[Congressional Bills 103th Congress]
[From the U.S. Government Publishing Office]
[S. 714 Enrolled Bill (ENR)]

        S.714
                       One Hundred Third Congress

                                 of the

                        United States of America


                          AT THE FIRST SESSION

          Begun and held at the City of Washington on Tuesday,
  the fifth day of January, one thousand nine hundred and ninety-three


                                 An Act

  
 
  To provide for the remaining funds needed to assure that the United 
States fulfills its obligation for the protection of depositors at 
savings and loan institutions, to improve the management of the 
Resolution Trust Corporation (``RTC'') in order to assure the taxpayers 
the fairest and most efficient disposition of savings and loan assets, 
to provide for a comprehensive transition plan to assure an orderly 
transfer of RTC resources to the Federal Deposit Insurance Corporation, 
to abolish the RTC, and for other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE; TABLE OF CONTENTS.

    (a) Short Title.--This Act may be cited as the ``Resolution Trust 
Corporation Completion Act''.
    (b) Table of Contents.--The table of contents for this Act is as 
follows:
Sec. 1. Short title; table of contents.
Sec. 2. Final funding for RTC.
Sec. 3. RTC management reforms.
Sec. 4. Extension of statute of limitations.
Sec. 5. Limitation on bonuses and compensation paid by the RTC and the 
          Thrift Depositor Protection Oversight Board.
Sec. 6. FDIC--RTC transition task force.
Sec. 7. Amendments relating to the termination of the RTC.
Sec. 8. SAIF funding authorization amendments.
Sec. 9. Moratorium extension.
Sec. 10. Repayment schedule for permanent FDIC borrowing authority.
Sec. 11. Deposit insurance funds.
Sec. 12. Maximum dollar limits for eligible condominium and single 
          family properties under RTC affordable housing program.
Sec. 13. Changes affecting only FDIC affordable housing program.
Sec. 14. Changes affecting both RTC and FDIC affordable housing 
          programs.
Sec. 15. Right of first refusal for tenants to purchase single family 
          property.
Sec. 16. Preference for sales of real property for use for homeless 
          families.
Sec. 17. Preferences for sales of commercial properties to public 
          agencies and nonprofit organizations for use in carrying out 
          programs for affordable housing.
Sec. 18. Federal home loan banks housing opportunity hotline program.
Sec. 19. Conflict of interest provisions applicable to the FDIC.
Sec. 20. Restrictions on sales of assets to certain persons.
Sec. 21. Whistle blower protection.
Sec. 22. FDIC asset disposition division.
Sec. 23. Presidentially appointed inspector general for FDIC.
Sec. 24. Deputy chief executive officer.
Sec. 25. Due process protections relating to attachment of assets.
Sec. 26. GAO studies regarding Federal real property disposition.
Sec. 27. Extension of RTC power to be appointed as conservator or 
          receiver.
Sec. 28. Final report on RTC and SAIF funding.
Sec. 29. General Counsel of the Resolution Trust Corporation.
Sec. 30. Authority to execute contracts.
Sec. 31. RTC contracting.
Sec. 32. Definition of property.
Sec. 33. Sense of the Congress relating to participation of disabled 
          Americans in contracting for delivery of services to financial 
          institution regulatory agencies.
Sec. 34. Report to Congress by Special Counsel.
Sec. 35. Reporting requirements.
Sec. 36. Continuation of conservatorships or receiverships.
Sec. 37. Exceptions for certain transactions.
Sec. 38. Bank deposit financial assistance program.

SEC. 2. FINAL FUNDING FOR RTC.    

    Section 21A(i) of the Federal Home Loan Bank Act (12 U.S.C. 
1441a(i)) is amended--
        (1) in paragraph (3), by striking ``until April 1, 1992''; and
        (2) by adding at the end the following new paragraphs:
        ``(4) Conditions on availability of final funding in excess of 
    $10,000,000,000.--
            ``(A) Certification required.--Of the funds appropriated 
        under paragraph (3) which are provided after April 1, 1993, any 
        amount in excess of $10,000,000,000 shall not be available to 
        the Corporation before the date on which the Secretary of the 
        Treasury certifies to the Congress that, since the date of 
        enactment of the Resolution Trust Corporation Completion Act, 
        the Corporation has taken such action as may be necessary to 
        comply with the requirements of subsection (w) or that, as of 
        the date of the certification, the Corporation is continuing to 
        make adequate progress toward full compliance with such 
        requirements.
            ``(B) Appearance upon request.--The Secretary of the 
        Treasury shall appear before the Committee on Banking, Finance 
        and Urban Affairs of the House of Representatives or the 
        Committee on Banking, Housing, and Urban Affairs of the Senate, 
        upon the request of the chairman of the committee, to report on 
        any certification made to the Congress under subparagraph (A).
        ``(5) Return to treasury.--If the aggregate amount of funds 
    transferred to the Corporation pursuant to this subsection exceeds 
    the amount needed to carry out the purposes of this section or to 
    meet the requirements of section 11(a)(6)(F) of the Federal Deposit 
    Insurance Act, such excess amount shall be deposited in the general 
    fund of the Treasury.
        ``(6) Funds only for depositors.--Notwithstanding any provision 
    of law other than section 13(c)(4)(G) of the Federal Deposit 
    Insurance Act, funds appropriated under this section shall not be 
    used in any manner to benefit any shareholder of--
            ``(A) any insured depository institution for which the 
        Corporation has been appointed conservator or receiver, in 
        connection with any type of resolution by the Corporation;
            ``(B) any other insured depository institution in default or 
        in danger of default, in connection with any type of resolution 
        by the Corporation; or
            ``(C) any insured depository institution, in connection with 
        the provision of assistance under section 11 or 13 of the 
        Federal Deposit Insurance Act with respect to such institution, 
        except that this subparagraph shall not prohibit assistance to 
        any insured depository institution that is not in default, or 
        that is not in danger of default, that is acquiring (as defined 
        in section 13(f)(8)(B) of such Act) another insured depository 
        institution.''.

SEC. 3. RTC MANAGEMENT REFORMS.

    (a) In General.--Section 21A of the Federal Home Loan Bank Act (12 
U.S.C. 1441a) is amended by adding at the end the following new 
subsection:
    ``(w) RTC Management Reforms.--
        ``(1) Comprehensive business plan.--The Corporation shall 
    establish and maintain a comprehensive business plan covering the 
    operations of the Corporation, including the disposition of assets, 
    for the remainder of the Corporation's existence.
        ``(2) Marketing real property on an individual basis.--The 
    Corporation shall--
            ``(A) market any undivided or controlling interest in real 
        property, whether held directly or indirectly by an institution 
        described in subsection (b)(3)(A), on an individual basis, 
        including sales by auction, for no fewer than 120 days before 
        such assets may be made available for sale or other disposition 
        on a portfolio basis or otherwise included in a multiasset sales 
        initiative, except that this subparagraph does not apply to 
        assets that are--
                ``(i) sold simultaneously with a resolution in which a 
            buyer purchases a significant proportion of the assets and 
            assumes a significant proportion of the liabilities, or acts 
            as agent of the Corporation for purposes of paying insured 
            deposits, of an institution described in subsection 
            (b)(3)(A); or
                ``(ii) transferred to a new institution organized 
            pursuant to section 11(d)(2)(F) of the Federal Deposit 
            Insurance Act; and
            ``(B) prescribe regulations--
                ``(i) to require that the sale or other disposition of 
            any asset consisting of real property on a portfolio basis 
            or in connection with any multiasset sales initiative after 
            the end of the 120-day period described in subparagraph (A) 
            be justified in writing; and
                ``(ii) to carry out the requirements of subparagraph 
            (A).
        ``(3) Disposition of real estate related assets.--
            ``(A) Procedures for disposition of real estate-related 
        assets.--The Corporation shall not sell real property or any 
        nonperforming real estate loan which the Corporation has 
        acquired as receiver or conservator, unless--
                ``(i) the Corporation has assigned responsibility for 
            the management and disposition of such asset to a qualified 
            person or entity to--

                    ``(I) analyze each asset on an asset-by-asset basis 
                and consider alternative disposition strategies for such 
                asset;
                    ``(II) develop a written management and disposition 
                plan; and
                    ``(III) implement that plan for a reasonable period 
                of time; or

                ``(ii) the Corporation has made a determination in 
            writing that a bulk transaction would maximize net recovery 
            to the Corporation, while providing opportunity for broad 
            participation by qualified bidders, including minority- and 
            women-owned businesses.
            ``(B) Definitions.--In defining any term for purposes of 
        subparagraph (A), the Corporation may, by regulation, define--
                ``(i) the term `asset' so as to include properties or 
            loans which are legally separate and distinct properties or 
            loans, but which have sufficiently common characteristics 
            such that they may be logically treated as a single asset; 
            and
                ``(ii) the term `qualified person or entity' so as to 
            include any employee of the Thrift Depositor Protection 
            Oversight Board or any employee assigned to the Corporation 
            under subsection (b)(8).
            ``(C) Exceptions.--This paragraph shall not apply to--
                ``(i) assets that are--

                    ``(I) sold simultaneously with a resolution in which 
                a buyer purchases a significant proportion of the assets 
                and assumes a significant proportion of the liabilities 
                (or acts as agent of the Corporation for purposes of 
                paying insured deposits) of an institution described in 
                subsection (b)(3)(A); or
                    ``(II) transferred to a new institution organized 
                pursuant to section 11(d)(2)(F) of the Federal Deposit 
                Insurance Act;

                ``(ii) nonperforming real estate loans with a book value 
            of not more than $1,000,000;
                ``(iii) real property with a book value of not more than 
            $400,000; or
                ``(iv) real property with a book value of more than 
            $400,000 or nonperforming real estate loans with a book 
            value of more than $1,000,000 for which the Corporation 
            determines, in writing, that a disposition not in conformity 
            with the requirements of subparagraph (A) will bring a 
            greater return to the Corporation.
            ``(D) Coordination with paragraph (2).--No provision of this 
        paragraph shall supersede the requirements of paragraph (2).
        ``(4) Division of minorities and women programs.--
            ``(A) In general.--The Corporation shall maintain a division 
        of minorities and women programs.
            ``(B) Vice president.--The head of the division shall be a 
        vice president of the Corporation and a member of the executive 
        committee of the Corporation.
        ``(5) Chief financial officer.--
            ``(A) In general.--The chief executive officer of the 
        Corporation shall appoint a chief financial officer for the 
        Corporation.
            ``(B) Authority.--The chief financial officer of the 
        Corporation shall--
                ``(i) have no operating responsibilities with respect to 
            the Corporation other than as chief financial officer;
                ``(ii) report directly to the chief executive officer of 
            the Corporation; and
                ``(iii) have such authority and duties of chief 
            financial officers of agencies under section 902 of title 
            31, United States Code, as the Thrift Depositor Protection 
            Oversight Board determines to be appropriate with respect to 
            the Corporation.
        ``(6) Basic ordering agreements.--
            ``(A) Revision of procedures.--The Corporation shall revise 
        the procedure for reviewing and qualifying applicants for 
        eligibility for future contracts in a specified service area 
        (commonly referred to as `basic ordering agreements' or `task 
        ordering agreements') in such manner as may be necessary to 
        ensure that small businesses, minorities, and women are not 
        inadvertently excluded from eligibility for such contracts.
            ``(B) Review of lists.--To ensure the maximum participation 
        level possible of minority- and women-owned businesses, the 
        Corporation shall--
                ``(i) review all lists of contractors determined to be 
            eligible for future contracts in a specified service area 
            and other contracting mechanisms; and
                ``(ii) prescribe appropriate regulations and procedures.
        ``(7) Improvement of contracting systems and contractor 
    oversight.--The Corporation shall--
            ``(A) maintain such procedures and uniform standards for--
                ``(i) entering into contracts between the Corporation 
            and private contractors; and
                ``(ii) overseeing the performance of contractors and 
            subcontractors under such contracts and compliance by 
            contractors and subcontractors with the terms of contracts 
            and applicable regulations, orders, policies, and guidelines 
            of the Corporation,
        as may be appropriate in carrying out the Corporation's 
        operations in as efficient and economical a manner as may be 
        practicable;
            ``(B) commit sufficient resources, including personnel, to 
        contract oversight and the enforcement of all laws, regulations, 
        orders, policies, and standards applicable to contracts with the 
        Corporation; and
            ``(C) maintain uniform procurement guidelines for basic 
        goods and administrative services to prevent the acquisition of 
        such goods and services at widely different prices.
        ``(8) Audit committee.--
            ``(A) Establishment.--The Thrift Depositor Protection 
        Oversight Board shall establish and maintain an audit committee.
            ``(B) Duties.--The audit committee shall have the following 
        duties:
                ``(i) Monitor the internal controls of the Corporation.
                ``(ii) Monitor the audit findings and recommendations of 
            the inspector general of the Corporation and the Comptroller 
            General of the United States and the Corporation's response 
            to the findings and recommendations.
                ``(iii) Maintain a close working relationship with the 
            inspector general of the Corporation and the Comptroller 
            General of the United States.
                ``(iv) Regularly report the findings and any 
            recommendation of the audit committee to the Corporation and 
            the Thrift Depositor Protection Oversight Board.
                ``(v) Monitor the financial operations of the 
            Corporation and report any incipient problem identified by 
            the audit committee to the Corporation and the Thrift 
            Depositor Protection Oversight Board.
            ``(C) Federal advisory committee act not applicable.--The 
        audit committee is not an advisory committee within the meaning 
        of section 3(2) of the Federal Advisory Committee Act.
        ``(9) Corrective responses to audit problems.--The Corporation 
    shall--
            ``(A) respond to problems identified by auditors of the 
        Corporation's financial and asset-disposition operations, 
        including problems identified in audit reports by the inspector 
        general of the Corporation, the Comptroller General of the 
        United States, and the audit committee; or
            ``(B) certify to the Thrift Depositor Protection Oversight 
        Board that no action is necessary or appropriate.
        ``(10) Assistant general counsel for professional liability.--
            ``(A) Appointment.--The Corporation shall appoint, within 
        the division of legal services of the Corporation, an assistant 
        general counsel for professional liability.
            ``(B) Duties.--The assistant general counsel for 
        professional liability shall--
                ``(i) direct the investigation, evaluation, and 
            prosecution of all professional liability claims involving 
            the Corporation; and
                ``(ii) supervise all legal, investigative, and other 
            personnel and contractors involved in the litigation of such 
            claims.
            ``(C) Semiannual reports to the congress.--The assistant 
        general counsel for professional liability shall submit to the 
        Congress a comprehensive litigation report, not later than--
                ``(i) April 30 of each year for the 6-month period 
            ending on March 31 of that year; and
                ``(ii) October 31 of each year for the 6-month period 
            ending on September 30 of that year.
            ``(D) Contents of reports.--The semiannual reports required 
        under subparagraph (C) shall each address the activities of the 
        counsel for professional liability under subparagraph (B) and 
        all civil actions--
                ``(i) in which the Corporation is a party, which are 
            filed against--

                    ``(I) directors or officers of depository 
                institutions described in subsection (b)(3)(A); or
                    ``(II) attorneys, accountants, appraisers, or other 
                licensed professionals who performed professional 
                services for such depository institutions; and

