Page:United States Statutes at Large Volume 101 Part 1.djvu/649

 PUBLIC LAW 100-86—AUG. 10, 1987

101 STAT. 619

"(B) without admitting into evidence, or otherwise taking into account, the findings, recommendations, or conclusions of the principal supervisory agent and the independent arbiter (or the panel of independent arbiters) which conducted the informal review. "(3) INFORMAL REVIEW NOT SUBJECT TO FORMAL REVIEW.—The

findings, recommendations, or conclusions of any principal supervisory agent who conducted a review under the procedure established pursuant to subsection (a) are not decisions which may be subject to review by the Board or any court under any regulation of the Board or any law. "(g) EXPENSES OF REVIEW BORNE BY ASSOCIATION, INSTITUTION, OR

MEMBER.—All reasonable expenses incurred as a direct or indirect result of any review under the procedure established pursuant to subsection (a) shall be paid by the association, insured institution, or member which requested the review.". SEC. 408. PREVENTION OF INSOLVENCIES.

Before the end of the 6-month period beginning on the date of the enactment of this Act, the Federal Home Loan Bank Board shall submit a report to the Congress containing— (1) a detailed description of the steps the Board has taken and is planning to take to prevent additional failures of thrift institutions; and (2) such recommendations for legislation as the Board may determine to be appropriate.

Reports..

SEC. 409. FEASIBILITY STUDY RELATING TO ESTABLISHMENT OF ASSET HOLDING CORPORATION.

(a) STUDY REQUIRED.—The Federal Home Loan Bank Board shall study the feasibility of establishing an asset holding corporation to relieve thrift institutions of the burden of carrying and maintaining troubled real estate assets by providing for the acquisition of such assets by such corporation. (b) FACTORS TO B E CONSIDERED.—In studying the feasibility of establishing an asset holding corporation, the Federal Home Loan Bank Board shall— (1) estimate the cost of establishing and operating such corporation for the purposes intended; (2) consider whether sufficient capital for the establishment and operation of the corporation can be obtained from the private sector or from the Federal home loan bank system without any Government investment in the corporation; (3) develop standards for determining the type and condition of real estate assets which would be eligible for acquisition by such corporation and estimate the total value of such real estate; and (4) develop a proposal for allowing participating thrift institutions to obtain an equity participation in the corporation. (c) REPORT REQUIRED.—The Federal Home Loan Bank Board shall prepare and submit 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 6 months after the date of the enactment of this Act, a report containing the findings and conclusions of the Board with respect to the study required under subsection (a) and any recommendation of

Real property.

