Page:United States Statutes at Large Volume 105 Part 3.djvu/382

 note. 105 STAT. 2266 PUBLIC LAW 102-242—DEC. 19, 1991 applicable, the Corporation) shall exercise the same care as i if the Savings Association Insurance Fund (rather than the Resolution Trust Corporation) bore the cost of resolving the problems of insured savings associations described in clauses (i) and (ii)(II) of section 21A(b)(3)(A) of the Federal Home Loan Bank Act. "(B) REPORTS.— Subparagraph (A) does not require reports under subsection (k). "(2) ADDITIONAL FLEXIBILITY FOR CERTAIN SAVINGS ASSOCIA- TIONS.— Subsections (e)(2), (f), and (h) shall not apply before July 1, 1994, to any insured savings association if^ "(A) before the date of enactment of the Federal Deposit Insurance Corporation Improvement Act of 1991— "(i) the savings association had submitted a plan meeting the requirements of section 5(t)(6)(A)(ii) of the Home Owners' Loan Act; and "(ii) the Director of the Office of Thrift Supervision had accepted the plan; "(B) the plan remains in effect; and "(C) the savings association remains in compliance with the plan or is operating under a written agreement with the appropriate Federal banking agency.". Effective (b) DEADLINE FOR REGULATIONS. — Each appropriate Federal bank- <*^**- ing agency (as defined in section 3 of the Federal Deposit Insurance 12 USC 18310 Act (12 U.S.C. 1813)) (and the Corporation, acting in the Corporation's capacity as insurer of depository institutions under that Act) shall, after notice and opportunity for comment, promulgate final regulations under section 38 of the Federal Deposit Insurance Act (as added by subsection (a)) not later than 9 months after the date of enactment of this Act, and those regulations shall become effective not later than 1 year after that date of enactment. (c) OTHER AMENDMENTS TO THE FEDERAL DEPOSIT INSURANCE ACT.— (1) ENFORCEMENT ACTION BASED ON UNSATISFACTORY ASSET QUAUTY, MANAGEMENT, EARNINGS, OR LIQUIDITY.Section 8(b) of the Federal Deposit Insurance Act (12 U.S.C. 1818(b)) is amended by redesignating paragraph (8) as paragraph (9) and inserting after paragraph (7) the following: "(8) UNSATISFACTORY ASSET QUALITY, MANAGEMENT, EARNINGS, OR LIQUIDITY AS UNSAFE OR UNSOUND PRACTICE. — If an insured depository institution receives, in its most recent report of examination, a less-than-satisfactory rating for asset quality, management, earnings, or liquidity, the appropriate Federal banking agency may (if the deficiency is not corrected) deem the institution to be engaging in an unsafe or unsound practice for purposes of this subsection.". (2) CONFORMING AMENDMENTS RELATING TO FEDERAL BANKING AGENCIES' ENFORCEMENT AUTHORITY. — Section 8(i) of the Federal Deposit Insurance Act (12 U.S.C. 1818(i)) is amended— (A) in the first sentence of paragraph (1), by inserting "or under section 38" after "section"; and (B) in paragraph (2)(A)(ii), by inserting ", or final order under section 38" after "section". (3) DEFINITION.— Section 3 of the Federal Deposit Insurance Act (12 U.S.C. 1813) is amended by adding at the end the following:

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