Page:United States Statutes at Large Volume 106 Part 4.djvu/36

 106 STAT. 2772 PUBLIC LAW 102-485—OCT. 23, 1992 12 USC 4008 note. Federal Register, publication. 12 USC 1831o note. SEC. 3. TRUTH IN LENDING ACT; EXPEDITED FUNDS AVAILABILITY ACT. (a) TRUTH IN LENDING ACT.— During the 180-day period beginning on the date of enactment of this Act, the Board of Governors of the Federal Reserve System may make exceptions to the Truth in Lending Act for transactions within an area in which the President, pursuant to section 401 of the Robert T. Stafford Disaster Relief and Emergency Assistance Act, has determined that a msgor disaster exists, if the Board determines that the exception can reasonably be expected to produce benefits to the public that outweigh possible adverse effects. (b) EXPEDITED FUNDS AVAILABILITY ACT.— During the 180-day period beginning on the date of enactment of this Act, the Boara of GrOvemors of the Federal Reserve System may make exceptions to the Expedited Funds Availability Act for depository institution offices located within an area referred to in subsection (a) of this section if the Board determines that the exception can reasonably be expected to produce benefits to the public that outweigh possible adverse effects. (c) TIME LIMIT ON EXCEPTIONS.—Any exception made under this section shall expire not later than the earlier of— (1) 1 year after the date of enactment of this Act; or (2) 1 year after the date of the Presidential determination referred to in subsection (a). (d) PUBLICATION REQUIRED. —The Board of Governors of the Federal Reserve System shall publish in the Federal Register a statement that— (1) describes any exception made under this section; and (2) explains how the exception can reasonably be expected to produce benefits to the public that outweigh possible adverse effects. SEC. 4. DEPOSIT OF INSURANCE PROCEEDS. (a) IN GENERAL.—The appropriate Federal banking agency may, by order, permit an insured depository institution, during the 18- month period beginning on the date of enactment of this Act, to subtract fh>m the institution's total assets, in calculating compliance with the leverage limit prescribed under section 38 of the Federal Deposit Insurance Act, an amount not exceeding the qualifying amount attributable to insurance proceeds, if the agency determines that— (1) the institution— (A) had its principed place of business within an area in which the President, pursuant to section 401 of the Robert T. Stafford Disaster Relief and Emergency Assistance Act, has determined that a mcg'or disaster exists, on the day before the date of that determination; (B) derives more than 60 percent of its total deposits from persons who normally reside within, or whose principal place of business is normally within, areas of intense devastation caused by the msgor disaster (such as that portion of Dade County, Florida, south of Kendall Drive and east of Everglades National Park, as damaged by Hurricane Andrew); (C) was adequately capitalized (as defined in section 38 of the Federal Deposit Insurance Act) before the mtgor disaster; and

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