An Act to provide security measures far banks and other financial institutions
PL 90-389 (H.R.15345), enacted 07/07/1968

294 
PUBLIC LAW 90-388-JULY 6, 1968 
[82 STAT. 
July 6, 1968 
tli.R. 
16451] 
Public Law 90-388 
AN ACT 
To authorize the Secretary of Agriculture to cooperate with the several govern-
ments of Central America in the prevention, control, and eradication of foot-
and-mouth disease or rinderi)est. 
U.S.-Central 
America. 
Livestock dis-
ease control. 
28 Stat. 622; 
40 Stat. 1270. 
Appropriation. 
Be it enacted by the /Senate and House of Eepresentatives 
of the 
United States of America in Congress assembled, That the Secretary 
of Agriculture is authorized to cooperate with the several governmentvS 
of Central America in carrying out operations or measures to prevent 
or retard, suppress, or control, or to eradicate foot-and-mouth disease 
or rinderpest in Central America where he deems such action necessary 
to protect the livestock and related industries of the United States. In 
performing the operations or measures herein authorized, the several 
governments of Central America shall be responsible for the authority 
necessary to carry out such operations or measures on all lands and 
properties in each nation and for such other facilities and means as in 
the discretion of the Secretary of Agriculture are necessary. The 
measure and character of cooperation carried out under this Act on the 
part of the United States and on the part of the several governments 
of Central America, including the expenditure or use of nmds appro-
priated pursuant to this Act, shall be such as may be prescribed 
by the Secretary of Agriculture. Arrangements for the cooperation 
authorized by this Act shall be made through and in consultation with 
the Secretary of State. The authority contained in this Act is in addi-
tion to and not in substitution for the authority of existing law. 
SEC. 2. For purposes of this Act, funds appropriated pursuant 
thereto may also be used for the purchase or hire of passenger motor 
A'^ehicles and aircraft, for printing and binding without regard to sec-
tion 87 of the Act of January 12, 1895, or section 11 of the Act of 
March 1, 1919 (44 U.S.C. I l l ) , and for the employment of civilian 
nationals of the several nations of Central America. 
SEC. 3. The governments of Central America, for the purposes of this 
Act, mean the governments for those countries located between the 
Republic of Colombia and the Republic of Mexico. 
SEC. 4. In carrying out this Act the Secretary of Agriculture is 
further authorized to cooperate with other public and private organiza-
tions and individuals. 
SEC. 5. There are authorized to be appropriated such sums as may 
be necessary to carry out this Act. 
Approved July 6, 1968. 
July 7, 1968 
[H. R. 15345] 
Public Law 90-389 
AN ACT 
To provide security measures for banks and other financial institutions, and to 
provide for the appointment of the Federal Savings and Loan Insurance 
(\>ri)oration a« receiver. 
Bank Protection 
Act of 1968. 
"Federal super-
visory agency." 
Be It enacted by the Senate and House of Re2)resentatlres of the 
United States of America in Congress assembled, That this Act may be 
cited as the "Bank Protection Act of 1968*'. 
SEC. 2. As used in this Act the term "Federal supervisory agency'' 
moans— 
(1) The Comptroller of the Currency w ith respect to national 
banks and district banks, 
(2) The Board of Governors of the Federal Reserve System 
82 STAT. ] 
PUBLIC LAW 90-389-JULY 7, 1968 
295 
Avith respect to Federal Reserve banks and State bants which are 
members of the Federal Reserve System, 
(8) The Federal Deposit Insurance Corporation with respect 
to State banks which are not members of the Federal Reserve 
System but the deposits of which are insured by the Federal De-
posit Insurance Corporation, and 
(4) The Federal Home Loan Bank Board with respect to 
Federal savings and loan associations, and institutions the ac-
counts of which are insured by the Federal Savings and Ijoan 
Insurance Corporation. 
SEC. 3. (a) Within six months from the date of this Act, each 
security 
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measures. 
i^ederal supervisory agency shall promulgate rules establishmg 
minimum standards with which each bank or savings and loan 
association must comply with respect to the installation, mainte-
nance, and operation of security devices and procedures, reasonable 
in cost, to discourage robberies, burglaries, and larcenies and to 
assist in the identification and apprehension of persons who commit 
such acts. 
(b) The rules shall establish the time limits within which banks and 
savings and loan associations shall comply with the standards and shall 
require the submission of periodic reports with respect to the instal-
lation, maintenance, and operation of security devices and pro-
cedures. 
SEC. 4. The Federal supervisory agencies shall consult with 
insurance rates. 
(1) insurers furnishing insurance protection against losses re-
sulting from robberies, burglaries, and larcenies committed against 
financial institutions referred to in section 2, and 
(2) State agencies having supervisory or regulatory responsi-
bilities with respect to such insurers 
to determine the feasibility and desirability of premium rate differ-
entials based on the installation, maintenance, and operation of security 
devices and procedures. The Federal supervisory agencies shall report 
Report to con-
to the (^ongress the results of their consultations pursuant to this sec- ^""^^^ 
tion not later than two years after the date of enactment of this Act. 
