Housing and Community Development Act of 1992/Title XVI/Subtitle B

SUBTITLE B — RESOLUTION TRUST CORPORATION

Sec. 1611. Technical Corrections Relating to Title I of the Resolution Trust Corporation Refinancing, Restructuring, and Improvement Act of 1991.

(a) AMENDMENT RELATING TO SECTION 101.—

Section 21A(i)(3) of the Federal Home Loan Bank Act (12 U.S.C. 1441a(i)(3)) is amended by inserting a comma after ``necessary´´ and after ``billion´´.

(b) AMENDMENTS RELATING TO SECTION 102.—

(1) Section 11(c)(6)(B) of the Federal Deposit Insurance Act (12 U.S.C. 1821(c)(6)(B)) (as amended by section 102 of the Resolution Trust Corporation Refinancing, Restructuring, and Improvement Act of 1991) is amended by striking ``section 5(d)(2)(C)´´ and inserting ``subparagraph (C) or (F) of section 5(d)(2)´´.

(2) Effective 1 year after the date of the enactment of the Federal Deposit Insurance Corporation Improvement Act of 1991, section 11(c)(6)(B) of the Federal Deposit Insurance Act (as amended by paragraph (1) of this subsection) is amended by striking ``subparagraph (C) or (F) of section 5(d)(2)´´ and inserting ``subparagraph (A) or (C) of section 5(d)(2)´´.

(c) AMENDMENT RELATING TO SECTION 104.—

Section 21(e)(2) of the Federal Home Loan Bank Act (12 U.S.C. 1441(e)(2)) is amended by striking ``Thrift Depositor Protection Refinance´´ and inserting ``Refinancing, Restructuring, and Improvement´´.

(d) AMENDMENTS RELATING TO SECTION 106.—

(1) Section 21A(k)(7) of the Federal Home Loan Bank Act (12 U.S.C. 1441a(k)(7)) (as amended by section 106(a) of the Resolution Trust Corporation Refinancing, Restructuring, and Improvement Act of 1991) is amended by striking ``quarter ending on the last day of the month ending before the month in which such report is required to be submitted´´ and inserting ``preceding calendar quarter´´.

(2) Section 21A(k)(10) of the Federal Home Loan Bank Board (12 U.S.C. 1441a(k)(10)) (as added by section 106(c) of the Resolution Trust Corporation Refinancing, Restructuring, and Improvement Act of 1991) is amended by inserting ``Thrift Depositor Protection´´ before ``Oversight Board´´ each place such term appears.

(3) Section 21A(k)(11) of the Federal Home Loan Bank Act (12 U.S.C. 1441a(k)(11)) (as amended by section 106(d) of the Resolution Trust Corporation Refinancing, Restructuring, and Improvement Act of 1991) is amended—

(A) in subparagraph (A), by inserting ``Thrift Depositor Protection´´ before ``Oversight Board´´; and

(B) in subparagraph (B)—

(i) by striking ``an employee´´ and inserting ``employees´´; and

(ii) by striking ``Government´´ and inserting ``General´´.

(4) Section 106(e)(2) of the Resolution Trust Corporation Refinancing, Restructuring, and Improvement Act of 1991 is amended by striking ``annual reports´´ and inserting ``supplemental unaudited financial statements´´.

Sec. 1612. Technical Corrections Relating to Title II of the Resolution Trust Corporation Refinancing, Restructuring, and Improvement Act of 1991.

Section 21A(b)(8)(B)(i) of the Federal Home Loan Bank Act (12 U.S.C. 1441a(b)(8)(B)(i)) is amended by striking ``Thrift Depositor Protection Refinance´´ each place such term appears and inserting ``Refinancing, Restructuring, and Improvement´´.

Sec. 1613. Technical Corrections Relating to Title III of the Resolution Trust Corporation Refinancing, Restructuring, and Improvement Act of 1991.

(a) AMENDMENT RELATING TO SECTION 302.—

(1) Section 302 of the Resolution Trust Corporation Refinancing, Restructuring, and Improvement Act of 1991 is amended by striking subsection (c).

(2) Section 21A(k)(6)(A)(vii) of the Federal Home Loan Bank Act (12 U.S.C. 1441a(k)(6)(A)(vii)) is amended by inserting ``Thrift Depositor Protection´´ before ``Oversight Board's´´.