                ``(ii) which are initiated or pending during the period 
            covered by the report.
        ``(11) Management information system.--The Corporation shall 
    maintain an effective management information system capable of 
    providing complete and current information to the extent the 
    provision of such information is appropriate and cost-effective.
        ``(12) Internal controls against fraud, waste, and abuse.--The 
    Corporation shall maintain effective internal controls designed to 
    prevent fraud, waste, and abuse, identify any such activity should 
    it occur, and promptly correct any such activity.
        ``(13) Failure to appoint certain officers of the corporation.--
    The failure to fill any position established under this section or 
    any vacancy in any such position, shall be treated as a failure to 
    comply with the requirements of this subsection for purposes of 
    subsection (i)(4).
        ``(14) Reports.--
            ``(A) Disclosure of expenditures.--The Corporation shall 
        include in the annual report submitted pursuant to subsection 
        (k)(4) an itemization of the expenditures of the Corporation 
        during the year for which funds provided pursuant to subsection 
        (i)(3) were used.
            ``(B) Public disclosure of salaries.--The Corporation shall 
        include in the annual report submitted pursuant to subsection 
        (k)(4) a disclosure of the salaries and other compensation paid 
        during the year covered by the report to directors and senior 
        executive officers at any depository institution for which the 
        Corporation has been appointed conservator or receiver.
        ``(15) Minority- and women-owned businesses contract parity 
    guidelines.--The Corporation shall establish guidelines for 
    achieving the goal of a reasonably even distribution of contracts 
    awarded to the various subgroups of the class of minority- and 
    women-owned businesses and minority-   and women-owned law firms 
    whose total number of certified contractors comprise not less than 5 
    percent of all minority- and women-owned certified contractors. The 
    guidelines may reflect the regional and local geographic 
    distributions of minority subgroups. The distribution of contracts 
    should not be accomplished at the expense of any eligible minority- 
    or women-owned business or law firm in any subgroup that falls below 
    the 5 percent threshold in any region or locality.
        ``(16) Contract sanctions for failure to comply with subcontract 
    and joint venture requirements.--The Corporation shall prescribe 
    regulations which provide sanctions, including contract penalties 
    and suspensions, for violations by contractors of requirements 
    relating to subcontractors and joint ventures.
        ``(17) Minority preference in acquisition of institutions in 
    predominantly minority neighborhoods.--
            ``(A) In general.--In considering offers to acquire any 
        insured depository institution, or any branch of an insured 
        depository institution, located in a predominantly minority 
        neighborhood (as defined in regulations prescribed under 
        subsection (s)), the Corporation shall give preference to an 
        offer from any minority individual, minority-owned business, or 
        a minority depository institution, over any other offer that 
        results in the same cost to the Corporation, as determined under 
        section 13(c)(4) of the Federal Deposit Insurance Act.
            ``(B) Capital Assistance.--
                ``(i) Eligibility.--In order to effectuate the purposes 
            of this paragraph, any minority individual, minority-owned 
            business, or a minority depository institution shall be 
            eligible for capital assistance under the minority interim 
            capital assistance program established under subsection 
            (u)(1) and subject to the provisions of subsection (u)(3), 
            to the extent that such assistance is consistent with the 
            application of section 13(c)(4) of the Federal Deposit 
            Insurance Act.
                ``(ii) Terms and conditions.--Subsection (u)(4) shall 
            not apply to capital assistance provided under this 
            subparagraph.
            ``(C) Performing assets.--In the case of an acquisition of 
        any depository institution or branch described in subparagraph 
        (A) by any minority individual, minority-owned business, or a 
        minority depository institution, the Corporation may provide, in 
        connection with such acquisition and in addition to performing 
        assets of the depository institution or branch, other performing 
        assets under the control of the Corporation in an amount (as 
        determined on the basis of the Corporation's estimate of the 
        fair market value of the assets) not greater than the amount of 
        net liabilities carried on the books of the institution or 
        branch, including deposits, which are assumed in connection with 
        the acquisition.
            ``(D) First priority for disposition of assets.--In the case 
        of an acquisition of any depository institution or branch 
        described in subparagraph (A) by any minority individual, 
        minority-owned business, or a minority depository institution, 
        the disposition of the performing assets of the depository 
        institution or branch to such individual, business, or minority 
        depository institution shall have a first priority over the 
        disposition by the Corporation of such assets for any other 
        purpose.
            ``(E) Definitions.--For purposes of this paragraph, the 
        following definitions shall apply:
                ``(i) Acquire.--The term `acquire' has the same meaning 
            as in section 13(f)(8)(B) of the Federal Deposit Insurance 
            Act.
                ``(ii) Minority.--The term `minority' has the same 
            meaning as in section 1204(c)(3) of the Financial 
            Institutions Reform, Recovery, and Enforcement Act of 1989.
                ``(iii) Minority depository institution.--The term 
            `minority depository institution' has the same meaning as in 
            subsection (s)(2).
                ``(iv) Minority-owned business.--The term `minority-
            owned business' has the same meaning as in subsection 
            (r)(4).
        ``(18) Subcontracts with minority- and women-owned businesses.--
            ``(A) Goals and procedures.--
                ``(i) Reasonable goals.--The Corporation shall establish 
            reasonable goals for contractors for services with the 
            Corporation to subcontract with minority- and women-owned 
            businesses and law firms.
                ``(ii) Procedures.--The Corporation may not enter into 
            any contract for the provision of services to the 
            Corporation, including legal services, under which the 
            contractor would receive fees or other compensation in an 
            amount equal to or greater than $500,000, unless the 
            Corporation requires the contractor to subcontract with 
            minority- or women-owned businesses, including law firms, 
            and to pay fees or other compensation to such businesses in 
            an amount commensurate with the percentage of services 
            provided by the business.
                ``(iii) Exceptions.--The Corporation may exclude a 
            contract from the requirements of clause (ii) if the Chief 
            Executive Officer of the Corporation determines in writing 
            that imposing such a subcontracting requirement would--

                    ``(I) substantially increase the cost of contract 
                performance; or
                    ``(II) undermine the ability of the contractor to 
                perform its obligations under the contract.

            ``(B) Limited waiver authority.--
                ``(i) In general.--The Corporation may grant a waiver 
            from the application of this paragraph to any contractor 
            with respect to a contract described in subparagraph 
            (A)(ii), if the contractor certifies to the Corporation that 
            it has determined that no eligible minority- or women-owned 
            business is available to enter into a subcontract (with 
            respect to such contract) and provides an explanation of the 
            basis for such determination.
                ``(ii) Waiver procedures.--Any determination to grant a 
            waiver under clause (i) shall be made in writing by the 
            Chief Executive Officer of the Corporation.
            ``(C) Report.--Each quarterly report submitted by the 
        Corporation pursuant to subsection (k)(7) shall contain a 
        description of each exception granted under subparagraph 
        (A)(iii) and each waiver granted under subparagraph (B) during 
        the quarter covered by the report.
            ``(D) Definitions.--For purposes of this paragraph, the 
        following definitions shall apply:
                ``(i) Minority.--The term `minority' has the same 
            meaning as in section 1204(c)(3) of the Financial 
            Institutions Reform, Recovery, and Enforcement Act of 1989.
                ``(ii) Minority- and women-owned business.--The terms 
            `minority-owned business' and `women-owned business' have 
            the same meanings as in subsection (r)(4).
        ``(19) Contracting procedures.--
            ``(A) Procedures.--In awarding any contract subject to the 
        competitive bidding process, the Corporation shall apply 
        competitive bidding procedures that are no less stringent than 
        those in effect on the date of the enactment of the Resolution 
        Trust Corporation Completion Act.
            ``(B) Cost to taxpayer.--Nothing in this Act, or any other 
        provision of law, shall supersede the Corporation's primary duty 
        of minimizing costs to the taxpayer and maximizing the total 
        return to the Government.
        ``(20) Management of legal services.--To improve the management 
    of legal services, the Corporation--
            ``(A) shall utilize staff counsel when such utilization 
        would provide the same level of quality in legal services as the 
        use of outside counsel at the same or a lower estimated cost; 
        and
            ``(B) may only employ outside counsel--
                ``(i) if the use of outside counsel would provide the 
            most practicable, efficient, and cost-effective resolution 
            to the action; and
                ``(ii) under a negotiated fee, contingent fee, or 
            competitively bid fee agreement.
        ``(21) Client responsiveness units.--The Corporation shall 
    ensure that every regional office of the Corporation contains a 
    client responsiveness unit responsible to the Corporation's 
    ombudsman.''.
    (b) Borrower Appeals.--Section 21A(b)(4) of the Federal Home Loan 
Bank Act (12 U.S.C. 1441a(b)(4)) is amended by adding at the end the 
following new subparagraph:
            ``(C) Appeals.--The Corporation shall implement and maintain 
        a program, in a manner acceptable to the Thrift Depositor 
        Protection Oversight Board, to provide an appeals process for 
        business and commercial borrowers to appeal decisions by the 
        Corporation (when acting as a conservator) which would have the 
        effect of terminating or otherwise adversely affecting credit or 
        loan agreements, lines of credit, and similar arrangements with 
        such borrowers who have not defaulted on their obligations.''.
    (c) GAO Study of Progress of Implementation of Reforms.--
        (1) Study required.--The Comptroller General of the United 
    States shall conduct a study of the manner in which the reforms 
    required pursuant to the amendment made by subsection (a) are being 
    implemented by the Resolution Trust Corporation and the progress 
    being made by the Corporation toward the achievement of full 
    compliance with such requirements.
        (2) Interim report to congress.--Not later than 6 months after 
    the date of enactment of this Act, the Comptroller General of the 
    United States shall submit an interim report to the Congress 
    containing the preliminary findings of the Comptroller General in 
    connection with the study required under paragraph (1).
        (3) Final report to congress.--Not later than 1 year after the 
    date of enactment of this Act, the Comptroller General of the United 
    States shall submit a report to the Congress containing--
            (A) the findings of the Comptroller General in connection 
        with the study required under paragraph (1); and
            (B) such recommendations for legislative and administrative 
        action as the Comptroller General may determine to be 
        appropriate.
        (4) Disclosure of performing asset transfers.--
            (A) Report required.--The Comptroller General of the United 
        States shall submit an annual report to the Congress on 
        transfers of performing assets by the Corporation, categorized 
        by institution, to any acquirer during the year covered by the 
        report.
            (B) Contents.--Each report submitted under subparagraph (A) 
        shall contain--
                (i) the number and a description of asset transfers 
            during the year covered by the report;
                (ii) the number of assets provided in connection with 
            each transaction during such year; and
                (iii) a report of an audit by the Comptroller General of 
            the determination of the Corporation of the fair market 
            value of transferred assets at the time of transfer.
    (d) Utilization of Services.--Section 11(d)(2)(K) of the Federal 
Deposit Insurance Act (12 U.S.C. 1821(d)(2)(K)) is amended--
        (1) by inserting ``legal,'' after ``auction marketing,'';
        (2) by striking ``if'' and inserting ``only if''; and
        (3) by striking ``practicable'' and inserting ``the most 
    practicable''.
    (e) RTC Notice to GSA.--
        (1) In general.--Within a reasonable period of time after 
    acquiring an undivided or controlling interest in any commercial 
    office property in its capacity as conservator or receiver, the 
    Corporation shall notify the Administrator of General Services of 
    such acquisition.
        (2) Contents of notice.--The notice required under paragraph (1) 
    shall contain basic information about the property, including--
            (A) the location and condition of the property;
            (B) information relating to the estimated fair market value 
        of the property; and
            (C) the Corporation's schedule, or estimate of the schedule, 
        for marketing and disposing of the property.
        (3) Competitive bidding.--The Administrator of General Services, 
    in compliance with regulations of the Resolution Trust Corporation, 
    may bid on property described in the notice required under paragraph 
    (1) that is otherwise subject to competitive bidding.

SEC. 4. EXTENSION OF STATUTE OF LIMITATIONS.

    (a) In General.--Section 21A(b) of the Federal Home Loan Bank Act 
(12 U.S.C. 1441a(b)) is amended by adding at the end the following new 
paragraph:
        ``(14) Extension of statute of limitations.--
            ``(A) Tort actions for which the prior limitation has run.--
                ``(i) In general.--In the case of any tort claim--

                    ``(I) which is described in clause (ii); and
                    ``(II) for which the applicable statute of 
                limitations under section 11(d)(14)(A)(ii) of the 
                Federal Deposit Insurance Act has expired before the 
                date of enactment of the Resolution Trust Corporation 
                Completion Act;

            the statute of limitations which shall apply to an action 
            brought on such claim by the Corporation in the 
            Corporation's capacity as conservator or receiver of an 
            institution described in paragraph (3)(A) shall be the 
            period determined under subparagraph (C).
                ``(ii) Claims described.--A tort claim referred to in 
            clause (i)(I) with respect to an institution described in 
            paragraph (3)(A) is a claim arising from fraud, intentional 
            misconduct resulting in unjust enrichment, or intentional 
            misconduct resulting in substantial loss to the institution.
            ``(B) Tort actions for which the prior limitation has not 
        run.--
                ``(i) In general.--Notwithstanding section 11(d)(14)(A) 
            of the Federal Deposit Insurance Act, in the case of any 
            tort claim--

                    ``(I) which is described in clause (ii); and
                    ``(II) for which the applicable statute of 
                limitations under section 11(d)(14)(A)(ii) of the 
                Federal Deposit Insurance Act has not expired as of the 
                date of enactment of the Resolution Trust Corporation 
                Completion Act;

            the statute of limitations which shall apply to an action 
            brought on such claim by the Corporation in the 
            Corporation's capacity as conservator or receiver of an 
            institution described in paragraph (3)(A) shall be the 
            period determined under subparagraph (C).
                ``(ii) Claims described.--A tort claim referred to in 
            clause (i)(I) with respect to an institution described in 
            paragraph (3)(A) is a claim arising from gross negligence or 
            conduct that demonstrates a greater disregard of a duty of 
            care than gross negligence, including intentional tortious 
            conduct relating to the institution.
            ``(C) Determination of period.--The period determined under 
        this subparagraph for any claim to which subparagraph (A) or (B) 
        applies shall be the longer of--
                ``(i) the 5-year period beginning on the date the claim 
            accrues (as determined pursuant to section 11(d)(14)(B) of 
            the Federal Deposit Insurance Act); or
                ``(ii) the period applicable under State law for such 
            claim.
            ``(D) Scope of application.--Subparagraphs (A) and (B) shall 
        not apply to any action which is brought after the date of the 
        termination of the Corporation under subsection (m)(1).''.
    (b) Technical and Conforming Amendment.--Section 11(d)(14)(A)(ii) of 
the Federal Deposit Insurance Act (12 U.S.C. 1821(d)(14)(A)(ii)) is 
amended by inserting ``(other than a claim which is subject to section 
21A(b)(14) of the Federal Home Loan Bank Act)'' after ``any tort 
claim''.

SEC. 5. LIMITATION ON BONUSES AND COMPENSATION PAID BY THE RTC AND THE 
              THRIFT DEPOSITOR PROTECTION OVERSIGHT BOARD.

