Page:United States Statutes at Large Volume 107 Part 3.djvu/449

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PUBLIC LAW 103-204—DEC. 17, 1993 107 STAT. 2387 capital or to maintain the members' assessment base; and (II) an increase in the assessment rates for Savings Association Insurance Fund members to cover such losses could reasonably be expected to result in greater losses to the Government; 'Xiii) the Board of Directors has determined that— "(I) Savings Association Insurance Fund members, in the aggregate, are unable to pay additional semianiiiual assessments under section 7(b) at the assessment rates which would be required in order to meet the repayment schedule required under section 14(c) for any amount borrowed under section 14(a) to cover losses which have been incurred or can reasonably be expected to be inciirred by the Savings Association Insurance Fund without adversely affecting the ability of such members to raise and maintain capital or to maintain such members' assessment base; and "(11) an increase in the assessment rates for Savings Association Insurance Fund members to meet any such repayment schedule could reasonably be expected to result in greater losses to the (jovernment; "(iv) the Corporation has provided for the appointment of a chief financial officer who— "(I) does not have other operating responsibilities; "(11) will report directly to the Chairperson of the Corporation; and "(III) will have such authority and duties of chief financial officers under section 902 of title 31, United States Code, as the Board of Directors of the Corporation determines to be appropriate with respect to the Corporation; "(v) the Corporation has provided for the appointment of a senior officer whose responsibilities shall include setting uniform standards for contracting and contracting enforcement in connection with the administration of the Fund; "(vi) the Corporation is implementing the minority outreach provisions mandated by section 1216 of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989; "(vii) the Corporation has provided for the appointment of a senior attorney, at the assistant general counsel level or above, responsible for professional liability cases; and "(viii) the Corporation has improved the management of legal services by— "(I) utilizing staff counsel when such utilization would provide the same level of quality in legal services as the use of outside counsel at the same or a lower estimated cost; and "(II) employing outside counsel only if the use of outside counsel would provide the most practicable, efficient, and cost-effective resolution to 69-194O-94-15:QL.3Part3