Resolution Trust Corporation Funding Act of 1991

Summary

Resolution Trust Corporation Funding Act of 1991 - Amends the Federal Home Loan Bank Act to authorize additional funding to the Resolution Trust Corporation (RTC) to cover losses in resolving thrift institutions. Prohibits the obligation of such funds after FY 1991. Requires the Oversight Board to transmit to specified congressional committees: (1) RTC's audited financial statements within 180 days after the end of the fiscal year to which those audits apply; and (2) a detailed financial operating plan by the beginning of each calendar quarter. Outlines plan contents. Requires the Director of the Office of Thrift Supervision to deliver to the Oversight Board on a quarterly basis a list of savings associations in danger of default. States that whenever agency reports are not provided timely to the Congress, the President of the Oversight Board and the head of the responsible agency shall testify before certain congressional committees about the causes and the remedial steps taken with respect to the reporting delinquency. Amends the Federal Home Loan Bank Act and the Federal Deposit Insurance Act to provide that officials of the RTC, the Oversight Board, and the Federal Deposit Insurance Corporation are not subject to personal civil liability under the Securities Act of 1933 for asset disposition activities undertaken within the scope of their employment. Amends the Federal Home Loan Bank Act to authorize the RTC and the Oversight Board to indemnify any of their personnel (including FDIC personnel) who perform services for them.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 5 February 1991

   Reported

   Committee on Banking ordered to be reported an original measure.

   Source: Committee

2. 14 February 1991

   Calendars

   Placed on Senate Legislative Calendar under General Orders. Calendar No. 22.

   Source: Calendars

3. 14 February 1991

   Reported

   Committee on Banking. Original measure reported to Senate by Senator Riegle. With written report No. 102-13. Additional views filed.

   Source: Committee

4. 14 February 1991

   Reported

   Committee on Banking. Original measure reported to Senate by Senator Riegle. With written report No. 102-13. Additional views filed.

   Source: Committee

5. 14 February 1991

   Introduced

   Introduced in Senate

   Source: IntroReferral

6. 26 February 1991

   Floor

   Measure laid before Senate by unanimous consent.

   Source: Floor

7. 27 February 1991

   Floor

   Considered by Senate.

   Source: Floor

8. 5 March 1991

   Floor

   Considered by Senate.

   Source: Floor

9. 6 March 1991

   Floor

   Considered by Senate.

   Source: Floor

10. 7 March 1991

    Floor

    Considered by Senate.

    Source: Floor

11. 7 March 1991

    Vote

    Passed/agreed to in Senate: Passed Senate with amendments by Yea-Nay Vote. 69-30. Record Vote No: 25.

    Source: Floor

12. 12 March 1991

    Floor

    Held at the desk.

    Source: Floor

13. 12 March 1991

    Floor

    Message on Senate action sent to the House.

    Source: Floor

14. 12 March 1991

    Floor

    Received in the House.

    Source: Floor

15. 13 March 1991

    Passed

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

    Source: ResolvingDifferences

16. 13 March 1991

    Passed

    On motion that the House insist upon its amendment, and request a conference Agreed to by voice vote.

    Source: ResolvingDifferences

17. 13 March 1991

    ResolvingDifferences

    Pursuant to the provisions of H. Res. 112, the House moved to insist upon its amendment, and request a conference.

    Source: ResolvingDifferences

18. 13 March 1991

    Passed

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

    Source: Floor

19. 13 March 1991

    Vote

    On passage Passed by the Yeas and Nays: 192 - 181 (Roll no. 51).

    Source: Floor

20. 13 March 1991

    Floor

    Message on House action received in Senate and held at desk: House amendment to Senate bill.

    Source: Floor

21. 13 March 1991

    ResolvingDifferences

    The chair appointed conferees from the Committee on Banking, Finance and Urban Affairs, for consideration of the Senate bill, and the House amendment, and modifications committed to conference: Gonzalez, Oakar, Vento, Barnard, Schumer, Frank (MA), Carper, Torres, Wylie, Leach, McCollum, Roukema, and Bereuter.

