Revitalization of Depository Institution Liquidation Procedures Act of 1993

TABLE OF CONTENTS:

Title I: Single Agency for Conservator and Receivership Powers

Title II: Funding Issues

Title III: Reports

Title IV: Regulatory Measures

Title V: Court-Ordered Restitution in Cases of Financial

Institution Fraud and Private Actions

Revitalization of Depository Institution Liquidation Procedures Act of 1993 - Title I: Single Agency for Conservator and Receivership Powers - (Sec. 101) Amends the Federal Home Loan Bank Act (FHLBA) to establish the Resolution, Asset Management, and Liquidation Agency (the Agency), under the direction of the Secretary of the Treasury. Makes it the duty of the Administrator of the Agency to manage and resolve all insured depository institutions for which the Administrator has been appointed conservator or receiver.

Requires the Administrator to establish a Real Estate Asset Division to: (1) assist in the disposition of real property assets of institutions in conservatorship or receivership; and (2) publish an inventory of real property assets of institutions within the Administrator's jurisdiction (identifying those with natural, cultural, recreational, or scientific values of special significance). Requires the Administrator to have an annual goal that presents the maximum opportunity for small business concerns and those controlled and owned by socially and economically disadvantaged individuals to participate in the contracts awards process.

(Sec. 102) Delineates the Administrator's conservatorship and receivership powers.

Amends the Federal Deposit Insurance Act (FDIA) to direct the Federal Deposit Insurance Corporation (FDIC) to transfer to the Agency those amounts requested by the Administrator to resolve insured deposits at closed depository institutions.

Mandates that payments made on behalf of a closed depository institution may only be drawn from the Insurance Fund of which that institution is a member.

Transfers all FDIC conservatorship or receivership functions to the Agency.

(Secs. 103 and 104) Abolishes: (1) the Thrift Depositor Protection Oversight Board; and (2) the Resolution Trust Corporation (RTC). Transfers to the Agency: (1) the functions of the RTC; (2) the assets and liabilities of the Oversight Board; (3) FDIC employees assigned to the RTC; and (4) employees of the Thrift Depositor Protection Oversight Board. States that unexpended RTC funds are available for deposit by the FDIC into the Savings Association Insurance Fund.

(Sec. 105) Prohibits the assets and liabilities of the Federal Savings and Loan Insurance Corporation Resolution Fund (FSLIC) from being consolidated with those of the Administrator. Transfers management of such Fund to the Administrator. Declares the Administrator the successor to the FSLIC's conservatorship or receivership functions.

Title II: Funding Issues - (Sec. 201) Amends the FHLBA to reduce the maximum amount which the Administrator may borrow as successor to the RTC. Restricts the Administrator's borrowing authority to either the Treasury or the Federal Financing Bank.

Title III: Reports - (Secs. 301 through 303) Lists specified reports to be submitted by the Administrator to certain congressional committees, including: (1) a study of private sector contracting; and (2) a nationwide uniform automated recordkeeping system.

Title IV: Regulatory Measures - (Sec. 401) Amends the FDIC to eliminate regulatory agency discretion as to whether to place a critically undercapitalized insured depository institution under either conservatorship or receivership. Makes such action mandatory.

(Sec. 402) Sets forth guidelines under which banking regulatory agencies must make available to the public the examination reports of each failed depository institution that received Federal banking regulatory agency funds during the five-year period preceding its failure.

(Secs. 403 and 407) Mandates disclosure to the public of: (1) any agreement or settlement of claims between the Agency or the FDIC relating to a failed depository institution; (2) the loan balance of certain borrowers connected to the failed institution; and (3) the status of related pending litigation.

Title V: Court-Ordered Restitution in Cases of Financial Institution Fraud and Private Actions - (Sec. 501) Amends the FDIA to prescribe guidelines for enforcement of court-ordered restitution for banking law violations, including: (1) prejudgment attachment of the proceeds of such violations; (2) restitution due in full as of the date of the restitution order; (3) restitution orders enforceable until paid; (4) enforcement of a restitution order as a lien against the defendant's property; (5) a proscription against the court taking into account the defendant's ability to pay when determining the amount of restitution; and (6) notice to unpaid restitution recipients that the end of the defendant's period of supervised release is approaching.

(Sec. 502) Prescribes procedural guidelines for private actions to collect court-ordered restitution for banking law violations.