Page:United States Statutes at Large Volume 107 Part 1.djvu/780

 107 STAT. 754 PUBLIC LAW 103-76—AUG. 12, 1993 Federal Register, publication. 12 USC 1811 note. 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 agency determines that the action would facilitate recovery from the major disaster: (1) PROCEDURE. —Exercising the agenc^s authority under provisions of law other than this section without complying with— (A) any requirement of section 553 of title 5, United States Code; or (B) any provision of law that requires notice or opportunity for hearing or sets maximum or minimum time limits with respect to agency action. (2) PUBLICATION REQUIREMENTS. —Making exceptions, with respect to institutions or other entities for which the agency is the primary Federal regulator, to— (A) any publication requirement with respect to establishing branches or other deposit-taking facilities; or (B) any similar publication requirement. (b) PUBLICATION REQUIRED. —^A qualifying regulatory agency shall publish in the Federal Register a statement that— (1) describes any action taken under this section; and (2) explains the need for the action. (c) QUALIFYING REGULATORY AGENCY DEFINED. — For purposes of this section, the term "qualifying regulatory agency" means— (1) the Board of Governors of the Federal Reserve System; (2) the Comptroller of the Currency; (3) the Director of the Office of Thrift Supervision; (4) the Federal Deposit Insurance Corporation; (5) the Financial Institutions Examination Council; (6) the National Credit Union Administration; and (7) with respect to chapter 53 of title 31, United States Code, the Secretary of the Treasury. (d) EXPIRATION.— Any exception made under this section shall expire not later than April 1, 1994. SEC. 5. STUDY; REPORT TO THE CONGRESS. (a) STUDY.— The Secretary of the Treasury, after consultation with the appropriate Federal banking agencies (as defined in section 3 of the Federal Deposit Insurance Act), shall conduct a study that^ (1) examines how the agencies and entities granted authority by the Depository Institutions Disaster Relief Act of 1992 and by this Act have exercised such authority; (2) evaluates the utility of such Acts in facilitating recovery from disasters consistent with the safety and soundness of depository institutions; and (3) contains recommendations with respect to whether the authority granted by this Act should be made permanent. (b) REPORT TO THE CONGRESS.— Not later than 18 months after the date of the enactment of this Act, the Secretary of the Treasury shall submit to the Congress a report on the results of the study required by subsection (a). SEC. 6. SENSE OF THE CONGRESS. It is the sense of the Congress that the Board of Grovernors of the Federal Reserve System, the Comptroller of the Currency, the Director of the Office of Thrift Supervision, the Federal Deposit

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