to the Republic of Lithuania; which was referred to the Committee on Foreign Affairs.

SATURDAY, NOVEMBER 23, 1991

(150)

The House was called to order by the SPEAKER.

1150.1

APPROVAL OF THE JOURNAL

The SPEAKER announced he had examined and approved the Journal of the proceedings of Friday, November 22, 1991.

Pursuant to clause 1, rule I, the Journal was approved.

1150.2 COMMUNICATIONS

Executive and other communications, pursuant to clause 2, rule XXIV, were referred as follows:

2406. A letter from the Secretary of Health and Human Services, transmitting a report entitled "Rural Health Care Transition Grant Program," pursuant to 42 U.S.C. 1395ww note; to the Committee on Energy and Commerce.

2407. A letter from the Assistant Secretary for Legislative Affairs, Department of State, transmitting the 25th 90-day report on the investigation into the death of Enrique Camarena, the investigations of the disappearance of United States citizens in the State of Jalisco, Mexico, and the general safety of United States tourists in Mexico, pursuant to Public Law 99-93, section 134(c) (99 Stat. 421); to the Committee on Foreign Affairs.

2408. A letter from the Chairman, Federal Maritime Commission, transmitting the semiannual report of activities of the Inspector General covering the period April 1, 1991 through September 30, 1991, pursuant to Public Law 95-452, section 5(b) (102 Stat. 2526); to the Committee on Government Operations. 1150.3 MESSAGE FROM THE SENATE

A message from the Senate by Mr. Hallen, one of its clerks, announced that the Senate had passed without amendment bills and a concurrent resolution of the House of the following titles:

H.R. 3728. An Act to provide for a 6-month extension of the Commission on the Bicentennial of the Constitution;

H.R. 3839. An Act making appropriations for the Departments of Labor, Health and Human Services, and Education, and related agencies, for the fiscal year ending September 30, 1992, and for other purposes; and

H. Con. Res. 216. Concurrent resolution concerning the use of forced labor in Chinese prisons.

The message also announced that the Senate had passed with amendments in which the concurrence of the House is requested, bills and a joint resolution of the House of the following titles:

H.R. 848. An Act to establish the Little Bighorn National Monument;

H.R. 1776. An Act to authorize for fiscal year 1992 the U.S. Coast Guard Budget; and H.J. Res. 157. Joint resolution making technical corrections and correcting enrollment errors in certain acts making appropriations for the fiscal year ending September 30, 1991, and for other purposes.

The message also announced that the Senate insisted upon its amendments to the resolution (H.J. Res. 157) "Joint resolution making technical corrections and correcting enrollment errors

in certain acts making appropriations for the fiscal year ending September 30, 1991, and for other purposes", requested a conference with the House on the disagreeing votes of the two Houses thereon, and appointed Mr. BYRD, Mr. INOUYE, Mr. HOLLINGS, Mr. JOHNSTON, Mr. BURDICK, Mr. LEAHY, Mr. SASSER, Mr. DECONCINI, Mr. BUMPERS, Mr. LAUTENBERG, Mr. HARKIN, MS. MIKULSKI, Mr. REID, Mr. ADAMS, Mr. FOWLER, Mr. KERREY, Mr. HATFIELD, Mr. STEVENS. Mr. GARN, Mr. COCHRAN, Mr. KASTEN, Mr. D'AMATO, Mr. RUDMAN, Mr. SPECTER, Mr. DOMENICI, Mr. NICKLES, Mr. GRAMM, Mr. BOND, and Mr. GORTON, to be the conferees on the part of the Senate.

The message also announced that the Senate had passed bills, a joint resolution, and a concurrent resolution of the following titles, in which the concurrence of the House is requested:

S. 543. An Act to reform Federal deposit insurance, protect the deposit insurance funds, recapitalize the bank insurance fund, improve supervision and regulation of insured depository institutions, and for other purposes;

S. 1176. An Act to establish the Morris K. Udall Scholarship and Excellence in National Environmental Policy Foundation, and for other purposes;

S. J. Res. 198. Joint resolution to recognize contributions Federal civilian employees provided during the attack on Pearl Harbor and during World War II; and

S. Con. Res. 77. Concurrent resolution condemning the massacre of East Timorese civilians by the Indonesia military.

The message also announced that the Senate agreed to the report of the committee of conference on the disagreeing votes of the two Houses on the amendments of the Senate to the bill (H.R. 2100) "An Act to authorize appropriations for fiscal years 1992 and 1993 for military activities of the Department of Defense, for military construction, and for defense activities of the Department of Energy, to prescribe personnel strengths for such fiscal year for the Armed Forces, and for other purposes.'

