Depository Institutions Disaster Relief Act of 1993
PL 103-76 (S.1273), enacted 08/12/1993

107 STAT. 752 
PUBLIC LAW 103-76—AUG. 12, 1993 
Public Law 103-76 
103d Congress 
Aug. 12, 1993 
[S. 1273] 
Depository 
Institutions 
Disaster Relief 
Act of 1993. 
12 u s e 1811 
note. 
12 u s e 4008 
note. 
Federal 
Register, 
publication. 
An Act 
To facilitate recovery from the recent flooding of the Mississippi River and its 
tributaries by providing greater flexibility for depository institutions and their 
regulators, and for other purposes. 
Be it enacted by the Senate and House of Representatives 
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. TRUTH IN LENDING ACT; EXPEDITED FUNDS AVAILABILITY 
ACT. 
(a) TRUTH IN LENDING ACT.—During the 240-day period begin-
ning on the date of enactment of this Act, the Board of Governors 
of the Federal Reserve System may make exceptions to the Truth 
in Lending Act for transactions within an area in which the Presi-
dent, pursuant to section 401 of the Robert T, Stafford Disaster 
Relief and Emergency Assistance Act, has determined, on or after 
April 1, 1993, 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 1993 flooding of the Mis-
sissippi River and its tributaries, if the Board determines that 
the exception can reasonably be expected to alleviate hardships 
to the public resulting from such disaster that outweigh possible 
adverse effects. 
(b) EXPEDITED FUNDS AVAILABILITY ACT.—During the 240-day 
period beginning on the date of enactment of this Act, the Board 
of Grovernors 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 subsection (a) of 
this section if the Board determines that the exception can reason-
ably be expected to alleviate hardships to the public resulting 
from such disaster that outweigh possible adverse effects. 
(c) TIME LIMIT ON EXCEPTIONS.—Any exception made under 
this section shall expire not later than October 1, 1994, 
(d) PUBLICATION REQUIRED.—The Board of Governors of the 
Federal Reserve System shall pubUsh in the Federal Register a 
statement that— 
(1) describes any exception made under this section; and 
(2) explains how the exception can reasonably be expected 
to produce benefits to the public that outweigh possible adverse 
effects. 
PUBLIC LAW 103-76—AUG. 12, 1993 
107 STAT. 753 
SEC. 3. DEPOSIT OF INSURANCE PROCEEDS. 
12 USC 183 
lo 
(a) IN GENERAL.—^The appropriate Federal banking agency may, 
by order, permit an insured depository institution to subtract from 
the institution's total assets, in calculating compliance with the 
leverage limit prescribed under section 38 of the Federal Deposit 
Insurance Act, an amount not exceeding the qualifying amount 
attributable to insurance proceeds, if the agency determines that— 
(1) the institution— 
(A) had its principal place of business within an area 
in which the President, pursuant to section 401 of the 
Robert T. Stafford Disaster Relief and Emergency Assist-
ance Act, has determined, on or after April 1, 1993, 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 1993 flooding of the Mis-
sissippi River and its tributaries, on the day before the 
date of £uiy such determination; 
(B) derives more than 60 percent of its total deposits 
from persons who normally reside within, or whose prin-
cipal place of business is normally within, areas of intense 
devastation caused by the major disaster; 
(C) was adequately capitalized (as defined in section 
38 of the Federal Deposit Insurance Act) before the major 
disaster; and 
(D) has an acceptable plan for managing the increase 
in its total assets ana total deposits; and 
(2) the subtraction is consistent with the purpose of section 
38 of the Federal Deposit Insurance Act. 
(b) TIME LIMIT ON EXCEPTIONS.—Any exception made under 
this section shall expire not later than April 1, 1995. 
(c) DEFINITIONS.—For purposes of this section: 
(1) APPROPRIATE FEDERAL BANKING AGENCY.—The term 
"appropriate Federal banking agency" has the same meaning 
as in section 3 of the Federal Deposit Insurance Act. 
(2) INSURED DEPOSITORY INSTITUTION.—The term "insured 
depository institution" has the same meaning as in section 
3 of the Federal Deposit Insurance Act. 
(3) LEVERAGE LIMIT.—The term "leverage limit" has the 
same meaning as in section 38 of the Federal Deposit Insurance 
Act. 