(3) Section 21A(q) of the Federal Home Loan Bank Act (12 U.S.C. 1441a(q)) (as added by section 251(c) of the Federal Deposit Insurance Corporation Improvement Act of 1991 and transferred by section 1614(a)(5)(E) of this subtitle) is amended by inserting ``Thrift Depositor Protection´´ before ``Oversight Board´´ each place such term appears.

(4) The heading for section 21A(a)(6) of the Federal Home Loan Bank Act (12 U.S.C. 1441a(a)(6)) is amended by striking ``OVERSIGHT´´ and inserting ``THRIFT DEPOSITOR PROTECTION OVERSIGHT´´.

(5) The heading for paragraph (8) of subsection (n) of section 21A of the Federal Home Loan Bank Act (12 U.S.C. 1441a) (as such subsection has been redesignated by section 314(3) of the Resolution Trust Corporation Refinancing, Restructuring, and Improvement Act of 1991) is amended by inserting ``THRIFT DEPOSITOR PROTECTION´´ before ``OVERSIGHT´´.

(6) The heading for section 21A of the Federal Home Loan Bank Act (12 U.S.C. 1441a) is amended by inserting ``thrift depositor protection´´ before ``oversight board´´.

(7) The headings for sections 21B(c)(8) and 21B(j)(2) of the Federal Home Loan Bank Act (12 U.S.C. 1441b(c)(8) and 1441B(j)(2)) are each amended by inserting ``THRIFT DEPOSITOR PROTECTION´´ before ``OVERSIGHT´´.

(8) The heading for section 21A(q) of the Federal Home Loan Bank Act (12 U.S.C. 1441a(q)) (as added by section 251(c) of the Federal Deposit Insurance Corporation Improvement Act of 1991 and transferred by section 1614(a)(5)(E) of this subtitle) is amended by inserting ``THRIFT DEPOSITOR PROTECTION´´ before ``OVERSIGHT´´.

(9) The heading for section 21B(k)(7) of the Federal Home Loan Bank Act (12 U.S.C. 1441b(k)(7)) is amended by striking ``OVERSIGHT´´ and inserting ``THRIFT DEPOSITOR PROTECTION OVERSIGHT´´.

(b) AMENDMENTS RELATING TO SECTION 303.—

(1) Section 303(2) of the Resolution Trust Corporation Refinancing, Restructuring, and Improvement Act of 1991 is amended by striking the comma after ``Corporation')´´.

(2) Section 21A(a)(2) of the Federal Home Loan Bank Act (12 U.S.C. 1441a(a)(2)) (as amended by section 303(2) of the Resolution Trust Corporation Refinancing, Restructuring, and Improvement Act of 1991 and the amendment made by paragraph (1) of this subsection) is amended by striking the 2d period after ``Act´´.

(c) AMENDMENTS RELATING TO SECTION 305.—

(1) Section 21A(a)(6)(C) of the Federal Home Loan Bank Act (12 U.S.C. 1441a(a)(6)(C)) is amended by striking ``paragraph (8) of this subsection´´ and all that follows through the period at the end and inserting ``paragraph (8)´´.

(2) Section 21A(a) of the Federal Home Loan Bank Act (12 U.S.C. 1441a(a)) is amended by redesignating paragraph (15) as paragraph (16) and inserting after paragraph (14) the following new paragraph:

``(15) REPORTS ON ANY MODIFICATION TO ANY STRATEGY, POLICY, OR GOAL.— If, pursuant to paragraph (6)(A), the Thrift Depositor Protection Oversight Board requires the Corporation to modify any overall strategy, policy, or goal, such board shall submit, before the end of the 30-day period beginning on the date on which the board first notifies the Corporation of such requirement, to the Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Banking, Finance and Urban Affairs of the House of Representatives an explanation of the grounds which the board determined justified the review and the reasons why the modification is necessary to satisfy any such ground.´´.

(d) AMENDMENTS RELATING TO SECTION 307.—

(1) Section 21A(a)(10) of the Federal Home Loan Bank Act (12 U.S.C. 1441a(a)(10)) is amended—

(A) by striking ``4´´ and inserting ``6´´;

(B) by adding at the end the following new sentence: ``The Thrift Depositor Protection Oversight Board shall maintain a transcript of the board's open meetings.´´; and

(C) in the heading, by striking ``QUARTERLY´´ and inserting ``OPEN´´.