The message also announced that the Senate agreed to the amendment of the House to the amendment of the Senate to the bill (H.R. 1988) "An Act to authorize appropriations to the National Aeronautics and Space Administration for research and development, space flight, control, and data communications, construction of facilities, research and program management, and Inspector General, and for other purposes."

The message also announced that the Senate agreed to the amendments of the House of Representatives to the bill (S. 272) "An Act to provide for a coordinated Federal program to ensure continued United States leadership in high-performance computing, and for other purposes."

The message also announced that the Senate agreed to the amendments of the House of Representatives to the bill (S. 1284) "An Act to make certain technical corrections in the Judicial Improvements Act of 1990."

1150.4 WAIVING OF CERTAIN

REQUIREMENTS OF RULES THROUGH
NOVEMBER 27, 1991

Mr. DERRICK, by direction of the Committee on Rules, called up the following resolution (H. Res. 294):

Resolved, That the requirement of clause 4(b), rule XI for a two-thirds vote to consider a report from the Committee on Rules on the same day it is presented to the House is hereby waived with respect to any resolution reported from that committee on or before the calendar day of November 27, 1991, to provide for the consideration or disposition of any bill, amendment thereto, or conference report thereon, on the following measures:

(A) a bill to develop a national intermodal surface transportation system, to authorize funds for the construction of highways, for highway safety programs, and for mass transit programs, and for other purposes;

(B) a bill to require the least-cost resolution of insured depository institutions, to improve supervision and examinations, to provide additional resources to the Bank Insurance Fund, and for other purposes;

(C) a bill to control and prevent crime; (D) a bill to provide for the termination of the application of title IV of the Trade Act of 1974 to Czechoslovakia and Hungary;

(E) a joint resolution making technical corrections and correcting enrollment errors in certain acts making appropriations for the fiscal year ending September 30, 1991, and for other purposes;

(F) a bill to delay until September 30, 1992, the issuance of any regulations by the Secretary of Health and Human Services changing the treatment of voluntary contributions and provider-specific taxes by states as a source of a State's expenditures for which Federal financial participation is available under the Medicaid program and to maintain the treatment of intergovernmental transfers as such a source; and

(G) a bill to provide funding for the Resolution Trust Corporation, and for other purposes.

SEC. 2. The Speaker is authorized through the calendar day of November 27, 1991 to declare recesses at any time, subject to the call of the Chair.

SEC. 3. The Speaker is authorized to entertain motions to suspend the rules through the calendar day of November 27, 1991, subject to the requirement of an announcement on the floor of the House by the Speaker or his designee at least one hour before the consideration of any motion to suspend the rules.

When said resolution was considered.
After debate,

On motion of Mr. DERRICK, the previous question was ordered on the resolution to its adoption or rejection.

The question being put, viva voce, Will the House agree to said resolution?

The SPEAKER pro tempore, Mr. MURTHA, announced that the yeas had it.

Mr. GUNDERSON demanded that the vote be taken by the yeas and nays, which demand was supported by onefifth of the Members present, so the yeas and nays were ordered.

The vote was taken by electronic device.

Roukema

Schumer Sensenbrenner Sharp

Shaw

Smith (FL) Smith (IA) Stokes Sundquist Swett

Tallon Taylor (NC) Torricelli Towns

Upton Waxman

So the resolution was agreed to.

A motion to reconsider the vote whereby said resolution was agreed to was, by unanimous consent, laid on the table.

1150.6 U.S. FLAG CRUISE SHIP

COMPETITIVENESS

Mr. JONES of North Carolina moved to suspend the rules and pass the bill (H.R. 3282) to provide for the equity of revenue availability on American and foreign cruise vessels, the regulations of gaming on vessels, penalties for gambling violations, and for other purposes; as amended.

