208
(A) arises under or pursuant to the Fed-
eral Home Loan Bank Act, the Federal Deposit
Insurance Act, or any other Federal law; and
(B) existed on the day before the date of
the enactment of this Act.
(2) CONTINUATION
OF
SUITS.—No action or
other proceeding commenced by or against the
Thrift Depositor Protection Oversight Board or the
Resolution Trust Corporation, in any capacity, shall
abate by reason of the enactment of this Act, except
that the Administrator of the Resolution, Asset
Management, and Liquidation Agency shall be sub-
stituted for the Chairperson of the Thrift Depositor
Protection Oversight Board, the Thrift Depositor
Protection Oversight Board, the Resolution Trust
Corporation, or the chief executive officer of the
Resolution Trust Corporation, as the case may be,
as a party to any such action or proceeding.
(f) CONTINUATION OF ORDERS, RESOLUTIONS, DE-
TERMINATIONS, AND REGULATIONS.—All orders, resolu-
tions, determinations, and regulations, which—
(1) have been issued, made, prescribed, or al-
lowed to become effective by the Thrift Depositor
Protection Oversight Board or the Resolution Trust
Corporation or by a court of competent jurisdiction,
209
in the performance of functions which are trans-
ferred by this Act; and
(2) are in effect on the date this Act takes ef-
fect (or become effective after such date pursuant to
the terms of the order, resolution, determination or
regulation, as in effect on such date),
shall continue in effect according to the terms of such or-
ders, resolutions, determinations, and regulations and
shall be enforceable by or against the Administrator of the
Resolution, Asset Management, and Liquidation Agency
until modified, terminated, set aside, or superseded in ac-
cordance with applicable law by the Administrator, by any
court of competent jurisdiction, or by operation of law.
SEC. 104. EMPLOYEE TRANSFERS.
(a) ALL RTC-ASSIGNED EMPLOYEES TO BE TRANS-
FERRED.—All Federal Deposit Insurance Corporation em-
ployees assigned to the Resolution Trust Corporation on
the day before the effective date of this Act, including liq-
uidation-grade, general-grade, and general-grade term em-
ployees, shall be transferred to the Administrator of the
Resolution, Asset Management, and Liquidation Agency
(hereafter in this subsection referred to as the ‘‘Adminis-
trator’’) 60 days after the establishment of the Agency.
(b) FDIC-ASSIGNED EMPLOYEES TO BE TRANS-
FERRED.—
212
cluding any regional or cost-of-living differential),
and grade as that held on the day immediately pre-
ceding the enactment of this Act. Employees who
are in the excepted service whose counterparts from
the Federal Deposit Insurance Corporation are in
the competitive service shall have their status con-
verted to competitive without any further action.
(4) ADDITIONAL
EMPLOYEE
PROTECTIONS.—
Each employee transferred pursuant to this section,
other than a liquidation-grade employee, shall not be
involuntarily separated or reduced in grade or com-
pensation for 1 year after the date of the transfer,
except for cause. A transfer pursuant to this Act
shall be deemed a ‘‘transfer of function’’ for the pur-
poses of section 3503 of title 5, United States Code,
and a ‘‘major transfer of function’’ for purposes of
affording affected employees retirement under sec-
tion 8336(d)(2) or 8414(b)(1)(B) of title 5, United
States Code.
(e) PERSONNEL
AUTHORITY
OF
THE
ADMINIS-
TRATOR.—Before the transfer of employees pursuant to
this section, the Administrator—
(1) may use employees assigned to the Resolu-
tion Trust Corporation or the Federal Deposit In-
surance Corporation on a temporary basis; and
213
(2) shall reimburse the appropriate corporation
for the agency’s actual expenses.
(f) TRANSFER UPON FAILURE TO REAUTHORIZE.—
(1) IN GENERAL.—Upon the expiration of the
period during which the Administrator may be ap-
pointed as receiver, detailed employees of other Ex-
ecutive agencies (as defined in section 105 of title 5,
United States Code) shall be returned to the detail-
ing agency and all other employees shall be identi-
fied for transfer to the closest office of the Federal
Deposit Insurance Corporation in accordance with
the provisions of paragraphs (1), (2), and (4) of sec-
tion 404 of the Financial Institutions Reform, Re-
covery, and Enforcement Act of 1989.
(2) APPLICABILITY
OF
SECTION
404.—Para-
graphs (1), (2), and (4) of section 404 of the Finan-
cial Institutions Reform, Recovery, and Enforcement
Act of 1989 shall apply with respect to each em-
ployee identified for transfer under paragraph (1)
(of this subsection) in the same manner such para-
graphs applied with respect to employees identified
for transfer under section 403(b) of such Act.
214
SEC. 105. TRANSFER OF FSLIC RESOLUTION FUND TO
AGENCY.
