[Unified Agenda of Federal Regulations]
[Resolution Trust Corporation Semiannual Regulatory Agenda]
[From the U.S. Government Printing Office, www.gpo.gov]


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Part LX




 
Resolution Trust Corporation





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Semiannual Regulatory Agenda


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RESOLUTION TRUST CORPORATION (RTC)                                     
  
  
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RESOLUTION TRUST CORPORATION

12 CFR Ch. III

Semiannual Agenda of Regulations

AGENCY: Resolution Trust Corporation.

ACTION: Publication of semiannual agenda of regulations.

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SUMMARY: The Resolution Trust Corporation (RTC) is hereby publishing 
items for the April 1994 regulatory agenda. The agenda contains 
information about the RTC's current and completed rulemakings.

FOR FURTHER INFORMATION CONTACT: Persons identified under regulations 
listed in the agenda. Except as indicated, the address for all staff 
identified in the agenda is Resolution Trust Corporation, 801 17th 
Street NW., Washington, DC 20434-0001.

SUPPLEMENTARY INFORMATION: The RTC was created on August 9, 1989, as an 
instrumentality of the United States by title V of the Financial 
Institutions Reform, Recovery, and Enforcement Act of 1989 (FIRREA). 
Under FIRREA, the RTC was given powers to adopt such rules, 
regulations, standard policies, procedures, guidelines, and statements 
as the Corporation considers necessary or appropriate to carry out its 
mission. Twice each year, the RTC publishes an agenda of regulations to 
inform the public of its regulatory actions and to enhance public 
participation in the rulemaking process. Publication of the agenda is 
in accordance with the Regulatory Flexibility Act (5 U.S.C. 601 et 
seq.). Interested persons may petition the RTC for the issuance, 
amendment, or repeal of any regulations by submitting a written 
petition to the Secretary, Resolution Trust Corporation, Washington, DC 
20434. Petitioners should include complete and concise statements of 
their interest in the subject matter and why the petitions should be 
granted.

Dated: March 2, 1994.

Resolution Trust Corporation.

John M. Buckley, Jr.,

Secretary.
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RESOLUTION TRUST CORPORATION (RTC)                        Prerule Stage
  
  
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5001.  QUALIFICATION OF, ETHICAL STANDARDS OF CONDUCT FOR, AND 
RESTRICTIONS ON THE USE OF CONFIDENTIAL INFORMATION BY INDEPENDENT 
CONTRACTORS

Legal Authority:  12 USC 1441a

CFR Citation:  12 CFR 1606

Legal Deadline: None

Abstract: This regulation establishes the minimum qualifications, 
ethical standards of conduct, and the restrictions on the use of 
confidential information relating to independent contractors who seek 
or contract to provide services to the Resolution Trust Corporation 
(RTC) in connection with its management resolution of failing and 
failed thrift institutions. The RTC is required by Section 501 of the 
Financial Institutions Reform, Recovery, and Enforcement Act of 1989 
(FIRREA) to promulgate regulations applicable to independent 
contractors governing conflicts of interest, ethical responsibilities, 
and the use of confidential information. The original regulations were 
established in 1989 - 1990. They are now being revised to correct 
technical errors and to provide clarification of issues in light of 
their application.

Timetable:
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Action                            Date                      FR Cite

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ANPRM                           04/00/94
ANPRM Comment Period End        05/00/94

Small Entities Affected: None

Government Levels Affected: None

Agency Contact: Thomas E. Nixon, Ethics Specialist, Resolution Trust 
Corporation, 801 17th Street NW., Washington, DC 20434, 202 416-2025

RIN: 3205-AA23
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RESOLUTION TRUST CORPORATION (RTC)                     Final Rule Stage
  
  
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5002. AFFORDABLE HOUSING DISPOSITION PROGRAM

Significance:
Subject to OMB review: Undetermined

Legal Authority:  12 USC 1441a(c)

CFR Citation:  12 CFR 1609

Legal Deadline: None

Abstract: This regulation will amend the existing regulation to conform 
it to the recently enacted amendments to the Federal Home Loan Bank Act 
(the RTC Completion Act). In addition, the regulation will clarify and 
resolve some outstanding issues relating to the marketing and sale of 
affordable housing properties.