(4) QUALIFYING AMOUNT ATTRIBUTABLE TO INSURANCE PRO-
CEEDS.—The term "qualifying amount attributable to insurance 
proceeds" means the amount (if any) by which the institution's 
total assets exceed the institution's average total assets during 
the calendar quarter ending before the date of any determina-
tion referred to in subsection (a)(1)(A), because of the deposit 
of insurance pajmaents or governmental assistance made with 
respect to damage caused by, or other costs resulting from, 
the major disaster, 
SEC. 4. BANKING AGENCY PUBLICATION REQUIREMENTS. 
12 USC 1828 
(a) 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 AssistEuice Act, has 
107 STAT. 754 
PUBLIC LAW 103-76—AUG. 12, 1993 
Federal 
Register, 
publication. 
12 u s e 1811 
note. 
determined, on or after April 1, 1993, 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 1993 flooding 
of the Mississippi River and its tributaries, if the agency determines 
that the action would facilitate recovery from the major disaster: 
(1) PROCEDURE.—Exercising the agenc^s authority under 
provisions of law other than this section without complying 
with— 
(A) any requirement of section 553 of title 5, United 
States Code; or 
(B) any provision of law that requires notice or oppor-
tunity for hearing or sets maximum or minimum time 
limits with respect to agency action. 
(2) PUBLICATION REQUIREMENTS.—^Making exceptions, with 
respect to institutions or other entities for which the agency 
is the primary Federal regulator, to— 
(A) any publication requirement with respect to 
establishing branches or other deposit-taking facilities; or 
(B) any similar publication requirement. 
(b) PUBLICATION REQUIRED.—^A qualifying regulatory agency 
shall publish in the Federal Register a statement that— 
(1) describes any action taken under this section; and 
(2) explains the need for the action. 
(c) QUALIFYING REGULATORY AGENCY DEFINED.—For purposes 
of this section, the term "qualifying regulatory agencjr" means— 
(1) the Board of Grovemors of the Federal Reserve System; 
(2) the Comptroller of the Currency; 
(3) the Director of the Office of Thrift Supervision; 
(4) the Federal Deposit Insurance Corporation; 
(5) the Financial Institutions Examination Council; 
(6) the National Credit Union Administration; and 
(7) with respect to chapter 53 of title 31, United States 
Code, the Secretary of the Treasury. 
(d) EXPIRATION.—^Any exception made under this section shall 
expire not later than April 1,1994. 
SEC. 
5
. 
STUDY; 
REPORT 
TO 
THE 
CONGRESS. 
(a) STUDY.—^The Secretary of the Treasury, after consultation 
with the appropriate Federal banking agencies (as defined in section 
3 of the Federal Deposit Insurance Act), shall conduct a study 
t h a t ^ 
(1) examines how the agencies and entities granted author-
ity by the Depository Institutions Disaster Relief Act of 1992 
and by this Act have exercised such authority; 
(2) evaluates the utility of such Acts in facilitating recovery 
from disasters consistent with the safety and soundness of 
depository institutions; and 
(3) contains recommendations with respect to whether the 
authority granted by this Act should be made permanent. 
(b) REPORT TO THE CONGRESS.—^Not later than 18 months after 
the date of the enactment of this Act, the Secretary of the Treasury 
shall submit to the Congress a report on the results of the study 
required by subsection (a). 
SEC. 6. SENSE OF THE CONGRESS. 
It is the sense of the Congress that the Board of Grovernors 
of the Federal Reserve System, the Comptroller of the Currency, 
the Director of the Office of Thrift Supervision, the Federal Deposit 
PUBLIC LAW 103-76—AUG. 12, 1993 
107 STAT. 755 
Insurance Corporation, and the National Credit Union Administra-
tion should encourage depository institutions to meet the financial 
services needs of their communities and customers located in areas 
affected by the 1993 flooding of the Mississippi lUver and its tribu-
taries. 
SEC. 7. OTHER AUTHORITY NOT AFFECTED. 
Nothing in this Act limits the authority of any department 
or agency under any other provision of law. 
Approved August 12, 1993. 
12 u s e 1811 
note. 
LEGISLATIVE HISTORY—S. 1273 (H.R. 2808): 
CONGRESSIONAL RECORD, Vol. 139 (1993): 
July 30, considered and passed Senate. 
Aug. 2, H.R. 2808 considered and passed House. 
Aug. 3, S. 1273 considered and passed House, amended. 
Aug. 5, Senaite concurred in House amendments.