(2) Section 21A(c)(10) of the Federal Home Loan Bank Act (12 U.S.C. 1441a(c)(10)) is amended by striking the last sentence (as added by section 307(2) of the Resolution Trust Corporation Refinancing, Restructuring, and Improvement Act of 1991).

(e) AMENDMENT RELATING TO SECTION 311.—

Section 21A(b)(8)(A) of the Federal Home Loan Bank Act (12 U.S.C. 1441a(b)(8)(A)) (as amended by section 311 of the Resolution Trust Corporation Refinancing, Restructuring, and Improvement Act of 1991) is amended by striking ``IN GENERAL.— ´´ and all that follows through the 1st comma and inserting ``IN GENERAL.— Except for the chief executive officer of the Corporation,´´.

(f) AMENDMENTS RELATING TO SECTION 314.—

(1) Section 21A(a)(8) of the Federal Home Loan Bank Act (12 U.S.C. 1441a(a)(8)) (as amended by section 314(1)(B) of the Resolution Trust Corporation Refinancing, Restructuring, and Improvement Act of 1991) is amended by striking ``AUTHORITY.— IN GENERAL.— The Corporation´´, and inserting ``AUTHORITY.— The Corporation´´.

(2) Section 21A(o)(2) of the Federal Home Loan Bank Act (12 U.S.C. 1441a(o)(2)) (as amended by section 314(5) of the Resolution Trust Corporation Refinancing, Restructuring, and Improvement Act of 1991) is amended by striking ``includes´´ and all that follows through ``any officer or employee of the Federal Deposit´´ and inserting ``includes any officer or employee of the Federal Deposit´´.

(g) AMENDMENT RELATING TO SECTION 316.—

Section 21A(l)(3)(B) of the Federal Home Loan Bank Act (12 U.S.C. 1441a(l)(3)(B)) (as amended by section 316 of the Resolution Trust Corporation Refinancing, Restructuring, and Improvement Act of 1991) is amended by striking ``for that party of the filing´´ and inserting ``for that party or the filing´´.

(h) ADDITIONAL TECHNICAL CORRECTIONS.—

(1) Paragraph (9) of section 21A(b) of the Federal Home Loan Bank Act (12 U.S.C. 1441a(b)(9)) (as so redesignated by section 310 of the Resolution Trust Corporation Refinancing, Restructuring, and Improvement Act of 1991) is amended—

(A) in subparagraph (G) (as so redesignated by section 314(2)(B)(i) of the Resolution Trust Corporation Refinancing, Restructuring, and Improvement Act of 1991), by striking ``(11)(A)(iv)´´ and inserting ``(10)(A)(iv)´´; and

(B) in subparagraph (I) (as so redesignated by section 314(2)(B)(i) of the Resolution Trust Corporation Refinancing, Restructuring, and Improvement Act of 1991), by striking ``through its Board of Directors´´.

(2) Paragraph (10) of section 21A(b) of the Federal Home Loan Bank Act (12 U.S.C. 1441a(b)(10)) (as so redesignated by section 310 of the Resolution Trust Corporation Refinancing, Restructuring, and Improvement Act of 1991) is amended—

(A) in subparagraph (A), by striking ``(10)´´ and inserting ``(9)´´; and

(B) in subparagraph (A)(i), by striking ``(12)´´ and inserting ``(11)´´.

(3) Paragraph (11)(E)(i) of section 21A(b) of the Federal Home Loan Bank Act (12 U.S.C. 1441a(b)(11)(E)(i)) (as so redesignated by section 310 of the Resolution Trust Corporation Refinancing, Restructuring, and Improvement Act of 1991) is amended by striking ``its´´ and inserting ``the chief executive officer's´´.

(4) Section 21A(c)(7) of the Federal Home Loan Bank Act (12 U.S.C. 1441a(c)(7)) is amended by striking ``(b)(11)(A)´´ and inserting ``(b)(10)(A)´´.

(5) Section 21A(d)(1)(B)(ii) of the Federal Home Loan Bank Act (12 U.S.C. 1441a(d)(1)(B)(ii)) is amended by striking ``paragraph (2)´´ and inserting ``paragraph (3)´´.

(6) Section 21A(k)(3)(B) of the Federal Home Loan Bank Act (12 U.S.C. 1441a(k)(3)(B)) is amended by striking ``subsection (b)(11)(B)´´ and inserting ``subsection (b)(10)(B)´´.

