[United States Government Manual]
[July 01, 1995]
[Pages 705-708]
[From the U.S. Government Publishing Office, www.gpo.gov]




THRIFT DEPOSITOR PROTECTION OVERSIGHT BOARD

808 Seventeenth Street NW., Washington, DC 20232
Phone, 202-416-2650
Chairman                                         Robert E. Rubin
Board of Directors:                                

  (Secretary of the Treasury)                    Robert E. Rubin
  (Chairman of the Board of                      Alan Greenspan
      Governors of the Federal 
      Reserve System)
  (Director, Office of Thrift                    Jonathan L. Fiechter, 
      Supervision)                                   Acting

[[Page 706]]

  (Chief Executive Officer,                      John E. Ryan, Acting
      Resolution Trust Corporation)
  (Chairman, Federal Deposit                     Ricki T. Helfer
      Insurance Corporation)
Independent Member                               Robert C. Larson
                                                 (vacancy)
Executive Director                               Dietra L. Ford
General Counsel                                  Richard H. Farina
Deputy Executive Directors:                        
  Government Affairs and Public                  Kenneth Colburn
      Liaison
  Finance                                        Thomas Elzey
  Oversight and Evaluation                       Neal Peterson
________________________________________________________________________
  
The principal duties of the Oversight Board are to review and evaluate 
the overall strategies, policies, and goals of the Resolution Trust 
Corporation and to approve, prior to implementation, the Corporation's 
financial plans, budgets, and periodic financing requests. The Oversight 
Board also reviews the Resolution Trust Corporation's overall 
performance, including its management activities, internal controls, and 
performance relative to budget plans. In addition, the Board monitors 
the implementation by the Corporation of the 10-point Management Reform 
Program instituted by the Secretary of the Treasury in his role as 
Oversight Board Chairman. It also regularly reports to Congress on the 
Resolution Trust Corporation's programs, progress, and funding needs.

The Thrift Depositor Protection Oversight Board, formerly the Oversight 
Board (of the Resolution Trust Corporation), was established as an 
instrumentality of the United States on August 9, 1989, by the Financial 
Institutions Reform, Recovery, and Enforcement Act of 1989 (12 U.S.C. 
1441a).
    The Board is governed by a seven-member directorate consisting of 
the Secretary of the Treasury, who is its Chairperson; the Chairman of 
the Board of Governors of the Federal Reserve System; the Chief 
Executive Officer of the Resolution Trust Corporation; the Chairman of 
the Federal Deposit Insurance Corporation; the Director of the Office of 
Thrift Supervision; and two independent members appointed by the 
President, with the advice and consent of the Senate.
    The day-to-day operations of the Board are conducted through its 
Executive Director and other officers and staff. The Board is required 
to transmit periodic reports to the Congress and the President, 
including: reports under the Inspector General Act; annual audits of 
Resolution Trust Corporation's financial statements; annual reports on 
Oversight Board and Corporation operations; semiannual reports (which 
are followed by appearances before the Senate and House Banking 
Committees); quarterly submissions of the Corporation's operating plans; 
quarterly reports on severely troubled institutions supervised by the 
Office of Thrift Supervision; and quarterly budget reports.

Activities

The Thrift Depositor Protection Oversight Board:
    --reviews and evaluates overall strategies, policies, and goals of 
the RTC for case resolutions, management and disposition of assets, and 
use of private contractors;
    --approves, prior to implementation, RTC financial plans, budgets, 
and periodic financing requests;
    --reviews RTC's regulations and procedures, not including its 
internal administrative practices or procedures or its determinations or 
actions with respect to case-specific matters;
    --reviews RTC's overall performance including its management 
activities, internal controls, and performance relative to approved 
budget plans;

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    --establishes and maintains a national advisory board to advise the 
Oversight Board on policies and programs for the disposition of real 
property assets of RTC institutions;
    --directs the operations of six regional advisory boards and a 
national advisory board, which provide advice to RTC and the Oversight 
Board on the disposition of real estate acquired from insolvent savings 
and loans;
    --provides support for the Affordable Housing Advisory Board on 
policies and programs related to the provision of affordable housing, 
including the operation of affordable housing programs;
    --provides advice regarding the merger of RTC's Affordable Housing 
Disposition Program into the Federal Deposit Insurance Corporation at 
the termination of RTC operations in December 1995;
    --maintains an Audit Committee to monitor RTC internal controls, 
monitors audit findings and recommendations of the RTC Inspector General 
and the General Accounting Office and RTC's responses to such findings, 
monitors the financial operations of RTC, and regularly reports findings 
and recommendations to RTC and the Oversight Board; and
    --directs activities of the Resolution Funding Corporation 
(REFCORP), a mixed-ownership Government corporation established with the 
sole purpose of providing financing for RTC.

For further information, contact the Director of Government and Public 
Affairs, Thrift Depositor Protection Oversight Board, 808 Seventeenth 
Street NW., Washington, DC 20232. Phone, 202-416-2622.

________________________________________________________________________