I
103D CONGRESS
1ST SESSION
H. R. 1725
To limit excessive compensation and bonuses paid by the Resolution Trust
Corporation and for other purposes.
IN THE HOUSE OF REPRESENTATIVES
APRIL 20, 1993
Mr. BACHUS of Alabama (for himself, Mr. BEVILL, Mr. DEAL, Mr. JOHNSON
of Georgia, Mr. EWING, Mr. BARRETT of Wisconsin, Mr. RIDGE, Mr.
SAM JOHNSON of Texas, Mr. CRAMER, Mr. ROYCE, Mr. POMBO, Mr.
HILLIARD, Mr. BLUTE, Mrs. FOWLER, Mr. DUNCAN, Mr. EVERETT, Mr.
KING, Mr. CALLAHAN, and Mr. BROWDER) introduced the following bill;
which was referred to the Committee on Banking, Finance and Urban
Affairs
A BILL
To limit excessive compensation and bonuses paid by the
Resolution Trust Corporation 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 shall be cited as the ‘‘Resolution Trust Cor-
poration Compensation Reform Act of 1993’’.
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SEC. 2. RTC COMPENSATION REFORM.
Section 21A of the Federal Home Loan Bank Act
(12 U.S.C. § 1441a) is amended by adding the following
new subsection:
‘‘(x) LIMITATIONS ON EXCESSIVE COMPENSATION.—
‘‘(1) 
COMPENSATION.—Notwithstanding 
any
other provision of this Act, no employee of the
Thrift Depositor Protection Oversight Board and no
employee that the Resolution Trust Corporation may
use from the Federal Deposit Insurance Corporation
pursuant to subsection (b)(8) of this section, may
receive a total amount of allowances, benefits, com-
pensation, and pay differentials, including bonuses
and other awards, in excess of the total amount of
allowances, benefits, compensation, and pay differen-
tials, including bonuses and other awards, which
may be provided to the Chief Executive Officer of
the Corporation or any other officer holding a posi-
tion at level III of the Executive Schedule.
‘‘(2) BONUSES.—Notwithstanding any other
provision of this Act, no employee of the Thrift De-
positor Protection Oversight Board and no employee
that the Resolution Trust Corporation may use from
the Federal Deposit Insurance Corporation pursuant
to subsection (b)(8) of this section, may receive any
bonus or other award, unless such bonus or award
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is given in conformity with the requirements of
chapter 45 of title 5, United States Code.
‘‘(3) REGIONAL PAY DIFFERENTIAL.—Notwith-
standing any other provision of this Act, no em-
ployee of the Thrift Depositor Protection Oversight
Board and no employee that the Resolution Trust
Corporation may use from the Federal Deposit In-
surance Corporation pursuant to subsection (b)(8) of
this section, may receive any locality based com-
parability payment or any other form of regional pay
differential, unless such payment or pay differential
is made in conformity with title 5, United States
Code.’’.
SEC. 3. FDIC COMPENSATION REFORM.
The Federal Deposit Insurance Act (12 U.S.C. 1811
et seq.) is amended by adding the following new section:
‘‘SEC. 44. LIMITATIONS ON EXCESSIVE COMPENSATION.
‘‘(a) COMPENSATION.—Notwithstanding any other
provision of this Act, no employee of Corporation may re-
ceive a total amount of allowances, benefits, compensation,
and pay differentials, including bonuses and other awards,
in excess of the total amount of allowances, benefits, com-
pensation, and pay differentials, including bonuses and
other awards, which may be provided to the Chairperson
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of the Corporation or any other officer holding a position
at level III of the executive schedule.
‘‘(b) BONUSES.—Notwithstanding any other provi-
sion of this Act, no employee of the Corporation may re-
ceive any bonus or other award, unless such bonus or
award is given in conformity with the requirements of
chapter 45 of title 5, United States Code.
‘‘(c) REGIONAL PAY DIFFERENTIAL.—Notwithstand-
ing any other provision of this Act, no employee of the
Corporation may receive any locality based comparability
payment or any other form of regional pay differential,
unless such payment or pay differential is made in con-
formity with title 5, United States Code.’’.
Æ