The SPEAKER pro tempore, Mr. MCDERMOTT, recognized Mr. JONES of North Carolina and Mr. LENT, each for 20 minutes. After debate,

1150.7 POINT OF ORDER

Mr. AUCOIN made a point of order, and said:

"I make a point of order, Mr. Speaker, and I call for regular order. I understand the regular order to be the bill which is being managed by the gentleman from North Carolina [Mr.

JONES].".
The SPEAKER pro tempore, Mr.
MCDERMOTT, sustained the point of
order, and said:

"The bill under consideration is the U.S. Flag Cruise Ship Competitiveness

Act of 1991, matters related to the issues of development of a cruise ship industry.

"The gentleman from Oregon [Mr. AUCOIN] is correct. The debate should relate to the issue before the body.". After further debate,

The question being put, viva voce, Will the House suspend the rules and pass said bill, as amended?

The SPEAKER pro tempore, Mr. MCDERMOTT, announced that thirds of the Members present had voted in the affirmative.

So, two-thirds of the Members present having voted in favor thereof. the rules were suspended and said bill, as amended, was passed.

By unanimous consent, the title was amended so as to read: "A bill to amend the Act commonly referred to as the Johnson Act, to give the same treatment to the repair, transportation, possession, or use of gambling devices on certain United States-flag vessels as is given to that activity on foreign-flag vessels.".

A motion to reconsider the votes whereby the rules were suspended and said bill, as amended, was passed and the title was amended was, by unanimous consent, laid on the table.

Ordered, That the Clerk request the concurrence of the Senate in said bill. ¶150.8 ALASKA MARITIME ACT TECHNICAL AMENDMENTS

Mr. JONES of North Carolina moved to suspend the rules and pass the bill (H.R. 3638) making technical amendments to the law which authorizes modification of the boundaries of the Alaska Maritime National Wildlife Refuge.

The SPEAKER pro tempore, Mr. MCDERMOTT, recognized Mr. JONES of North Carolina and Mr. YOUNG of Alaska, each for 20 minutes.

After debate,

The question being put, viva voce, Will the House suspend the rules and pass said bill?

The SPEAKER pro tempore, Mr. MCDERMOTT, announced that twothirds of the Members present had voted in the affirmative.

Mr. GUNDERSON demanded that the vote be taken by the yeas and nays, which demand was supported by onefifth of the Members present, so the yeas and nays were ordered.

The SPEAKER pro tempore, Mr. MCDERMOTT, pursuant to clause 5, rule I, announced that further proceedings on the motion were postponed until Monday, November 25, 1991, pursuant to the prior announcement of the Chair.

1150.9 FLOWER GARDEN BANKS NATIONAL MARINE SANCTUARY

Mr. JONES of North Carolina moved to suspend the rules and pass the bill (H.R. 3866) to provide for the designation of the Flower Garden Banks National Marine Sanctuary.

The SPEAKER pro tempore, Mr. MCDERMOTT, recognized Mr. JONES of North Carolina and Mr. YOUNG of Alaska, each for 20 minutes.

After debate,

The question being put, viva voce, Will the House suspend the rules and pass said bill?

The SPEAKER pro tempore, Mr. MCDERMOTT, announced that twothirds of the Members present had voted in the affirmative.

So, two-thirds of the Members present having voted in favor thereof, the rules were suspended and said bill was passed.

A motion to reconsider the vote whereby the rules were suspended and said bill was passed was, by unanimous consent, laid on the table.

Ordered, That the Clerk request the concurrence of the Senate in said bill. 1150.10 FEDERAL DEBT MANAGEMENT

RESPONSIBILITY

Mr. PICKLE moved to suspend the rules and pass the bill (H.R. 3365) to amend title 31, United States Code, to restrict the authority of newly established Government-related corporations to borrow from the Treasury and to require an annual evaluation of the impact of public borrowing by such corporations on the public debt; as amended.

The SPEAKER pro tempore, Mr. MCDERMOTT, recognized Mr. PICKLE and Mr. GRADISON, each for 20 minutes.

After debate,

The question being put, viva voce, Will the House suspend the rules and pass said bill, as amended?