(a) IN GENERAL.—Section 11A(a) of the Federal De-
posit Insurance Act (12 U.S.C. 1821a(a)) is amended—
(1) in paragraph (1), by striking ‘‘Corporation’’
and inserting ‘‘Administrator of the Resolution,
Asset Management, and Liquidation Agency (here-
after in this section referred to as the ‘Adminis-
trator’)’’;
(2) by striking paragraph (3) and inserting the
following new paragraph:
‘‘(3) SEPARATE HOLDING.—Assets and liabil-
ities transferred to the FSLIC Resolution Fund
shall be assets and liabilities of the Fund and not
the Administrator and shall not be consolidated with
the assets and liabilities of the Administrator.’’;
(3) by striking paragraph (4) and inserting the
following new paragraph:
‘‘(4) RIGHTS, POWERS, AND DUTIES.—Effective
on the date of the enactment of the Revitalization of
Depository Institution Liquidation Procedures Act of
1993, the Administrator shall have all rights, pow-
ers, and duties to carry out the Administrator’s du-
ties with respect to the assets and liabilities of the
FSLIC Resolution Fund that the Administrator oth-
erwise has under this Act and sections 21A, 21C,
215
and 21D of the Federal Home Loan Bank Act.’’;
and
(4) by striking paragraph (5) and inserting the
following new paragraph:
‘‘(5) ADMINISTRATOR AS CONSERVATOR OR RE-
CEIVER.—
‘‘(A) IN GENERAL.—Effective on the date
of the enactment of the Revitalization of Depos-
itory Institution Liquidation Procedures Act of
1993, the Administrator shall succeed the Cor-
poration as conservator or receiver with respect
to any depository institution—
‘‘(i) the accounts of which were in-
sured before August 10, 1989 by the Fed-
eral Savings and Loan Insurance Corpora-
tion; and
‘‘(ii) for which a conservator or re-
ceiver was appointed before January 1,
1989.
‘‘(B) RIGHTS, POWERS, AND
DUTIES.—
When acting as conservator or receiver with re-
spect to any depository institution described in
subparagraph (A), the Administrator shall have
all rights, powers, and duties that the Adminis-
trator otherwise has as conservator or receiver
216
under this Act and sections 21A, 21C, and 21D
of the Federal Home Loan Bank Act.’’.
(b) TECHNICAL AND CONFORMING AMENDMENTS.—
Section 11A of the Federal Deposit Insurance Act (12
U.S.C. 1821a) is amended—
(1) in subsection (b), by striking (4); and
(2) in subsection (c)(1), by striking ‘‘Corpora-
tion’’ and inserting ‘‘Administrator’’.
TITLE II—FUNDING ISSUES
SEC. 201. MAXIMUM OBLIGATION LIMITATION OF ADMINIS-
TRATOR.
Section 21A(j)(1) of the Federal Home Loan Bank
Act (12 U.S.C. 1441a(j)(1)(B)) is amended by striking
‘‘$50,000,000,000’’ and inserting ‘‘$31,200,000,000’’.
SEC. 202. BORROWING BY ADMINISTRATOR LIMITED TO
FEDERAL FINANCING BANK.
Section 21A(i)(1) of the Federal Home Loan Bank
Act (12 U.S.C. 1441a(i)(1)) is amended by adding the fol-
lowing new subparagraph:
‘‘(C) ADDITIONAL BORROWING.—The Ad-
ministrator may borrow only from the Treasury
of the United States or from the Federal Fi-
nancing Bank.’’.
217
TITLE III—REPORTS
SEC. 301. STUDY OF PRIVATE SECTOR CONTRACTORS.
Section 21A(p) of the Federal Home Loan Bank Act
(12 U.S.C. 1441a(p)) is amended by adding at the end
the following new paragraph:
‘‘(3) STUDY
OF
PRIVATE
SECTOR
CONTRAC-
TORS.—The Administrator shall conduct a detailed
review of contractor performance of its major activi-
ties, such as asset valuation, cost test calculation,
property management, etc., for the purpose of pre-
paring a report to the Senate Banking, Housing,
and Urban Affairs Committee and the House Bank-
ing, Finance and Urban Affairs Committee on the
benefits and burdens of contracting out tasks to pri-
vate sector firms as compared to the benefits and
burdens of performing the work with its employ-
ees.’’.
SEC. 302. ADDITIONAL REPORTS.
Section 21A(k)(7) of the Federal Home Loan Bank
Act (12 U.S.C. 1441a(k)(7)) is amended to read as fol-
lows:
‘‘(7) QUARTERLY REPORTS.—
‘‘(A) REPORTS REQUIRED.—Not later than
May 31, August 31, November 30, and the last
day of February of each year, the Adminis-
218
trator shall submit reports to the Committee on
Banking, Finance and Urban Affairs of the
House of Representatives and the Committee
on Banking, Housing, and Urban Affairs of the
Senate.
‘‘(B) ASSETS ON HAND.—
‘‘(i) IN GENERAL.—Each report under
this paragraph shall include a report on
the assets on hand at the beginning and
end of the reporting quarter in receiver-
ships or conservatorships or in institutions
under supervisory control of the Adminis-
trator.
‘‘(ii) INFORMATION REQUIRED TO BE
INCLUDED.—For each asset, the following
information shall be reported:
‘‘(I) Category of asset.
‘‘(II) Location of asset.
‘‘(III) Book value of asset.
‘‘(IV) Fair market value of asset
as identified either for purposes of
borrowing from the Federal Financing
Bank or for purposes of calculating
the least-cost resolution method.
219
‘‘(V) Information on whether
data reported is estimated or con-
firmed from books and records or
other reliable sources.