    (a) In General.--Section 21A of the Federal Home Loan Bank Act (12 
U.S.C. 1441a) is amended by adding after subsection (w) (as added by 
section 3(a) of this Act) the following new subsection:
    ``(x) Limitation on Excessive Compensation and Cash Awards.--
        ``(1) Establishment of performance appraisal system required.--
    The Corporation shall be treated as an agency for purposes of 
    sections 4302 and 4304 of title 5, United States Code.
        ``(2) Procedures for payment of cash awards.--
            ``(A) In general.--Sections 4502, 4503, and 4505a of title 
        5, United States Code, shall apply with respect to the 
        Corporation.
            ``(B) Limitation on amount of cash awards.--For purposes of 
        determining the amount of any performance-based cash award 
        payable to any employee of the Corporation under section 4505a 
        of title 5, United States Code, the amount of basic pay of the 
        employee which may be taken into account under such section 
        shall not exceed the amount which is equal to the annual rate of 
        basic pay payable for level I of the Executive Schedule.
        ``(3) All other cash awards and bonuses prohibited.--Except as 
    provided in paragraph (2), no cash award or bonus may be made to any 
    employee of the Corporation.
        ``(4) Limitations on cash awards and bonuses.--No employee shall 
    receive any cash award or bonus if such employee has given notice of 
    an intent to resign to take a position in the private sector before 
    the payment of such cash award or bonus or accepts employment in the 
    private sector not later than 60 days after receipt of such award or 
    bonus.
        ``(5) Limitation on excessive compensation.--Except as provided 
    in paragraphs (6) and (7), no employee may receive a total amount of 
    allowances, benefits, basic pay, and other compensation, including 
    bonuses and other awards, in excess of the total amount of 
    allowances, benefits, basic pay, and other compensation, including 
    bonuses and other awards, which are provided to the chief executive 
    officer of the Corporation.
        ``(6) No reduction in rate of pay.--The annual rate of basic pay 
    and benefits, including any regional pay differential, payable to 
    any employee who was an employee as of the date of enactment of the 
    Resolution Trust Corporation Completion Act for any year ending 
    after such date of enactment shall not be reduced, by reason of 
    paragraph (5), below the annual rate of basic pay and benefits, 
    including any regional pay differential, paid to such employee, by 
    reason of such employment, as of such date.
        ``(7) Employees serving in acting or temporary capacity.--In the 
    case of any employee who, as of the date of enactment of the 
    Resolution Trust Corporation Completion Act, is serving in an acting 
    capacity or is otherwise temporarily employed at a higher grade than 
    such employee's regular grade or position of employment--
            ``(A) the annual rate of basic pay and benefits, including 
        any regional pay differential, payable to such employee in such 
        capacity or at such higher grade shall not be reduced by reason 
        of paragraph (5) so long as such employee continues to serve in 
        such capacity or at such higher grade; and
            ``(B) after such employee ceases to serve in such capacity 
        or at such higher grade, paragraph (6) shall be applied with 
        respect to such employee by taking into account only the annual 
        rate of basic pay and benefits, including any regional pay 
        differential, payable to such employee in such employee's 
        regular grade or position of employment.
        ``(8) Definitions.--
            ``(A) Allowances.--For purposes of paragraph (5), the term 
        `allowances' does not include any allowance for travel and 
        subsistence expenses incurred by an employee while away from 
        home or designated post of duty on official business.
            ``(B) Employee.--For purposes of this subsection and 
        sections 4302, 4502, 4503, and 4505a of title 5, United States 
        Code (as applicable with respect to this subsection), the term 
        `employee' includes any officer or employee assigned to the 
        Corporation under subsection (b)(8) and any officer or employee 
        of the Thrift Depositor Protection Oversight Board.''.
    (b) Technical and Conforming Amendments.--
        (1) Amendment to title 5.--Section 5314 of title 5, United 
    States Code, is amended by striking the following item:
        ``chief executive officer of the Resolution Trust 
    Corporation.''.
        (2) Federal home loan bank act amendment.--Section 21A(a)(6) of 
    the Federal Home Loan Bank Act (12 U.S.C. 1441a(a)(6)) is amended by 
    adding at the end the following new subparagraph:
            ``(K) To establish the rate of basic pay, benefits, and 
        other compensation for the chief executive officer of the 
        Corporation.''.

SEC. 6. FDIC--RTC TRANSITION TASK FORCE.

    (a) Establishment Required.--The Federal Deposit Insurance 
Corporation and the Resolution Trust Corporation shall establish an 
interagency transition task force. The task force shall facilitate the 
transfer of the assets, personnel, and operations of the Resolution 
Trust Corporation to the Federal Deposit Insurance Corporation or the 
FSLIC Resolution Fund, as the case may be, in a coordinated manner.
    (b) Members.--
        (1) In general.--The transition task force shall consist of such 
    number of officers and employees of the Federal Deposit Insurance 
    Corporation and the Resolution Trust Corporation as the Chairperson 
    of the Board of Directors of the Federal Deposit Insurance 
    Corporation and the chief executive officer of the Resolution Trust 
    Corporation may jointly determine to be appropriate.
        (2) Appointment.--The Chairperson of the Board of Directors of 
    the Federal Deposit Insurance Corporation and the chief executive 
    officer of the Resolution Trust Corporation shall appoint the 
    members of the transition task force.
        (3) No additional pay.--Members of the transition task force 
    shall receive no additional pay, allowances, or benefits by reason 
    of their service on the task force.
    (c) Duties.--The transition task force shall have the following 
duties:
        (1) Examine the operations of the Federal Deposit Insurance 
    Corporation and the Resolution Trust Corporation to identify, 
    evaluate, and resolve differences in the operations of the 
    corporations to facilitate an orderly merger of such operations.
        (2) Recommend which of the management, resolution, or asset 
    disposition systems of the Resolution Trust Corporation should be 
    preserved for use by the Federal Deposit Insurance Corporation.
        (3) Recommend procedures to be followed by the Federal Deposit 
    Insurance Corporation and the Resolution Trust Corporation in 
    connection with the transition which will promote--
            (A) coordination between the corporations before the 
        termination of the Resolution Trust Corporation; and
            (B) an orderly transfer of assets, personnel, and 
        operations.
        (4) Evaluate the management enhancement goals applicable to the 
    Resolution Trust Corporation under section 21A(p) of the Federal 
    Home Loan Bank Act and recommend which of such goals should apply to 
    the Federal Deposit Insurance Corporation.
        (5) Evaluate the management reforms applicable to the Resolution 
    Trust Corporation under section 21A(w) of the Federal Home Loan Bank 
    Act and recommend which of such reforms should apply to the Federal 
    Deposit Insurance Corporation.
    (d) Reports to Banking Committees.--
        (1) Reports required.--The transition task force shall submit a 
    report to the Committee on Banking, Finance and Urban Affairs of the 
    House of Representatives and the Committee on Banking, Housing, and 
    Urban Affairs of the Senate not later than January 1, 1995, and a 
    second report not later than July 1, 1995, on the progress made by 
    the transition task force in meeting the requirements of this 
    section.
        (2) Contents of report.--The reports required to be submitted 
    under paragraph (1) shall contain the findings and recommendations 
    made by the transition task force in carrying out the duties of the 
    task force under subsection (c) and such recommendations for 
    legislative and administrative action as the task force may 
    determine to be appropriate.
    (e) Followup Report by FDIC.--Not later than January 1, 1996, the 
Federal Deposit Insurance Corporation shall submit a report to the 
Committee on Banking, Finance and Urban Affairs of the House of 
Representatives and the Committee on Banking, Housing, and Urban Affairs 
of the Senate containing--
        (1) a description of the recommendations of the transition task 
    force which have been adopted by the Corporation;
        (2) a description of the recommendations of the transition task 
    force which have not been adopted by the Corporation;
        (3) a detailed explanation of the reasons why the Corporation 
    did not adopt each recommendation described in paragraph (2); and
        (4) a description of the actions taken by the Corporation to 
    comply with section 21A(m)(3) of the Federal Home Loan Bank Act.

SEC. 7. AMENDMENTS RELATING TO THE TERMINATION OF THE RTC.

    (a) Amendment Relating to Transfer of Personnel and Systems.--
Section 21A(m) of the Federal Home Loan Bank Act (12 U.S.C. 1441a(m)) is 
amended by adding at the end the following new paragraph:
        ``(3) Transfer of personnel and systems.--In connection with the 
    assumption by the Federal Deposit Insurance Corporation of 
    conservatorship and receivership functions with respect to 
    institutions described in subsection (b)(3)(A) and the termination 
    of the Corporation pursuant to paragraph (1)--
            ``(A) any management, resolution, or asset-disposition 
        system of the Corporation which the Secretary of the Treasury 
        determines, after considering the recommendations of the 
        interagency transition task force under section 6(c) of the 
        Resolution Trust Corporation Completion Act, has been of benefit 
        to the operations of the Corporation (including any personal 
        property of the Corporation which is used in operating any such 
        system) shall, notwithstanding paragraph (2), be transferred to 
        and used by the Federal Deposit Insurance Corporation in a 
        manner which preserves the integrity of the system for so long 
        as such system is efficient and cost-effective; and
            ``(B) any personnel of the Corporation involved with any 
        such system who are otherwise eligible to be transferred to the 
        Federal Deposit Insurance Corporation shall be transferred to 
        the Federal Deposit Insurance Corporation for continued 
        employment, subject to section 404(9) of the Financial 
        Institutions Reform, Recovery, and Enforcement Act of 1989 and 
        other applicable provisions of this section, with respect to 
        such system.''.
    (b) Amendment Relating to Date of Termination.--Section 21A(m)(1) of 
the Federal Home Loan Bank Act (12 U.S.C. 1441a(m)(1)) is amended by 
striking ``December 31, 1996'' and inserting ``December 31, 1995''.

SEC. 8. SAIF FUNDING AUTHORIZATION AMENDMENTS.

    (a) Amendment to SAIF Funding Provision.--Section 11(a)(6)(D) of the 
Federal Deposit Insurance Act (12 U.S.C. 1821(a)(6)(D)) is amended to 
read as follows:
            ``(D) Treasury payments to fund.--To the extent of the 
        availability of amounts provided in appropriation Acts and 
        subject to subparagraphs (E) and (G), the Secretary of the 
        Treasury shall pay to the Savings Association Insurance Fund 
        such amounts as may be needed to pay losses incurred by the Fund 
        in fiscal years 1994 through 1998.''.
    (b) Certification of Need for Funds and Other Conditions on SAIF 
Funding.--Section 11(a)(6)(E) of the Federal Deposit Insurance Act (12 
U.S.C. 1821(a)(6)(E)) is amended to read as follows:
            ``(E) Certification conditions on availability of funding.--
        No amount appropriated for payments by the Secretary of the 
        Treasury in accordance with subparagraph (D) for any fiscal year 
        may be expended unless the Chairperson of the Board of Directors 
        certifies to the Congress, at any time before the beginning of 
        or during such fiscal year, that--
                ``(i) such amount is needed to pay for losses which have 
            been incurred or can reasonably be expected to be incurred 
            by the Savings Association Insurance Fund;
                ``(ii) the Board of Directors has determined that--

                    ``(I) Savings Association Insurance Fund members, in 
                the aggregate, are unable to pay additional semiannual 
                assessments under section 7(b) at the assessment rates 
                which would be required in order to cover, from such 
                additional assessments, losses which have been incurred 
                or can reasonably be expected to be incurred by the Fund 
                without adversely affecting the ability of such members 
                to raise and maintain capital or to maintain the 
                members' assessment base; and
                    ``(II) an increase in the assessment rates for 
                Savings Association Insurance Fund members to cover such 
                losses could reasonably be expected to result in greater 
                losses to the Government;

                ``(iii) the Board of Directors has determined that--

                    ``(I) Savings Association Insurance Fund members, in 
                the aggregate, are unable to pay additional semiannual 
                assessments under section 7(b) at the assessment rates 
                which would be required in order to meet the repayment 
                schedule required under section 14(c) for any amount 
                borrowed under section 14(a) to cover losses which have 
                been incurred or can reasonably be expected to be 
                incurred by the Fund without adversely affecting the 
                ability of such members to raise and maintain capital or 
                to maintain the members' assessment base; and
                    ``(II) an increase in the assessment rates for 
                Savings Association Insurance Fund members to meet any 
                such repayment schedule could reasonably be expected to 
                result in greater losses to the Government;

                ``(iv) as of the date of certification, the Corporation 
            has in effect procedures designed to ensure that the 
            activities of the Savings Association Insurance Fund and the 
            affairs of any Savings Association Insurance Fund member for 
            which a conservator or receiver has been appointed are 
            conducted in an efficient manner and the Corporation is in 
            compliance with such procedures;
                ``(v) with respect to the most recent audit of the 
            Savings Association Insurance Fund by the Comptroller 
            General of the United States before the date of the 
            certification--

                    ``(I) the Corporation has taken or is taking 
                appropriate action to implement any recommendation made 
                by the Comptroller General; or
                    ``(II) no corrective action is necessary or 
                appropriate;

                ``(vi) the Corporation has provided for the appointment 
            of a chief financial officer who--

                    ``(I) does not have other operating 
                responsibilities;
                    ``(II) will report directly to the Chairperson of 
                the Corporation; and
                    ``(III) will have such authority and duties of chief 
                financial officers under section 902 of title 31, United 
                States Code, as the Board of Directors of the 
                Corporation determines to be appropriate with respect to 
                the Corporation;

                ``(vii) the Corporation has provided for the appointment 
            of a senior officer whose responsibilities shall include 
            setting uniform standards for contracting and contracting 
            enforcement in connection with the administration of the 
            Fund;
                ``(viii) the Corporation is implementing the minority 
            outreach provisions mandated by section 1216 of the 
            Financial Institutions Reform, Recovery, and Enforcement Act 
            of 1989;
                ``(ix) the Corporation has provided for the appointment 
            of a senior attorney, at the assistant general counsel level 
            or above, responsible for professional liability cases; and
                ``(x) the Corporation has improved the management of 
            legal services by--

                    ``(I) utilizing staff counsel when such utilization 
                would provide the same level of quality in legal 
                services as the use of outside counsel at the same or a 
                lower estimated cost; and
                    ``(II) employing outside counsel only if the use of 
                outside counsel would provide the most practicable, 
                efficient, and cost-effective resolution to the action 
                and only under a negotiated fee, contingent fee, or 
                competitively bid fee agreement.''.

    (c) Availability of Unexpended RTC Funding for SAIF.--Section 
11(a)(6)(F) of the Federal Deposit Insurance Act (12 U.S.C. 
1821(a)(6)(F)) is amended to read as follows:
            ``(F) Availability of rtc funding.--At any time before the 
        end of the 2-year period beginning on the date of the 
        termination of the Resolution Trust Corporation, the Secretary 
        of the Treasury shall provide, out of funds appropriated to the 
        Resolution Trust Corporation pursuant to section 21A(i)(3) of 
        the Federal Home Loan Bank Act and not expended by the 
        Resolution Trust Corporation, to the Savings Association 
        Insurance Fund, for any year such amounts as are needed by the 
        Fund and are not needed by the Resolution Trust Corporation, if 
        the Chairperson of the Board of Directors has certified to the 
        Congress that--
                ``(i) such amount is needed to pay for losses which have 
            been incurred or can reasonably be expected to be incurred 
            by the Savings Association Insurance Fund;
                ``(ii) the Board of Directors has determined that--

                    ``(I) Savings Association Insurance Fund members, in 
                the aggregate, are unable to pay additional semiannual 
                assessments under section 7(b) at the assessment rates 
                which would be required in order to cover, from such 
                additional assessments, losses which have been incurred 
                or can reasonably be expected to be incurred by the 
                Savings Association Insurance Fund without adversely 
                affecting the ability of such members to raise and 
                maintain capital or to maintain the members' assessment 
                base; and
                    ``(II) an increase in the assessment rates for 
                Savings Association Insurance Fund members to cover such 
                losses could reasonably be expected to result in greater 
                losses to the Government;

                ``(iii) the Board of Directors has determined that--

                    ``(I) Savings Association Insurance Fund members, in 
                the aggregate, are unable to pay additional semiannual 
                assessments under section 7(b) at the assessment rates 
                which would be required in order to meet the repayment 
                schedule required under section 14(c) for any amount 
                borrowed under section 14(a) to cover losses which have 
                been incurred or can reasonably be expected to be 
                incurred by the Savings Association Insurance Fund 
                without adversely affecting the ability of such members 
                to raise and maintain capital or to maintain such 
                members' assessment base; and
                    ``(II) an increase in the assessment rates for 
                Savings Association Insurance Fund members to meet any 
                such repayment schedule could reasonably be expected to 
                result in greater losses to the Government;

                ``(iv) the Corporation has provided for the appointment 
            of a chief financial officer who--

                    ``(I) does not have other operating 
                responsibilities;
                    ``(II) will report directly to the Chairperson of 
                the Corporation; and
                    ``(III) will have such authority and duties of chief 
                financial officers under section 902 of title 31, United 
                States Code, as the Board of Directors of the 
                Corporation determines to be appropriate with respect to 
                the Corporation;

                ``(v) the Corporation has provided for the appointment 
            of a senior officer whose responsibilities shall include 
            setting uniform standards for contracting and contracting 
            enforcement in connection with the administration of the 
            Fund;
                ``(vi) the Corporation is implementing the minority 
            outreach provisions mandated by section 1216 of the 
            Financial Institutions Reform, Recovery, and Enforcement Act 
            of 1989;
                ``(vii) the Corporation has provided for the appointment 
            of a senior attorney, at the assistant general counsel level 
            or above, responsible for professional liability cases; and
                ``(viii) the Corporation has improved the management of 
            legal services by--

                    ``(I) utilizing staff counsel when such utilization 
                would provide the same level of quality in legal 
                services as the use of outside counsel at the same or a 
                lower estimated cost; and
                    ``(II) employing outside counsel only if the use of 
                outside counsel would provide the most practicable, 
                efficient, and cost-effective resolution to the action 
                and only under a negotiated fee, contingent fee, or 
                competitively bid fee agreement.''.