The SPEAKER pro tempore, Mr. MCDERMOTT, announced that twothirds of the Members present had voted in the affirmative.

So, two-thirds of the Members present having voted in favor thereof, the rules were suspended and said bill, as amended, was passed.

A motion to reconsider the vote whereby the rules were suspended and said bill, as amended, was passed was, by unanimous consent, laid on the table.

Ordered, That the Clerk request the concurrence of the Senate in said bill. 1150.11 CONFERENCE ON S. 543

Mr. FROST, by direction of the Committee on Rules, reported (Rept. No. 102-362) the resolution (H. Res. 298) to expedite a conference with the Senate on a banking bill.

When said resolution and report were referred to the House Calendar and ordered printed.

1150.12 CONFERENCE ON S. 543

Mr. FROST, by direction of the Committee on Rules and pursuant to House Resolution 294, called up the following resolution (H. Res. 298):

Resolved, That upon adoption of this resolution the House shall be considered to have taken the bill S. 543 from the Speaker's table and to have amended the Senate bill by striking out all after the enacting clause and inserting in lieu thereof the provisions of H.R. 3768 as passed by the House. The previous question shall be considered as ordered on the bill and amendment thereto to final passage without intervening motion except

one motion to commit. After passage of the Senate bill, the House shall then be considered to have insisted on its amendment to S. 543 and to have requested a conference with the Senate thereon. The motion to instruct conferees otherwise in order at that point shall instead be in order only if offered by the Minority Leader or his designee on the legislative day of Monday, November 25, 1991. The Speaker is authorized to appoint conferees and to make additional appointments of conferees.

When said resolution was considered. After debate,

On motion of Mr. FROST, the previous question was ordered on the resolution to its adoption or rejection.

The question being put, viva voce, Will the House agree to said resolution?

yeas had it.

Mr. WALKER objected to the vote on the ground that a quorum was not present and not voting.

A quorum not being present,

Rohrabacher

Santorum

Kyl

Lagomarsino

Saxton Shuster

Lent

Smith (OR)

Lewis (CA)

Smith (TX)

Lightfoot

Snowe

Livingston

Spence

The roll was called under clause 4, rule XV, and the call was taken by electronic device.

When there appeared

Anderson Andrews (ME) Andrews (NJ)

Anthony

AuCoin

Brown Bruce Bryant

Byron

Markey

Michel

Green Guarini Hall (OH) Hall (TX) Hamilton

Mink

Hatcher

Hayes (IL)

Moakley

Doolittle

Paxon

ANSWERED "PRESENT”—1

NOT VOTING-127

Mollohan

Montgomery

Coleman (MO)

Collins (IL)

Coble

Hayes (LA)

Bustamante

Hefner Hertel

Moody Moran

Morella

Costello

Neal (NC)

Coyne

Crane Cunningham

Hughes

Obey

Carr

Condit Conyers

Cox (IL) Cramer

Jones (GA) Jones (NC) Jontz Kanjorski Kaptur Kennelly Kildee

Orton

Owens (UT)

Pallone

Panetta

Parker

Pastor

de la Garza

DeFazio

Dellums

Dickinson

Dornan (CA)

McMillen (MD) Mfume

Torricelli

Towns

Morrison

Dixon

Donnelly

Duncan

Edwards (CA)

Darden

DeLauro Derrick Dicks Dingell Dooley Dorgan (ND) Downey Dreier

Dwyer

Patterson Payne (NJ)

Early

Durbin Dymally Eckart Emerson Engel

LaRocco

Lehman (FL) Levin (MI)

Peterson (MN)

Pickle
Poshard
Rahall

Fish

Gallegly

Mrazek

Murphy

Myers

Unsoeld

Upton

Washington Waxman Williams

Neal (MA)

Oakar

Olver

Wise

Gaydos

So the resolution was agreed to.

A motion to reconsider the vote whereby said resolution was agreed to was, by unanimous consent, laid on the table.

1150.14 FDIC REFORM

The SPEAKER pro tempore, Mr. MCDERMOTT, announced that pursuant to House Resolution 294, the bill of the Senate (S. 543) to reform Federal deposit insurance, protect the deposit insurance funds, recapitalize the Bank Insurance Fund, improve supervision and regulation of insured depository institutions, and for other purposes, was taken from the Speaker's table and amended as follows:

Strike out all after the enacting clause and insert:

(a) SHORT TITLE.-This Act may be cited as the "Federal Deposit Insurance Corporation Improvement Act of 1991".