‘‘(VI) Any ancillary matter that
may affect the sale of the asset, such
as hazardous waste, environmental or
historic significance of the asset, in-
complete records, title problems, tax
or materialmens’ liens, or adverse eco-
nomic conditions existing in the local
area in which the asset is located.
‘‘(C) ASSET SALES.—
‘‘(i) IN GENERAL.—Each report under
this paragraph shall include a report on
asset sales during the reporting quarter,
including the information enumerated in
subparagraph (A).
‘‘(ii) INFORMATION REQUIRED TO BE
INCLUDED.—For each asset sale, the fol-
lowing information shall be reported:
‘‘(I) The sale price of the asset.
‘‘(II) The terms of any financing.
‘‘(III) Any terms of a sale which
obligate the Administrator to future
220
liability with regard to the asset (in-
cluding such matters as ‘puts’, seller
financing, and guaranteed yields).
‘‘(IV) The period of time during
which the asset was under the control
of the Administrator.
‘‘(V) Any expenditure made in
connection with the preservation or
the sale of the asset (including fees
paid to interim servicers, asset man-
agement and disposition contractors,
real estate brokers, securities brokers
or underwriters, auctioneers, and in-
surance and professional fees).
‘‘(VI) The calculation of net pro-
ceeds to the Administrator or the sav-
ings association, and the net proceeds
as adjusted for contingencies and al-
lowances.
‘‘(VII) The calculation of the net
loss (or gain) on each asset, using the
value of the asset on the books of a
depository institution as of the date of
the declaration of conservatorship or
221
receivership or the imposition of regu-
latory supervision as the basis.
‘‘(VIII) Information on whether
the sale was made by auction or a
bulk sale, under the affordable hous-
ing 
program, 
or 
through 
a
securitization process.
‘‘(D) FORMATS FOR SUBPARAGRAPHS (B)
AND (C).—The information specified in subpara-
graphs (B) and (C) shall be reported in the fol-
lowing formats (and any other that the Admin-
istrator, in the Administrator’s discretion,
deems useful):
‘‘(i) By categories of asset and loca-
tion.
‘‘(ii) By categories of asset, location,
type of sale, and continuing or contingent
liabilities of the Administrator.
‘‘(iii) By categories of asset, location,
and type of financing.
‘‘(iv) By categories of asset, holding
period, and location.
‘‘(v) By categories of asset, location,
and value of other assets of a similar type
222
in the local market still held or under the
control of the Administrator.
‘‘(E) DESCRIPTIVE
INFORMATION.—The
reports shall contain summary tables, subtotals,
and such descriptive information as may be
needed to assure the presentation of complete
and accurate data.
‘‘(F) DEFINITIONS.—For purposes of this
paragraph—
‘‘(i) CATEGORY
OF
ASSETS.—The
term ‘category of assets’ means the follow-
ing:
‘‘(I) Cash.
‘‘(II) Securities.
‘‘(III) Loans.
‘‘(IV) Real estate.
‘‘(V) Other.
‘‘(ii) DIRECTOR.—The term ‘Director’
means the Director of the Office of Thrift
Supervision.
‘‘(iii) 
LOAN.—The 
term 
‘loan’
means—
‘‘(I) residential mortgages se-
cured by 1- to 4-family dwellings;
‘‘(II) construction loans;
223
‘‘(III) land loans;
‘‘(IV) land development loans;
‘‘(V) other mortgage loans;
‘‘(VI) consumer loans; and
‘‘(VII) commercial loans.
‘‘(iv) REAL ESTATE.—The term ‘real
estate’ means—
‘‘(I) commercial real estate;
‘‘(II) residential real estate;
‘‘(III) 
residential 
single-family
real estate;
‘‘(IV) residential multifamily real
estate; and
‘‘(V) undeveloped or raw land.
‘‘(v) COMMERCIAL
REAL
ESTATE.—
The term ‘commercial real estate’ means—
‘‘(I) office buildings, subdivided
into categories by net rentable or sale-
able square feet;
‘‘(II) 
shopping 
centers, 
sub-
divided by size;
‘‘(III) golf courses, race tracks,
sports complexes and stadiums, and
other types of recreational facilities;
and
224
‘‘(IV) hotels and motels sub-
divided by size.
‘‘(vi) LOCATION.—The term ‘location’
means—
‘‘(I) street address, lot and block,
or other designation sufficient to pre-
cisely locate the asset;
‘‘(II) city and State;
‘‘(III) 
Standard 
Metropolitan
Statistical Area, or if the asset is not
located within such an area, then the
county; and
‘‘(IV) jurisdiction of regional,
consolidated, and field office of the
Administrator.
‘‘(vii) TYPE
OF
SALE.—The term
‘type of sale’ includes—
‘‘(I) bulk sales;
‘‘(II) the issuance and sale of se-
curities backed by a pool of assets
held by the Administrator;
‘‘(III) auction sales;
‘‘(IV) sales under the affordable
housing program; and
‘‘(V) seller-financed sales.
225
‘‘(viii) the term ‘law firm’—
‘‘(I) means any person who pro-
vides legal services for hire; and
‘‘(II) includes all partners, asso-
ciates, employees, branch offices, and
affiliates of such a person.
