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 date. PUBLIC LAW 102-242—DEC. 19, 1991 105 STAT. 2275 described in subparagraph (C), minus the present value of the total net amount the Corporation reasonably expects to receive from the disposition of the assets of such institution in connection with such liquidation. "(E) DEPOSIT INSURANCE FUNDS AVAILABLE FOR INTENDED PURPOSE ONLY. — "(i) IN GENERAL. —After December 31, 1994, or at such earlier time as the Corporation determines to be appropriate, the Corporation may not take any action, directly or indirectly, with respect to any insured depository institution that would have the effect of increasing losses to any insurance fund by protecting— "(I) depositors for more than the insured portion of deposits (determined without regard to whether such institution is liquidated); or "(II) creditors other than depositors. "(ii) DEADLINE FOR REGULATIONS. — The Corporation Effective shall prescribe regulations to implement clause (i) not later than January 1, 1994, and the regulations shall take effect not later than January 1, 1995. "(iii) PURCHASE AND ASSUMPTION TRANSACTIONS. — No provision of this subparagraph shall be construed as prohibiting the Corporation from allowing any person who acquires any assets or assumes any liabilities of any insured depository institution for which the Corporation has been appointed conservator or receiver to acquire uninsured deposit liabilities of such institution so long as the insurance fund does not incur any loss with respect to such deposit liabilities in an amount greater than the loss which would have been incurred with respect to such liabilities if the institution had been liquidated. "(F) DISCRETIONARY DETERMINATIONS. — Any determination which the Corporation may make under this paragraph shall be made in the sole discretion of the Corporation. " (G) SYSTEMIC RISK.— " (i) EMERGENCY DETERMINATION BY SECRETARY OF THE TREASURY.— Notwithstanding subparagraphs (A) and (E), if, upon the written recommendation of the Board of Directors (upon a vote of not less than two-thirds of the members of the Board of Directors) and the Board of Governors of the Federal Reserve System (upon a vote of not less than two-thirds of the members of such Board), the Secretary of the Treasury (in consultation with the President) determines that— "(I) the Corporation's compliance with subparagraphs (A) and (E) with respect to an insured depository institution would have serious adverse effects on economic conditions or financial stability; and "(II) any action or assistance under this subparagraph would avoid or mitigate such adverse effects, « the Corporation may take other action or provide assistance under this section as necessary to avoid or mitigate such effects.

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