Sec. 1614. Technical Corrections Relating to Title IV of the Resolution Trust Corporation Refinancing, Restructuring, and Improvement Act of 1991.

(a) AMENDMENTS RELATING TO INCORRECT DESIGNATIONS OF NEW SUBSECTIONS AND PARAGRAPHS.—

(1) Section 401 of the Resolution Trust Corporation Refinancing, Restructuring, and Improvement Act of 1991 is amended by striking ``after subsection (s) (as added by section 227 of this Act)´´ and inserting ``after subsection (p) (as so redesignated by section 314(3) of this Act)´´.

(2) Section 402(a) of the Resolution Trust Corporation Refinancing, Restructuring, and Improvement Act of 1991 is amended by striking ``301´´ and inserting ``401´´.

(3) Section 403 of the Resolution Trust Corporation Refinancing, Restructuring, and Improvement Act of 1991 is amended by striking ``section 302´´ and inserting ``section 402´´.

(4) Section 404 of the Resolution Trust Corporation Refinancing, Restructuring, and Improvement Act of 1991 is amended by striking ``section 303´´ and inserting ``section 403´´.

(5) Section 21A of the Federal Home Loan Bank Act (12 U.S.C. 1441a) is amended—

(A) by redesignating subsection (t) (as added by section 401 of the Resolution Trust Corporation Refinancing, Restructuring, and Improvement Act of 1991) as subsection (r);

(B) by redesignating subsection (u) (as added by section 402(a) of the Resolution Trust Corporation Refinancing, Restructuring, and Improvement Act of 1991) as subsection (s);

(C) by redesignating subsection (v) (as added by section 403 of the Resolution Trust Corporation Refinancing, Restructuring, and Improvement Act of 1991) as subsection (t);

(D) by redesignating subsection (w) (as added by section 404 of the Resolution Trust Corporation Refinancing, Restructuring, and Improvement Act of 1991) as subsection (u); and

(E) effective as of the date of the enactment of the Federal Deposit Insurance Corporation Improvement Act of 1991, by transferring and inserting subsection (q) (as added by section 251(c) of the Federal Deposit Insurance Corporation Improvement Act of 1991) after subsection (p).

(6) For purposes of applying paragraph (13) of section 21A(b) of the Federal Home Loan Bank Act, the amendment made by section 405 of the Resolution Trust Corporation Refinancing, Restructuring, and Improvement Act of 1991, shall be considered to have been executed before the redesignation of such paragraph by section 310 of such Act.

(7) Effective as of the date of the enactment of the Federal Deposit Insurance Corporation Improvement Act of 1991—

(A) section 471 of such Act is amended by striking ``Home Owners' Loan Act´´ and inserting ``Federal Home Loan Bank Act´´; and

(B) subsection (q) of section 21A of the Federal Home Loan Bank Act (as added by section 471 of the Federal Deposit Insurance Corporation Improvement Act of 1991, as amended by subparagraph (A) of this paragraph) is hereby redesignated as subsection (v).

(b) OTHER TECHNICAL CORRECTIONS RELATING TO AMENDMENTS MADE BY TITLE IV.—

(1) Subsection (t)(1) of the Federal Home Loan Bank Act (12 U.S.C. 1441a) (as added by section 403 of the Resolution Trust Corporation Refinancing, Restructuring, and Improvement Act of 1991 and redesignated by subsection (a)(5) of this section) is amended by striking ``minority interim capital assistance program established by the Oversight Board by regulation pursuant to the strategic plan under subsection (a)´´ and inserting ``the minority capital assistance program established under subsection (u)(1)´´.

(2) Subsection (u)(1) of the Federal Home Loan Bank Act (12 U.S.C. 1441a) (as added by section 404 of the Resolution Trust Corporation Refinancing, Restructuring, and Improvement Act of 1991 and redesignated by subsection (a)(5) of this section) is amended by striking ``established by the Oversight Board by regulation pursuant to the strategic plan under subsection (a)´´ and inserting ``administered by the Corporation pursuant to the policy statement entitled the `Interim Statement of Policy Regarding Resolutions of Minority-Owned Depository Institutions´ adopted by the Corporation on January 30, 1990´´.