(b) TABLE OF CONTENTS.—

Sec. 1. Short title; table of contents.

TITLE I-SAFETY AND SOUNDNESS Subtitle A-Deposit Insurance Funds Sec. 101. Funding for the federal deposit insurance funds.

Sec. 102. Limitation on outstanding borrowing.

Sec. 103. Repayment schedule.

Sec. 104. Borrowing for BIF from BIF mem

bers.

Subtitle B-Supervisory Reforms Sec. 111. Improved examinations. Sec. 112. Independent annual audits of insured depository institutions. to cover

Sec. 113. Assessments required costs of examinations. Sec. 114. Application to FDIC required for insurance.

Sec. 115. Regulatory requirements study.

Subtitle C-Accounting Reforms Sec. 121. Accounting objectives, standards, and requirements.

Sec. 122. Small business loan data required in reports of condition.

Sec. 123. Reports of financial condition by large institutions engaged in interstate banking.

Subtitle D-Prompt Regulatory Action Sec. 131. Prompt regulatory action. Sec. 132. Appointment of conservator or receiver for insured state depository institutions.

Subtitle E-Least-Cost Resolution Sec. 141. Least-cost resolution. Sec. 142. Limitation on use of liquidity lending for deposit insurance fund purposes.

Sec. 143. No assistance to troubled institution without removing management and repudiating shareholders claims.

Subtitle F-Federal Insurance for State
Chartered Depository Institutions

Sec. 151. Short title.
Sec. 152. Federal deposit insurance required
for state chartered banks, sav-
ings associations, and credit
unions.

Subtitle G-Technical Corrections Sec. 161. Technical corrections and clarifications.

TITLE II-REGULATORY IMPROVEMENT
Subtitle A-Regulation of Foreign Banks
Sec. 201. Short title.

Sec. 202. Regulation of foreign
bank operations.

Sec. 203. Conduct and coordination of examinations.

Sec. 204. Supervision of the representative offices of foreign banks. Sec. 205. Reporting of stock loans. Sec. 206. Cooperation with foreign supervisors.

Sec. 207. Approval required for acquisition by foreign banks of shares of United States banks.

Sec. 208. Penalties. Sec. 209. Powers of agencies respecting applications, examinations, and other proceedings.

Sec. 210. Clarification of managerial standards in bank holding company act of 1956.

Subtitle B-Customer and Consumer
Provisions

Sec. 221. Paperwork reduction and improvements in administration of Community Reinvestment Act of 1977.

Sec. 222. Additional factor in assessing mainstitution's

jority-owned

record of meeting community credit needs.

Sec. 223. Enforcement of Equal Credit Opportunity Act.

Sec. 224. Fair housing reporting. Sec. 225. Regulatory burden study. Sec. 226. Notice of safeguard exception. Sec. 227. Prohibition on deceptive practices relating to electronic fund transfers from accounts.

Sec. 228. Deposits at nonproprietary automated teller machines. Sec. 229. Notice of branch closure.

Subtitle C-Bank Enterprise Act Sec. 231. Short title.

Sec. 232. Reduced assessment rate for deposits attributable to lifeline accounts.

Sec. 233. Assessment credits for qualifying activities relating to distressed communities.

Sec. 234. Community development organizations.

TITLE III—FEDERAL DEPOSIT
INSURANCE REFORM

Subtitle A-Activities

Sec. 301. Limitations on brokered deposits and deposit solicitations.

Sec. 302. Risk-based assessments. Sec. 303. Restrictions on insured state bank activities.

Sec. 304. Restrictions on real estate lending. Sec. 305. Capital standards and interest rate risk.

Sec. 306. Transition rule.

Sec. 307. FDIC back-up enforcement authority.

Subtitle B-Coverage Sec. 311. Deposit and pass-through insur

ance.

Sec. 312. Foreign deposits.

Sec. 313. Penalty for false assessment re

ports.

Subtitle C-Demonstration Project and
Studies

Sec. 321. Feasibility study on authorizing insured and uninsured deposit ac

counts.

