Page:United States Statutes at Large Volume 107 Part 1.djvu/778

 107 STAT. 752 PUBLIC LAW 103-76—AUG. 12, 1993 Public Law 103-76 103d Congress Aug. 12, 1993 [S. 1273] Depository Institutions Disaster Relief Act of 1993. 12 USC 1811 note. 12 USC 4008 note. Federal Register, publication. An Act To facilitate recovery from the recent flooding of the Mississippi River and its tributaries by providing greater flexibility for depository institutions and their regulators, 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 "Depository Institutions Disaster Relief Act of 1993". SEC. 2. TRUTH IN LENDING ACT; EXPEDITED FUNDS AVAILABILITY ACT. (a) TRUTH IN LENDING ACT.— During the 240-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, on or after April 1, 1993, that a major disaster exists, or within an area determined to be eligible for disaster relief under other Federal law by reason of damage related to the 1993 flooding of the Mississippi River and its tributaries, if the Board determines that the exception can reasonably be expected to alleviate hardships to the public resulting from such disaster that outweigh possible adverse effects. (b) EXPEDITED FUNDS AVAILABILITY ACT.— During the 240-day period beginning on the date of enactment of this Act, the Board of Grovernors of the Federal Reserve System may make exceptions to the Expedited Funds Availability Act for depository institution offices located within any area referred to in subsection (a) of this section if the Board determines that the exception can reasonably be expected to alleviate hardships to the public resulting from such disaster that outweigh possible adverse effects. (c) TIME LIMIT ON EXCEPTIONS.— Any exception made under this section shall expire not later than October 1, 1994, (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.

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