Depository Institutions Regulatory Improvements Act of 1993

TABLE OF CONTENTS:

Title I: Regulatory Improvements

Subtitle A: Reduction of Regulatory Burdens

Subtitle B: Studies and Reports

Title II: Enhanced Credit Availability and Deposit Insurance

Protection

Title III: Technical and Conforming Amendments

Depository Institutions Regulatory Improvements Act of 1993 - Title I: Regulatory Improvements - Subtitle A: Reduction of Regulatory Burdens - Amends the Federal Deposit Insurance Act (FDIA) to direct Federal banking regulatory authorities, when prescribing regulations, to consider and minimize their impact upon the availability of credit for businesses and upon low- and moderate-income communities.

Amends the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 to direct the Appraisal Subcommittee to encourage the States to develop reciprocity agreements allowing certified appraisers to perform appraisals in sister States.

Amends the FDIA to permit: (1) annual State examinations of insured depository institutions in lieu of Federal examinations; (2) biennial examinations for certain small-sized depository institutions in good standing; and (3) the exemption of insured depository institutions controlled by certain depository institution holding companies from the Act's examination requirements. Authorizes coordinated Federal and State examinations.

Directs the Federal Financial Institutions Examination Council (FFIEC) to review the regulatory burden incurred by insured depository institutions and credit unions in preparing mandated condition reports.

Amends Federal banking law to repeal certain publication requirements for national banks, State non-member insured banks, and Federal Reserve banks. Requires the appropriate Federal regulatory agency to consider the administrative burdens placed upon depository institutions when determining the effective date for regulations changing the form of condition reports.

Excludes from the purview of the FDIA certain depository institution branches and automated teller machines. Amends Federal law to modify the recordkeeping requirements for monetary instruments transactions.

Amends the Real Estate Settlement Procedures Act to repeal certain disclosure requirements with respect to federally related home equity mortgage loans that are statutorily mandated elsewhere. Amends the Electronic Fund Transfer Act to increase consumer liability for unauthorized electronic funds transfers where the cardholder has substantially contributed to such use.

Amends the Housing and Urban Development Act of 1968 to modify its homeownership debt counseling notification requirements.

Amends the Real Estate Settlement Procedures Act of 1974 to: (1) modify the disclosure requirements for federally related mortgage loans; and (2) exempt from its purview specified credit extension transactions.

Subtitle B: Studies and Reports - Requires the Secretary of the Treasury to report to certain congressional committees on the impact of risk-based capital standards upon domestic institutions and credit availability.

Requires reports to the Congress by: (1) the Board of Governors of the Federal Reserve System (the Board) on certain sterile reserves associated with depository institutions; and (2) the Office of Management and Budget and the Congressional Budget Office on the budgetary impact of interest payments associated with such reserves.

Requires Federal banking regulatory agencies to review and eliminate regulations requiring insured depository institutions to produce unnecessary internal written policies.

Directs FFIEC to reduce, where appropriate, the burdensome effect upon community banks of compliance requirements associated with risk-based capital rules.

Requires the Board to study and report to the Congress on ways to streamline the credit-granting process.

Title II: Enhanced Credit Availability and Deposit Insurance Protection - Amends the Comprehensive Environmental Response, Compensation, and Liability Act of 1980 to limit lender liability for the release of petroleum or a hazardous substance associated with property acquired in the ordinary course of business. Shields Federal banking and lending agencies from strict liability for the release of petroleum or a hazardous substance associated with property acquired in the ordinary course of business.

Title III: Technical and Conforming Amendments - Makes technical and conforming amendments to specified Federal law.