Page:United States Statutes at Large Volume 103 Part 1.djvu/215

 PUBLIC LAW 101-73 —AUG. 9, 1989 103 STAT. 187 Sec. 1402. Tax exemption for Resolution Trust Corporation and Resolution Funding Corporation. Sec. 1403. Annual reports on transactions in which Federal financial assistance provided. Sec. 1404. Studies of relationship between public debt and activities of Government- sponsored enterprises. TITLE I—PURPOSES SEC. 101. PURPOSES. 12 USC 1811 The purposes of this Act are as follows: (1) To promote, through regulatory reform, a safe and stable system of affordable housing finance. (2) To improve the supervision of savings associations by strengthening capital, accounting, and other supervisory standards. (3) To curtail investments and other activities of savings associations that pose unacceptable risks to the Federal deposit insurance funds. (4) To promote the independence of the Federal Deposit Insur- ance Corporation from the institutions the deposits of which it insures, by providing an independent board of directors, ade- quate funding, and appropriate powers. (5) To put the Federal deposit insurance funds on a sound financial footing. (6) To establish an Office of Thrift Supervision in the Depart- ment of the Treasury, under the general oversight of the Sec- retary of the Treasury. (7) To establish a new corporation, to be known as the Resolu- tion Trust Corporation, to contain, manage, and resolve failed savings associations. (8) To provide funds from public and private sources to deal expeditiously with failed depository institutions. (9) To strengthen the enforcement powers of Federal regu- lators of depository institutions. (10) To strengthen the civil sanctions and criminal penalties for defrauding or otherwise damaging depository institutions and their depositors. TITLE II—FEDERAL DEPOSIT INSURANCE CORPORATION SEC. 201. DEPOSITORY INSTITUTIONS. (a) AMENDMENTS TO REFERENCES TO INSURED BANK.— (1) IN GENERAL.— Except as provided in paragraph (2), the Federal Deposit Insurance Act (12 U.S.C. 1811 et seq.) is amended by striking out "insured bank", "insured banks", and "insured bank's" each place each term appears in such Act (except where any such term is preceded by "member" or "nonmember") and inserting in lieu thereof "insured depository institution", "insured depository institutions", and "insured depository institution's", respectively. (2) EXCEPTIONS.— The terms "insured bank" and "insured banks" shall not be amended pursuant to paragraph (1) in

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