‘‘(G) DATA ON PRIVATE SECTOR CONTRAC-
TORS.—
‘‘(i) IN GENERAL.—For each contract
outstanding at the end of the reporting
quarter, the Administrator shall report the
following:
‘‘(I) The type of contract.
‘‘(II) The name and principal ad-
dress of the contractor.
‘‘(III) The total dollar value of
the contract.
‘‘(IV) The amount of fees or con-
sideration paid to the contractor dur-
ing the quarter and since the incep-
tion of the contract.
‘‘(V) Information on whether a
waiver of the conflict of interest rules
were granted in connection with the
award of the contract and the names
226
and addresses of persons who were
granted any such waivers.
‘‘(VI) A brief description of any
ongoing problems with the contract or
with the assets or services that are
the subject of the contract.
‘‘(VII) The total value of assets
delivered to the contractor, sold by the
contractor pursuant to the contract,
the total receipts received from the
contractor, total fees and charges paid
to the contractor, the terms of any
asset sales, and the value and location
of any assets returned to the Adminis-
trator pursuant to an asset sale, if ap-
plicable.
‘‘(ii) 
SUBCONTRACTOR
INFORMA-
TION.—The information required under
clause (i) shall be reported for each sub-
contractor of a contractor who performs a
substantial part of the value of the con-
tractor’s agreement with the Adminis-
trator.
‘‘(iii) TYPES OF CONTRACTS SPECIFI-
CALLY INCLUDED.—For purposes of this
227
subparagraph, the term ‘type of contract’
includes the following:
‘‘(I) Asset management and dis-
position contracts.
‘‘(II) Interim servicing agree-
ments.
‘‘(III) Collection agreements.
‘‘(IV) Brokerage or underwriting
contracts.
‘‘(V) Property management con-
tracts.
‘‘(VI) Professional services con-
tracts.
‘‘(VII) Financial services con-
tracts.
‘‘(H) STATUS
OF
CLAIMS
AND
SUITS.—
With respect to each claim pending at the end
of the quarter against any depository institution
for which the Administrator has been appointed
conservator or receiver, the Administrator, any
managing agent of the Administrator, any en-
tity which has contracted to provide services to
the Administrator on account of a failed deposi-
tory institution and each claim pending at such
time on behalf of the insured depository institu-
228
tion, the Administrator shall provide the follow-
ing information, together with any additional
information which may be necessary in the dis-
cretion of the Administrator to provide a true
and accurate evaluation of the claim:
‘‘(i) The name of the claimant.
‘‘(ii) The amount of any monetary
claim and a description of other relief re-
quested.
‘‘(iii) The court or tribunal in which
the claim is pending, if any.
‘‘(iv) The law firm retained by the
Administrator (if any), the firm’s assess-
ment of the validity of the claim, and the
number of other claims or suits being han-
dled by the firm on behalf of the Adminis-
trator or any other depository institution
for which the Administrator has been ap-
pointed conservator or receiver.
‘‘(v) With respect to any law firm re-
ferred to in clause (iv), whether a waiver
of the conflict of interest rules has been
made in connection with the provision of
services by the firm.
229
‘‘(vi) The aggregate of fees paid to
any law firm during the quarter in connec-
tion with the claim.
‘‘(vii) The expected date of resolution
of the claim.
‘‘(viii) The condition of any collateral
involved with respect to the claim.
‘‘(ix) The nature of any counterclaims
or defenses.
‘‘(x) The attorney or supervisor em-
ployed by the Administrator who is respon-
sible for monitoring the claims process on
behalf of the Administrator.
‘‘(I) CURRENCY AND ANALYSIS OF INFOR-
MATION.—
‘‘(i) IN GENERAL.—The Administrator
shall, within 6 months of the date of the
enactment of the Revitalization of Deposi-
tory Institution Liquidation Procedures
Act of 1993, provide the information re-
quired in reports under this paragraph, on
a real time basis with the capability of
sorting, 
comparing, 
and 
summarizing
across categories, locations, relationships
and association, and status, so that the
230
progress of the resolution effort can be
meaningfully judged.
‘‘(ii) CERTIFICATION.—The Adminis-
trator shall certify each printed report as
being true and accurate to the best ability
of the Administrator, and all estimates or
questionable data shall be prominently
marked.
‘‘(J) FEDERAL
FINANCING
BANK
LOAN
STATUS.—The report shall contain the following
information with respect to loans from the Fed-
eral Financing Bank to the Administrator:
‘‘(i) The total amount of loans out-
standing at the beginning of the quarter.
‘‘(ii) The total amount of loans origi-
nated during the quarter.
‘‘(iii) The total amount of loans re-
paid during the quarter.
‘‘(iv) The total amount of loans out-
standing at the end of the quarter.
‘‘(K) SELLER
FINANCING.—The report
shall contain information regarding the Admin-
istrator’s use of seller financing to encourage
the sales of assets during the quarter, including
the following:
231
‘‘(i) A total of the amount of funds
used for seller financing purposes during
the quarter.
‘‘(ii) The number of applications re-
ceived by the Administrator which re-
quested seller financing.
‘‘(iii) A breakdown of the type of as-
sets sold, according to the categories listed
in subclauses (I) through (VIII) of sub-
paragraph (B)(vii).
