9 авг 1989 г. - Financial Institutions Reform, Recovery, and Enforcement Act of 1989

Описание:

The Financial Institutions Reform, Recovery, and Enforcement Act of 1989 (abbreviated FIRREA; Pub. L. 101–73, 103 Stat. 183), is a United States federal law enacted in the wake of the savings and loan crisis of the 1980s.

FIRREA dramatically changed the savings and loan industry and its federal regulation, including deposit insurance.

The "Paulson Blueprint" summarized it in the following:
1) The Federal Home Loan Bank Board (FHLBB) was abolished.
2) The Federal Savings and Loan Insurance Corporation (FSLIC) was abolished, and all assets and liabilities were assumed by the FSLIC Resolution Fund administered by the FDIC and funded by the Financing Corporation (FICO).
3) The Office of Thrift Supervision (OTS), a bureau of the U.S. Treasury Department, was created to charter, regulate, examine, and supervise savings institutions.
4) The Federal Housing Finance Board (FHFB) was created as an independent agency to take the place of the FHLBB, i.e. to oversee the 12 Federal Home Loan Banks (also called district banks) that represent the largest collective source of home mortgage and community credit in the United States.
5) The Savings Association Insurance Fund (SAIF) took the place of the FSLIC as an ongoing insurance fund for thrift institutions (like the FDIC, the FSLIC was a permanent corporation that insured savings and loan accounts up to $100,000). SAIF is administered by the Federal Deposit Insurance Corporation.
6) The Resolution Trust Corporation (RTC) was established to dispose of failed thrift institutions taken over by regulators after January 1, 1989. The RTC will make insured deposits at those institutions available to their customers.

In addition, FIRREA gives both Freddie Mac and Fannie Mae additional responsibility to support mortgages for low and moderate-income families (12 U.S.C §1441a–2(b).

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