Timetable:
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Action                            Date                      FR Cite

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Interim Final Rule              05/06/92                    57 FR 19500
Interim Final Rule Effective    05/06/92                    57 FR 19500
Interim Final Rule Comment 
Period End                      07/06/92                    57 FR 19500
Final Action                    04/00/94
Final Action Effective          04/00/94

Small Entities Affected: Organizations

Government Levels Affected: State, Local

Agency Contact: Barry Wides, Deputy Director, Affordable Housing and 
Disposition Program, Resolution Trust Corporation, 801 17th St NW., 
Washington, DC 20434, 202 416-7138

RIN: 3205-AA03
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RESOLUTION TRUST CORPORATION (RTC)                     Final Rule Stage
  
  
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5003. MINORITY- AND WOMEN-OWNED BUSINESS AND LAW FIRM PROGRAM

Legal Authority:  12 USC 1833e

CFR Citation:  12 CFR 1617

Legal Deadline: None

Abstract: The regulation sets forth the RTC's outreach program for 
minority- and women-owned businesses and minority- and women-owned law 
firms with respect to maximizing the inclusion of those businesses and 
firms in RTC's contracting efforts for outside services.

Timetable:
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Action                            Date                      FR Cite

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Interim Final Rule              08/10/92                    56 FR 40484
Interim Final Rule Effective    08/10/92                    56 FR 40484
Interim Final Rule Comment 
Period End                      10/09/92                    56 FR 40484
Final Action                    04/00/94
Final Action Effective          05/00/94

Small Entities Affected: None

Government Levels Affected: None

Agency Contact: Johnnie B. Booker, Vice President, Division of Minority 
and Women's Programs, Resolution Trust Corporation, 801 17th St. NW., 
Washington, DC 20434, 202 416-6925

RIN: 3205-AA08
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RESOLUTION TRUST CORPORATION (RTC)                     Final Rule Stage
  
  
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5004. SUSPENSION AND EXCLUSION OF REGISTERED CONTRACTORS AND RESCISSION 
OF CONTRACTS

Legal Authority:  12 USC 1441a(b)(10); 12 USC 1441a(b)(12); 12 USC 
1441a(p)

CFR Citation:  12 CFR 1618

Legal Deadline: None

Abstract: This regulation will provide for suspension and exclusion of 
registered contractors and rescission of contracts where contractor has 
engaged in various forms of misconduct.

Timetable:
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Action                            Date                      FR Cite

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Interim Final Rule              07/05/91                    56 FR 30836
Interim Final Rule Effective    07/05/91                    56 FR 30836
Interim Final Rule Comment 
Period End                      10/30/91                    56 FR 30836
Final Action                    04/00/94
Final Action Effective          05/00/94

Small Entities Affected: None

Government Levels Affected: None

Agency Contact: Martin Blumenthal, Contractor Ethics Program Manager, 
Resolution Trust Corporation, 801 17th St. NW., Washington, DC 20434, 
202 416-2029

RIN: 3205-AA09
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RESOLUTION TRUST CORPORATION (RTC)                     Final Rule Stage
  
  
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5005. EMPLOYEE RESPONSIBILITIES AND CONDUCT

Legal Authority:  12 USC 1441a(n)(2); EO 12674; EO 12731

CFR Citation:  12 CFR 1605

Legal Deadline: None

Abstract: The Resolution Trust Corporation (RTC) has determined to 
follow the Office of Government Ethics Regulations (OGE) on 
Confidential and Public Financial Disclosure, Standards of Conduct and 
Post-Employment Rules as applied to Federal Employees. This action 
revokes those sections of the RTC's regulation on Employee 
Responsibilities and Conduct, which would conflict with or be 
superseded by the OGE Regulations and reaffirms those sections not in 
conflict with or superseded by the OGE Regulations.