‘‘(iv) Projections of the total amount
of seller financing which will be needed
during the succeeding 2 quarters.’’.
SEC. 303. STUDY OF STANDARDIZED RECORDS.
On or before June 1, 1993, the Office of Thrift Su-
pervision shall report to the Senate Committee on Bank-
ing, Housing, and Urban Affairs and the House Commit-
tee on Banking, Finance and Urban Affairs, on the fea-
sibility of requiring a nationwide uniform automated rec-
ordkeeping system for insured depository institutions that
would assure the creation, maintenance and accuracy of
the books and records of savings and loan institutions in
a manner sufficient to assure that if regulatory action
must be initiated against such an insured depository insti-
tution, the conservator or receiver shall receive complete
232
and substantially accurate information about the assets
and liabilities of the institution.
TITLE IV—REGULATORY
MEASURES
SEC. 401. 2 PERCENT CAPITAL CUT-OFF.
(a) IN GENERAL.—Section 38(h)(3) of the Federal
Deposit Insurance Act (12 U.S.C. 1831o(h)(3)) is amend-
ed to read as follows:
‘‘(3) CONSERVATORSHIP OR RECEIVERSHIP RE-
QUIRED.—
‘‘(A) IN GENERAL.—Before the end of the
180-day period beginning on the date any in-
sured depository institution becomes critically
undercapitalized and notwithstanding any provi-
sion of State law, the appropriate Federal
banking agency shall appoint a receiver or, with
the approval of the Agency, a conservator for
such institution.
‘‘(B) APPOINTMENT
OF
RECEIVER
RE-
QUIRED IF OTHER ACTION FAILS TO RESTORE
CAPITAL.—In the case of any institution de-
scribed in subparagraph (A) for which a re-
ceiver was not appointed before the end of the
180-day period referred to in such subpara-
graph, the appropriate Federal banking agency
233
shall, notwithstanding any provision of State
law, appoint a receiver for such institution as
follows:
‘‘(i) If the capital of such institution
does not exceed the critical capital level at
the end of the 9-month period beginning
on the date action is first taken by the
agency under subparagraph (A) with re-
spect to such institution, a receiver shall be
appointed by the end of such period.
‘‘(ii) If the capital of such institution
exceeds the critical capital level at the end
of such 9-month period but fails to exceed
such level at the end of any of the first 3
months following such period, a receiver
shall be appointed as of the end of such
month.
‘‘(C) ACQUISITION BY ANOTHER INSURED
DEPOSITORY
INSTITUTION.—Notwithstanding
the requirement under subparagraph (A) to ap-
point a conservator or receiver for an insured
depository institution and subject to section 13,
the appropriate Federal banking agency may
require the insured depository institution to be
acquired (as defined in section 13(f)(8)(B)) by
234
another insured depository institution which of-
fers to acquire such institution if the agency de-
termines, with the concurrence of the Agency
that such acquisition would resolve the capital
problems of the institution in a manner that is
least costly to the affected deposit insurance
fund.’’.
SEC. 402. PUBLIC AVAILABILITY OF EXAMINATION INFOR-
MATION.
(a) AVAILABILITY REQUIRED FOR CERTAIN INSTITU-
TIONS.—
(1) IN
GENERAL.—Each appropriate banking
agency shall make available to the public copies of
reports of all examinations of each failed depository
institution that received funds, as defined in section
406, or of a holding company of such institution,
that was performed by that banking agency or its
predecessor, during the 5-year period preceding the
transfer, failure, or receipt of funds.
(2) CONSULTATION.—Each appropriate bank-
ing agency other than the National Credit Union
Administration Board shall consult with the Federal
Deposit Insurance Corporation or the Agency prior
to making such reports available to the public.
(b) DELAY OF PUBLICATION.—
235
(1) THREATS TO SAFETY OR SOUNDNESS OF
INSTITUTION.—
(A) IN
GENERAL.—If the appropriate
banking agency makes a determination in writ-
ing that release of an examination report would
seriously threaten the safety or soundness of an
insured depository institution, such agency may
initially delay release of the examination report
for a reasonable period of time, not to exceed
12 months from the date of the transfer, fail-
ure, or receipt of funds described in section
406.
(B) EXTENSION
OF
DELAY.—Any deter-
mination under subparagraph (A) may be re-
newed on an annual basis.
(2) ONGOING INVESTIGATIONS.—If the appro-
priate banking agency or the Agency determines in
writing that release of a portion of an examination
report would hinder an ongoing investigation of al-
leged negligence, or of other activity that would give
rise to either administrative or civil proceedings, the
portion of the examination report directly pertaining
to the alleged negligence or other activity, may be
withheld from release during the investigation, until
the earliest of—
236
(A) the date a notice of charges is issued;
(B) the date a complaint is filed; or
(C) the end of a period not to exceed 24
months from the date of the transfer, failure, or
receipt of funds described in section 406.
(3) DELAY
PENDING
CRIMINAL
INVESTIGA-
TION.—
(A) IN
GENERAL.—If the appropriate
banking agency and the Attorney General of the
United States or, in the case of a State-char-
tered depository institution, the attorney gen-
eral of a State, jointly determine that release of
a portion of an examination report would
hinder an ongoing investigation of alleged
criminal activity, the portion of the examination
report directly pertaining to the alleged crime
may be withheld from release until the earliest
of—
(i) the termination of such investiga-
tion;
(ii) the issuance of an indictment; or
(iii) the end of a period not to exceed
5 years from the date of the transfer, fail-
ure or receipt of funds described in section
406, whichever is earlier.
