Page:United States Statutes at Large Volume 103 Part 1.djvu/296
103 STAT. 268 PUBLIC LAW 101-73 —AUG. 9, 1989 ' ownership or control of, or its relationship to, the" sub- sidiary— "(i) constitutes a serious risk to the safety, soundness, or stability of the insured savings association, or '
"(ii) is inconsistent with sound banking principles or ." with the purposes of this Act. Upon making any such determination, the Corporation or the Director of the Office of Thrift Supervision shall have authority to order the insured savings association to divest ' itself of control of the subsidiary. The Director of the Office of Thrift Supervision may take any other corrective meas- ures with respect to the subsidiary, including the authority to require the subsidiary to terminate the activities or operations posing such risks, as the Director may deem appropriate. "(3) ACTIVITIES INCOMPATIBLE WITH DEPOSIT INSURANCE. — - "(A) IN GENERAL.— The Corporation may determine by regulation or order that any specific activity poses a serious J, threat to the Savings Association Insurance Fund. Prior to adopting any such regulation, the Corporation shall consult with the Director of the Office of Thrift Supervision and shall provide appropriate State supervisors the opportunity o comment thereon, and the Corporation shall specifically ake such comments into consideration. Any such regula- ion shall be issued in accordance with section 553 of title 5,
Jnited States Code. If the Board of Directors makes such a ietermination with respect to an activity, the Corporation shall have authority to order that no Savings Association Insurance Fund member may engage in the activity di- rectly. "(B) AUTHORITY OF DIRECTOR. —This section does not limit c the authority of the Office of Thrift Supervision to issue regulations to promote safety and soundness or to enforce compliance with other applicable laws. "(C) ADDITIONAL AUTHORITY OF FDIC TO PREVENT SERIOUS RISKS TO INSURANCE FUND.— Notwithstanding subparagraph ^ (A), the Corporation may prescribe and enforce such regula- tions and issue such orders as the Corporation determines to be necessary to prevent actions or practices of savings associations that pose a serious threat to the Savings Association Insurance Fund or the Bank Insurance Fund. "(4) 'SUBSIDIARY' DEFINED. —As used in this subsection, the term 'subsidiary' does not include an insured depository institu- ' tion. "(5) APPLICABILITY TO CERTAIN SAVINGS BANKS.— Subpara- graphs (A) and (B) of paragraph (1) of this subsection do not apply to— "(A) any Federal savings bank that was chartered prior to October 15, 1982, as a savings bank under State law, or "(B) a savings association that acquired its principal assets from an institution that was chartered prior to Octo- ber 15, 1982, as a savings bank under State law. "(n) CALCULATION OF CAPITAL.—No appropriate Federal banking agency shall allow any insured depository institution to include an unidentifiable intangible asset in its calculation of compliance with ^ . the appropriate capital standard, if such unidentifiable intangible