Page:United States Statutes at Large Volume 103 Part 1.djvu/281

 PUBLIC LAW 101-73—AUG. 9, 1989 103 STAT. 253 "SEC. 11 A. FSLIC RESOLUTION FUND. 12 USC 1821a. "(a) ESTABLISHED. — "(1) IN GENERAL.— There is established a separate fund to be designated as the FSLIC Resolution Fund which shall be man- aged by the Corporation and separately maintained and not commingled. " (2) TRANSFER OF FSLIC ASSETS AND LIABILITIES.— "(A) IN GENERAL.— Except as provided in section 21A of the Federal Home Loan Bank Act, all assets and liabilities of the Federal Savings and Loan Insurance Corporation on the day before the date of the enactment of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 shall be transferred to the FSLIC Resolution Fund. "(B) ADDITIONAL CLAIMS ON ASSETS. —The FSLIC Resolu- tion Fund shall pay to the Savings Association Insurance Fund such amounts as are needed for administrative and supervisory expenses from the date of enactment of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 through September 30, 1991. "(3) SEPARATE HOLDING.—Assets and liabilities transferred to the FSLIC Resolution Fund shall be the assets and liabilities of the Fund and not of the Corporation and shall not be consoli- dated with the assets and liabilities of the Bank Insurance Fund, the Savings Association Insurance Fund, or the Corpora- tion for accounting, reporting, or any other purpose. "(b) SOURCE OF FUNDS. — The FSLIC Resolution Fund shall be funded from the following sources to the extent funds are needed in the listed priority: "(1) Income earned on assets of the FSLIC Resolution Fund. "(2) Liquidating dividends and payments made on claims received by the FSLIC Resolution Fund from receiverships to the extent such funds are not required by the Resolution Fund- ing Corporation pursuant to section 21B of the Federal Home Loan Bank Act or the Financing Corporation pursuant to sec- tion 21 of such Act. "(3) Amounts borrowed by the Financing Corporation pursu- ant to section 21 of the Federal Home Loan Bank Act. "(4) During the period beginning on the date of the enactment of the Financial Institutions Reform, Recovery, and Enforce- ment Act of 1989 and ending on December 31, 1991, amounts Eissessed against Savings Association Insurance Fund members by the Corporation pursuant to section 7 which are not required by the Financing Corporation pursuant to section 21 of the Federal Home Loan Bank Act or by the Resolution Funding Corporation pursuant to section 21B of the Federal Home Loan Bank Act. ^ " (c) TREASURY BACKUP. — "(1) IN GENERAL.— If the funds described in subsections (a) and (b) are insufficient to satisfy the liabilities of the FSLIC Resolu- tion Fund, the Secretary of the Treasury shall pay to the Fund such amounts as may be necessary, as determined by the Cor- poration and the Secretary, for FSLIC Resolution Fund pur- poses. "(2) AUTHORIZATION OF APPROPRIATIONS. —There are au- thorized to be appropriated to the Secretary of the Treasury,

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