237
(B) GAO ACCESS TO INFORMATION.—The
Attorney General of the United States or the
attorney general of a State shall provide the
Comptroller General of the United States with
access to information regarding any such crimi-
nal investigation, and shall identify any law en-
forcement agencies or resources assigned to the
investigation.
(c) EXCLUSION OF OPEN INSTITUTIONS.—
(1) OPEN
INSTITUTIONS.—This section shall
not apply to any open insured depository institution
and shall not be construed to require disclosure to
the public of any report of examination of any open
insured depository institution.
(2) AFFILIATED
SOLVENT
INSTITUTIONS.—In
connection with the release of an examination report
of a holding company of a failed institution, nothing
in this section shall be construed as requiring the re-
lease of any examination report information regard-
ing any solvent depository institution that is also a
subsidiary of such holding company.
SEC. 403. PROHIBITION OF CONFIDENTIAL SETTLEMENTS.
Notwithstanding any other provision of law or any
regulation or order, any agreement or settlement of claims
between the Agency or the Federal Deposit Insurance Cor-
238
poration and any other party which relates to an institu-
tion described in section 406 shall be made available to
the public.
SEC. 404. APPLICABILITY.
The requirements of section 402 shall apply—
(1) to any insured depository institution that
has had its assets or liabilities, or any part thereof,
transferred to the FSLIC Resolution Fund or the
Agency; or
(2) to any Bank Insurance Fund member that
has failed and received funds, if during either the
fiscal year in which the institution failed or the fis-
cal year in which the institution received funds, as
defined in section 406, the Bank Insurance Fund—
(A) had outstanding loans, or had other-
wise received funds, from the Department of
the Treasury, the Federal Financing Bank, or
any Federal Reserve bank; or
(B) had a negative fund balance;
(3) to any Savings Association Insurance Fund
member that has failed and received funds, if during
either the fiscal year in which the institution failed
or the fiscal year in which the institution received
funds, as defined in section 406, the Savings Asso-
ciation Insurance Fund—
239
(A) had outstanding loans, or had other-
wise received funds, from the Department of
the Treasury, the Federal Financing Bank, or
any Federal Reserve bank; or
(B) had a negative fund balance; and
(4) to any insured credit union that has failed
and received funds, if during either the fiscal year
in which the credit union failed or the fiscal year in
which the credit union received funds, as defined in
section 406, the National Credit Union Share Insur-
ance Fund—
(A) had outstanding loans, or had other-
wise received funds, from the Department of
the Treasury, the Federal Financing Bank, or
any Federal Reserve Bank; or
(B) had a negative fund balance.
SEC. 405. REMOVAL OF CUSTOMER INFORMATION FROM
EXAMINATION REPORTS.
In making available reports of examinations under
section 402, each appropriate Federal banking agency
shall excise the following information:
(1) NONINSTITUTION-AFFILIATED
PARTIES.—
The name of any person who is not an institution-
affiliated party with respect to an insured depository
240
institution and any other identifying information
with respect to any such person.
(2) INSTITUTION-AFFILIATED
PARTIES.—The
name of any institution-affiliated party and any in-
formation relating to an institution-affiliated party
that is not relevant to the relationship between the
insured depository institution and the party.
(3) OPEN
INSTITUTIONS.—The name of any
open insured depository institution and any other
identifying information with respect to any such in-
stitution.
(4) EXAMINERS.—Any reference to any exam-
iner or other banking agency employee involved in
the examination of the insured depository institu-
tion.
(5) WHISTLEBLOWERS.—Any reference to any
person who has provided information in confidence
to a banking agency which may be utilized to pursue
a civil or criminal action.
SEC. 406. DEFINITIONS.
For purposes of this section—
(1) an insured depository institution has
‘‘failed’’ if the Federal Deposit Insurance Corpora-
tion, Agency, or National Credit Union Administra-
tion Board—
241
(A) has been appointed as receiver or liq-
uidating agent for such institution; or
(B) has exercised the power to provide as-
sistance under section 13(c)(2) of the Federal
Deposit Insurance Act or the analogous powers
under section 21A of the Federal Home Loan
Bank Act;
(2) an insured depository institution has ‘‘re-
ceived funds’’ if the institution, any company that
controls such institution, or any acquiring institution
receives cash or other valuable consideration from
the National Credit Union Administration Board,
the Agency, the Federal Deposit Insurance Corpora-
tion, or any Federal Reserve bank that lends for
more than 30 days while the insured depository in-
stitution is critically undercapitalized within the 1-
year period before the failure of the insured deposi-
tory institution whether in the form of a loan, a pay-
ment to depositors or other creditors, the assump-
tion of liabilities, or otherwise;
(3) the term ‘‘insured depository institution’’
has the same meaning as in section 3 of the Federal
Deposit Insurance Act, except that such term in-
cludes an insured credit union, as defined in section
101 of the Federal Credit Union Act; and
242
(4) the term ‘‘appropriate banking agency’’
means the Federal Deposit Insurance Corporation,
the Board of Governors of the Federal Reserve Sys-
tem, the Comptroller of the Currency, the Office of
Thrift Supervision, or the National Credit Union
Administration Board, and, in the case of a State-
chartered depository institution, the appropriate
State depository institution regulatory agency.