    Source: ResolvingDifferences

22. 13 March 1991

    Vote

    Passed/agreed to in House: On passage Passed by the Yeas and Nays: 192 - 181 (Roll no. 51).

    Source: Floor

23. 13 March 1991

    Floor

    The previous question on the motion to strike and insert was ordered pursuant to the rule.

    Source: Floor

24. 13 March 1991

    Passed

    Rule provides for consideration of S. 419 with 1 hour of general debate. Upon adoption of this resolution it shall be in order to consider a motion offered by Rep. Gonzalez to take from the Speaker's table the bill S. 419, strike all after the enacting clause and insert in lieu thereof the provisions contained in the report accompanying this resolution. Said motion shall be debatable for not to exceed one hour, equally divided by the proponents and opponents of the motion. The previous question shall be considered as ordered on the motion to final adoption. Measure will be considered read. Bill is closed to amendments. If the motion is agreed to, the previous question shall be considered as ordered on the bill to final passage without intervening motion except one motion to recommit. Upon passage of the bill, it shall be in order to move to insist on the House amendment to S. 419 a...

    Source: Floor

25. 13 March 1991

    Vote

    On motion to recommit with instructions Agreed to by the Yeas and Nays: 213 - 197 (Roll No. 50).

    Source: Floor

26. 13 March 1991

    Floor

    Mr. Gonzalez moved to recommit with instructions to Banking, Finance + Urban Affrs.

    Source: Floor

27. 13 March 1991

    Floor

    Considered under the provisions of rule H. Res. 112.

    Source: Floor

28. 13 March 1991

    Passed

    Rule H. Res. 112 passed House.

    Source: Floor

29. 13 March 1991

    Reported

    Rules Committee Resolution H. Res. 112 Reported to House. Rule provides for consideration of S. 419 with 1 hour 0 of general debate. Upon adoption of this resolution it shall be in order to consider a motion offered by Rep. Gonzalez to take from the Speaker's table the b ill S. 419, strike all after the enacting cl ause and insert in lieu thereof the provisions contained in the report accompanying this resolution. Said motion shall be debatable for not to exc eed one hour, equally divided by the propone nts and opponents of the motion. The pre vious question shall be considered as ordered on the motion to final adoption. Measure will be considered rea d. Bill is closed to amendments. If the motion is agreed to, th e previous question shall be considered a s ordered on the bill to final passage without intervening motion except one motion to recommit. Upon passage of the bill, it shall be in orde r to move to insist on the House amendme nt to S. 419 a...

    Source: Floor

30. 14 March 1991

    Passed

    Senate agreed to request for conference. Appointed conferees. Riegle; Sarbanes; Garn.

    Source: ResolvingDifferences

31. 14 March 1991

    Passed

    Senate disagreed to the House amendment by Voice Vote.

    Source: Floor

32. 14 March 1991

    Passed

    Resolving differences -- Senate actions: Senate disagreed to the House amendment by Voice Vote.

    Source: NotUsed

33. 18 March 1991

    Floor

    Message on Senate action sent to the House.

    Source: Floor

34. 19 March 1991

    Passed

    Conference committee actions: Conferees agreed to file conference report.

    Source: ResolvingDifferences

35. 19 March 1991

    ResolvingDifferences

    Conference report H. Rept. 102-27 filed. Filed late, pursuant to previous special order.

    Source: ResolvingDifferences

36. 19 March 1991

    ResolvingDifferences

    Conference report filed: Conference report H. Rept. 102-27 filed. Filed late, pursuant to previous special order.

    Source: ResolvingDifferences

37. 19 March 1991

    Passed

    Mr. Gonzalez asked unanimous consent that managers on the part of the House have until midnight on March 19 to file a conference report on S. 419. Agreed to without objection.

    Source: Committee

38. 19 March 1991

    Passed

    Conferees agreed to file conference report.