    (d) Appearances Before the Banking Committees.--Section 11(a)(6)(H) 
of the Federal Deposit Insurance Act (12 U.S.C. 1821(a)(6)(H)) is 
amended to read as follows:
            ``(H) Appearance upon request.--The Secretary of the 
        Treasury and the Chairperson of the Board of Directors of the 
        Federal Deposit Insurance Corporation shall appear before the 
        Committee on Banking, Finance and Urban Affairs of the House of 
        Representatives or the Committee on Banking, Housing, and Urban 
        Affairs of the Senate, upon the request of the chairman of the 
        committee, to report on any certification made to the Congress 
        under subparagraph (E) or (F).''.
    (e) Amendments to Authorization of Appropriation.--Section 
11(a)(6)(J) of the Federal Deposit Insurance Act (12 U.S.C. 
1821(a)(6)(J)) is amended--
        (1) by striking ``There are'' and inserting ``Subject to 
    subparagraph (E), there are''; and
        (2) by striking ``of this paragraph, except'' and all that 
    follows through the period and inserting the following: ``of 
    subparagraph (D) for fiscal years 1994 through 1998, except that the 
    aggregate amount appropriated pursuant to this authorization may not 
    exceed $8,000,000,000.''.
    (f) Return of Transferred and Unexpended Amounts to Treasury.--
Section 11(a)(6) of the Federal Deposit Insurance Act (12 U.S.C. 
1821(a)(6)) is amended by adding at the end the following new 
subparagraph:
            ``(K) Return to treasury.--If the aggregate amount of funds 
        transferred to the Savings Association Insurance Fund under 
        subparagraph (D) or (F) exceeds the amount needed to cover 
        losses incurred by the Fund, such excess amount shall be 
        deposited in the general fund of the Treasury.''.
    (g) GAOReport.--Not later than 60 days after receipt of any 
certification submitted pursuant to subparagraph (E) or (F) of section 
11(a)(6) of the Federal Deposit Insurance Act, the Comptroller General 
shall transmit a report to the Congress evaluating any such 
certification.
    (h) Adjustment of SAIF Schedule.--Effective on the effective date of 
the amendment made by section 302(a) of the Federal Deposit Insurance 
Corporation Improvement Act of 1991, section 7(b)(3)(C) of the Federal 
Deposit Insurance Act (12 U.S.C. 1817(b)(3)(C)) is amended by striking 
``, but such amendments may not extend the date specified in 
subparagraph (B)'' and inserting ``and such amendment may extend the 
date specified in subparagraph (B) to such later date as the Corporation 
determines will, over time, maximize the amount of semiannual 
assessments received by the Savings Association Insurance Fund, net of 
insurance losses incurred by the Fund.''.
    (i) Technical and Conforming Amendments.--Section 11(a)(6)(G) of the 
Federal Deposit Insurance Act (12 U.S.C. 1821(a)(6)(G)) is amended--
        (1) by striking ``subparagraphs (E) and (F)'' and inserting 
    ``subparagraph (D)''; and
        (2) in the heading, by striking ``subparagraphs (e) and (f)'' 
    and inserting ``subparagraph (d)''.

SEC. 9. MORATORIUM EXTENSION.

    (a) Conversion Moratorium Until SAIF Recapitalized.--Section 
5(d)(2)(A)(ii) of the Federal Deposit Insurance Act (12 U.S.C. 
1815(d)(2)(A)(ii)) is amended--
        (1) by striking ``before the end'' and inserting ``before the 
    later of the end''; and
        (2) by inserting ``or the date on which the Savings Association 
    Insurance Fund first meets or exceeds the designated reserve ratio 
    for such fund'' before the period.
    (b) Clarification of Definition.--Section 5(d)(2)(B) of the Federal 
Deposit Insurance Act (12 U.S.C. 1815(d)(2)(B)) is amended--
        (1) by striking the period at the end of clause (iv) and 
    inserting ``; and''; and
        (2) by adding at the end the following:
                ``(v) the transfer of deposits--

                    ``(I) from a Bank Insurance Fund member to a Savings 
                Association Insurance Fund member; or
                    ``(II) from a Savings Association Insurance Fund 
                member to a Bank Insurance Fund member;

            in a transaction in which the deposit is received from a 
            depositor at an insured depository institution for which a 
            receiver has been appointed and the receiving insured 
            depository institution is acting as agent for the 
            Corporation in connection with the payment of such deposit 
            to the depositor at the institution for which a receiver has 
            been appointed.''.
    (c) Technical and Conforming Amendments.--Section 5(d) of the 
Federal Deposit Insurance Act (12 U.S.C. 1815(d)) is amended--
        (1) in clauses (ii) and (iii) of paragraph (2)(C); and
        (2) in paragraph (3)(I)(i);
by striking ``5-year period referred to in'' and inserting ``moratorium 
period established by''.

SEC. 10. REPAYMENT SCHEDULE FOR PERMANENT FDIC BORROWING AUTHORITY.

    Section 14(c) of the Federal Deposit Insurance Act (12 U.S.C. 
1824(c)) is amended by adding at the end the following new paragraph:
        ``(3) Industry repayment.--
            ``(A) BIF member payments.--No agreement or repayment 
        schedule under paragraph (1) shall require any payment by a Bank 
        Insurance Fund member for funds obtained under subsection (a) 
        for purposes of the Savings Association Fund.
            ``(B) SAIF member payments.--No agreement or repayment 
        schedule under paragraph (1) shall require any payment by a 
        Savings Association Insurance Fund member for funds obtained 
        under subsection (a) for purposes of the Bank Insurance Fund.''.

SEC. 11. DEPOSIT INSURANCE FUNDS.

    Section 11(a)(4) of the Federal Deposit Insurance Act (12 U.S.C. 
1821(a)(4)) is amended to read as follows:
        ``(4) General Provisions relating to funds.--
            ``(A) Maintenance and use of funds.--The Bank Insurance Fund 
        established under paragraph (5) and the Savings Association 
        Insurance Fund established under paragraph (6) shall each be--
                ``(i) maintained and administered by the Corporation;
                ``(ii) maintained separately and not commingled; and
                ``(iii) used by the Corporation to carry out its 
            insurance purposes in the manner provided in this 
            subsection.
            ``(B) Limitation on use.--Notwithstanding any provision of 
        law other than section 13(c)(4)(G), the Bank Insurance Fund and 
        the Savings Association Insurance Fund shall not be used in any 
        manner to benefit any shareholder of--
                ``(i) any insured depository institution for which the 
            Corporation or the Resolution Trust Corporation has been 
            appointed conservator or receiver, in connection with any 
            type of resolution by the Corporation or the Resolution 
            Trust Corporation;
                ``(ii) any other insured depository institution in 
            default or in danger of default, in connection with any type 
            of resolution by the Corporation or the Resolution Trust 
            Corporation; or
                ``(iii) any insured depository institution, in 
            connection with the provision of assistance under this 
            section or section 13 with respect to such institution, 
            except that this clause shall not prohibit any assistance to 
            any insured depository institution that is not in default, 
            or that is not in danger of default, that is acquiring (as 
            defined in section 13(f)(8)(B)) another insured depository 
            institution.''.

SEC. 12. MAXIMUM DOLLAR LIMITS FOR ELIGIBLE CONDOMINIUM AND SINGLE 
              FAMILY PROPERTIES UNDER RTC AFFORDABLE HOUSING PROGRAM.

    Section 21A(c)(9) of the Federal Home Loan Bank Act (12 U.S.C. 
1441a(c)(9)) is amended--
        (1) in subparagraph (D), by striking clause (ii) and inserting 
    the following new clause:
                ``(ii) that has an appraised value that does not 
            exceed--

                    ``(I) $67,500 in the case of a 1-family residence, 
                $76,000 in the case of a 2-family residence, $92,000 in 
                the case of a 3-family residence, and $107,000 in the 
                case of a 4-family residence; or
                    ``(II) only to the extent or in such amounts as are 
                provided in appropriation Acts for additional costs and 
                losses to the Corporation resulting from this subclause 
                taking effect, the amount provided in section 
                203(b)(2)(A) of the National Housing Act, except that 
                such amount shall not exceed $101,250 in the case of a 
                1-family residence, $114,000 in the case of a 2-family 
                residence, $138,000 in the case of a 3-family residence, 
                and $160,500 in the case of a 4-family residence.''; and

        (2) in subparagraph (G)--
            (A) by moving subclause (I) two ems to the left and 
        redesignating such subclause as clause (i); and
            (B) by striking subclause (II) and inserting the following 
        new clause:
                ``(ii) that has an appraised value that does not 
            exceed--

                    ``(I) $67,500 in the case of a 1-family residence, 
                $76,000 in the case of a 2-family residence, $92,000 in 
                the case of a 3-family residence, and $107,000 in the 
                case of a 4-family residence; or
                    ``(II) only to the extent or in such amounts as are 
                provided in appropriation Acts for additional costs and 
                losses to the Corporation resulting from this subclause 
                taking effect, the amount provided in section 
                203(b)(2)(A) of the National Housing Act, except that 
                such amount shall not exceed $101,250 in the case of a 
                1-family residence, $114,000 in the case of a 2-family 
                residence, $138,000 in the case of a 3-family residence, 
                and $160,500 in the case of a 4-family residence.''.

SEC. 13. CHANGES AFFECTING ONLY FDIC AFFORDABLE HOUSING PROGRAM.

    Section 40(p) of the Federal Deposit Insurance Act (12 U.S.C. 
1831q(p)) is amended in paragraphs (4)(A), (5)(A), and (7)(A), by 
inserting before ``; and'' each place it appears the following: ``in its 
corporate capacity, its capacity as conservator, or its capacity as 
receiver (including in its capacity as the sole owner of a subsidiary 
corporation of a depository institution under conservatorship or 
receivership, which subsidiary has as its principal business the 
ownership of real property)''.

SEC. 14. CHANGES AFFECTING BOTH RTC AND FDIC AFFORDABLE HOUSING 
              PROGRAMS.

    (a) Notice to Clearinghouses Regarding Properties not Included in 
Programs.--
        (1) RTC.--Section 21A(c) of the Federal Home Loan Bank Act (12 
    U.S.C. 1441a(c)) is amended by adding at the end the following new 
    paragraph:
        ``(16) Notice to clearinghouses regarding ineligible 
    properties.--
            ``(A) In general.--Within a reasonable period of time after 
        acquiring title to an ineligible residential property, the 
        Corporation shall, to the extent practicable, provide written 
        notice to clearinghouses.
            ``(B) Content.--For ineligible single family properties, 
        such notice shall contain the same information about such 
        properties that the notice required under paragraph (2)(A) 
        contains with respect to eligible single family properties. For 
        ineligible multifamily housing properties, such notice shall 
        contain the same information about such properties that the 
        notice required under paragraph (3)(A) contains with respect to 
        eligible multifamily housing properties. For ineligible 
        condominium properties, such notice shall contain the same 
        information about such properties that the notice required under 
        paragraph (14)(A) contains with respect to eligible condominium 
        properties.
            ``(C) Availability.--The clearinghouses shall make such 
        information available, upon request, to other public agencies, 
        other nonprofit organizations, qualifying households, qualifying 
        multifamily purchasers, and other purchasers, as appropriate.
            ``(D) Definitions.--For purposes of this paragraph, the 
        following definitions shall apply:
                ``(i) Ineligible condominium property.--The term 
            `ineligible condominium property' means a condominium unit, 
            as such term is defined in section 604 of the Housing and 
            Community Development Act of 1980--

                    ``(I) to which the Corporation acquires title in its 
                corporate capacity, its capacity as conservator, or its 
                capacity as receiver (including its capacity as the sole 
                owner of a subsidiary corporation of a depository 
                institution under conservatorship or receivership, which 
                subsidiary corporation has as its principal business the 
                ownership of real property);
                    ``(II) that has an appraised value that does not 
                exceed the applicable dollar amount limitation for the 
                property under paragraph (9)(D)(ii)(II); and
                    ``(III) that is not an eligible condominium 
                property.

                ``(ii) Ineligible multifamily housing property.--The 
            term `ineligible multifamily housing property' means a 
            property consisting of more than 4 dwelling units--

                    ``(I) to which the Corporation acquires title in its 
                capacity as conservator (including its capacity as the 
                sole owner of a subsidiary corporation of a depository 
                institution under conservatorship, which subsidiary 
                corporation has as its principal business the ownership 
                of real property);
                    ``(II) that has an appraised value that does not 
                exceed, for such part of the property as may be 
                attributable to dwelling use (excluding exterior land 
                improvements), the dollar amount limitations under 
                paragraph (9)(E)(i)(II); and
                    ``(III) that is not an eligible multifamily housing 
                property.

                ``(iii) Ineligible single family property.--The term 
            `ineligible single family property' means a 1- to 4-family 
            residence (including a manufactured home)--

                    ``(I) to which the Corporation acquires title in its 
                corporate capacity, its capacity as conservator, or its 
                capacity as receiver (including its capacity as the sole 
                owner of a subsidiary corporation of a depository 
                institution under conservatorship or receivership, which 
                subsidiary corporation has as its principal business the 
                ownership of real property);
                    ``(II) that has an appraised value that does not 
                exceed the applicable dollar amount limitation for the 
                property under paragraph (9)(G)(ii)(II); and
                    ``(III) that is not an eligible single family 
                property.