Sec. 322. Private reinsurance study.
Subtitle D-Credit Unions
Sec. 331. Liquidations of federally insured.
state credit unions.

Subtitle E-FDIC Property Disposition Sec. 341. FDIC affordable housing program. TITLE IV-MISCELLANEOUS PROVISIONS Subtitle A-Payment System Risk Reduction

Sec. 401. Findings and purpose.
Sec. 402. Definitions.

Sec. 403. Bilateral netting.
Sec. 404. Clearing organization netting.

Sec. 421. Final settlement payment procedure.

Subtitle D-Miscellaneous Committees,
Studies, and Reports

Sec. 431. Commission on the Thrift Industry.
Sec. 432. Bank Insurance Fund Advisory
Committee.

Sec. 433. Amendments relating to Federal Reserve Board reserve requirements.

Sec. 434. Depository Institutions Reform Advisory Committee.

Sec. 435. Report on government check cashing.

Sec. 436. Permanent authorization of Credit Standards Board.

Subtitle E-Utilization of Private Sector Sec. 441. Utilization of private sector. Sec. 442. Reporting.

Sec. 443. Requirement

minimize payments for legal services. Subtitle F-Emergency Assistance for Rhode

Island

Sec. 451. Emergency loan guarantee.

Subtitle G-Qualified Thrift Lender Test

Improvements

Sec. 461. Short title.

Sec. 462. Adjustment of compliance periods for purposes of qualified thrift lender test.

Sec. 463. Increase in amount of liquid assets excludable from portfolio assets.

Sec. 464. Additional investments included in definition of qualified thrift assets.

Sec. 465. Prudent diversification of assets. Sec. 466. Consumer lending by Federal savings associations. Subtitle H-Prohibition on Entering Secrecy Agreements and Protective Orders Sec. 471. Prohibition on entering into secrecy agreements and protective orders.

Subtitle I-Establishment of Capital

Standard Requirement

Sec. 481. Capital standards.

Subtitle J-Bank and Thrift Employee

Provisions

Sec. 491. Continuation of health plan coverage in cases of failed financial institutions.

Subtitle K-Severability

Sec. 496. Severability.

Subtitle L-Sense of the House of
Representatives on the Credit Crisis

Sec. 498. Credit crunch.

TITLE V-DEPOSITORY INSTITUTION CONVERSIONS

Sec. 501. Mergers and acquisitions of insured depository institutions during conversion moratorium.

Sec. 502. Mergers, consolidations, and other acquisitions authorized. Sec. 503. Acquisition of thrift institutions by certain companies which control banks and are not treated as holding companies. TITLE I-SAFETY AND SOUNDNESS Subtitle A-Deposit Insurance Funds SEC. 101. FUNDING FOR THE FEDERAL DEPOSIT INSURANCE FUNDS.

Section 14(a) of the Federal Deposit Insurance Act (12 U.S.C. 1824(a)) is amended by

striking "$5,000,000,000" and inserting "$30,000,000,000".

SEC. 102. LIMITATION ON OUTSTANDING BORROWING.

(a) IN GENERAL.-Section 15(c) of the Federal Deposit Insurance Act (12 U.S.C. 1825(c)) is amended by striking paragraphs (5) and (6) and inserting the following new paragraphs: "(5) MAXIMUM AMOUNT LIMITATION ON OUTSTANDING OBLIGATIONS.-Notwithstanding any other provisions of this Act, the aggregate amount of obligations of the Bank Insurance Fund or Savings Association Insurance Fund, respectively, outstanding at any time may not exceed the sum of—

"(A) the amount of cash or the equivalent of cash held by the Bank Insurance Fund or Savings Association Insurance Fund, respectively;

"(B) the amount which is equal to 90 percent of the Corporation's estimate of the fair market value of assets held by the Bank Insurance Fund or the Savings Association Insurance Fund, respectively, other than assets described in subparagraph (A); and

"(C) the total of the amounts authorized to be borrowed from the Secretary of the Treasury pursuant to section 14(a).

