Financial Institutions Oversight Reform Act of 1990

Financial Institutions Oversight Reform Act of 1990 - Title I: Restructuring of Depository Institution Regulation - Subtitle A: Responsibilities of Department of the Treasury - Establishes within the Department of the Treasury: (1) a Deputy Secretary of the Treasury for Financial Institutions to exercise regulatory powers over insured depository institutions; (2) the Federal Deposit Insurance Corporation; (3) the Thrift Resolution Agency; and (4) the Office for Depository Institution Data Analysis which shall notify the Deputy Secretary of the Treasury for Financial Institutions of grounds for the appointment of a conservator or receiver for an insured depository institution.

Subtitle B: Reconstitution of Certain Banking Agencies - Amends the Federal Deposit Insurance Act to provide that the management of the Federal Deposit Insurance Corporation (FDIC) shall be vested in an Administrator subject to the oversight of the Secretary of the Treasury.

Amends the Federal Home Loan Bank Act to abolish the Oversight Board.

Establishes the Thrift Resolution Agency (TRA) in the Department of the Treasury as successor to the Resolution Trust Corporation.

Abolishes the FSLIC Resolution Fund and directs the FDIC to transfer the Fund's assets and liabilities to the TRA. Extends from three to five years the period during which the TRA shall serve as conservator or receiver of insolvent depository institutions. Sets forth conditions under which the TRA may be terminated following case resolutions. Outlines the Administrator's responsibilities with respect to the TRA.

Subtitle C: Office of Thrift Supervision Abolished and Functions Transferred - Abolishes the Office of Thrift Supervision (OTS) and the position of its Director.

Vests responsibility for regulating Federal savings associations and savings and loan associations in the Comptroller of the Currency. Vests responsibility for regulating State Savings associations in the FDIC Administrator. Requires both officers to report annually to the Congress.

Subtitle D: Transfer of Personnel and Property - Sets forth transition guidelines relating to the dissolution of the OTS. Sets forth guidelines for the transfer of OTS employees (including retention of employee rights) to either the Comptroller of the Currency or the Administrator of the FDIC.

Subtitle E: Pay and Compensation - Amends Federal law to set forth compensation guidelines for the officers created by this Act.

Title II: Restructuring of Financing for Thrift Resolutions - Amends the Federal Home Loan Bank Act to abolish the Financing Corporation and the Resolution Funding Corporation. Establishes the Thrift Resolution Account in the Treasury to meet the expenses of the Thrift Resolution Agency. Authorizes appropriations for such Account. Sets forth guidelines under which: (1) the TRA shall be funded by Federal home loan bank contributions; and (2) the obligations issued by the Financing Corporation and the Resolution Funding Corporation shall be funded by assessments on Savings Association Insurance Fund members.

Establishes in the Treasury an administrative expense account for the benefit of the TRA. Provides that the receipts and disbursements of the TRA from specified segregated accounts shall be included in the Federal budget.

Provides that outlays attributable to the TRA Account and any segregated account maintained by the TRA shall be excluded from Federal budget deficit calculations. Exempts certain TRA accounts from any sequestration order issued under the Balanced Budget and Emergency Deficit Control Act of 1985 (Gramm-Rudman-Hollings Act).

Declares that the TRA has no general borrowing authority except in accordance with certain provisions of the Federal Deposit Insurance Act.

Designates the TRA as the successor agency to the Financing Corporation and the Resolution Funding Corporation. Sets forth transition guidelines.

Title III: Additional Banking Law Provision - Amends the Federal Deposit Insurance Act to mandate that Federal banking agencies jointly develop regulations for uniform market value accounting principles to be used in financial statements submitted by insured depository institutions. Requires such agencies to consult with the Financial Accounting Standards Board when prescribing such regulations.