115
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 July 1,
1994, 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 1994 flooding in Georgia, Alabama, and Florida
resulting from Tropical Storm Alberto, if the Board
determines that the exception can reasonably be ex-
pected to alleviate hardships to the public resulting
from such disaster that outweigh possible adverse ef-
fects.
(2) EXPEDITED
FUNDS
AVAILABILITY
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 Expedited Funds Availability Act for depository
institution offices located within any area referred to
in paragraph (1) of this section if the Board deter-
mines that the exception can reasonably be expected
to alleviate hardships to the public resulting from
such disaster that outweigh possible adverse effects.
116
(3) TIME LIMIT ON EXCEPTIONS.—Any excep-
tion made under this subsection shall expire not
later than July 1, 1995.
(4) PUBLICATION
REQUIRED.—The Board of
Governors of the Federal Reserve System shall pub-
lish in the Federal Register a statement that—
(A) describes any exception made under
this subsection; and
(B) explains how the exception can reason-
ably be expected to produce benefits to the pub-
lic that outweigh possible adverse effects.
(b) DEPOSIT OF INSURANCE PROCEEDS.—
(1) IN
GENERAL.—The appropriate Federal
banking agency may, by order, permit an insured de-
pository institution to subtract from the institution’s
total assets, in calculating compliance with the lever-
age limit prescribed under section 38 of the Federal
Deposit Insurance Act, an amount not exceeding the
qualifying amount attributable to insurance pro-
ceeds, if the agency determines that—
(A) the institution—
(i) had its principal place of business
within an area in which the President, pur-
suant to section 401 of the Robert T. Staf-
ford Disaster Relief and Emergency Assist-
117
ance Act, has determined, on or after July
1, 1994, 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 1994
flooding in Georgia, Alabama, and Florida
resulting from Tropical Storm Alberto, on
the day before the date of any such deter-
mination;
(ii) derives more than 60 percent of
its total deposits from persons who nor-
mally reside within, or whose principal
place of business is normally within, areas
of intense devastation caused by the major
disaster;
(iii) was adequately capitalized (as de-
fined in section 38 of the Federal Deposit
Insurance Act) before the major disaster;
and
(iv) has an acceptable plan for manag-
ing the increase in its total assets and total
deposits; and
(B) the subtraction is consistent with the
purpose of section 38 of the Federal Deposit
Insurance Act.
118
(2) TIME LIMIT ON EXCEPTIONS.—Any excep-
tion made under this subsection shall expire not
later than July 1, 1995.
(3) DEFINITIONS.—For purposes of this sub-
section, the following definitions shall apply:
(A) 
APPROPRIATE
FEDERAL
BANKING
AGENCY.—The 
term 
‘‘appropriate 
Federal
banking agency’’ has the same meaning as in
section 3 of the Federal Deposit Insurance Act.
(B) INSURED DEPOSITORY INSTITUTION.—
The term ‘‘insured depository institution’’ has
the same meaning as in section 3 of the Federal
Deposit Insurance Act.
(C) LEVERAGE LIMIT.—The term ‘‘lever-
age limit’’ has the same meaning as in section
38 of the Federal Deposit Insurance Act.
(D) QUALIFYING AMOUNT ATTRIBUTABLE
TO INSURANCE PROCEEDS.—The term ‘‘qualify-
ing amount attributable to insurance proceeds’’
means the amount (if any) by which the institu-
tion’s total assets exceed the institution’s aver-
age total assets during the calendar quarter
ending before the date of any determination re-
ferred to in paragraph (1)(A)(i), because of the
deposit of insurance payments or governmental
119
assistance made with respect to damage caused
by, or other costs resulting from, the major dis-
aster.
(c) BANKING
AGENCY
PUBLICATION
REQUIRE-
MENTS.—
(1) IN
GENERAL.—A qualifying regulatory
agency may take any of the following actions with
respect to depository institutions or other regulated
entities whose principal place of business is within,
or with respect to transactions or activities 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 July 1, 1994, 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 1994 flooding in Georgia, Alabama,
and Florida resulting from Tropical Storm Alberto,
if the agency determines that the action would facili-
tate recovery from the major disaster:
(A) PROCEDURE.—Exercising the agency’s
authority under provisions of law other than
this subsection without complying with—
(i) any requirement of section 553 of
title 5, United States Code; or
120
(ii) any provision of law that requires
notice or opportunity for hearing or sets
maximum or minimum time limits with re-
spect to agency action.
(B) PUBLICATION REQUIREMENTS.—Mak-
ing exceptions, with respect to institutions or
other entities for which the agency is the pri-
mary Federal regulator, to—
(i) any publication requirement with
respect to establishing branches or other
deposit-taking facilities; or
(ii) any similar publication require-
ment.
(2) PUBLICATION
REQUIRED.—A qualifying
regulatory agency shall publish in the Federal Reg-
ister a statement that—
(A) describes any action taken under this
subsection; and
(B) explains the need for the action.
(3) QUALIFYING
REGULATORY
AGENCY
DE-
FINED.—For purposes of this subsection, the term
‘‘qualifying regulatory agency’’ means—
(A) the Board of Governors of the Federal
Reserve System;
(B) the Comptroller of the Currency;