Page:United States Statutes at Large Volume 105 Part 3.djvu/352

 105 STAT. 2236 PUBLIC LAW 102-242—DEC. 19, 1991 Public Law 102-242 102d Congress An Act Dec. 19, 1991 [S. 543] Federal Deposit Insurance Corporation Improvement Act of 1991. 12 USC 1811 note. To require the least-cost resolution of insured depository institutions, to improve supervision and examinations, to provide additional resources to the Bank Insurance Fund, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the "Federal Deposit Insurance Corporation Improvement Act of 1991". TITLE I—SAFETY AND SOUNDNESS Subtitle A—Deposit Insurance Funds SEC. 101. FUNDING FOR THE FEDERAL DEPOSIT INSURANCE FUNDS. Section 14(a) of the Federal Deposit Insurance Act (12 U.S.C. 1824(a)) is amended by striking "$5,000,000,000" and inserting " $30,000,000,000". SEC. 102. LIMITATION ON OUTSTANDING BORROWING. (a) IN GENERAL.— Section 15(c) of the Federal Deposit Insurance Act (12 U.S.C. 1825(c)) is amended by striking paragraphs (5) and (6) and inserting the following new paragraphs: " (5) MAXIMUM AMOUNT LIMITATION ON OUTSTANDING OBLIGA- TiONS.— Notwithstanding any other provisions of this Act, the Corporation may not issue or incur any obligation, if, after issuing or incurring the obligation, the aggregate amount of obligations of the Bank Insurance Fund or Savings Association Insurance Fund, respectively, outstanding would exceed the sum of— "(A) the amount of cash or the equivalent of cash held by the Bank Insurance Fund or Savings Association Insurance Fund, respectively; "(B) the amount which is equal to 90 percent of the Corporation's estimate of the fair market value of assets held by the Bank Insurance Fund or the Savings Association Insurance Fund, respectively, other than assets described in subparagraph (A); and "(C) the total of the amounts authorized to be borrowed from the Secretary of the Treasury pursuant to section 14(a). "(6) OBLIGATION DEFINED. — "(A) IN GENERAL.— For purposes of paragraph (5), the term 'obligation' includes— "(i) any guarantee issued by the Corporation, other than deposit guarantees;

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