SEC. 407. ADDITIONAL DISCLOSURES BY FDIC, NCUA, AND
AGENCY.
(a) BORROWERS.—Not later than 6 months after
being appointed receiver or liquidating agent for any failed
institution that received funds, as defined in section 406,
the Federal Deposit Insurance Corporation, the National
Credit Union Administration, or the Agency, as appro-
priate, shall make available to the public the name and
loan balance of any borrower who—
(1) was an executive officer, director, or prin-
cipal shareholder of the institution, or a related in-
terest of any such person, as such terms are defined
in section 22(h) of the Federal Reserve Act; and
(2) at the time that the receiver was appointed,
was more than 90 days delinquent on a loan.
(b) TRANSACTIONS.—Not later than 12 months after
being appointed receiver or liquidating agent for any failed
243
institution that received funds, as defined in section 406,
the Federal Deposit Insurance Corporation, the National
Credit Union Administration Board, or the Agency shall
make available, and update periodically thereafter, a list
of pending and settled lawsuits brought by such agency
involving transactions (other than loans described in sub-
section (a)) that caused a material loss to such institution
or to the deposit insurance fund.
SEC. 408. GAO AUDITS.
(a) IN GENERAL.—The Comptroller General of the
United States shall selectively audit examination reports
made available to the public by the appropriate Federal
banking agencies under section 402, and disclosures made
by the Federal Deposit Insurance Corporation, National
Credit Union Administration, and Agency under section
407, to assess compliance with the requirements of those
sections.
(b) NATURE, SCOPE, TERMS, AND CONDITIONS.—
The Comptroller General shall determine the nature,
scope, terms, and conditions of audits conducted under
this section.
244
TITLE V—COURT-ORDERED RES-
TITUTION IN CASES OF FI-
NANCIAL 
INSTITUTION
FRAUD 
AND 
PRIVATE 
AC-
TIONS
SEC. 501. IMPROVEMENTS IN COLLECTION OF COURT-OR-
DERED RESTITUTION IN CASES OF FINAN-
CIAL INSTITUTION FRAUD.
(a) IN GENERAL.—Section 8 of the Federal Deposit
Insurance Act (12 U.S.C. 1818) is amended by adding at
the end the following new subsection:
‘‘(w) SPECIAL RULES RELATING TO BANKING LAW
CONVICTIONS.—
‘‘(1) PREJUDGMENT
ATTACHMENT
OF
PRO-
CEEDS OF BANKING LAW VIOLATION.—In the case of
any property obtained by any person as a result of
any act which the Attorney General has probable
cause to believe is a banking law violation or any
property traceable to any such act, such property
may be treated as property obtained from a banking
law violation, or as property traceable to such viola-
tion, for purposes of section 1345(a)(2) of title 18,
United States Code.
‘‘(2) RESTITUTION
DUE
UPON
ISSUANCE
OF
ORDER.—Notwithstanding paragraph (1) of section
245
3663(f), in the case of an order of restitution issued
in connection with a conviction for a banking law
violation, restitution shall be due in full as of the
date of the order.
‘‘(3) 
RESTITUTION
ORDER
ENFORCEABLE
UNTIL PAID.—Notwithstanding any provision of sec-
tion 3663 of title 18, United States Code, any res-
titution order issued under such section in connec-
tion with a conviction for a banking law violation
shall remain enforceable under such title until the
total amount of restitution has been paid.
‘‘(4) ENFORCEMENT OF RESTITUTION ORDER
AS A LIEN.—In addition to the enforcement author-
ity under subsection (h) of section 3663 of title 18,
United States Code, a restitution order issued under
such section in connection with a banking law viola-
tion—
‘‘(A) shall constitute a lien against all of
the defendant’s property; and
‘‘(B) may be recorded as a lien in any ap-
propriate Federal or State office for the record-
ing of liens against real or personal property.
‘‘(5) 
APPOINTMENT
OF
TEMPORARY
RE-
CEIVER.—In the case of any action to enforce a res-
titution order issued under section 3663 of title 18,
246
United States Code, in connection with a banking
law violation, the court—
‘‘(A) on the motion of—
‘‘(i) a recipient of restitution under
the order; or
‘‘(ii) any person authorized to act on
behalf of any such recipient; or
‘‘(B) on the court’s own motion,
may appoint a temporary receiver to administer the
defendant’s assets to ensure payment of restitution
pursuant to the order to the maximum possible ex-
tent.
‘‘(6) DISCLOSURE OF FINANCIAL INFORMATION
IN PRESENTENCE REPORT TO RECIPIENTS OF RES-
TITUTION.—In any case in which a restitution order
has been issued under section 3663 of title 18, Unit-
ed States Code, in connection with a banking law
violation, any financial information relating to the
defendant which is contained in the report on the
presentence investigation conducted pursuant to
Rule 32(c) of the Federal Rules of Criminal Proce-
dure with respect to such violation shall be made
available by the court after the sentencing of the de-
fendant to any recipient of restitution under the
order and any person authorized to act on behalf of
247
any such recipient, including any person who files an
action on behalf of the Agency under subsection (x).