"(6) OBLIGATION DEFINED.-For purposes of paragraph (5), the term 'obligation' includes

"(A) any guarantee issued by the Corporation;

"(B) any amount borrowed pursuant to section 14; and

"(C) any other obligation for which the Corporation has a direct or contingent liability to pay any amount.".

(b) GAO REPORTS.

(1) QUARTERLY REPORTING.-The Comptroller General of the United States shall submit a report each calendar quarter on the Federal Deposit Insurance Corporation's compliance with section 15(c)(5) of the Federal Deposit Insurance Act for the preceding quarter to the Committee on Banking, Finance and Urban Affairs of the House of Representatives and the Committee on Banking, Housing, and Urban Affairs of the Senate.

(2) ANALYSES TO BE INCLUDED.--Each report submitted under paragraph (1) shall include

(A) an analysis of the performance of the Federal Deposit Insurance Corporation in meeting any repayment schedule under section 14(c) of the Federal Deposit Insurance Act (as added by section 103 of this Act); and (B) an analysis of the actual recovery on asset sales compared to the estimated fair market value of the assets as determined for the purposes of section 15(c)(5)(B) of such Act.

(c) TECHNICAL AND CONFORMING AMENDMENT.-Section 15(c) of the Federal Deposit Insurance Act (12 U.S.C. 1825(c)) is amended by striking paragraph (7).

SEC. 103. REPAYMENT SCHEDULE.

(a) IN GENERAL.-Section 14 of the Federal Deposit Insurance Act (12 U.S.C. 1824) is amended by adding at the end the following new subsection:

"(c) REPAYMENT SCHEDULES REQUIRED FOR ANY BORROWING.—

"(1) IN GENERAL.-No amount may be provided by the Secretary of the Treasury to the Corporation under subsection (a) unless an agreement is in effect between the Secretary and the Corporation which

"(A) provides a schedule for the repayment of the outstanding amount of any borrowing under such subsection; and

"(B) demonstrates that income to the Corporation from assessments under this Act will be sufficient to amortize the outstanding balance within the period established in the repayment schedule and pay the interest accruing on such balance.

"(2) CONSULTATION WITH AND REPORT TO CONGRESS.-The Secretary of the Treasury and the Corporation shall

"(A) consult with the Committee on Banking, Finance and Urban Affairs of the House of Representatives and the Committee on Banking, Housing, and Urban Affairs of the Senate on the terms of any repayment schedule agreement described in paragraph (1) relating to repayment, including terms relating to any emergency special assessment under section 7(b)(7); and

"(B) submit a copy of each repayment schedule agreement entered into under paragraph (1) to the Committee on Banking, Finance and Urban Affairs of the House of Representatives and the Committee on Banking, Housing, and Urban Affairs of the Senate before the end of the 30-day period beginning on the date any amount is provided by the Secretary of the Treasury to the Corporation under subsection (a).".

(b) EMERGENCY SPECIAL ASSESSMENTS.— Section 7(b) of the Federal Deposit Insurance Act (12 U.S.C. 1817(b)) is amended by redesignating paragraphs (7), (8), and (9) as paragraphs (8), (9), and (10), respectively, and by inserting after paragraph (6) the following new paragraph:

"(7) EMERGENCY SPECIAL ASSESSMENTS.-In addition to the assessments imposed on insured depository institutions under other provisions of this subsection, the Corporation may impose 1 or more special assessments on insured depository institutions in an amount determined by the Corporation if the amount of any such assessment"(A) is necessary

"(i) to provide sufficient assessment income to repay amounts borrowed from the Secretary of the Treasury under section 14(a) in accordance with the repayment schedule in effect under section 14(c) during the period with respect to which such assessment is imposed;

"(ii) to provide sufficient assessment income to repay obligations issued to and other amounts borrowed from Bank Insurance Fund members under section 14(d); or "(iii) for any other purpose the Corporation may deem necessary; and

"(B) is allocated between Bank Insurance Fund members and Savings Association Insurance Fund members in amounts which reflect the degree to which the proceeds of the amounts borrowed are to be used for the benefit of the respective insurance funds.". SEC. 104. BORROWING FOR BIF FROM BIF MEMBERS.

Section 14 of the Federal Deposit Insurance Act (12 U.S.C. 1824) is amended by inserting after subsection (c) (as added by section 103 of this subtitle) the following new subsection:

(d) BORROWING FOR BIF FROM BIF MEM

BERS.

