To provide additional funding for the Resolution Trust Corporation, and for other purposes.
Resolution Trust Corporation Funding Act - Amends the Federal Home Loan Bank Act to mandate that requests for additional funding for the Resolution Trust Corporation (RTC): (1) be submitted to specified congressional committees; and (2) contain a complete and detailed six-month financial plan for spending such resources.
Authorizes appropriations to the Secretary of the Treasury for FY 1991 to provide interim funding for the RTC and the Oversight Board.
Expresses the sense of the Congress that the RTC should not provide assistance to troubled depository institutions or pay their insured depositors any amount in excess of what they would have received if the Corporation had liquidated the institution unless the RTC determines on the basis of written documentation that such assistance or payments are more economical than liquidation of the institution.
Requires the RTC to present to specified congressional committees written corroborative documentation that its treatment of uninsured deposits as insured deposits is more economical than the cost of liquidation.
Introduced in House
Introduced in House
Referred to the House Committee on Banking, Finance + Urban Affrs.
Ordered to be Reported (Amended).
Committee Consideration and Mark-up Session Held.
Reported by the Committee on Banking, Finance + Urban Affrs. H. Rept. 101-974.
Reported by the Committee on Banking, Finance + Urban Affrs. H. Rept. 101-974.
Mr. Gonzalez asked unanimous consent to discharge the Committee of the Whole House on the State of the Union and consider.
An objection was heard to the unanimous consent request to consider the measure.
Placed on the Union Calendar, Calendar No. 567.
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