Page:United States Statutes at Large Volume 101 Part 1.djvu/664

 101 STAT. 634

31 USC 1501 et

PUBLIC LAW 100-86—AUG. 10, 1987

terest, dividend, or other income thereon, shall not be subject to apportionment for the purpose of chapter 15 of title 31, United States Code, or under any other authority.".

seq. SEC. 506. FEDERAL DEPOSITORY INSTITUTIONS REGULATORY AGENCIES NOT SUBJECT TO SEQUESTRATION.

2 USC 905. ^ J <

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2 USC 906.

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(a) IN GENERAL.—Paragraph (1) of section 255(g) of the Balanced Budget and Emergency Deficit Control Act of 1985 is amended— (1) by inserting after the item relating to compensation of the President the following new item: "Comptroller of the Currency;"; (2) by inserting after the item relating to the exchange sta.1 bilization fund the following new items: • "Federal Deposit Insurance Corporation; "Federal Home Loan Bank Board; i^? "Federal Home Loan Bank Board, Federal Savings and Loan Insurance Corporation;"; and (3) by inserting after the item relating to intragovernmental funds the following new items: "National Credit Union Administration; '; „ «' "National Credit Union Administration, central liquidity facility; "National Credit Union Administration, credit union share insurance fund;". (b) CERTAIN EXPENSES.—Section 256(b) of the Balanced Budget and Emergency Deficit Control Act of 1985 is amended by adding at the end thereof the following new paragraph: "(4) Notwithstanding any other provision of law, this subsection shall not apply with respect to the following: "(A) Comptroller of the Currency. "(B) Federal Deposit Insurance Corporation. "(C) Federal Home Loan Bank Board. "(D) Federal Savings and Loan Insurance Corporation. i, "(E) National Credit Union Administration. "(F) National Credit Union Administration, central liquidity facility.". SEC. 507. LIQUIDATION PROCEEDINGS.

Section 11 of the Federal Deposit Insurance Act (12 U.S.C. 1821) is amended by inserting after subsection (i) (as added by section 503(a)(3) of this title) the following new subsection: "(j) CONDITIONS APPLICABLE TO LIQUIDATION PROCEEDINGS.— "(1) CONSIDERATION OF LOCAL ECONOMIC IMPACT REQUIRED.—

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The Corporation shall fully consider the adverse economic impact on local communities, including businesses and farms, of actions to be taken by it during the administration and liquidation of loans of a closed bank. "(2) ACTIONS TO ALLEVIATE ADVERSE ECONOMIC IMPACT TO BE

CONSIDERED.—The actions which the Corporation shall consider include the release of proceeds from the sale of products and t* services for family living and business expenses and shortening the undue length of the decisionmaking process for the acceptance of offers of settlement contingent upon third party financ•

ing.

"(3) GUIDELINES REQUIRED.—The Corporation shall adopt and publish procedures and guidelines to minimize adverse eco-

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