"(1) BORROWING AUTHORITY.-The Corporation may issue obligations to Bank Insurance Fund members, and may borrow from Bank Insurance Fund members and give security for any amount borrowed, and may pay interest on (and any redemption premium with respect to) any such obligation or amount to the extent

"(A) the proceeds of any such obligation or amount are used by the Corporation solely for purposes of carrying out the Corporation's functions with respect to the Bank Insurance Fund; and

"(B) the terms of the obligation or instrument limit the liability of the Corporation or the Bank Insurance Fund for the payment of interest and the repayment of principal to the amount which is equal to the amount of assessment income received by the Fund from assessments under section 7.

"(2) LIMITATIONS ON BORROWING.— "(A) APPLICABILITY OF PUBLIC DEBT LIMIT.— For purposes of the public debt limit estab

lished in section 3101(b) of title 31, United States Code, any obligation issued, or amount borrowed, by the Corporation under paragraph (1) shall be considered to be an obligation to which such limit applies.

"(B) APPLICABILITY OF FDIC BORROWING LIMIT. For purposes of the dollar amount limitation established in section 14(a) of the Federal Deposit Insurance Act (12 U.S.C. 1824(a)), any obligation issued, or amount borrowed, by the Corporation under paragraph (1) shall be considered to be an amount borrowed from the Treasury under such section.

"(C) INTEREST RATE LIMIT.-The rate of interest payable in connection with any obligation issued, or amount borrowed, by the Corporation under paragraph (1) shall not exceed an amount determined by the Secretary of the Treasury, taking into consideration current market yields on outstanding marketable obligations of the United States of comparable maturities.

"(D) OBLIGATIONS TO BE HELD ONLY BY BIF MEMBERS.-The terms of any obligation issued by the Corporation under paragraph (1) shall provide that the obligation will be valid only if held by a Bank Insurance Fund Member.

"(3) LIABILITY OF BIF.-Any obligation issued or amount borrowed under paragraph (1) shall be a liability of the Bank Insurance Fund.

"(4) TERMS AND CONDITIONS.-Subject to paragraphs (1) and (2), the Corporation shall establish the terms and conditions for obligations issued or amounts borrowed under paragraph (1), including interest rates and terms to maturity.

"(4) INVESTMENT BY BIF MEMBERS.

"(A) AUTHORITY TO INVEST.-Subject to subparagraph (B) and notwithstanding any other provision of Federal law or the law of any State, any Bank Insurance Fund member may purchase and hold for investment any obligation issued by the Corporation under paragraph (1) without limitation, other than any limitation the appropriate Federal banking agency may impose specifically with respect to such obligations.

"(B) INVESTMENT ONLY FROM CAPITAL AND RETAINED EARNINGS.-Any Bank Insurance Fund member may purchase obligations or make loans to the Corporation under paragraph (1) only to the extent the purchase money or the money loaned is derived from the member's capital or retained earnings.

"(5) ACCOUNTING TREATMENT.-In accounting for any investment in an obligation purchased from, or any loan made to, the Corporation for purposes of determining compliance with any capital standard and preparing any report required pursuant to section 7(a), the amount of such investment or loan shall be treated as an asset.".

Subtitle B-Supervisory Reforms SEC. 111. IMPROVED EXAMINATIONS. (a) ANNUAL EXAMINATIONS.

(1) IN GENERAL.-Section 10 of the Federal Deposit Insurance Act (12 U.S.C. 1820) is amended by inserting after subsection (c) the following new subsection:

"(d) ANNUAL ON-SITE EXAMINATIONS OF ALL INSURED DEPOSITORY INSTITUTIONS REQUIRED.—

"(1) IN GENERAL.-Each insured depository institution (other than an institution for which a conservator or receiver has been appointed) shall be examined at least once during each 12-month period (beginning on the date on which the most recent examination of such institution ended) by the appropriate Federal banking agency in an on-site examination unless the institution has been examined by the Corporation during such period in an on-site examination.

"(2) ACCEPTANCE OF STATE ON-SITE EXAMINATIONS.-Notwithstanding paragraph (1),