(3) Subsections (t)(3)(B) and (u)(5)(B) of section 21A of the Federal Home Loan Bank Act (12 U.S.C. 1441a) (as added by sections 403 and 404, respectively, of the Resolution Trust Corporation Refinancing, Restructuring, and Improvement Act of 1991 and redesignated by subsection (a)(5) of this section) are each amended by striking ``section 13(c)(8)´´ and inserting ``section 13(f)(8)(B)´´.

(4) Subsection (q) of section 21A of the Federal Home Loan Bank Act (12 U.S.C. 1441a) (as added by section 251(c) of the Federal Deposit Insurance Corporation Improvement Act of 1991 and transferred by subsection (a)(5) of this section) is amended by inserting ``Thrift Depositor Protection´´ before ``Oversight Board´´ each place such term appears.

Sec. 1615. Technical Corrections Relating to Title V of the Resolution Trust Corporation Refinancing, Restructuring, and Improvement Act of 1991.

(a) AMENDMENTS RELATING TO SECTION 501.—

(1) For purposes of applying paragraph (9) of section 21A(b) of the Federal Home Loan Bank Act, the amendment made by section 501(a)(1) of the Resolution Trust Corporation Refinancing, Restructuring, and Improvement Act of 1991 shall be considered to have been executed before the redesignation of subparagraph (K) of such paragraph by section 314(2)(B) of such Act and the redesignation of such paragraph by section 310 of such Act.

(2) Section 21A(c)(8)(B)(ii) of the Federal Home Loan Bank Act (12 U.S.C. 1441a(c)(8)(B)(ii)) (as added by section 501(a)(2)(B) of the Resolution Trust Corporation Refinancing, Restructuring, and Improvement Act of 1991) is amended by striking ``subchapter A´´ and inserting ``subchapter B´´.

(b) AMENDMENT TO SECTION HEADING.—

The heading for section 501 of the Resolution Trust Corporation Refinancing, Restructuring, and Improvement Act of 1991 is amended to read as follows:

``SEC. 501. CREDIT ENHANCEMENT.´´.

Sec. 1616. Technical Corrections Relating to Title VI of the Resolution Trust Corporation Refinancing, Restructuring, and Improvement Act of 1991.

(a) AMENDMENTS RELATING TO SECTION 607.—

Section 21A(c)(3)(E) of the Federal Home Loan Bank Act (12 U.S.C. 1441a(c)(3)(E)) (as amended by section 607 of the Resolution Trust Corporation Refinancing, Restructuring, and Improvement Act of 1991) is amended—

(1) in clause (i)(I), by striking ``building property structure in which the units are located: Provided, That´´ and inserting ``property in which the units are located; and´´;

(2) in clause (i)(II)—

(A) by striking ``shall be made available for occupancy´´ the 1st time such term appears;

(B) by inserting ``(including very low-income families taken into account for purposes of subclause (I))´´ after ``very low-income families´´; and

(C) by striking ``building or structure´´ and inserting ``property´´; and

(3) in clause (ii)(II)—

(A) by striking ``building property structure´´ each place such term appears and inserting ``property´´; and

(B) by inserting ``(including very low-income families taken into account for purposes of subdivision (a) of this subclause)´´ after ``very low-income families´´ where such term appears in subdivision (b) of such clause.

(b) REPEAL OF DUPLICATE PROVISION.—

Title VI of the Resolution Trust Corporation Refinancing, Restructuring, and Improvement Act of 1991 is amended by striking section 611.

Sec. 1617. Repeal of Title Consisting of Amendments Duplicated in the Federal Insurance Corporation Improvement Act of 1991.

(a) IN GENERAL.—

Title VII of the Resolution Trust Corporation Refinancing, Restructuring, and Improvement Act of 1991 is hereby repealed.

(b) EFFECT OF REPEAL.—

No amendments made by title VII of the Resolution Trust Corporation Refinancing, Restructuring, and Improvement Act of 1991 shall be deemed to have taken effect before the date of the enactment of this Act and the provisions of law amended by title VII shall continue in effect as if no such amendments had been made by such title.

Sec. 1618. Effective Date.

Except as otherwise provided by a specific provision of this subtitle, the amendments made by this subtitle to the Resolution Trust Corporation Refinancing, Restructuring, and Improvement Act of 1991 and the Federal Home Loan Bank Act shall take effect as if such amendments had been included in the Resolution Trust Corporation Refinancing, Restructuring, and Improvement Act of 1991 as of the date of the enactment of such Act.