Amendment102nd Congress
An amendment which like the original bill provides $30 billion to the RTC to cover thrift losses in FY 1991 but which also includes other provisions. The amendment requires the RTC to take actions to achieve eight specified management reform goals: to standardize RTC procedures for auditing conservatorships; to reduce the length of time that institutions are in conservatorship, with a goal of no more than 9 months; to make specified improvements to the RTC's information resources management program; to develop a centralized system for managing the portfolio of securities under its control; to develop an effective system to track and inventory real estate assets; to develop a process to update, on a quarterly basis, the value of assets under receivership; to develop a program for examining one- to four-family mortgages and for marketing such loans on a pooled basis; and, to regularly review its organizational contracting structure, and standardize its contracting procedures. The RTC would be required, by the end of FY 1991, to report to Congress on its progress towards achieving these goals, and to establish a timetable for achieving goals not yet completed.
- Amendment Number
- 16
- Description
- An amendment which like the original bill provides $30 billion to the RTC to cover thrift losses in FY 1991 but which also includes other provisions. The amendment requires the RTC to take actions to achieve eight specified management reform goals: to standardize RTC procedures for auditing conservatorships; to reduce the length of time that institutions are in conservatorship, with a goal of no more than 9 months; to make specified improvements to the RTC's information resources management program; to develop a centralized system for managing the portfolio of securities under its control; to develop an effective system to track and inventory real estate assets; to develop a process to update, on a quarterly basis, the value of assets under receivership; to develop a program for examining one- to four-family mortgages and for marketing such loans on a pooled basis; and, to regularly review its organizational contracting structure, and standardize its contracting procedures. The RTC would be required, by the end of FY 1991, to report to Congress on its progress towards achieving these goals, and to establish a timetable for achieving goals not yet completed.
- Purpose
- Amendment in the nature of a substitute sought to authorize $30 billion in funding for the Resolution Trust Corporation (RTC). It would have required the RTC to make certain management efficiency and reporting improvements.
- Congress
- 102
- Type
- HAMDT
- Latest Action Date
- Mar 12, 1991
- Latest Action Text
- On agreeing to the Wylie amendment (A002) Failed by recorded vote: 190 - 235 (Roll no. 40).
- Latest Action Time
- 19:03:39
- Submitted Date
- Mar 12, 1991
- Chamber
- House of Representatives
- Update Date
- Jun 7, 2021