                ``(iv) Ineligible residential property.--The term 
            `ineligible residential property' includes ineligible single 
            family properties, ineligible multifamily housing 
            properties, and ineligible condominium properties.''.
        (2) FDIC.--Section 40 of the Federal Deposit Insurance Act (12 
    U.S.C. 1831q) is amended by adding at the end the following new 
    subsection:
    ``(q) Notice to Clearinghouses Regarding Ineligible Properties.--
        ``(1) In general.--Within a reasonable period of time after 
    acquiring title to an ineligible residential property, the 
    Corporation shall, to the extent practicable, provide written notice 
    to clearinghouses.
        ``(2) Content.--For ineligible single family properties, such 
    notice shall contain the same information about such properties that 
    the notice required under subsection (c)(1) contains with respect to 
    eligible single family properties. For ineligible multifamily 
    housing properties, such notice shall contain the same information 
    about such properties that the notice required under subsection 
    (d)(1) contains with respect to eligible multifamily housing 
    properties. For ineligible condominium properties, such notice shall 
    contain the same information about such properties that the notice 
    required under subsection (l)(1) contains with respect to eligible 
    condominium properties.
        ``(3) Availability.--The clearinghouses shall make such 
    information available, upon request, to other public agencies, other 
    nonprofit organizations, qualifying households, qualifying 
    multifamily purchasers, and other purchasers, as appropriate.
        ``(4) Definitions.--For purposes of this subsection, the 
    following definitions shall apply:
            ``(A) Ineligible condominium property.--The term `ineligible 
        condominium property' means any eligible condominium property to 
        which the provisions of this section do not apply as a result of 
        the limitations under subsection (b)(2)(A).
            ``(B) Ineligible multifamily housing property.--The term 
        `ineligible multifamily housing property' means any eligible 
        multifamily housing property to which the provisions of this 
        section do not apply as a result of the limitations under 
        subsection (b)(2)(A).
            ``(C) Ineligible single family property.--The term 
        `ineligible single family property' means any eligible single 
        family property to which the provisions of this section do not 
        apply as a result of the limitations under subsection (b)(2)(A).
            ``(D) Ineligible residential property.--The term `ineligible 
        residential property' includes ineligible single family 
        properties, ineligible multifamily housing properties, and 
        ineligible condominium properties.''.
    (b) Affordable Housing Advisory Board.--
        (1) Establishment.--There is hereby established the Affordable 
    Housing Advisory Board (in this subsection referred to as the 
    ``Advisory Board'') to advise the Thrift Depositor Protection 
    Oversight Board and the Board of Directors of the Federal Deposit 
    Insurance Corporation on policies and programs related to the 
    provision of affordable housing, including the operation of the 
    affordable programs.
        (2) Membership.--The Advisory Board shall consist of--
            (A) the Secretary of Housing and Urban Development;
            (B) the Chairperson of the Board of Directors of the Federal 
        Deposit Insurance Corporation (or the Chairperson's delegate), 
        who shall be a nonvoting member;
            (C) the Chairperson of the Thrift Depositor Protection 
        Oversight Board (or the Chairperson's delegate), who shall be a 
        nonvoting member;
            (D) 4 persons appointed by the Secretary of Housing and 
        Urban Development not later than the expiration of the 90-day 
        period beginning on the date of the enactment of this Act, who 
        represent the interests of individuals and organizations 
        involved in using the affordable housing programs (including 
        nonprofit organizations, public agencies, and for-profit 
        organizations that purchase properties under the affordable 
        housing programs, organizations that provide technical 
        assistance regarding the affordable housing programs, and 
        organizations that represent the interest of low- and moderate-
        income families); and
            (E) 2 persons who are members of the National Housing 
        Advisory Board pursuant to section 21A(d)(2)(B)(ii) of the 
        Federal Home Loan Bank Act (as in effect before the effective 
        date of the repeal under subsection (c)(2)), who shall be 
        appointed by such Board before such effective date.
        (3) Terms.--Each member shall be appointed for a term of 4 
    years, except as provided in paragraphs (4) and (5).
        (4) Terms of initial appointees.--
            (A) Permanent positions.--As designated by the Secretary of 
        Housing and Urban Development at the time of appointment, of the 
        members first appointed under paragraph (2)(D)--
                (i) 1 shall be appointed for a term of 1 year;
                (ii) 1 shall be appointed for a term of 2 years;
                (iii) 1 shall be appointed for a term of 3 years; and
                (iv) 1 shall be appointed for a term of 4 years.
            (B) Interim members.--The members of the Advisory Board 
        under paragraph (2)(E) shall be appointed for a single term of 4 
        years, which shall begin upon the earlier of (i) the expiration 
        of the 90-day period beginning on the date of the enactment of 
        this Act, or (ii) the first meeting of the Advisory Board.
        (5) Vacancies.--Any member appointed to fill a vacancy occurring 
    before the expiration of the term for which the member's predecessor 
    was appointed shall be appointed only for the remainder of that 
    term. A member may serve after the expiration of that member's term 
    until a successor has taken office. A vacancy in the Commission 
    shall be filled in the manner in which the original appointment was 
    made.
        (6) Meetings.--
            (A) Timing and location.--The Advisory Board shall meet 4 
        times a year, or more frequently if requested by the Thrift 
        Depositor Protection Oversight Board or the Board of Directors 
        of the Federal Deposit Insurance Corporation. In each year, the 
        Advisory Board shall conduct such meetings at various locations 
        in different regions of the United States in which substantial 
        residential property assets of the Federal Deposit Insurance 
        Corporation or the Resolution Trust Corporation are located. The 
        first meeting of the Advisory Board shall take place not later 
        than the expiration of the 90-day period beginning on the date 
        of the enactment of this Act.
            (B) Advice.--The Advisory Board shall submit information and 
        advice resulting from each meeting, in such form as the Board 
        considers appropriate, to the Thrift Depositor Protection 
        Oversight Board and the Board of Directors of the Federal 
        Deposit Insurance Corporation.
        (7) Annual reports.--For each year, the Advisory Board shall 
    submit a report containing its findings and recommendations to the 
    Committee on Banking, Housing, and Urban affairs of the Senate and 
    the Committee on Banking, Finance and Urban Affairs of the House of 
    Representatives, the Federal Deposit Insurance Corporation, and the 
    Resolution Trust Corporation. The first such report shall be made 
    not later than the expiration of the 6-month period beginning on the 
    date of the enactment of this Act.
        (8) Definition.--For purposes of this subsection, the term 
    ``affordable housing programs'' means the program under section 
    21A(c) of the Federal Home Loan Bank Act and the program under 
    section 40 of the Federal Deposit Insurance Act.
        (9) Sunset.--The Advisory Board established under this 
    subsection shall terminate on September 30, 1998.
    (c) Termination of National Housing Advisory Board.--
        (1) Termination.--The National Housing Advisory Board under 
    section 21A(d)(2) of the Federal Home Loan Bank Act shall terminate 
    upon the expiration of the 90-day period beginning on the date of 
    the enactment of this Act.
        (2) Repeal.--Effective upon the expiration of the period 
    referred to in paragraph (1), paragraph (2) of section 21A(d) of the 
    Federal Home Loan Bank Act (12 U.S.C. 1441a(d)(2)) is amended to 
    read as follows:
        ``(2) [Reserved]''.
    (d) Provision of Information Regarding Seller Financing to Minority- 
and Women-Owned Businesses.--
        (1) RTC.--Section 21A(c)(6)(A)(ii) of the Federal Home Loan Bank 
    Act (12 U.S.C. 1441a(c)(6)(A)(ii)) is amended by adding at the end 
    the following new sentences: ``The Corporation shall periodically 
    provide, to a wide range of minority- and women-owned businesses 
    engaged in providing affordable housing and to nonprofit 
    organizations, more than 50 percent of the control of which is held 
    by 1 or more minority individuals, that are engaged in providing 
    affordable housing, information that is sufficient to inform such 
    businesses and organizations of the availability and terms of 
    financing under this clause; such information may be provided 
    directly, by notices published in periodicals and other publications 
    that regularly provide information to such businesses or 
    organizations, and through persons and organizations that regularly 
    provide information or services to such businesses or organizations. 
    For purposes of this clause, the terms `women-owned business' and 
    `minority-owned business' have the meanings given such terms in 
    subsection (r), and the term `minority' has the meaning given such 
    term in section 1204(c)(3) of the Financial Institutions Reform, 
    Recovery, and Enforcement Act of 1989.''.
        (2) FDIC.--Section 40(g)(1)(B) of the Federal Deposit Insurance 
    Act (12 U.S.C. 1831q(g)(1)(B)) is amended by adding at the end the 
    following new sentences: ``The Corporation shall periodically 
    provide, to a wide range of minority- and women-owned businesses 
    engaged in providing affordable housing and to nonprofit 
    organizations, more than 50 percent of the control of which is held 
    by 1 or more minority individuals, that are engaged in providing 
    affordable housing, information that is sufficient to inform such 
    businesses and organizations of the availability and terms of 
    financing under this subparagraph; such information may be provided 
    directly, by notices published in periodicals and other publications 
    that regularly provide information to such businesses or 
    organizations, and through persons and organizations that regularly 
    provide information or services to such businesses or organizations. 
    For purposes of this subparagraph, the terms `women-owned business' 
    and `minority-owned business' have the meanings given such terms in 
    section 21A(r) of the Federal Home Loan Bank Act, and the term 
    `minority' has the meaning given such term in section 1204(c)(3) of 
    the Financial Institutions Reform, Recovery, and Enforcement Act of 
    1989.''.
    (e) Authority to Carry Out Unified Affordable Housing Program.--
        (1) RTC.--Section 21A(c) of the Federal Home Loan Bank Act (12 
    U.S.C. 1441a(c)) is amended by adding after paragraph (16) (as added 
    by subsection (a) of this section) the following new paragraph:
        ``(17) Unified affordable housing program.--
            ``(A) In general.--Not later than 4 months after the date of 
        enactment of the Resolution Trust Corporation Completion Act, 
        the Corporation shall enter into an agreement, as described in 
        section 40(n)(3) of the Federal Deposit Insurance Act, with the 
        Federal Deposit Insurance Corporation that sets out a plan for 
        the orderly unification of the Corporation's activities, 
        authorities, and responsibilities under this subsection with the 
        authorities, activities, and responsibilities of the Federal 
        Deposit Insurance Corporation pursuant to section 40 of the 
        Federal Deposit Insurance Act in a manner that best achieves an 
        effective and comprehensive affordable housing program 
        management structure. The agreement shall be entered into after 
        consultation with the Affordable Housing Advisory Board under 
        section 14(b) of the Resolution Trust Corporation Completion 
        Act.
            ``(B) Authority and implementation.--The Corporation shall 
        have the authority to carry out the provisions of the agreement 
        entered into pursuant to subparagraph (A) and shall implement 
        such agreement as soon as practicable, but in no event later 
        than 8 months after the date of enactment of the Resolution 
        Trust Corporation Completion Act.
            ``(C) Transfer of authority.--Effective upon October 1, 
        1995, any remaining authority and responsibilities of the 
        Corporation under this subsection shall be carried out by the 
        Federal Deposit Insurance Corporation.''.
        (2) FDIC.--Section 40(n) of the Federal Deposit Insurance Act 
    (12 U.S.C. 1831q(n)) is amended to read as follows:
    ``(n) Unified Affordable Housing Programs.--
        ``(1) In general.--Not later than 4 months after the date of 
    enactment of the Resolution Trust Corporation Completion Act, the 
    Corporation shall enter into an agreement, as described in paragraph 
    (3), with the Resolution Trust Corporation that sets out a plan for 
    the orderly unification of the Corporation's activities, 
    authorities, and responsibilities under this section with the 
    authorities, activities, and responsibilities of the Resolution 
    Trust Corporation pursuant to section 21A(c) of the Federal Home 
    Loan Bank Act in a manner that best achieves an effective and 
    comprehensive affordable housing program management structure. The 
    agreement shall be entered into after consultation with the 
    Affordable Housing Advisory Board under section 14(b) of the 
    Resolution Trust Corporation Completion Act.
        ``(2) Authority and implementation.--The Corporation shall have 
    the authority to carry out the provisions of the agreement entered 
    into pursuant to paragraph (1) and shall implement such agreement as 
    soon as practicable but in no event later than 8 months after the 
    date of enactment of the Resolution Trust Corporation Completion 
    Act.
        ``(3) Terms of agreement.--The agreement required under 
    paragraph (1) shall provide a plan for--
            ``(A) a program unifying all activities and responsibilities 
        of the Corporation and the Resolution Trust Corporation, and the 
        design of the unified program shall take into consideration the 
        substantial experience of the Resolution Trust Corporation 
        regarding--
                ``(i) seller financing;
                ``(ii) technical assistance;
                ``(iii) marketing skills and relationships with public 
            and nonprofit entities; and
                ``(iv) staff resources;
            ``(B) the elimination of duplicative and unnecessary 
        administrative costs and resources;
            ``(C) the management structure of the unified program;
            ``(D) a timetable for the unification; and
            ``(E) a methodology to determine the extent to which the 
        provisions of this section shall be effective, in accordance 
        with the limitations under subsection (b)(2).
        ``(4) Transfer to fdic.--Beginning not later than October 1, 
    1995, the Corporation shall carry out any remaining authority and 
    responsibilities of the Resolution Trust Corporation, as set forth 
    in section 21A(c) of the Federal Home Loan Bank Act.''.
    (f) Liability Provisions.--
        (1) RTC.--Section 21A(c)(11) of the Federal Home Loan Bank Act 
    (12 U.S.C. 1441a(c)(11)) is amended by adding at the end the 
    following new subparagraph:
            ``(D) Corporation.--The Corporation shall not be liable to 
        any depositor, creditor, or shareholder of any insured 
        depository institution for which the Corporation has been 
        appointed receiver or conservator, or of any subsidiary 
        corporation of a depository institution under conservatorship or 
        receivership, or any claimant against such an institution or 
        subsidiary, because the disposition of assets of the institution 
        or the subsidiary under this subsection affects the amount of 
        return from the assets.''.
        (2) FDIC.--Section 40(m)(4) of the Federal Deposit Insurance Act 
    (12 U.S.C. 1831q(m)(4)) is amended to read as follows:
        ``(4) Corporation.--The Corporation shall not be liable to any 
    depositor, creditor, or shareholder of any insured depository 
    institution for which the Corporation has been appointed receiver or 
    conservator, or of any subsidiary corporation of a depository 
    institution under receivership or conservatorship, or any claimant 
    against such institution or subsidiary, because the disposition of 
    assets of the institution or the subsidiary under this section 
    affects the amount of return from the assets.''.

SEC. 15. RIGHT OF FIRST REFUSAL FOR TENANTS TO PURCHASE SINGLE FAMILY 
              PROPERTY.

    (a) RTC.--Section 21A(b) of the Federal Home Loan Bank Act (12 
U.S.C. 1441a(b)) is amended by adding after paragraph (14) (as added by 
section (4) of this Act) the following new paragraph:
        ``(15) Purchase rights of tenants.--
            ``(A) Notice.--Except as provided in subparagraph (C), the 
        Corporation may make available for sale a 1- to 4-family 
        residence (including a manufactured home) to which the 
        Corporation acquires title only after the Corporation has 
        provided the household residing in the property notice (in 
        writing and mailed to the property) of the availability of such 
        property and the preference afforded such household under 
        subparagraph (B).
            ``(B) Preference.--In selling such a property, the 
        Corporation shall give preference to any bona fide offer made by 
        the household residing in the property, if--
                ``(i) such offer is substantially similar in amount to 
            other offers made within such period (or expected by the 
            Corporation to be made within such period);
                ``(ii) such offer is made during the period beginning 
            upon the Corporation making such property available and of a 
            reasonable duration, as determined by the Corporation based 
            on the normal period for sale of such properties; and
                ``(iii) the household making the offer complies with any 
            other requirements applicable to purchasers of such 
            property, including any downpayment and credit requirements.
            ``(C) Exceptions.--Subparagraphs (A) and (B) shall not apply 
        to--
                ``(i) any residence transferred in connection with the 
            transfer of substantially all of the assets of an insured 
            depository institution for which the Corporation has been 
            appointed conservator or receiver;
                ``(ii) any eligible single family property (as such term 
            is defined in subsection (c)(9)); or
                ``(iii) any residence for which the household occupying 
            the residence was the mortgagor under a mortgage on such 
            residence and to which the Corporation acquired title 
            pursuant to default on such mortgage.''.
    (b) FDIC.--Section 11 of the Federal Deposit Insurance Act (12 
U.S.C. 1821) is amended by adding at the end the following new 
subsection:
    ``(u) Purchase Rights of Tenants.--
        ``(1) Notice.--Except as provided in paragraph (3), the 
    Corporation may make available for sale a 1- to 4-family residence 
    (including a manufactured home) to which the Corporation acquires 
    title only after the Corporation has provided the household residing 
    in the property notice (in writing and mailed to the property) of 
    the availability of such property and the preference afforded such 
    household under paragraph (2).
        ``(2) Preference.--In selling such a property, the Corporation 
    shall give preference to any bona fide offer made by the household 
    residing in the property, if--
            ``(A) such offer is substantially similar in amount to other 
        offers made within such period (or expected by the Corporation 
        to be made within such period);
            ``(B) such offer is made during the period beginning upon 
        the Corporation making such property available and of a 
        reasonable duration, as determined by the Corporation based on 
        the normal period for sale of such properties; and
            ``(C) the household making the offer complies with any other 
        requirements applicable to purchasers of such property, 
        including any downpayment and credit requirements.
        ``(3) Exceptions.--Paragraphs (1) and (2) shall not apply to--
            ``(A) any residence transferred in connection with the 
        transfer of substantially all of the assets of an insured 
        depository institution for which the Corporation has been 
        appointed conservator or receiver;
            ``(B) any eligible single family property (as such term is 
        defined in subsection (c)(9)); or
            ``(C) any residence for which the household occupying the 
        residence was the mortgagor under a mortgage on such residence 
        and to which the Corporation acquired title pursuant to default 
        on such mortgage.''.

