Page:United States Statutes at Large Volume 105 Part 3.djvu/393

 PUBLIC LAW 102-242—DEC. 19, 1991 105 STAT. 2277 (A) by striking "POWERS. —Except as" and inserting "POWERS. — "(A) IN GENERAL. — Except as"; and (B) by adding at the end the following new subparagraph: "(B) MANNER OF APPLICATION OF LEAST-COST RESOLU- TION.— For purposes of applying section 13(c)(4) of the Federal Deposit Insurance Act to the Corporation under subparagraph (A), the Corporation shall be treated as the affected deposit insurance fund.". (b) SECURED CLAIMS IN EXCESS OF VALUE OF COLLATERAL. —Section 11(d)(5)(D) of the Federal Deposit Insurance Act (12 U.S.C. 1821(d)(5)(D)) is amended to read as follows: "(D) AUTHORITY TO DISALLOW CLAIMS.— "(i) IN GENERAL. —The receiver may disallow any portion of any claim by a creditor or claim of security, preference, or priority which is not proved to the satisfaction of the receiver. "(ii) PAYMENTS TO LESS THAN FULLY SECURED CREDI- TORS. —In the case of a claim of a creditor against an insured depository institution which is secured by any property or other asset of such institution, any receiver appointed for any insured depository institution— "(I) may treat the portion of such claim which exceeds an amount equal to the fair market value of such property or other asset as an unsecured claim against the institution; and "(II) may not make any payment with respect to such unsecured portion of the claim other than in connection with the disposition of all claims of unsecured creditors of the institution. "(iii) EXCEPTIONS. —No provision of this paragraph shall apply with respect to— "(I) any extension of credit from any Federal home loan bank or Federal Reserve bank to any institution described in paragraph (3)(A); or "(II) any security interest in the assets of the institution securing any such extension of credit.". (c) DATA COLLECTIONS. —Section 7(a)(8) of the Federal Deposit Insurance Act (12 U.S.C. 1817(a)(8)) is amended to read as follows: "(8) DATA COLLECTIONS.—In addition to or in connection with any other report required under this subsection, the Corporation shall take such action as may be necessary to ensure that— "(A) each insured depository institution maintains; and "(B) the Corporation receives on a regular basis from such institution, information on the total amount of all insured deposits, preferred deposits, and uninsured deposits at the institution.". (d) INDUSTRY IMPACT ANALYSIS REQUIRED. — (1) IN GENERAL.— Section 11(h) of the Federal Deposit Insurance Act (12 U.S.C. 1821(h)) is amended by adding at the end the following new paragraph: "(4) FINANCIAL SERVICES INDUSTRY IMPACT ANALYSIS.—After the appointment of the Corporation as conservator or receiver for any insured depository institution and before taking any action under this section or section 13 in connection with the resolution of such institution, the Corporation shall—

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