Timetable:
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Action                            Date                      FR Cite

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Interim Final Rule              02/12/93                     58 FR 8220
Interim Final Rule Effective    02/12/93                     58 FR 8220
Interim Final Rule Comment 
Period End                      03/15/93                     58 FR 8220
Final Action                    04/00/94
Final Action Effective          05/00/94

Small Entities Affected: None

Government Levels Affected: None

Additional Information: Upon OGE approval and publication of the RTC's 
supplemental standards of conduct regulations, 12 CFR 1605 will be 
deleted. The RTC's supplemental standards of conduct regulations will 
be published using OGE's numbering found in Title 5. These regulations 
were to have been approved by February3, 1994. However, OGE has since 
grandfathered all agencies previous regulations until they can be 
approved under Title 5. The RTC's Supplemental Standards of Conduct 
regulations which will be found at 5 CFR 7401 can not be approved until 
OGE approves the FDIC's supplemental standards of conduct regulations. 
FDIC has submitted three versions none of which were approved by OGE. 
Since OGE grandfathered the agency's regulations, the FDIC's 
supplemental regulation has become a low priority. RTC expects to 
submit its supplemental standards regulations as soon as is practical 
upon OGE's approval of FDIC's standards regulations. RTC will also 
submit a supplemental financial disclosure regulation at that same time 
to be found at 5 CFR 7402.

Agency Contact: Donald L. Rosholt, Employee Ethics Program Manager, 
Resolution Trust Corporation, 801 17th St. NW., Washington, DC 20434, 
202 416-6952

RIN: 3205-AA20
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RESOLUTION TRUST CORPORATION (RTC)                     Final Rule Stage
  
  
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5006.  DEFINITION OF PREDOMINANTLY MINORITY NEIGHBORHOOD

Significance:
Subject to OMB review: Undetermined

Legal Authority:  12 USC 1441a(b)(11); 12 USC 1441a(s); 12 USC 
1441a(w)(17)

CFR Citation:  12 CFR 1630

Legal Deadline: None

Abstract: This regulation defines the term ``predominantly minority 
neighborhood'' as used in Section 21A(s) and Section 21A(w)(17) of the 
Federal Home Loan Bank Act, as amended by the Resolution Trust 
Corporation Completion Act, Pub. L. No. 103-204. These sections provide 
certain benefits and preferences to minority acquirors of institutions 
or branches located in predominantly minority neighborhoods.

Timetable:
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Action                            Date                      FR Cite

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Interim Final Rule              02/24/94                     59 FR 8842
Interim Final Rule Effective    02/24/94                     59 FR 8842
Interim Final Rule Comment 
Period End                      03/28/94                     59 FR 8842
Final Action                    06/00/94
Final Action Effective          06/00/94

Small Entities Affected: None

Government Levels Affected: None

Agency Contact: Edward D. Thomas, Resolutions Analyst, Resolution Trust 
Corporation, 801 17th Street NW., Washington, DC 20434, 202 416-7179

RIN: 3205-AA21
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RESOLUTION TRUST CORPORATION (RTC)                     Final Rule Stage
  
  
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5007.  DISPOSITION OF REO AND NON-PERFORMING LOANS

Significance:
Subject to OMB review: Undetermined

Legal Authority:  12 USC 1441a(w)(2); 12 USC 1441a(w)(3); PL 103-204, 
Sec 3(a)

CFR Citation:  Not yet determined

Legal Deadline: None

Abstract: RTC will provide small investors the opportunity to buy real 
estate and loans owned by the RTC before putting them in a multi-asset 
initiative. Specifically, the regulations will require individual 
marketing of real estate for 120 days and, generally, a marketing 
analysis of certain real estate and real estate-related loans on an 
individual basis. No alternatives are being considered because the law 
is specific as to what must be done. No potential costs or benefits are 
expected from the program.

Timetable:
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Action                            Date                      FR Cite

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Interim Final Rule              06/00/94

Small Entities Affected: Businesses

Government Levels Affected: None

Agency Contact: Joseph W. Schantz, Asset Specialist, Resolution Trust 
Corporation, 801 17th Street NW., Washington DC 20434, 202 416-7302

RIN: 3205-AA22
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RESOLUTION TRUST CORPORATION (RTC)                    Completed Actions
  
  
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5008. PROCEDURES APPLICABLE TO RTC INVESTIGATIONS

Legal Authority:  12 USC 1441a(b)(12); 12 USC 1818(n); 12 USC 
1821(d)(2)(I); 12 USC 1441a(b)(4); 12 USC 1823(d)(3)(A)

CFR Citation:  12 CFR 1625

Legal Deadline: None

Abstract: This regulation will govern the conduct of investigations by 
the RTC which involve the issuance of investigative subpoenas.