SEC. 16. PREFERENCE FOR SALES OF REAL PROPERTY FOR USE FOR HOMELESS 
              FAMILIES.

    (a) RTC.--Section 21A(b) of the Federal Home Loan Bank Act (12 
U.S.C. 1441a(b)) is amended by adding after paragraph (15) (as added by 
section 15(a) of this Act) the following new paragraph:
        ``(16) Preference for sales for homeless families.--Subject to 
    paragraph (15), in selling any real property (other than eligible 
    residential property and eligible condominium property, as such 
    terms are defined in subsection (c)(9)) to which the Corporation 
    acquires title, the Corporation shall give preference, among offers 
    to purchase the property that will result in the same net present 
    value proceeds, to any offer that would provide for the property to 
    be used, during the remaining useful life of the property, to 
    provide housing or shelter for homeless persons (as such term is 
    defined in section 103 of the Stewart B. McKinney Homeless 
    Assistance Act) or homeless families.''.
    (b) FDIC.--Section 11 of the Federal Deposit Insurance Act (12 
U.S.C. 1821) is amended by adding after subsection (u) (as added by 
section 15(b) of this Act) the following new subsection:
    ``(v) Preference for Sales for Homeless Families.--Subject to 
subsection (u), in selling any real property (other than eligible 
residential property and eligible condominium property, as such terms 
are defined in section 40(p)) to which the Corporation acquires title, 
the Corporation shall give preference among offers to purchase the 
property that will result in the same net present value proceeds, to any 
offer that would provide for the property to be used, during the 
remaining useful life of the property, to provide housing or shelter for 
homeless persons (as such term is defined in section 103 of the Stewart 
B. McKinney Homeless Assistance Act) or homeless families.''.

SEC. 17. PREFERENCES FOR SALES OF COMMERCIAL PROPERTIES TO PUBLIC 
              AGENCIES AND NONPROFIT ORGANIZATIONS FOR USE IN CARRYING 
              OUT PROGRAMS FOR AFFORDABLE HOUSING.

    (a) RTC.--Section 21A(b) of the Federal Home Loan Bank Act (12 
U.S.C. 1441a(b)) is amended by adding after paragraph (16) (as added by 
section 16(a) of this Act) the following new paragraph:
        ``(17) Preferences for sales of certain commercial real 
    properties.--
            ``(A) Authority.--In selling any eligible commercial real 
        properties of the Corporation, the Corporation shall give 
        preference, among offers to purchase the property that will 
        result in the same net present value proceeds, to any offer--
                ``(i) that is made by a public agency or nonprofit 
            organization; and
                ``(ii) under which the purchaser agrees that the 
            property shall be used, during the remaining useful life of 
            the property, for offices and administrative purposes of the 
            purchaser to carry out a program to acquire residential 
            properties to provide (I) homeownership and rental housing 
            opportunities for very-low-, low-, and moderate-income 
            families, or (II) housing or shelter for homeless persons 
            (as such term is defined in section 103 of the Stewart B. 
            McKinney Homeless Assistance Act) or homeless families.
            ``(B) Definitions.--For purposes of this paragraph, the 
        following definitions shall apply:
                ``(i) Eligible commercial real property.--The term 
            `eligible commercial real property' means any property (I) 
            to which the Corporation acquires title, and (II) that the 
            Corporation, in the discretion of the Corporation, 
            determines is suitable for use for the location of offices 
            or other administrative functions involved with carrying out 
            a program referred to in subparagraph (A)(ii).
                ``(ii) Nonprofit organization and public agency.--The 
            terms `nonprofit organization' and `public agency' have the 
            same meanings as in subsection (c)(9).''.
    (b) FDIC.--Section 11 of the Federal Deposit Insurance Act (12 
U.S.C. 1821) is amended by adding after subsection (v) (as added by 
section 16(b) of this Act) the following new subsection:
    ``(w) Preferences for Sales of Certain Commercial Real Properties.--
        ``(1) Authority.--In selling any eligible commercial real 
    properties of the Corporation, the Corporation shall give 
    preference, among offers to purchase the property that will result 
    in the same net present value proceeds, to any offer--
            ``(A) that is made by a public agency or nonprofit 
        organization; and
            ``(B) under which the purchaser agrees that the property 
        shall be used, during the remaining useful life of the property, 
        for offices and administrative purposes of the purchaser to 
        carry out a program to acquire residential properties to provide 
        (i) homeownership and rental housing opportunities for very-low-
        , low-, and moderate-income families, or (ii) housing or shelter 
        for homeless persons (as such term is defined in section 103 of 
        the Stewart B. McKinney Homeless Assistance Act) or homeless 
        families.
        ``(2) Definitions.--For purposes of this subsection, the 
    following definitions shall apply:
            ``(A) Eligible commercial real property.--The term `eligible 
        commercial real property' means any property (i) to which the 
        Corporation acquires title, and (ii) that the Corporation, in 
        the discretion of the Corporation, determines is suitable for 
        use for the location of offices or other administrative 
        functions involved with carrying out a program referred to in 
        paragraph (1)(B).
            ``(B) Nonprofit organization and public agency.--The terms 
        `nonprofit organization' and `public agency' have the same 
        meanings as in section 40(p).''.

SEC. 18. FEDERAL HOME LOAN BANKS HOUSING OPPORTUNITY HOTLINE PROGRAM.

    The Federal Home Loan Bank Act (12 U.S.C. 1422 et seq.) is amended 
by inserting after section 26 the following new section:

``SEC. 27. HOUSING OPPORTUNITY HOTLINE PROGRAM.

    ``(a) Establishment.--The Federal Home Loan Banks shall, 
individually or (at the discretion of the Federal Housing Finance Board) 
on a consolidated basis, establish and provide a service substantially 
similar (in the determination of the Board) to the `Housing Opportunity 
Hotline' program established in October 1992, by the Federal Home Loan 
Bank of Dallas.
    ``(b) Purpose.--The service or services established under this 
section shall provide information regarding the availability for 
purchase of single family properties that are owned or held by Federal 
agencies and are located in the Federal Home Loan Bank district for such 
Bank. Such agencies shall provide to the Federal Home Loan Banks the 
information necessary to provide such service or services.
    ``(c) Required Information.--The service or services established 
under this section shall use the information obtained from Federal 
agencies to provide information regarding the size, location, price, and 
other characteristics of such single family properties, the eligibility 
requirements for purchasers of such properties, the terms for such 
sales, and the terms of any available seller financing, and shall 
identify properties that are affordable to low- and moderate-income 
families.
    ``(d) Toll-Free Telephone Number.--The service or services 
established under this section shall establish and maintain a toll-free 
telephone line for providing the information made available under the 
service or services.
    ``(e) Definitions.--For purposes of this section, the following 
definitions shall apply:
        ``(1) Federal agencies.--The term `Federal agencies' means--
            ``(A) the Farmers Home Administration, the Federal National 
        Mortgage Association, the Federal Home Loan Mortgage 
        Corporation, the General Services Administration, the Department 
        of Housing and Urban Development, and the Department of Veterans 
        Affairs;
            ``(B) the Resolution Trust Corporation, subject to the 
        discretion of such Corporation; and
            ``(C) the Federal Deposit Insurance Corporation, subject to 
        the discretion of such Corporation.
        ``(2) Single family property.--The term `single family property' 
    means a 1- to 4-family residence, including a manufactured home.''.

SEC. 19. CONFLICT OF INTEREST PROVISIONS APPLICABLE TO THE FDIC.

    (a) In General.--Section 12 of the Federal Deposit Insurance Act (12 
U.S.C. 1822) is amended by adding at the end the following new 
subsection:
    ``(f) Conflict of Interest.--
        ``(1) Applicability of other provisions.--
            ``(A) Clarification of status of corporation.--The 
        Corporation is, and has been since its creation, an agency for 
        purposes of title 18, United States Code.
            ``(B) Treatment of contractors.--Any individual who, 
        pursuant to a contract or any other arrangement, performs 
        functions or activities of the Corporation, under the direct 
        supervision of an officer or employee of the Corporation, shall 
        be deemed to be an employee of the Corporation for purposes of 
        title 18, United States Code and this Act. Any individual who, 
        pursuant to a contract or any other agreement, acts for or on 
        behalf of the Corporation, and who is not otherwise treated as 
        an officer or employee of the United States for purposes of 
        title 18, United States Code, shall be deemed to be a public 
        official for purposes of section 201 of title 18, United States 
        Code.
        ``(2) Regulations concerning employee conduct.--The officers and 
    employees of the Corporation and those individuals under contract to 
    the Corporation who are deemed, under paragraph (1)(B), to be 
    employees of the Corporation for purposes of title 18, United States 
    Code, shall be subject to the ethics and conflict of interest rules 
    and regulations issued by the Office of Government Ethics, including 
    those concerning employee conduct, financial disclosure, and post-
    employment activities. The Board of Directors may prescribe 
    regulations that supplement such rules and regulations only with the 
    concurrence of that Office.
        ``(3) Regulations concerning independent contractors.--The Board 
    of Directors, with the concurrence of the Office of Government 
    Ethics, shall prescribe regulations applicable to those independent 
    contractors who are not deemed, under paragraph (1)(B), to be 
    employees of the Corporation for purposes of title 18, United States 
    Code, governing conflicts of interest, ethical responsibilities, and 
    the use of confidential information consistent with the goals and 
    purposes of titles 18 and 41, United States Code. Any such 
    regulations shall be in addition to, and not in lieu of, any other 
    statute or regulation which may apply to the conduct of such 
    independent contractors.
        ``(4) Disapproval of contractors.--
            ``(A) In general.--The Board of Directors shall prescribe 
        regulations establishing procedures for ensuring that any 
        individual who is performing, directly or indirectly, any 
        function or service on behalf of the Corporation meets minimum 
        standards of competence, experience, integrity, and fitness.
            ``(B) Prohibition from service on behalf of corporation.--
        The procedures established under subparagraph (A) shall provide 
        that the Corporation shall prohibit any person who does not meet 
        the minimum standards of competence, experience, integrity, and 
        fitness from--
                ``(i) entering into any contract with the Corporation; 
            or
                ``(ii) becoming employed by the Corporation or otherwise 
            performing any service for or on behalf of the Corporation.
            ``(C) Information required to be submitted.--The procedures 
        established under subparagraph (A) shall require that any offer 
        submitted to the Corporation by any person under this section 
        and any employment application submitted to the Corporation by 
        any person shall include--
                ``(i) a list and description of any instance during the 
            5 years preceding the submission of such application in 
            which the person or a company under such person's control 
            defaulted on a material obligation to an insured depository 
            institution; and
                ``(ii) such other information as the Board may prescribe 
            by regulation.
            ``(D) Subsequent submissions.--
                ``(i) In general.--No offer submitted to the Corporation 
            may be accepted unless the offeror agrees that no person 
            will be employed, directly or indirectly, by the offeror 
            under any contract with the Corporation unless--

                    ``(I) all applicable information described in 
                subparagraph (C) with respect to any such person is 
                submitted to the Corporation; and
                    ``(II) the Corporation does not disapprove of the 
                direct or indirect employment of such person.

                ``(ii) Finality of determination.--Any determination 
            made by the Corporation pursuant to this paragraph shall be 
            in the Corporation's sole discretion and shall not be 
            subject to review.
            ``(E) Prohibition required in certain cases.--The standards 
        established under subparagraph (A) shall require the Corporation 
        to prohibit any person who has--
                ``(i) been convicted of any felony;
                ``(ii) been removed from, or prohibited from 
            participating in the affairs of, any insured depository 
            institution pursuant to any final enforcement action by any 
            appropriate Federal banking agency;
                ``(iii) demonstrated a pattern or practice of 
            defalcation regarding obligations to insured depository 
            institutions; or
                ``(iv) caused a substantial loss to Federal deposit 
            insurance funds;
        from performing any service on behalf of the Corporation.
        ``(5) Abrogation of contracts.--The Corporation may rescind any 
    contract with a person who--
            ``(A) fails to disclose a material fact to the Corporation;
            ``(B) would be prohibited under paragraph (6) from providing 
        services to, receiving fees from, or contracting with the 
        Corporation; or
            ``(C) has been subject to a final enforcement action by any 
        Federal banking agency.
        ``(6) Priority of fdic rules.--To the extent that the 
    regulations under this subsection conflict with rules of other 
    agencies or Government corporations, officers, directors, employees, 
    and independent contractors of the Corporation who are also subject 
    to the conflict of interest or ethical rules of another agency or 
    Government corporation, shall be governed by the regulations 
    prescribed by the Board of Directors under this subsection when 
    acting for or on behalf of the Corporation. Notwithstanding the 
    preceding sentence, the rules of the Corporation shall not take 
    priority over the ethics and conflict of interest rules and 
    regulations promulgated by the Office of Government Ethics unless 
    specifically authorized by that Office.''.
    (b) Amendments to Definitions.--
        (1) Federal banking agency.--Section 3(z) of the Federal Deposit 
    Insurance Act (12 U.S.C. 1813(z)) is amended to read as follows:
    ``(z) Federal Banking Agency.--The term `Federal banking agency' 
means the Comptroller of the Currency, the Director of the Office of 
Thrift Supervision, the Board of Governors of the Federal Reserve 
System, or the Federal Deposit Insurance Corporation.''.
        (2) Company.--Section 3(w) of the Federal Deposit Insurance Act 
    (12 U.S.C. 1813(w)) is amended by adding at the end the following 
    new paragraph:
        ``(7) Company.--The term `company' has the same meaning as in 
    section 2(b) of the Bank Holding Company Act of 1956.''.
    (c) Effective Date.--The amendment made by subsection (a) shall 
apply after the end of the 6-month period beginning on the date of 
enactment of this Act.

SEC. 20. RESTRICTIONS ON SALES OF ASSETS TO CERTAIN PERSONS.