SEC. 5. A bank or savings and loan association which violates a 
Penalty. 
rule promulgated pursuant to this Act shall be subject to a civil 
penalty which shall not exceed $100 for each day of the violation. 
SEC. 6. Subsection (c) of section 406 of the National Housing Act is ps^Li^c'a^'Su-
amended by inserting "(1)" after "(c)" and by adding at the end ment asTJc°eiver. 
thereof the following: 
48 stat. 1259. 
" (2) In the event the Federal Home I^an Bank Board determines— 
^^ ^^^ ^^^^ 
"(,A) that (i) a conservator, receiver, or other legal custodian 
(whether or not the Corporation) has been or is hereafter 
appointed for an insured institution which is not a Federal savings 
and loan association other than by the Board (whether or not such 
institution is in default) and that the appointment of such con-
servator, receiver, or custodian, or any combination thereof, has 
been outstanding for a period of at least fifteen consecutive days, 
or (ii) an insured institution (other than a Federal savings and 
loan association) has been closed by or under the laws of any 
State; 
"(1^) that one or more of the grounds specified in pjiragraph 
(6) (A) of section 5(d) of the Home Owners' I»an Act of 1933, 
fo f
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existed with respect to such institution at the time a conservator, 
receiver, or other legal custodian was appointed, or at the time 
such institution was closed, or exists thereafter during the appoint-
ment of the conserval or, receiver, or other legal custodian or while 
the institution is closed; and 
12 u s e 14(54 and 
note. 
96-600 O - 69 - 22
296 
PUBLIC LAW 90-390-JULY 7, 1968 
[82 STAT. 
•State. 
"(C) that one or more of the holders of withdiuwable accounts 
in such institution is unable to obtain a withdrawal of his account, 
in whole or in part; 
the Board shall have exclusive power and jurisdiction to appoint the 
Corporation as sole receiver for such institution. As used in this para-
graph (2), the term 'State' includes the Commonwealth of Puerto 
Rico, the territories and possessions, and any place subject to the 
jurisdiction of the United States. 
"(3) In any case where the Corporation is appointed receiver of an 
insui-ed institution pursuant to paragraph (2)— 
"(A) the provisions of section 5(d) of the Home Ownei-s' Loan 
Act of 1933 shall be applicable in the same manner and to the same 
extent as if such institution were a Federal savings and loan asso-
ciation with respect to which the Corporation had been appointed 
receiver under paragraph (6) thereof, and the provisions of para-
graph (14) of said subsection (d) shall be applicable in the same 
manner and the same extent that they would be applicable if the 
insured institution w^ere an institution referred to in the first 
sentence of said paragraph; and 
"(B) the Corporation shall have authority to liquidate such 
institution in an orderly manner or to make such other dis-
position of the matter as it deems to be in the best interests 
of the institution, its savers, and the Corporation. 
In connection with the liquidation of any such institution, the 
language 'the court or other public authority having jurisdiction 
over the matter' in subsection (d) of this section shall mean said 
Board." 
Approved July 7, 1968. 
July 7, 1968 
[H.R. 16162] 
Public Law 90-390 
AN ACT 
To enable the Extwrt-Import Bank of the United States to approve extension of 
certain loans, guarantees, and insurance in connection with exports from the 
United States in order to improve the balance of payments and foster the long-
term commercial interests of the United States. 
Export-Import 
Bank loans, etc. 
Extension. 
Ante, p. 49. 
Ante, p. 49. 
Limitation. 
Be It enacted by the Senate and House of Representatives 
of the 
United /States of America In Congress assembled, 
SECTION 1. (a) It is the policy of the Congress that the Export-
Import Bank of the United States should facilitate through loans, 
guarantees, and insurance (including coinsurance and reinsurance) 
those export transactions which, in the judgment of the Board of 
Directors of the Bank, offer sufficient likelihood of repayment to 
justify the Bank's support in order to actively foster the foreign 
trade and long-t-erm commercial interest of the United States. 
(b) The Bank shall specially designate loans, guarantees, and insur-
ance on the books of the Bank made under authority of this Act. 
In connection with guarantees and insurance, not less than 25 per 
centum of the related contractual liability of the Bank shall be taken 
into account for the purpose of applying the limitation imposed by 
section 7 of the Export-Import Bank of 1945, as amended; but the 
full amount of the related contractual liability of such guarantees and 
insurance shall be taken into account for the purpose of applying the 
limitation in section 2(c) (1) of that Act, concerning the amount of 
guarantees and insurance the Bank may have outstanding at any one 
time thereunder. The aggregate amount of loans plus 25 per centum