I
104TH CONGRESS
1ST SESSION
H. R. 1472
To provide for sufficient funding to cover the costs of the Financing Corpora-
tion, to provide funds to carry out the purposes of the Savings Associa-
tion Insurance Fund, and for other purposes.
IN THE HOUSE OF REPRESENTATIVES
APRIL 7, 1995
Mr. LAFALCE introduced the following bill; which was referred to the
Committee on Banking and Financial Services
A BILL
To provide for sufficient funding to cover the costs of the
Financing Corporation, to provide funds to carry out
the purposes of the Savings Association Insurance Fund,
and for other purposes.
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ‘‘Financing Corporation
and Savings Association Insurance Fund Restoration Act
of 1995’’.
SEC. 2. AVAILABILITY OF RTC FUNDS TO RECAPITALIZE
SAIF.
(a) IN GENERAL.—Section 11(a)(6)(F) of the Fed-
eral Deposit Insurance Act (12 U.S.C. 1821(a)(6)(F)) is
amended—
(1) in the provisions of such subparagraph pre-
ceding clause (i), by inserting ‘‘to carry out the pur-
poses of this Act’’ after ‘‘as needed by the Fund’’;
and
(2) by inserting a period after ‘‘not needed by
the Resolution Trust Corporation’’ and striking ev-
erything that follows through the end of the sub-
paragraph.
(b) TECHNICAL AND CONFORMING AMENDMENT.—
Section 11(a)(6)(K) of the Federal Deposit Insurance Act
(12 U.S.C. 1821(a)(6)(K)) is amended by striking ‘‘to
cover losses incurred by the Fund’’ and inserting ‘‘to carry
out the purposes of this Act’’.
SEC. 3. SAIF PAYMENTS TO FICO.
(a) IN GENERAL.—Section 21(f) of the Federal
Home Loan Bank Act (12 U.S.C. 1441(f)) is amended
by redesignating paragraph (3) as paragraph (4) and in-
serting after paragraph (2) the following new paragraph:
‘‘(3) PAYMENTS FROM SAIF.—In addition to the
amounts available pursuant to paragraphs (1) and
(2), the Federal Deposit Insurance Corporation shall
make available to the Financing Corporation such
amounts as may be prudently transferred from the
Savings Association Insurance Fund, taking into ac-
count funds available to such Fund pursuant to sec-
tion 11(a)(6)(F) of the Federal Deposit Insurance
Act, to cover the interest payments, issuance costs,
and custodial fees on obligations issued by the Fi-
nancing Corporation.’’.
(b) TECHNICAL AND CONFORMING AMENDMENT.—
Section 11(a)(6)(K) of the Federal Deposit Insurance Act
(12 U.S.C. 1821(a)(6)(K)) is amended by striking ‘‘to
cover losses incurred by the Fund’’ and inserting ‘‘to carry
out the purposes of this Act’’.
SEC. 4. REPEAL OF MINIMUM SAIF ASSESSMENT RULE.
Section 7(b)(2) of the Federal Deposit Insurance Act
(12 U.S.C. 1817(b)(2)) is amended by striking subpara-
graph (E).
SEC. 5. CLARIFICATION THAT CERTAIN INSTITUTIONS IN-
SURED BY THE SAIF ARE SUBJECT TO FICO
ASSESSMENTS.
Section 21(f)(2) of the Federal Home Loan Bank Act
(12 U.S.C. 1441(f)(2)) is amended by inserting after
‘‘Savings Association Insurance Fund member’’ the fol-
lowing: ‘‘, including any Savings Association Insurance
Fund member referred to in section 5(d)(2)(G) of the Fed-
eral Deposit Insurance Act and, in the case of any Bank
Insurance Fund member which has deposits which are
treated (under section 5(d)(3) of such Act) as deposits
which are insured by the Savings Association Insurance
Fund, the adjusted attributable deposit amount with re-
spect to such member as determined under subparagraph
(C) of section 5(e)(3) of such Act for purposes of subpara-
graph (B)(i) of such section,’’.
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