation on borrowing, from counting as borrowed funds those monies received from contributions or from the Treasury. Reduces from $50,000,000,000 to $30,000,000,000 the maximum amount of outstanding RTC obligations. Permits the RTC to borrow only from the Treasury or the Federal Financing Bank. Title II: Institutional Resolution - Requires the RTC, immediately upon its appointment as receiver or conservator of an insured depository institution, to: (1) prepare a detailed description and valuation of each asset acquired; and (2) arrange for the sale of the institution's performing mortgages. Amends the Federal Deposit Insurance Act to repeal the RTC Oversight Board's authority to make certain discretionary payments to the Savings Association Insurance Fund. Amends the Federal Home Bank Act to…

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