Resolution Trust Corporation, Refinancing, Restructuring, and Improvement Act of 1991

Summary

Resolution Trust Corporation Refinancing Act of 1991 - Title I: Resolution Trust Corporation Refinancing - Amends the Federal Home Loan Bank Act to provide additional funding to the Resolution Trust Corporation (RTC) to complete the resolution of failed thrifts. Increases the RTC working capital borrowing limit. Amends the Federal Deposit Insurance Act to extend until September 30, 1993, the period during which the Office of Thrift Supervision must appoint the RTC as conservator or receiver of failed thrifts. Title II: Restructuring of the Oversight Board and the Resolution Trust Corporation - Resolution Trust Corporation Restructuring Act of 1991 - Amends the Federal Home Loan Bank Act to limit the accountability of the Oversight Board to the performance of its duties under such Act. Revises its composition, overall goals and policies, and authorizes the Board to review and require modification of such goals and policies. Provides for the management of the RTC by its Board of Directors instead of the FDIC. Revises the composition of the RTC Board of Directors. Revises RTC personnel provisions with respect to the use of FDIC employees. Provides for the appointment of a chief executive officer of the RTC by the Oversight Board. Amends the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 to provide for the rights of FDIC employees assigned to the RTC at the time of its termination. Authorizes the Oversight Board to remove the RTC Board of Directors for cause and to appoint a new Board of Directors.

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Timeline

1. 30 September 1991

   Introduced

   Introduced in House

   Source: IntroReferral

2. 30 September 1991

   Introduced

   Referred to the House Committee on Banking, Finance + Urban Affrs.

   Source: IntroReferral

3. 30 September 1991

   Introduced

   Introduced in House

   Source: IntroReferral

4. 2 October 1991

   Referred

   Referred to the Subcommittee on Financial Institutions Supervision, Regulation and Insurance.

   Source: Committee

5. 2 October 1991

   Committee

   Subcommittee Consideration and Mark-up Session Held.

   Source: Committee

6. 3 October 1991

   Committee

   Subcommittee Consideration and Mark-up Session Held.

   Source: Committee

7. 8 October 1991

   Committee

   Forwarded by Subcommittee to Full Committee (Amended).

   Source: Committee

8. 8 October 1991

   Committee

   Subcommittee Consideration and Mark-up Session Held.

   Source: Committee

9. 19 November 1991

   Committee

   Committee Consideration and Mark-up Session Held.

   Source: Committee

10. 20 November 1991

    Committee

    Committee Consideration and Mark-up Session Held.

    Source: Committee

11. 20 November 1991

    Reported

    Ordered to be Reported (Amended).

    Source: Committee

12. 22 November 1991

    Calendars

    Placed on the Union Calendar, Calendar No. 215.

    Source: Calendars

13. 22 November 1991

    Reported

    Reported (Amended) by the Committee on Banking, Finance + Urban Affrs. H. Rept. 102-358, Part I.

    Source: Committee

14. 22 November 1991

    Reported

    Reported (Amended) by the Committee on Banking, Finance + Urban Affrs. H. Rept. 102-358, Part I.

    Source: Committee

15. 22 November 1991

    Passed

    Mr. Gonzalez asked unanimous consent that the Committee on Banking, Finance + Urban Affrs have until midnight on Nov. 22 to file a report on H.R. 3435. Agreed to without objection.

    Source: Committee

16. 25 November 1991

    Committee

    Supplemental report filed by the Committee on Banking, Finance + Urban Affrs, H. Rept. 102-358, Part II.

    Source: Committee

17. 25 November 1991

    Committee

    Supplemental report filed by the Committee on Banking, Finance + Urban Affrs, H. Rept. 102-358, Part II.

    Source: Committee

18. 27 November 1991

    Floor

    Pursuant to the provisions of S. Con. Res. 84, enrollment corrections have been made.

    Source: Floor

19. 27 November 1991

    Floor

    Measure laid before Senate by unanimous consent.

    Source: Floor

20. 27 November 1991

    Vote

    Passed/agreed to in Senate: Passed Senate without amendment by Yea-Nay Vote. 44-33. Record Vote No: 280.

    Source: Floor

21. 27 November 1991

    Introduced

    Received in the Senate, read twice.

    Source: IntroReferral

22. 27 November 1991

    Passed

    Motion to reconsider laid on the table Agreed to without objection.

    Source: Floor

23. 27 November 1991

    Passed

    On passage Passed by Division vote: 112 - 63.

    Source: Floor

24. 27 November 1991

    Passed

    Passed/agreed to in House: On passage Passed by Division vote: 112 - 63.

    Source: Floor

25. 27 November 1991

    Failed

    On motion to recommit Failed by voice vote.

    Source: Floor

26. 27 November 1991

    Floor

    Mr. Solomon moved to recommit to Banking, Finance + Urban Affrs.