    (a) In General.--Section 11(p) of the Federal Deposit Insurance Act 
(12 U.S.C. 1821(p)) is amended--
        (1) by redesignating paragraphs (1) and (2) as paragraphs (2) 
    and (3); and
        (2) by inserting before paragraph (2), as redesignated, the 
    following new paragraph:
        ``(1) Persons who engaged in improper conduct with, or caused 
    losses to, depository institutions.--The Corporation shall prescribe 
    regulations which, at a minimum, shall prohibit the sale of assets 
    of a failed institution by the Corporation to--
            ``(A) any person who--
                ``(i) has defaulted, or was a member of a partnership or 
            an officer or director of a corporation that has defaulted, 
            on 1 or more obligations the aggregate amount of which 
            exceed $1,000,000, to such failed institution;
                ``(ii) has been found to have engaged in fraudulent 
            activity in connection with any obligation referred to in 
            clause (i); and
                ``(iii) proposes to purchase any such asset in whole or 
            in part through the use of the proceeds of a loan or advance 
            of credit from the Corporation or from any institution for 
            which the Corporation has been appointed as conservator or 
            receiver;
            ``(B) any person who participated, as an officer or director 
        of such failed institution or of any affiliate of such 
        institution, in a material way in transactions that resulted in 
        a substantial loss to such failed institution;
            ``(C) any person who has been removed from, or prohibited 
        from participating in the affairs of, such failed institution 
        pursuant to any final enforcement action by an appropriate 
        Federal banking agency; or
            ``(D) any person who has demonstrated a pattern or practice 
        of defalcation regarding obligations to such failed 
        institution.''.
    (b) Technical and Conforming Amendments.--Section 11(p) of the 
Federal Deposit Insurance Act (12 U.S.C. 1821(p)) is amended--
        (1) in paragraph (2) (as redesignated by subsection (a))--
            (A) by striking ``individual'' and inserting ``person''; and
            (B) by striking ``paragraph (2)'' and inserting ``paragraph 
        (3)'';
        (2) in paragraph (3) (as redesignated by subsection (a))--
            (A) by striking ``individual'' each place such term appears 
        and inserting ``person''; and
            (B) by striking ``Paragraph (1)'' and inserting ``Paragraphs 
        (1) and (2)'';
        (3) by adding at the end the following new paragraph:
        ``(4) Definition of default.--For purposes of this subsection, 
    the term `default' means a failure to comply with the terms of a 
    loan or other obligation to such an extent that the property 
    securing the obligation is foreclosed upon.''; and
        (4) by striking the heading and inserting the following new 
    heading:
    ``(p) Certain Sales of Assets Prohibited.--''.

SEC. 21. WHISTLE BLOWER PROTECTION.

    (a) Amendments to the Federal Deposit Insurance Act.--Section 33(a) 
of the Federal Deposit Insurance Act (12 U.S.C. 1831j(a)) is amended--
        (1) in paragraph (1)--
            (A) by striking ``regarding'' and all that follows through 
        the end of the sentence and inserting the following: 
        ``regarding--
            ``(A) a possible violation of any law or regulation; or
            ``(B) gross mismanagement, a gross waste of funds, an abuse 
        of authority, or a substantial and specific danger to public 
        health or safety;
    by the depository institution or any director, officer, or employee 
    of the institution.''; and
            (B) by adding at the end the following:
    ``(f) Burdens of Proof.--The legal burdens of proof that prevail 
under subchapter III of chapter 12 of title 5, United States Code, shall 
govern adjudication of protected activities under this section.''; and
        (2) in paragraph (2)--
            (A) by striking ``or Federal Reserve bank'' and inserting 
        ``Federal reserve bank, or any person who is performing, 
        directly or indirectly, any function or service on behalf of the 
        Corporation'';
            (B) by striking ``any possible violation of any law or 
        regulation by'' and inserting ``any possible violation of any 
        law or regulation, gross mismanagement, a gross waste of funds, 
        an abuse of authority, or a substantial and specific danger to 
        public health or safety by'';
            (C) in subparagraph (B), by striking ``or'' at the end;
            (D) in subparagraph (C), by striking the period at the end 
        and inserting ``; or''; and
            (E) by adding at the end the following new subparagraph:
            ``(D) the person, or any officer or employee of the person, 
        who employs such employee.''.
    (b) Amendments to the Federal Home Loan Bank Act.--Section 21A(q) of 
the Federal Home Loan Bank Act (12 U.S.C. 1441a(q)) is amended--
        (1) in paragraph (1), by striking ``regarding'' and all that 
    follows through the end of the sentence and inserting the following: 
    ``regarding--
            ``(A) a possible violation of any law or regulation; or
            ``(B) gross mismanagement, a gross waste of funds, an abuse 
        of authority, or a substantial and specific danger to public 
        health or safety;
    by the Corporation, the Thrift Depositor Protection Oversight Board, 
    or such person or any director, officer, or employee of the 
    Corporation, the Thrift Depositor Protection Oversight Board, or the 
    person.''; and
        (2) by inserting after paragraph (4) the following:
        ``(5) Burdens of proof.--The legal burdens of proof that prevail 
    under subchapter III of chapter 12 of title 5, United States Code, 
    shall govern adjudication of protected activities under this 
    subsection.''.

SEC. 22. FDIC ASSET DISPOSITION DIVISION.

    (a) In General.--Section 1 of the Federal Deposit Insurance Act (12 
U.S.C. 1811) is amended--
        (1) by striking ``Sec. 1. There is hereby created'' and 
    inserting the following:

``SECTION 1. FEDERAL DEPOSIT INSURANCE CORPORATION.

    ``(a) Establishment of Corporation.--There is hereby established''; 
and
        (2) by adding at the end the following new subsection:
    ``(b) Asset Disposition Division.--
        ``(1) Establishment.--The Corporation shall have a separate 
    division of asset disposition.
        ``(2) Management.--The division of asset disposition shall have 
    an administrator who shall be appointed by the Board of Directors.
        ``(3) Responsibilities of division.--The division of asset 
    disposition shall carry out all of the responsibilities of the 
    Corporation under this Act relating to the liquidation of insured 
    depository institutions and the disposition of assets of such 
    institutions.''.
    (b) Effective Date.--The amendments made by subsection (a) shall 
become effective on July 1, 1995.

SEC. 23. PRESIDENTIALLY APPOINTED INSPECTOR GENERAL FOR FDIC.

    (a) Amendments to the Inspector General Act of 1978.--The Inspector 
General Act of 1978 (5 U.S.C. App.) is amended--
        (1) in section 11--
            (A) in paragraph (1), by striking ``the chief executive 
        officer of the Resolution Trust Corporation;'' and inserting 
        ``the chief executive officer of the Resolution Trust 
        Corporation; and the Chairperson of the Federal Deposit 
        Insurance Corporation;''; and
            (B) in paragraph (2), by inserting ``the Federal Deposit 
        Insurance Corporation,'' after ``Resolution Trust 
        Corporation,'';
        (2) by inserting after section 8B the following new section:

``SEC. 8C. SPECIAL PROVISIONS CONCERNING THE FEDERAL DEPOSIT INSURANCE 
              CORPORATION.

    ``(a) Delegation.--The Chairperson of the Federal Deposit Insurance 
Corporation may delegate the authority specified in the second sentence 
of section 3(a) to the Vice Chairperson of the Board of Directors of the 
Federal Deposit Insurance Corporation, but may not delegate such 
authority to any other officer or employee of the Corporation.
    ``(b) Personnel.--Notwithstanding paragraphs (7) and (8) of section 
6(a), the Inspector General of the Federal Deposit Insurance Corporation 
may select, appoint, and employ such officers and employees as may be 
necessary for carrying out the functions, powers, and duties of the 
Office of Inspector General and to obtain the temporary or intermittent 
services of experts or consultants or an organization of experts or 
consultants, subject to the applicable laws and regulations that govern 
such selections, appointments, and employment, and the obtaining of such 
services, within the Federal Deposit Insurance Corporation.'';
        (3) by redesignating sections 8C through 8F as sections 8D 
    through 8G, respectively; and
        (4) in section 8F(a)(2), as redesignated, by striking ``the 
    Federal Deposit Insurance Corporation,''.
    (b) Position at Level IV of the Executive Schedule.--Section 5315 of 
title 5, United States Code, is amended by inserting after ``Inspector 
General, Small Business Administration.'' the following:
    ``Inspector General, Federal Deposit Insurance Corporation.''.
    (c) Transition Period.--
        (1) Current service.--Except as otherwise provided by law, the 
    individual serving as the Inspector General of the Federal Deposit 
    Insurance Corporation before the date of enactment of this Act may 
    continue to serve in such position until the earlier of--
            (A) the date on which the President appoints a successor 
        under section 3(a) of the Inspector General Act of 1978; or
            (B) the date which is 6 months after the date of enactment 
        of this Act.
        (2) Definition.--For purposes of paragraph (1), the term 
    ``successor'' may include the individual holding the position of 
    Inspector General of the Federal Deposit Insurance Corporation on or 
    after the date of enactment of this Act.

SEC. 24. DEPUTY CHIEF EXECUTIVE OFFICER.

    Section 21A(b)(8) of the Federal Home Loan Bank Act (12 U.S.C. 
1441a(b)(8)) is amended by adding at the end the following new 
subparagraphs:
            ``(E) Deputy chief executive officer.--
                ``(i) In general.--There is hereby established the 
            position of deputy chief executive officer of the 
            Corporation.
                ``(ii) Appointment.--The deputy chief executive officer 
            of the Corporation shall--

                    ``(I) be appointed by the Chairperson of the Thrift 
                Depositor Protection Oversight Board, with the 
                recommendation of the chief executive officer; and
                    ``(II) be an employee of the Federal Deposit 
                Insurance Corporation in accordance with subparagraph 
                (B)(i).

                ``(iii) Duties.--The deputy chief executive officer 
            shall perform such duties as the chief executive officer may 
            require.
            ``(F) Acting chief executive officer.--In the event of a 
        vacancy in the position of chief executive officer or during the 
        absence or disability of the chief executive officer, the deputy 
        chief executive officer shall perform the duties of the position 
        as the acting chief executive officer.''.

SEC. 25. DUE PROCESS PROTECTIONS RELATING TO ATTACHMENT OF ASSETS.

    Section 8 of the Federal Deposit Insurance Act (12 U.S.C. 1818) is 
amended--
        (1) by striking subsection (i)(4)(B) and inserting the following 
    new subparagraph:
            ``(B) Standard.--
                ``(i) Showing.--Rule 65 of the Federal Rules of Civil 
            Procedure shall apply with respect to any proceeding under 
            subparagraph (A) without regard to the requirement of such 
            rule that the applicant show that the injury, loss, or 
            damage is irreparable and immediate.
                ``(ii) State proceeding.--If, in the case of any 
            proceeding in a State court, the court determines that rules 
            of civil procedure available under the laws of such State 
            provide substantially similar protections to a party's right 
            to due process as Rule 65 (as modified with respect to such 
            proceeding by clause (i)), the relief sought under 
            subparagraph (A) may be requested under the laws of such 
            State.''; and
        (2) in subsection (b), by adding at the end the following new 
    paragraph:
        ``(10) Standard for certain orders.--No authority under this 
    subsection or subsection (c) to prohibit any institution-affiliated 
    party from withdrawing, transferring, removing, dissipating, or 
    disposing of any funds, assets, or other property may be exercised 
    unless the appropriate Federal banking agency meets the standards of 
    Rule 65 of the Federal Rules of Civil Procedure, without regard to 
    the requirement of such rule that the applicant show that the 
    injury, loss, or damage is irreparable and immediate.''.

SEC. 26. GAO STUDIES REGARDING FEDERAL REAL PROPERTY DISPOSITION.

    (a) RTC Affordable Housing Program.--
        (1) Study.--The Comptroller General of the United States shall 
    conduct a study of the program carried out by the Resolution Trust 
    Corporation pursuant to section 21A(c) of the Federal Home Loan Bank 
    Act to determine the effectiveness of such program in providing 
    affordable homeownership and rental housing for very low-, low-, and 
    moderate-income families. The study shall examine the procedures 
    used under the program to sell eligible single family properties, 
    eligible condominium properties, and eligible multifamily housing 
    properties, the characteristics and numbers of purchasers of such 
    properties, and the amount of and reasons for any losses incurred by 
    the Resolution Trust Corporation in selling properties under the 
    program.
        (2) Report.--Not later than 6 months after the date of enactment 
    of this Act, the Comptroller General shall submit a report to the 
    Congress on the results of the study required under paragraph (1), 
    which shall describe any findings under the study and contain any 
    recommendations of the Comptroller General for improving the 
    effectiveness of such program.
    (b) Single Agency for Real Property Disposition.--
        (1) Study.--The Comptroller General of the United States shall 
    conduct a study to determine the feasibility and effectiveness of 
    establishing a single Federal agency responsible for selling and 
    otherwise disposing of real property owned or held by the Department 
    of Housing and Urban Development, the Farmers Home Administration of 
    the Department of Agriculture, the Federal Deposit Insurance 
    Corporation, and the Resolution Trust Corporation. The study shall 
    examine the real property disposition procedures of such agencies 
    and corporations, analyze the feasibility of consolidating such 
    procedures through such single agency, and determine the 
    characteristics and authority necessary for any such single agency 
    to efficiently carry out such disposition activities.
        (2) Report.--Not later than 12 months after the date of 
    enactment of this Act, the Comptroller General shall submit a report 
    to the Congress on the study required under paragraph (1), which 
    shall describe any findings under the study and contain any 
    recommendations of the Comptroller General for the establishment of 
    such single agency.

SEC. 27. EXTENSION OF RTC POWER TO BE APPOINTED AS CONSERVATOR OR 
              RECEIVER.

    (a) Extension of Duty To Be Appointed as Conservator or Receiver.--
Section 21A(b) of the Federal Home Loan Bank Act (12 U.S.C. 1441a(b)) is 
amended--
        (1) in paragraph (3)(A)(ii), by striking ``October 1, 1993'' and 
    inserting ``such date as is determined by the Chairperson of the 
    Thrift Depositor Protection Oversight Board, but not earlier than 
    January 1, 1995, and not later than July 1, 1995''; and
        (2) in paragraph (6), by striking ``October 1, 1993'' each place 
    such term appears and inserting ``such date as is determined by the 
    Chairperson of the Thrift Depositor Protection Oversight Board under 
    paragraph (3)(A)(ii)''.
    (b) Appointment of a Receiver by the Director of the Office of 
Thrift Supervision.--Section 11(c)(6)(B) of the Federal Deposit 
Insurance Act (12 U.S.C. 1821(c)(6)(B)) is amended--
        (1) in clause (i), by striking ``October 1, 1993'' and inserting 
    ``such date as is determined by the Chairperson of the Thrift 
    Depositor Protection Oversight Board under section 21A(b)(3)(A)(ii) 
    of the Federal Home Loan Bank Act'';
        (2) in clauses (ii) and (iii), by striking ``after September 30, 
    1993'' each place such term appears and inserting ``on or after the 
    date determined by the Chairperson of the Thrift Depositor 
    Protection Oversight Board under section 21A(b)(3)(A)(ii) of the 
    Federal Home Loan Bank Act''; and
        (3) in clause (ii), by striking ``on or before'' and inserting 
    ``before''.

SEC. 28. FINAL REPORTS ON RTC AND SAIF FUNDING.

    (a) In General.--
        (1) RTC report.--The Chairperson of the Thrift Depositor 
    Protection Oversight Board shall prepare and submit to the Committee 
    on Banking, Housing, and Urban Affairs of the Senate and the 
    Committee on Banking, Finance and Urban Affairs of the House of 
    Representatives, a final report containing a detailed description of 
    the purposes for which the funds made available to the Resolution 
    Trust Corporation under this Act were used.
        (2) SAIF report.--The Chairperson of the Federal Deposit 
    Insurance Corporation shall prepare and submit to the Committee on 
    Banking, Housing, and Urban Affairs of the Senate and the Committee 
    on Banking, Finance and Urban Affairs of the House of 
    Representatives a final report containing a detailed description of 
    the purposes for which the funds made available to the Savings 
    Association Insurance Fund under this Act were used.
    (b) Time for Submission.--The reports described in subsection (a) 
shall be transmitted--
        (1) not later than 45 days after the final expenditure of funds 
    provided for under this Act by the Resolution Trust Corporation; and
        (2) not later than 45 days after the final expenditure of funds 
    authorized to be provided under this Act by the Savings Association 
    Insurance Fund.

