Page:United States Statutes at Large Volume 105 Part 1.djvu/90

This page needs to be proofread.


105 STAT. 62 PUBLIC LAW 102-18—MAR. 23, 1991 interests in any assets or any obligations backed by any assets) by the Corporation, and the indemnification authorized by this provision shall be in addition to and not in lieu of any immunities or other protections that may be available to such person under applicable law, and this provision does not affect any such immunities or other protections;". SEC. 105. CLARIFICATION OF REVIEW OF PRIOR CASES. Section 21A(b)(ll)(B) of the Federal Home Loan Bank Act (12 U.S.C. 1441a(b)(ll)(B)) is amended— (1) by striking "The Corporation shall exercise" and inserting the following: " (C) PROVISIONS APPLICABLE TO REVIEW OF PRIOR CASES.— "(i) IN GENERAL.— The Corporation shall exercise"; and (2) by adding at the end of subparagraph (C), as so designated by paragraph (1) of this section, the following: " (ii) ADDITIONAL PROVISIONS. —The Corporation, in modifying, renegotiating, or restructuring the insolvent institution cases resolved by the Federal Savings and Loan Insurance Corporation between January 1, 1988, and the date of enactment of the Financial Institutions Reform, Recovery and Enforcement Act of 1989, shall carry out its responsibilities under section 519(a) of the Department of Veterans Affairs and Housing and Urban Development, and Independent Agencies Appropriations Act, 1991 (104 Stat. 1386) and shall, consistent with achieving the greatest overall financial savings to the Federal Government, pursue all legal means by which the Corporation can reduce both the direct outlays and the tax benefits associated with such cases, including, but not limited to, restructuring to eliminate tax-free interest payments and renegotiating to capture a larger portion of the tax benefits for the Corporation.". TITLE II-^RTC DISPOSITION OF AFFORDABLE HOUSING SEC. 201. AMENDMENTS RELATING TO SCOPE OF PROGRAM. (a) DEFINITION OF CORPORATION.— Section 21A(c)(9)(C) of the Federal Home Loan Bank Act (12 U.S.C. 1441a(c)(9)(C)) is amended by striking the period at the end and inserting ", except that for purposes of subsection (c)(2) only, the term means the Resolution Trust Corporation acting in any capacity.". (b) SALES TO INSURED DEPOSITORY INSTITUTIONS EXCLUDED FROM PROGRAM.— Section 21A(c)(10) of the Federal Home Loan Bank Act (12 U.S.C. 1441a(c)(10)) is amended to read as follows: "(10) EXEMPTION FOR CERTAIN TRANSACTIONS WITH INSURED DEPOSITORY INSTITUTIONS. — The provisions of this subsection shall not apply with respect to any eligible residential property after the date the Corporation enters into a contract to sell such property to an insured depository institution (as defined in section 3 of the Federal Deposit Insurance Act), including any