PUBLIC LAW 103-204—DEC. 17, 1993
107 STAT. 2387
capital or to maintain the members' assessment
base; and
(II) an increase in the assessment rates for
Savings Association Insurance Fund members to
cover such losses could reasonably be expected to
result in greater losses to the Government;
'Xiii) the Board of Directors has determined that—
"(I) Savings Association Insurance Fund members, in the aggregate, are unable to pay additional
semianiiiual assessments under section 7(b) at the
assessment rates which would be required in order
to meet the repayment schedule required under
section 14(c) for any amount borrowed under section 14(a) to cover losses which have been incurred
or can reasonably be expected to be inciirred by
the Savings Association Insurance Fund without
adversely affecting the ability of such members
to raise and maintain capital or to maintain such
members' assessment base; and
"(11) an increase in the assessment rates for
Savings Association Insurance Fund members to
meet any such repayment schedule could reasonably be expected to result in greater losses to
the (jovernment;
"(iv) the Corporation has provided for the appointment of a chief financial officer who—
"(I) does not have other operating responsibilities;
"(11) will report directly to the Chairperson
of the Corporation; and
"(III) will have such authority and duties of
chief financial officers under section 902 of title
31, United States Code, as the Board of Directors
of the Corporation determines to be appropriate
with respect to the Corporation;
"(v) the Corporation has provided for the appointment of a senior officer whose responsibilities shall
include setting uniform standards for contracting and
contracting enforcement in connection with the
administration of the Fund;
"(vi) the Corporation is implementing the minority
outreach provisions mandated by section 1216 of the
Financial Institutions Reform, Recovery, and Enforcement Act of 1989;
"(vii) the Corporation has provided for the appointment of a senior attorney, at the assistant general
counsel level or above, responsible for professional
liability cases; and
"(viii) the Corporation has improved the management of legal services by—
"(I) utilizing staff counsel when such utilization would provide the same level of quality in
legal services as the use of outside counsel at
the same or a lower estimated cost; and
"(II) employing outside counsel only if the use
of outside counsel would provide the most practicable, efficient, and cost-effective resolution to
69-194O-94-15:QL.3Part3
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