    [Public Papers of the Presidents of the United States: William J. Clinton (1993, Book II)]
    [December 17, 1993]
    [Page 2188]
    [From the U.S. Government Publishing Office www.gpo.gov]

    [[Page 2188]]

    Statement on Signing the Resolution Trust Corporation Completion Act
    December 17, 1993

        Today I am pleased to sign into law S. 714, the ``Resolution Trust
    Corporation Completion Act.'' This legislation enables the Federal
    Government to honor its pledge to protect the nearly 3 million
    depositors in the thrifts controlled by the Resolution Trust Corporation
    (RTC) that await final resolution. It represents a decisive step toward
    bringing the savings and loan debacle to a conclusion.
        The Act removes the April 1, 1992, expiration date on $18.3 billion
    that the Congress appropriated in 1991, thereby making the money
    available to protect depositors. This amount should enable the RTC to
    complete all pending and anticipated resolution activities.
        The Act codifies the RTC management reforms Treasury Secretary Lloyd
    Bentsen announced in March, many of which have already been implemented.
    It also reaffirms the Administration's commitment to provide additional
    opportunities for women- and minority-owned businesses to participate in
    the RTC's contracting activities.
        This legislation will bring to a close a costly episode in our
    Nation's financial history. I appreciate the efforts of all those who
    have worked to make its enactment possible.

                                                          William J. Clinton

    The White House,
    December 17, 1993.

    Note: S. 714, approved December 17, was assigned Public Law No. 103-204.