    Source: Floor

27. 27 November 1991

    Passed

    The House adopted the amendment in the nature of a substitute as agreed to by the Committee of the Whole House on the state of the Union.

    Source: Floor

28. 27 November 1991

    Floor

    The previous question was ordered pursuant to the rule.

    Source: Floor

29. 27 November 1991

    Floor

    The House rose from the Committee of the Whole House on the state of the Union to report H.R. 3435.

    Source: Floor

30. 27 November 1991

    Floor

    Rule provides for consideration of H.R. 3435. Previous question shall be considered as ordered without intervening motions except motion to recommit. Providing for the consideration in the Committee of the Whole House on the State of the Union. All points of order against consideration of the bill shall be waived. Immediately after dispensing with the first reading, the bill shall be considered for amendment. Measure will be read by section. Specified amendments are in order. No amendment to the bill shall be in order except one amendment in the nature of a substitute recommended by the Committee on Banking, Finance, and Urban Affairs and one amendment in the nature of a substitute printed in the report accompanying this resolution. Each amendment shall be debatable for not to exceed thirty minutes. Neither amendment shall be subject to amendment, and all points of order against the amendm...

    Source: Floor

31. 27 November 1991

    Floor

    The Speaker designated the Honorable Richard J. Durbin to act as Chairman of the Committee.

    Source: Floor

32. 27 November 1991

    Floor

    House resolved itself into the Committee of the Whole House on the state of the Union pursuant to H. Res. 320 and Rule XXIII.

    Source: Floor

33. 27 November 1991

    Floor

    Considered under the provisions of rule H. Res. 320.

    Source: Floor

34. 27 November 1991

    Passed

    Rule H. Res. 320 passed House.

    Source: Floor

35. 27 November 1991

    Reported

    Rules Committee Resolution H. Res. 320 Reported to House. Rule provides for consideration of H.R. 3435. Previous question shall be considered as ordered without intervening motions except motion to recommit. Providing for the consideration in the Committee of the Whole House on the State of the Union. All points of order against consideration of the bill shall be waived. Immediately after dispensing with the first reading, the bill shall be considered for amendment. Measure will be read by section. Specified amendments are in order. No amendment to the bill shall be in order except one amendment in the nature of a substitute recommended by the Committee on Banking, Finance, and Urban Affairs and one amendment in the nature of a substitute printed in the report accompanying this resolution. Each amendment shall be debatable for not to exceed thirty minutes. Neither amendment shall be subject to amendment, and all points of order against the amendm...

    Source: Floor

36. 2 December 1991

    Floor

    Message on Senate action sent to the House.

    Source: Floor

37. 3 December 1991

    Floor

    Presented to President.

    Source: Floor

38. 3 December 1991

    President

    Presented to President.

    Source: President

39. 3 December 1991

    Floor

    Measure Signed in Senate.

    Source: Floor

40. 12 December 1991

    Became law

    Became Public Law No: 102-233.

    Source: President

41. 12 December 1991

    Became law

    Signed by President.

    Source: BecameLaw

42. 12 December 1991

    President

    Signed by President.

    Source: President

Votes

Versions

• Engrossed in House · — · Download file
• Enrolled Bill · — · Download file
• Introduced in House · — · Download file
• Received in Senate · — · Download file
• Reported in House · — · Download file

Documents

8 official files

• Reported in House (text)

  Reported in House · EN

  ViewDownloadOpen at official source

• Received in Senate (text)

  Received in Senate · EN

  ViewDownloadOpen at official source

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• Introduced in House (text)

  Introduced in House · EN

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• Enrolled Bill (text)

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• Engrossed in House (text)

  Engrossed in House · EN

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• Public Law (PDF)

  Public Law · EN · 13 December 1991

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• Passed House amended

  summary · EN · 27 November 1991

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• Introduced in House

  summary · EN · 30 September 1991

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Sponsors

• Rep. Gonzalez, Henry B. [D-TX-20] · D · Sponsor
• Rep. Wylie, Chalmers P. [R-OH-15] · R · Sponsor
• Rep. Roukema, Marge [R-NJ-5] · R · Sponsor
• · hsba00 · Standing

Related records

• related to → Providing for the consideration of the bill (H.R. 3435) to provide funding for the resolution of failed savings associations and working capital for the Resolution Trust Corporation, to restructure the Oversight Board and the Resolution Trust Corporation, and for other purposes.
• related to ← A concurrent resolution to correct the enrollment of H.R.3435, the R.T.C. Funding Bill.
• amends ← SAMDT 1450
• amends ← Amendment in the nature of a substitute sought to authorize $20 billion in funding for the Resolution Trust Corporation (RTC); make the RTC more efficient, accountable, and flexible; improve the operation of the RTC affordable housing program; and provide flexibility in the property disposition program.
• amends ← Amendment in the nature of a substitute authorizes up to $25 billion to fund the Resolution Trust Corporation until April 1, 1992.

Related across the Repo ecosystem

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