SEC. 29. GENERAL COUNSEL OF THE RESOLUTION TRUST CORPORATION.

    Section 21A(b)(8) of the Federal Home Loan Bank Act (12 U.S.C. 
1441a(b)(8)) is amended by adding after subparagraph (F) (as added by 
section 24 of this Act) the following new subparagraph:
            ``(G) General counsel.--There is established the Office of 
        General Counsel of the Corporation. The chief executive officer, 
        with the concurrence of the Chairperson of the Thrift Depositor 
        Protection Oversight Board, may appoint the general counsel, who 
        shall be an employee of the Federal Deposit Insurance 
        Corporation, in accordance with subparagraph (B)(i). The general 
        counsel shall perform such duties as the chief executive officer 
        may require.''.

SEC. 30. AUTHORITY TO EXECUTE CONTRACTS.

    Section 21A of the Federal Home Loan Bank Act (12 U.S.C. 1441a) is 
amended by adding after subsection (x) (as added by section 5 of this 
Act) the following new subsection:
    ``(y)  Authority To Execute Contracts.--
        ``(1) Authorized persons.--A person may execute a contract on 
    behalf of the Corporation for the provision of goods or services 
    only if--
            ``(A) that person--
                ``(i) is a warranted contracting officer appointed by 
            the Corporation, or is a managing agent of a savings 
            association under the conservatorship of the Corporation; 
            and
                ``(ii) provides appropriate certification or other 
            identification, as required by the Corporation in accordance 
            with paragraph (2);
            ``(B) the notice described in paragraph (4) is included in 
        the written contract; and
            ``(C) that person has appropriate authority to execute the 
        contract on behalf of the Corporation in accordance with the 
        notice published by the Corporation in accordance with paragraph 
        (5).
        ``(2) Presentation of identification.--Prior to executing any 
    contract described in paragraph (1) with any person, a warranted 
    contracting officer or managing agent shall present to that person--
            ``(A) a valid certificate of appointment (or such other 
        identification as may be required by the Corporation) that is 
        signed by the appropriate officer of the Corporation; or
            ``(B) a copy of such certificate, authenticated by the 
        Corporation.
        ``(3) Treatment of unauthorized contracts.--A contract described 
    in paragraph (1) that fails to meet the requirements of this 
    section--
            ``(A) shall be null and void; and
            ``(B) shall not be enforced against the Corporation or its 
        agents by any court.
        ``(4) Inclusion of notice in contract terms.--Each written 
    contract described in paragraph (1) shall contain a clear and 
    conspicuous statement (in boldface type) in immediate proximity to 
    the space reserved for the signatures of the contracting parties as 
    follows:
        ```Only warranted contracting officers appointed by the 
    Resolution Trust Corporation or managing agents of associations 
    under the conservatorship of the Resolution Trust Corporation have 
    the authority to execute contracts on behalf of the Resolution Trust 
    Corporation. Such persons have certain limits on their contracting 
    authority. The nature and extent of their contracting authority 
    levels are published in the Federal Register.
        ```A warranted contracting officer or a managing agent must 
    present identification in the form of a signed certificate of 
    appointment (or an authenticated copy of such certificate) or other 
    identification, as required by the Corporation, prior to executing 
    any contract on behalf of the Resolution Trust Corporation.
        ```Any contract that is not executed by a warranted contracting 
    officer or the managing agent of a savings association under the 
    conservatorship of the Resolution Trust Corporation, acting in 
    conformity with his or her contracting authority, shall be null and 
    void, and will not be enforceable by any court.'.
        ``(5) Notice of requirements.--Not later than 30 days after the 
    date of enactment of this subsection, the Corporation shall publish 
    notice in the Federal Register of--
            ``(A) the requirements for appointment by the Corporation as 
        a warranted contracting officer; and
            ``(B) the nature and extent of the contracting authority to 
        be exercised by any warranted contracting officer or managing 
        agent.
        ``(6) Exception.--This section does not apply to--
            ``(A) any contract between the Corporation and any other 
        person governing the purchase or assumption by that person of--
                ``(i) the ownership of a savings association under the 
            conservatorship of the Corporation; or
                ``(ii) the assets or liabilities of a savings 
            association under the conservatorship or receivership of the 
            Corporation; or
            ``(B) any contract executed by the Inspector General of the 
        Corporation (or any designee thereof) for the provision of goods 
        or services to the Office of the Inspector General of the 
        Corporation.
        ``(7) Execution of contracts.--For purposes of this subsection, 
    the execution of a contract includes all modifications to such 
    contract.
        ``(8) Effective date.--The requirements of this subsection shall 
    apply to all contracts described in paragraph (1) executed on or 
    after the date which is 45 days after the date of enactment of this 
    subsection.''.

SEC. 31. RTC CONTRACTING.

    Section 21A of the Federal Home Loan Bank Act (12 U.S.C. 1441a) is 
amended by adding after subsection (y) (as added by section 30 of this 
Act) the following new subsection:
    ``(z) Additional Contracting Requirements.--
        ``(1) In general.--No person shall execute, on behalf of the 
    Corporation, any contract, or modification to a contract, for goods 
    or services exceeding $100,000 in value unless the person executing 
    the contract or modification states in writing that--
            ``(A) the contract or modification is for a fixed price, the 
        person has received a written cost estimate for the contract or 
        modification, or a cost estimate cannot be obtained as a 
        practical matter with an explanation of why such a cost estimate 
        cannot be obtained as a practical matter;
            ``(B) the person has received the written statement 
        described in paragraph (2); and
            ``(C) the person is satisfied that the contract or 
        modification to be executed has been approved by a person 
        legally authorized to do so pursuant to a written delegation of 
        authority.
        ``(2) Written delegation of authority.--A person who authorizes 
    a contract, or a modification to a contract, involving the 
    Corporation for goods or services exceeding $100,000 in value shall 
    state, in writing, that he or she has been delegated the authority, 
    pursuant to a written delegation of authority, to authorize that 
    contract or modification.
        ``(3) Effect of failure to comply.--The failure of any person 
    executing a contract, or a modification of a contract, on behalf of 
    the Corporation, or authorizing such a contract or modification of a 
    contract, to comply with the requirements of this subsection shall 
    not void, or serve as grounds to void or rescind, any otherwise 
    properly executed contract.''.

SEC. 32. DEFINITION OF PROPERTY.

    (a) Section 9102(e) of the Department of Defense Appropriations Act, 
1990 (16 U.S.C. 396f note) is amended by striking ``real, personal,'' 
and inserting ``real, personal (including intangible assets sold or 
offered by the Federal Deposit Insurance Corporation or the Resolution 
Trust Corporation, such as financial instruments, notes, loans, and 
bonds),''.
    (b) Section 12(b)(7)(vii) of Public Law 94-204 (43 U.S.C. 1611 note) 
is amended by striking ``real, personal,'' and inserting ``real, 
personal (including intangible assets sold or offered by the Federal 
Deposit Insurance Corporation or the Resolution Trust Corporation, such 
as financial instruments, notes, loans, and bonds),''.

SEC. 33. SENSE OF THE CONGRESS RELATING TO PARTICIPATION OF DISABLED 
              AMERICANS IN CONTRACTING FOR DELIVERY OF SERVICES TO 
              FINANCIAL INSTITUTION REGULATORY AGENCIES.

    (a) Findings.--The Congress finds that Congress, in adopting the 
Americans with Disabilities Act of 1990, specifically found that--
        (1) some 43,000,000 Americans have one or more physical or 
    mental disabilities, and this number is increasing;
        (2) discrimination against individuals with disabilities 
    persists in such critical areas as employment, housing, public 
    accommodations, education, transportation, communication, 
    recreation, institutionalization, health services, voting, and 
    access to public services;
        (3) individuals with disabilities continually encounter various 
    forms of discrimination, including outright intentional exclusion, 
    the discriminatory effects of architectural, transportation, and 
    communication barriers, overprotective rules and policies, failure 
    to make modifications to existing facilities and practices, 
    exclusionary qualification standards and criteria, segregation, and 
    relegation to lesser services, programs, activities, benefits, jobs, 
    or other opportunities;
        (4) census data, national polls, and other studies have 
    documented that people with disabilities, as a group, occupy an 
    inferior status in our society, and are severely disadvantaged 
    socially, vocationally, economically, and educationally;
        (5) individuals with disabilities are a discrete and insular 
    minority who have been faced with restrictions and limitations, 
    subjected to a history of purposeful unequal treatment, and 
    relegated to a position of political powerlessness in our society, 
    based on characteristics that are beyond the control of such 
    individuals and resulting from stereotypic assumptions not truly 
    indicative of the individual ability of such individuals to 
    participate in, and contribute to, society;
        (6) the Nation's proper goals regarding individuals with 
    disabilities are to assure equality of opportunity, full 
    participation, independent living, and economic self-sufficiency for 
    such individuals; and
        (7) the continuing existence of unfair and unnecessary 
    discrimination and prejudice denies people with disabilities the 
    opportunity to compete on an equal basis and to pursue those 
    opportunities for which our free society is justifiably famous, and 
    costs the United States billions of dollars in unnecessary expenses 
    resulting from dependency and nonproductivity.
    (b) Sense of the Congress.--It is the sense of the Congress that the 
chief executive officer of the Resolution Trust Corporation, the 
Director of the Office of Thrift Supervision, the Chairperson of the 
Board of Directors of the Federal Deposit Insurance Corporation, the 
Comptroller of the Currency, and the Chairperson of the Federal Housing 
Finance Board should take all necessary steps within each such agency to 
ensure that individuals with disabilities and entities owned by 
individuals with disabilities, including financial institutions, 
investment banking firms, underwriters, asset managers, accountants, and 
providers of legal services, are availed of all opportunities to compete 
in a manner which, at a minimum, does not discriminate on the basis of 
their disability for contracts entered into by the agency to manage the 
institutions and their assets for which the agency is responsible or to 
perform such other functions authorized under any law applicable to such 
agency.

SEC. 34. REPORT TO CONGRESS BY SPECIAL COUNSEL.

    (a) Report.--Not later than 90 days after the date of enactment of 
this Act, the Special Counsel appointed under section 2537 of the Crime 
Control Act of 1990 (28 U.S.C. 509 note) shall submit to the Committee 
on Banking, Housing, and Urban Affairs of the Senate and the Committee 
on Banking, Finance and Urban Affairs of the House of Representatives a 
report on the status of its efforts to monitor and improve the 
collection of fines and restitution in cases involving fraud and other 
criminal activity in and against the financial services industry.
    (b) Contents.--The report required under subsection (a) shall 
include--
        (1) information on the amount of fines and restitution assessed 
    in cases involving fraud and other criminal activity in and against 
    the financial services industry, the amount of such fines and 
    restitution collected, and an explanation of any difference in those 
    amounts;
        (2) an explanation of the procedures for collecting and 
    monitoring restitution assessed in cases involving fraud and other 
    criminal activity in and against the financial services industry and 
    any suggested improvements to such procedures;
        (3) an explanation of the availability under any provision of 
    law of punitive measures if restitution and fines assessed in such 
    cases are not paid;
        (4) information concerning the efforts by the Department of 
    Justice to <!!>comply with guidelines for fine and restitution 
    collection and reporting procedures developed by the interagency 
    group established by the Attorney General in accordance with section 
    2539 of the Crime Control Act of 1990;
        (5) any recommendations for additional resources or legislation 
    necessary to improve collection efforts; and
        (6) information concerning the status of the National Fine 
    Center of the Administrative Office of the United States Courts.

SEC. 35. REPORTING REQUIREMENTS.

    The Resolution Trust Corporation shall provide semi-annual reports 
to the Committee on Banking, Housing, and Urban Affairs of the Senate 
and the Committee on Banking, Finance and Urban Affairs of the House of 
Representatives. Such reports shall--
        (1) detail procedures for expediting the registration and 
    contracting for selecting auctioneers for asset sales with 
    anticipated gross proceeds of not more than $1,500,000;
        (2) list by name and geographic area the number of auction 
    contractors which have been registered and qualified to perform 
    services for the Resolution Trust Corporation; and
        (3) list by name, address of home office, location of assets 
    disposed, and gross proceeds realized, the number of auction 
    contractors which have been awarded contracts.

SEC. 36. CONTINUATION OF CONSERVATORSHIPS OR RECEIVERSHIPS.

    Section 21A(b)(6) of the Federal Home Loan Bank Act (12 U.S.C. 
1441a(b)(6)) is amended--
        (1) by striking ``If the Corporation'' and inserting the 
    following:
            ``(A) In general.--If the Corporation''; and
        (2) by adding at the end the following new subparagraph:
            ``(B) SAIF-insured banks.--Notwithstanding any other 
        provision of Federal or State law, if the Federal Deposit 
        Insurance Corporation is appointed as conservator or receiver 
        for any Savings Association Insurance Fund member that has 
        converted to a bank charter and otherwise meets the criteria in 
        paragraph (3)(A) or (6)(A), the Federal Deposit Insurance 
        Corporation may tender such appointment to the Corporation, and 
        the Corporation shall accept such appointment, if the 
        Corporation is authorized to accept such appointment under this 
        section.''.

SEC. 37. EXCEPTIONS FOR CERTAIN TRANSACTIONS.

    (a) Transactions Involving Certain Institutions.--Section 
11(a)(4)(B) of the Federal Deposit Insurance Act shall not prohibit 
assistance from the Bank Insurance Fund that otherwise meets all the 
criteria established in section 13(c) of such Act from being provided to 
an insured depository institution that became wholly-owned, either 
directly or through a wholly-owned subsidiary, by an entity or 
instrumentality of a State government during the period beginning on 
January 1, 1992, and ending on the date of enactment of this Act.
    (b) Transactions Involving the FDIC as Receiver.--Notwithstanding 
the extension, pursuant to section 27, of the Resolution Trust 
Corporation's jurisdiction to be appointed conservator or receiver of 
certain savings associations after September 30, 1993, no provision of 
this Act or any amendment made by this Act shall invalidate or otherwise 
affect--
        (1) any appointment of the Federal Deposit Insurance Corporation 
    as receiver for any savings association that became effective before 
    the date of enactment of this Act; or
        (2) any action taken by the Federal Deposit Insurance 
    Corporation as such receiver before, on, or after such date of 
    enactment.

SEC. 38. BANK DEPOSIT FINANCIAL ASSISTANCE PROGRAM.

    (a) In General.--Effective December 19, 1993, section 7(i) of the 
Federal Deposit Insurance Act (12 U.S.C. 1817(i)) is amended--
        (1) by redesignating paragraph (3) as paragraph (4); and
        (2) by inserting after paragraph (2), the following new 
    paragraph:
        ``(3) Bank deposit financial assistance program.--
    Notwithstanding paragraph (1), funds deposited by an insured 
    depository institution pursuant to the Bank Deposit Financial 
    Assistance Program of the Department of Energy shall be separately 
    insured in an amount not to exceed $100,000 for each insured 
    depository institution depositing such funds.''.
    (b) Technical and Conforming Amendment.--Section 11(a)(1)(C) of the 
Federal Deposit Insurance Act (12 U.S.C. 1821(a)(1)(C)) is amended by 
striking ``section 7(i)(1)'' and inserting ``paragraph (1) or (2) of 
section 7(i) or any funds described in section 7(i)(3)''.







                                Speaker of the House of Representatives.







                             Vice President of the United States and    
                                                President of the Senate.