Timetable:
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Action                            Date                      FR Cite

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NPRM                            07/27/92                    57 FR 33133
NPRM Comment Period End         08/26/92                    57 FR 33133
Final Action                    11/05/93                    58 FR 58938
Final Action Effective          11/05/93                    58 FR 58938

Small Entities Affected: None

Government Levels Affected: None

Agency Contact: Suzanne Rigby, Counsel, Resolution Trust Corporation, 
1717 H St. NW., Washington, DC 20434, 202 736-0314

RIN: 3205-AA11
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RESOLUTION TRUST CORPORATION (RTC)                    Completed Actions
  
  
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5009. QUALIFIED FINANCIAL CONTRACTS

Legal Authority:  12 USC 1821(d)(1); 12 USC 1821(d)(4)

CFR Citation:  12 CFR 1622

Legal Deadline: None

Abstract: This regulation will provide a ``safe harbor'' for qualified 
financial contracts (QFCs) with respect to the ``written agreement'' 
requirements of the Federal Deposit Insurance Act; will require RTC, as 
receiver, to notify, within a prescribed timeframe, the counterparties 
to QFCs of the transfer of their contracts, and that doing so would 
prevent the counterparties from exercising their liquidation or 
acceleration rights; and to impose upon the depository institutions 
that enter into QFCs certain recordkeeping requirements.

Timetable:
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Action                            Date                      FR Cite

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Withdrawn                       02/16/94

Small Entities Affected: None

Government Levels Affected: None

Agency Contact: Marc Goldstrom, Counsel, Resolution Trust Corporation, 
801 17th St. NW., Washington, DC 20434, 202 736-3104

RIN: 3205-AA12
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RESOLUTION TRUST CORPORATION (RTC)                    Completed Actions
  
  
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5010. PROGRAM FRAUD CIVIL REMEDIES AND PROCEDURES

Legal Authority:  31 USC 3809; 12 USC 1441a

CFR Citation:  12 CFR 1626

Legal Deadline: None

Abstract: The proposed regulation will provide procedures for assessing 
monetary penalties against persons or businesses that make false 
statements or claims to the RTC. The regulation should save money for 
the taxpayer by deterring fraud or misrepresentations.

Timetable:
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Action                            Date                      FR Cite

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NPRM                            11/18/92                    57 FR 54337
NPRM Comment Period End         12/18/92                    57 FR 54337
Final Action                    06/30/93                    58 FR 34870
Final Action Effective          07/30/93                    58 FR 34870

Small Entities Affected: None

Government Levels Affected: None

Agency Contact: Carl Gold, Counsel, Resolution Trust Corporation, 1717 
H Street NW., Washington, DC 20434, 202 736-0728

RIN: 3205-AA18
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RESOLUTION TRUST CORPORATION (RTC)                    Completed Actions
  
  
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5011. SERVICE OF PROCESS UPON THE RESOLUTION TRUST CORPORATION

Legal Authority:  12 USC 1441a(b)(4)(A); 12 USC 1441a(b)(9)(E); 12 USC 
1441a(b)(11)(A); 12 USC 1821(d)(2)

CFR Citation:  12 CFR 1627

Legal Deadline: None

Abstract: RTC functions in distinct capacities when acting as receiver 
or conservator for a savings association and when acting in its 
Corporate capacity. To recognize this functional distinction and to 
provide for service of process on those RTC officials who are most 
likely to be able to facilitate a prompt and constructive response, the 
regulation designates RTC's agents for service of process when acting 
in its various capacities. The action will impose no cost upon the 
public or the agency, since legal process must already be served upon 
some agent. It will confer a benefit by clarifying the manner of 
serving RTC in its various capacities and facilitating a prompt 
response.

Timetable:
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Action                            Date                      FR Cite

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Interim Final Rule              04/08/93                    58 FR 18144
Interim Final Rule Effective    04/08/93                    58 FR 18144
Interim Final Rule Comment 
Period End                      05/10/93                    58 FR 18144
Final Action                    02/09/94                     59 FR 5939
Final Action Effective          02/09/94                     59 FR 5939

Small Entities Affected: None

Government Levels Affected: None

Agency Contact: Gregg H. S. Golden, Counsel, Resolution Trust 
Corporation, RTC Litigation Section, 1717 H Street, NW., Room 10070, 
Washington, DC 20434-0001, 202 736-3042

RIN: 3205-AA19
[FR Doc. 94-5365 Filed 04-22-94; 8:45 am]
BILLING CODE 6714-01-F
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