Page:United States Statutes at Large Volume 101 Part 1.djvu/642

 101 STAT. 612 Reports.

PUBLIC LAW 100-86—AUG. 10, 1987 "(B) submits regular and complete reports on such institution's progress in meeting the institution's goals under such plan.

"(c) THRIFTS WITH N E T WORTH OF LESS THAN 0.5 PERCENT MAY PARTICIPATE IN CAPITAL RECOVERY.—In the regulations required to

be prescribed under subsection (a), the Corporation may provide that a well-managed insured institution with a net worth of less than 0.5 percent, as determined in accordance with regulatory accounting principles, may, in the discretion of the Corporation, be allowed to continue to operate and be eligible for capital forbearance if— "(1) the conditions described in each paragraph of subsection ^ (a) have been met with respect to such insured institution; and ^ "(2) the insured institution has reasonable and demonstrable ^ prospects of returning to a satisfactory capital level, as determined by the Corporation, "(d) DEFINITIONS.—For purposes of this section— "(1) DESIGNATED ECONOMICALLY DEPRESSED REGION DEFINED.—

12 USC 1467a note.

12 USC 1467a note.

12 USC 1467a note.


 * ,, The term 'designated economically depressed region' means any

geographical region which the Corporation determines, by regulation, to be a region within which real estate values have . suffered serious declines due to severe economic conditions, such as a decline in energy or agricultural values or prices. "(2) MINORITY.—The term 'minority' means any Black Amer;, ican. Native American, Hispanic American, or Asian American. "(3) MINORITY INSTITUTION.—The term 'minority institution' meansany insured institution of which— "(A) more than 50 percent of the ownership or control (of f..i;4j such insured institution) is held by minority individuals; and "(B) more than 50 percent of the net profit or loss (of such insured institution) accrues to minority individuals. "(4) MINORITY LOAN.—The term 'minority loan' means any obligation or other extension or advance of credit which is made to 1 or more minority individuals or to any person which is owned or controlled by 1 or more minority individuals.". (c) IMPLEMENTATION REPORT TO CONGRESS.—The Federal Home Loan Bank Board and the Federal Savings and Loan Insurance Corporation shall each submit a report to Congress containing the proposed regulations required to be prescribed under subsection (a) or (b), as the case may be, not later than the end of the 90-day period beginning on the date of the enactment of this Act. (d) EFFECTIVE DATE OF REGULATIONS.—The regulations required to be prescribed under the amendments made by subsections (a) and (b) shall be implemented not later than the end of the 150-day period beginning on the date of the enactment of this Act. (e) AGENCY STUDY AND REPORT ON, AND CONGRESSIONAL REVIEW OF, CAPITAL RECOVERY.— (1) STUDY AND REPORT REQUIRED.—Not later than January

31, 1989, the Federal Home Loan Bank Board and the Federal (A) conduct a detailed evaluation of the effectiveness of >: ica 1' ^jjg regulations required to be prescribed under the amendments made by subsections (a) and (b) in achieving an increased level of capitalization for thrift institutions; and '* • ''^' (B) submit a report to the Congress containing the findings and conclusions of the Board and the Corporation in
 * ' Savings and Loan Insurance Corporation shall jointly—

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