I
103D CONGRESS
1ST SESSION
H. R. 2661
To enhance the availability of credit in disaster areas by reducing the regu-
latory burden imposed upon insured depository institutions to the extent
such action is consistent with the safety and soundness of the institu-
tions.
IN THE HOUSE OF REPRESENTATIVES
JULY 15, 1993
Mr. GRAMS (for himself, Mr. BEREUTER, Mr. LEACH, Mr. SMITH of Iowa, Mr.
MCCOLLUM, Mr. NUSSLE, Mr. PETRI, Mr. GILCHREST, Mr. RAMSTAD,
Mr. BARRETT of Nebraska, Mr. EMERSON, Mr. VOLKMER, Mr. LIGHT-
FOOT, Ms. DANNER, Mr. TALENT and Mr. WHEAT) introduced the fol-
lowing bill; which was referred to the Committee on Banking, Finance
and Urban Affairs
A BILL
To enhance the availability of credit in disaster areas by
reducing the regulatory burden imposed upon insured
depository institutions to the extent such action is con-
sistent with the safety and soundness of the institutions.
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 ‘‘Depository Institutions
Disaster Relief Act of 1993’’.
SEC. 2. EMERGENCY WAIVERS OF BURDENSOME REGU-
LATORY 
REQUIREMENTS 
FOR 
DISASTER
AREAS.
The Federal Deposit Insurance Act (12 U.S.C. 1811
et seq.) is amended by adding at the end the following
new section:
‘‘SEC. 44. EMERGENCY WAIVERS FOR DISASTER AREAS.
(a) IN GENERAL.—Each Federal banking agency
shall, by regulation or order, waive the applicability of any
provision of law or regulation to any insured depository
institution which is located within, or a significant portion
of the service area of which is located within, a disaster
area if—
‘‘(1) the waiver takes effect before the end of
the 30-month period beginning on the date on which
the President determines, pursuant to section 401 of
the Robert T. Stafford Disaster Relief and Emer-
gency Assistance Act, that a major disaster exists in
the area; and
‘‘(2) the agency determines that the waiver—
‘‘(A) would enhance the institution’s ability
to make additional credit available in the disas-
ter area; and
‘‘(B) is consistent with the safety and
soundness of the institution.
‘‘(b) 3-YEAR LIMIT ON WAIVERS.—Any waiver grant-
ed under this section shall expire not later than 3 years
after the date of the determination referred to in sub-
section (a)(1).
‘‘(c) PUBLICATION REQUIRED.—After granting any
waiver under subsection (a), an appropriate Federal bank-
ing agency shall publish in the Federal Register a state-
ment which—
‘‘(1) describes the waiver; and
‘‘(2) explains how the waiver—
‘‘(A) will enhance the availability of addi-
tional credit in the disaster area; and
‘‘(B) is consistent with safety and sound-
ness of any insured depository institution which
is subject to the waiver.
‘‘(d) DISASTER AREA DEFINED.—For purposes of
this section, the term ‘disaster area’ means—
‘‘(1) an area in which the President has deter-
mined, pursuant to section 401 of the Robert T.
Stafford Disaster Relief and Emergency Assistance
Act, that a major disaster exists; and
‘‘(2) any area which—
‘‘(A) is adjacent to an area described in
paragraph (1); and
‘‘(B) has suffered flood- drought- or wind-
related damage as a result of the same set of
circumstances giving rise to the determination
referred to in paragraph (1) with respect to the
area described in such paragraph.’’.
Æ