    Source: ResolvingDifferences

39. 19 March 1991

    Passed

    Conference report agreed to in Senate: Senate agreed to conference report by Voice Vote.

    Source: ResolvingDifferences

40. 21 March 1991

    Floor

    Message on Senate action sent to the House.

    Source: Floor

41. 21 March 1991

    Floor

    Presented to President.

    Source: Floor

42. 21 March 1991

    President

    Presented to President.

    Source: President

43. 21 March 1991

    Vote

    On agreeing to the conference report Agreed to by the Yeas and Nays: 225 - 188 (Roll no. 56).

    Source: ResolvingDifferences

44. 21 March 1991

    Passed

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

    Source: ResolvingDifferences

45. 21 March 1991

    Vote

    Conference report agreed to in House: On agreeing to the conference report Agreed to by the Yeas and Nays: 225 - 188 (Roll no. 56).

    Source: ResolvingDifferences

46. 21 March 1991

    ResolvingDifferences

    The previous question was ordered without objection.

    Source: ResolvingDifferences

47. 21 March 1991

    Floor

    DEBATE - The House proceeded with one hour of debate on the conference report.

    Source: Floor

48. 21 March 1991

    Passed

    Mr. Gonzalez brought up conference report H.Rept. 102-27 by previously agreed to special order.

    Source: ResolvingDifferences

49. 23 March 1991

    Became law

    Signed by President.

    Source: BecameLaw

50. 23 March 1991

    Became law

    Became Public Law No: 102-18.

    Source: President

51. 23 March 1991

    President

    Signed by President.

    Source: President

Votes

Versions

• Engrossed Amendment House · — · Download file
• Enrolled Bill · — · Download file
• Engrossed in Senate · — · Download file
• Placed on Calendar Senate · — · Download file

Documents

9 official files

• Placed on Calendar Senate (text)

  Placed on Calendar Senate · EN

  ViewDownloadOpen at official source

• Engrossed in Senate (text)

  Engrossed in Senate · EN

  ViewDownloadOpen at official source

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• Enrolled Bill (text)

  Enrolled Bill · EN

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• Engrossed Amendment House (text)

  Engrossed Amendment House · EN

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• Public Law (PDF)

  Public Law · EN · 24 March 1991

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• Conference report filed in House

  summary · EN · 19 March 1991

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• Passed House amended

  summary · EN · 13 March 1991

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• Passed Senate amended

  summary · EN · 7 March 1991

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• Introduced in Senate

  summary · EN · 14 February 1991

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Sponsors

• Sen. Riegle, Donald W., Jr. [D-MI] · D · Sponsor
• · ssbk00 · Standing

Related records

• related to → Resolution Trust Corporation Funding Act of 1991
• related to → Providing for the consideration of the bill (S. 419) to amend the Federal Home Loan Bank Act to enable the Resolution Trust Corporation to meet its obligations to depositors and others by the least expensive means.
• amends ← To provide additional funds for the Resolution Trust Corporation, and additional funds on a dollar-for-dollar match for each dollar in cash dividends the Corporation receives from sales of assets currently in receivership.
• amends ← To study the use of tax incentives to stimulate the sale of RTC and FDIC real properties.
• amends ← To amend the Federal Deposit Insurance Act to protect tenants from unnecessary eviction by the Resolution Trust Corporation.
• amends ← Of a technical nature.
• amends ← To amend section 21A of the Federal Home Loan Bank Act.
• amends ← To amend the Federal Deposit Insurance Act, the Federal Credit Union Act, and the Crime Control Act of 1990 to strengthen prohibitions against individuals convicted of financial institution crimes, and for other purposes.
• amends ← To amend the Federal Home Loan Bank Act to restructure the Resolution Trust Corporation Oversight Board of Directors into a single governing entity.
• amends ← To decrease the amount of additional funding for the Resolution Trust Corporation, to require the President to submit certain recommendations to the Congress with any future requests, and for other purposes.

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