Page:United States Statutes at Large Volume 107 Part 3.djvu/459

This page needs to be proofread.


PUBLIC LAW 103-204—DEC. 17, 1993 107 STAT. 2397 the Corporation under this subsection shall be carried out W the Federal Deposit Insurance Corporation.". (2) FDIC. —Section 40(n) of the Federal Deposit Insurance Act (12 U.S.C. 1831q(n)) is amended to read as follows: "(n) UNIFIED AFFORDABLE HOUSING PROGRAMS. — "(1) IN GENERAL.— Not later than 4 months after the date of enactment of the Resolution Trust Corporation Completion Act, the Corporation shall enter into an agreement, as described in paragraph (3), with the Resolution "^ust Corporation that sets out a plan for the orderly unification of the Corporation's activities, authorities, and responsibilities under this section with the authorities, activities, and responsibilities of the Resolution Trust Corporation pursuant to section 21A(c) of the Federal Home Loan Bank Act in a manner that best achieves an effective and comprehensive affordable housing program management structure. The agreement shall be entered into after consultation with the Affordable Housing Advisoiy Board under section 14(b) of the Resolution Trust Corporation Completion Act. "(2) AUTHORITY AND IMPLEMENTATION. —The Corporation shall have the authority to carry out the provisions of the agreement entered into pursuant to paragraph (1) and shall implement such agreement as soon as practicable but in no event later than 8 months after the date of enactment of the Resolution Trust Corporation Completion Act. "(3) TERMS OF AGREEMENT.—The agreement required under paragraph (1) shall provide a plan for— "(A) a program unifying all activities and responsibilities of the Corporation and the Resolution Trust Corporation, and the design of the unified program shall take into consideration the substantial experience of the Resolution Trust Corporation regarding— "(i) seller financing; "(ii) technical assistance; "(iii) marketing skills and relationships with public and nonprofit entities; and "(iv) staff resources; "(B) the elimination of duplicative and unnecessary administrative costs and resources; "(C) the management structure of the unified program; "(D) a timetable for the imification; and "(E) a methodology to determine the extent to which the provisions of this section shall be effective, in accordance with the limitations under subsection (b)(2). "(4) TRANSFER TO FDIC—Beginning not later than October 1, 1995, the Corporation shall carry out any remaining authority and responsibilities of the Resolution Trust Corporation, as set forth in section 21A(c) of the Federal Home Loan Bank Act.", (f) LIABILITY PROVISIONS.— (1) RTC. — Section 21A(c)(ll) of the Federal Home Loan Bank Act (12 U.S.C. 1441a(c)(ll)) is amended by adding at the end the following new subparagraph:

  • (D) CORPORATION. —The Corporation shall not be liable to any depositor, creditor, or shareholder of any insured

depository institution for which the Corporation has been appointed receiver or conservator, or of any subsidiary