‘‘(7) PAYMENT OF RESTITUTION DIRECTLY TO
AGENCY.—
‘‘(A) IN GENERAL.—Notwithstanding any
provision of section 3663 of title 18, United
States Code, or the terms of any restitution
order issued under such section in connection
with a banking law violation before the date of
the enactment of the Revitalization of Deposi-
tory-Institution Liquidation Procedures Act of
1993, that portion of the amount of restitution
under any order under such section which ac-
crues to the benefit of the Agency in accordance
with such order, including any amount accruing
to the Agency in the Agency’s capacity as con-
servator or receiver for an insured depository
institution, shall be paid directly to the Agency
by the defendant subject to the restitution
order.
‘‘(B) NOTICE BY AGENCY.—If the Agency
succeeds to the interest of any person receiving
restitution under section 3663 of title 18, Unit-
ed States Code, in connection with a banking
law violation, the Agency shall promptly notify
248
the defendant who is subject to the restitution
order of the amount which shall be paid directly
to the Agency and the procedure for making
such payment.
‘‘(C) PROCEDURES.—The Agency the At-
torney General, and the Director of the Admin-
istrative Office of the United States Courts
shall establish procedures for providing notice
to any appropriate officer or employee of the
United States, any appropriate court of the
United States, or any other interested party to
any restitution order issued under section 3663
of title 18, United States Code, in connection
with a banking law violation that the Agency
has succeeded to the interest of any person re-
ceiving restitution under such order.
‘‘(D) APPLICABILITY TO RTC AND NCUA.—
If any portion of the amount of any restitution
ordered under section 3663 of title 18, United
States Code, accrues to the benefit of the Agen-
cy or the National Credit Union Administra-
tion, subparagraphs (A), (B), and (C) shall be
applied by substituting ‘‘Resolution, Asset Man-
agement and Liquidation Agency’’ or ‘National
Credit Union Administration’, as the case may
249
be, for ‘Corporation’ each place such term ap-
pears.
‘‘(E) SCOPE OF APPLICATION.—This para-
graph shall apply with respect to restitution
payable under any restitution order issued
under section 3663 of title 18, United States
Code, without regard to the date of issue of the
order.
‘‘(8) CONSIDERATION OF DEFENDANT’S ABIL-
ITY
TO
PAY
PROHIBITED.—In determining the
amount of any restitution ordered under section
3663 of title 18, United States Code, in connection
with a banking law violation or making any deter-
mination under section 3663(g) of such title with re-
spect to any defendant who is subject to such order,
the court shall not take into account the ability of
the defendant to pay.
‘‘(9) NOTICE
TO
RECIPIENT
OF
RESTITU-
TION.—If the full amount of restitution required to
be paid by a defendant pursuant to a restitution
order issued under section 3663 of title 18, United
States Code, in connection with a banking law viola-
tion has not been paid before the end of any period
of supervised release of such defendant pursuant to
the sentence of the court, the United States Parole
250
Commission or the probation officer of a district
court of the United States, as the case may be, shall
provide notice of the end of such period to each re-
cipient of restitution under such order who has not
been fully repaid.
‘‘(10) BANKING
LAW
VIOLATION
DEFINED.—
For purposes of this subsection and subsection (x),
the term ‘banking law violation’ has the meaning
given to such term in section 3322(d) of title 18,
United States Code.’’.
(b) EFFECTIVE DATE.—The amendment made by
subsection (a) shall take effect at the end of the 90-day
period beginning on the date of the enactment of this Act
and shall apply with respect to any banking law violation
or restitution order issued under section 3663 of title 18,
United States Code, in connection with any such violation
without regard to the date on which the violation was com-
mitted or the date of issue of the order.
SEC. 502. PRIVATE ACTIONS TO COLLECT RESTITUTION.
(a) IN GENERAL.—Section 8 of the Federal Deposit
Insurance Act (12 U.S.C. 1818) is amended by inserting
after subsection (w) (as added by section 504 of this title)
the following new subsection:
251
‘‘(x) PRIVATE ACTIONS TO COLLECT RESTITUTION
ORDERED IN CONNECTION WITH BANKING LAW VIOLA-
TIONS.—
‘‘(1) IN
GENERAL.—If any portion of the
amount of restitution ordered under section 3663 of
title 18, United States Code, for which the Agency
is the recipient, including any amount accruing to
the Agency in the Agency’s capacity as conservator
or receiver for any insured depository institution
which is a recipient under the order, remains out-
standing at the end of the 6-month period beginning
on the later of—
‘‘(A) the date the restitution order is is-
sued; or
‘‘(B) in the case of any such depository in-
stitution, the date of the appointment of the
Agency as conservator or receiver for the depos-
itory institution.
any person may file an action in a Federal or State
court of competent jurisdiction to recover, on behalf
of the Agency any asset of, or traceable to, any per-
son liable for such portion of the restitution in satis-
faction of the order.
‘‘(2) SHARE OF ASSETS.—Subject to paragraph
(9), if any asset is recovered on behalf of the Agency