Semiannual Appearance of the Thrift Depositor Protection Board: Hearing Before the Committee on Banking, Finance, and Urban Affairs, House of Representatives, One Hundred Second Congress, Second Session, July 29, 1992, Volume 4 |
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... RTC is at a critical point in its mission . Without ade- quate funding , the RTC cannot sell , merge , or liquidate insolvent thrifts . The committee acted in a responsible manner and on March 12 , 1992 , approved H.R. 4241 , which ...
... RTC is at a critical point in its mission . Without ade- quate funding , the RTC cannot sell , merge , or liquidate insolvent thrifts . The committee acted in a responsible manner and on March 12 , 1992 , approved H.R. 4241 , which ...
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... RTC with additional funding . In addition , the RTC remains highly unpopular among the gener- al public . Events such as Western Storm and turmoil in the RTC legal office continue to plague the RTC . We know that . We also know that ...
... RTC with additional funding . In addition , the RTC remains highly unpopular among the gener- al public . Events such as Western Storm and turmoil in the RTC legal office continue to plague the RTC . We know that . We also know that ...
Page 1
... RTC funding problem and what we have suggested and what you have suggested is that we remove the April 1 deadline ... RTC for not doing its job be- cause we have not done ours , namely , providing the necessary funds . By refusing to ...
... RTC funding problem and what we have suggested and what you have suggested is that we remove the April 1 deadline ... RTC for not doing its job be- cause we have not done ours , namely , providing the necessary funds . By refusing to ...
Page 2
... RTC with additional funding . In addition , the RTC remains highly unpopular among the gener- al public . Events such as Western Storm and turmoil in the RTC legal office continue to plague the RTC . We know that . We also know that ...
... RTC with additional funding . In addition , the RTC remains highly unpopular among the gener- al public . Events such as Western Storm and turmoil in the RTC legal office continue to plague the RTC . We know that . We also know that ...
Page 3
... RTC funding problem and what we have suggested and what you have suggested is that we remove the April 1 deadline ... RTC for not doing its job be- cause we have not done ours , namely , providing the necessary funds . By refusing to ...
... RTC funding problem and what we have suggested and what you have suggested is that we remove the April 1 deadline ... RTC for not doing its job be- cause we have not done ours , namely , providing the necessary funds . By refusing to ...
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Common terms and phrases
accounts additional adequately Affordable Housing AMDP AMOP appropriate approved Assess ASSET MANAGEMENT bank billion budget Casey cash receipts Chairman Comments RTC-OCOS SAMDA committee compliance CONGRESS THE LIBRARY conservatorship CONTRACT FINANCIAL RELATED contracted assets Contractor control structures cost depositors deposits Determine documentation ensure evaluation FDIC fees FINANCIAL RELATED AUDIT FIRREA future contract identify institutions internal control issue laws and regulations ledger LIBRARY OF CONGRESS loan servicers management and disposition mortgage MWOB operations Oversight Board Oversight Manager percent perform the following PERFORMANCE AUDIT Procedures PERFORMANCE AUDIT SECTION Performed by Initials/Date policies and procedures potential PROGRAM AUDIT SPECIALIST property management receivership recommendations Reference or Comments RELATED AND PERFORMANCE reports resolution Resolution Trust Corporation responsibilities RESS RTC funding RTC policies RTC-OCOS SAMDA CONTRACT RTC's SAMDA CONTRACT FINANCIAL Schedule Reference Secretary BRADY securitization Select a sample seller financing subcontractors taxpayers thrifts transactions Wylie Yellow Book chapter
Popular passages
Page 14 - System, the Board of Directors of the Federal Deposit Insurance Corporation, the Federal Home Loan Bank Board (acting directly or through the Federal Savings and Loan Insurance Corporation), and the Administrator of the National Credit Union Administration. Section 203.2 — Definitions For the purposes of this Part, the following definitions apply unless the context indicates otherwise: (a) Act...
Page 72 - ... DLA and DPSC that the 3.6 million case level should not include any of the special appropriations or purchases related to Operation Desert Storm/Shield, and that the 3.6 million case level not assume or include any transfer of inventory or stores to and from DLA and DPSC.
Page 13 - ... for this purpose. The present value of these future commitments is $23 billion. At the time of the legislation, there was a great deal of uncertainty about the long-term cost of fixing the problem. The Administration stated repeatedly in letters and testimony that we could not say precisely which or how many institutions would fail, the nature and quality of their assets, what it would take to resolve them, how the performance of the economy and the real estate market would affect costs, or where...
Page 160 - The Honorable Thomas S. Foley Speaker of the House of Representatives Washington, DC 20515 Dear Mr. Speaker: This report is in response to Section 213 (c) of the Merchant Marine Act, 1936, as amended.
Page 109 - Of this total, the special bracket firms have been allocated over $800 million in bonds to sell. In addition to the Special Bracket co-manager initiative, the RTC has encouraged Special Bracket members to assume lead or primary managing underwriting responsibilities when circumstances permit. In October, 1991, a black-owned investment bank, Pryor, McClendon, Counts & Co. Inc., lead managed a $200 million mortgage-backed securities offering for the RTC. To our knowledge, this is the first time a minority-owned...
Page 95 - ... Corporation shall comply with the following provisions: "(i) PRESENT-VALUE ANALYSIS; DOCUMENTATION REQUIRED. — The Corporation shall — "(I) evaluate alternatives on a present-value basis, using a realistic discount rate; "(II) document that evaluation and the assumptions on which the evaluation is based, including any assumptions with regard to interest rates, asset recovery rates, asset holding costs, and payment of contingent liabilities; and "(III) retain the documentation for not less...
Page 158 - Allocation of additional support resources to the eight pilot civil FIF programs to facilitate the forfeiture and collections work and enhance tracking. - Continued implementation of an ambitious training program for newly acquired and applied resources. I am proud of the record of accomplishments outlined in this Report and the dedicated efforts of the many professionals within this Department, as well as those in the Treasury Department and the law enforcement and regulatory agencies who helped...
Page 18 - ... become redundant. Moreover, asset disposition strategies also changed with more centralization of effort, particularly with securitization and portfolio sales. Fewer field offices were necessary to conduct RTC business. A plan for the reorganization and consolidation of field offices was developed in March to adapt to these organizational developments. The reorganization and consolidation plan was also designed to accommodate a projected decline in workload. The reorganization and consolidation...
Page 72 - ... 1992." Before proceeding further, I would like to express our deepest appreciation to you, Mr. Chairman, and the other Members • of the Subcommittee, .for your efforts to secure funding for the RTC. You, and this Subcommittee, over five months ago acted decisively on behalf of the American taxpayer. There is no question that the best interests of our country are served by resolving insolvent institutions quickly. As one...
Page 11 - RTC have done a good job under difficult circumstances. But today we are faced with a different problem. It is not the problem of finding a plan to solve the S&L crisis. That has been done. It is not the problem of creating an organization to implement that plan. That also has been done.