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12 U.S.C. § 5219 — Contracting procedures
Federal law — U.S. Code and appendices · legal_authorities
**(a) Streamlined process** For purposes of this chapter, the Secretary may waive specific provisions of the Federal Acquisition Regulation upon a determination that urgent and compelling circumstances make compliance with such provisions contrary to the public interest. Any such determination, and the justification for such determination, shall be submitted to the Committees on Oversight and Government Reform and Financial Services of the House of Representatives and the Committees on Homeland Security and Governmental Affairs and Banking, Housing, and Urban Affairs of the Senate within 7 days.
**(b) Additional contracting requirements** In any solicitation or contract where the Secretary has, pursuant to subsection (a), waived any provision of the Federal Acquisition Regulation pertaining to minority contracting, the Secretary shall develop and implement standards and procedures to ensure, to the maximum extent practicable, the inclusion and utilization of minorities (as such term is defined in section 1204(c) of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 ([12 U.S.C. 1811](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1811&num=0&edition=prelim) note)) and women, and minority- and women-owned businesses (as such terms are defined in section 1441a(r)(4) 11 See References in Text note below. of this title), and individuals with disabilities and businesses owned by individuals with disabilities (for purposes of this subsection the term “individual with disability” has the same meaning as the term “handicapped individual” as that term is defined in [section 632(f) of title 15](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section632/f&num=0&edition=prelim)), in that solicitation or contract
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Source location: Title 12, Chapter 52, § 5219; chapter-052-emergency-economic-stabilization.md
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**(a) Streamlined process** For purposes of this chapter, the Secretary may waive specific provisions of the Federal Acquisition Regulation upon a determination that urgent and compelling circumstances make compliance with such provisions contrary to the public interest. Any such determination, and the justification for such determination, shall be submitted to the Committees on Oversight and Government Reform and Financial Services of the House of Representatives and the Committees on Homeland Security and Governmental Affairs and Banking, Housing, and Urban Affairs of the Senate within 7 days.
**(b) Additional contracting requirements** In any solicitation or contract where the Secretary has, pursuant to subsection (a), waived any provision of the Federal Acquisition Regulation pertaining to minority contracting, the Secretary shall develop and implement standards and procedures to ensure, to the maximum extent practicable, the inclusion and utilization of minorities (as such term is defined in section 1204(c) of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989 ([12 U.S.C. 1811](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1811&num=0&edition=prelim) note)) and women, and minority- and women-owned businesses (as such terms are defined in section 1441a(r)(4) 11 See References in Text note below. of this title), and individuals with disabilities and businesses owned by individuals with disabilities (for purposes of this subsection the term “individual with disability” has the same meaning as the term “handicapped individual” as that term is defined in [section 632(f) of title 15](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title15-section632/f&num=0&edition=prelim)), in that solicitation or contract, including contracts to asset managers, servicers, property managers, and other service providers or expert consultants.
**(c) Eligibility of FDIC** Notwithstanding subsections (a) and (b), the Corporation—
(1) shall be eligible for, and shall be considered in, the selection of asset managers for residential mortgage loans and residential mortgage-backed securities; and
(2) shall be reimbursed by the Secretary for any services provided.
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Federal law — U.S. Code and appendices · legal_authorities
All provisions of this chapter are designated as an emergency requirement and necessary to meet emergency needs pursuant to section 204(a) of S. Con. Res 11 So in original. Probably should be followed by a period. 21 (110th Congress), the concurrent resolution on the budget for fiscal year 2008 and rescissions of any amounts provided in this chapter shall not be counted for purposes of budget enforcement.
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 5201
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Establishment of Corporation** There is hereby established a Federal Deposit Insurance Corporation (hereinafter referred to as the “Corporation”) which shall insure, as hereinafter provided, the deposits of all banks and savings associations which are entitled to the benefits of insurance under this chapter, and which shall have the powers hereinafter granted.
**(b) Asset disposition division**
(1) **Establishment** — The Corporation shall have a separate division of asset disposition.
(2) **Management** — The division of asset disposition shall have an administrator who shall be appointed by the Board of Directors.
(3) **Responsibilities of division** — The division of asset disposition shall carry out all of the responsibilities of the Corporation under this chapter relating to the liquidation of insured depository institutions and the disposition of assets of such institutions.
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 1811
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Federal law — U.S. Code and appendices · legal_authorities
**(a) In general** Before the expiration of the 60-day period beginning on the date of the first exercise of the authority granted in [section 5211(a) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section5211/a&num=0&edition=prelim), or of the first exercise of the authority granted in [section 5212 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section5212&num=0&edition=prelim), whichever occurs first, and every 30-day period thereafter, the Secretary shall report to the appropriate committees of Congress, with respect to each such period—
(1) an overview of actions taken by the Secretary, including the considerations required by [section 5213 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section5213&num=0&edition=prelim) and the efforts under [section 5219 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section5219&num=0&edition=prelim);
(2) the actual obligation and expenditure of the funds provided for administrative expenses by [section 5228 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section5228&num=0&edition=prelim) during such period and the expected expenditure of such funds in the subsequent period; and
(3) a detailed financial statement with respect to the exercise of authority under this chapter, including—
(A) all agreements made or renewed;
(B) all insurance contracts entered into pursuant to [section 5212 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section5212&num=0&edition=prelim);
(C) all transactions occurring during such period, including the types of parties involved;
(D) the nature of the assets purchased;
Source: Supplied U.S. Code snapshot — release unconfirmed · 12 U.S.C. § 5217
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Federal law — U.S. Code and appendices · legal_authorities
Page 957
TITLE 12—BANKS AND BANKING
§ 1811
Sec.
1831v.
Authority of State insurance regulator and
Securities and Exchange Commission.
1831w.
Safety and soundness firewalls applicable to
financial subsidiaries of banks.
1831x.
Insurance customer protections.
1831y.
CRA sunshine requirements.
1831z.
Bi-annual FDIC survey and report on encour-
aging use of depository institutions by the
unbanked.
1831aa.
Enforcement of agreements.
1831bb.
Capital requirements for certain acquisition,
development, or construction loans.
1831cc.
Data standards.
1831dd.
Open data publication.
1832.
Withdrawals by negotiable or transferable in-
struments for transfers to third parties.
1833.
Repealed.
1833a.
Civil penalties.
1833b.
Comparability in compensation schedules.
1833c.
Comptroller General audit and access to
records.
1833d.
Repealed.
1833e.
Equal opportunity.
1834.
Reduced assessment rate for deposits attrib-
utable to lifeline accounts.
1834a.
Assessment credits for qualifying activities
relating to distressed communities.
1834b.
Community development organizations.
1835.
Insured depository institution capital re-
quirements for transfers of small business
obligations.
1835a.
Prohibition against deposit production of-
fices.
§ 1811. Federal Deposit Insurance Corporation
(a) Establishment of Corporation
There is hereby established a Federal Deposit
Insurance Corporation (hereinafter referred to
as the ‘‘Corporation’’) which shall insure, as
hereinafter provided, the deposits of all banks
and savings associations which are entitled to
the benefits of insurance under this chapter, and
which shall have the powers hereinafter granted.
(b) Asset disposition division
(1) Establishment
The Corporation shall have a separate divi-
s
Source: Supplied 2024 U.S. Code historical extraction · 12 U.S.C. § 1811
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Federal law — U.S. Code and appendices · legal_authorities
Page 1805
TITLE 12—BANKS AND BANKING
§ 5219
1 So in original. Probably should be ‘‘mortgage-backed’’.
Section 1441a(r)(4) of this title, referred to in subsec.
(b), was repealed by Pub. L. 111–203, title III, § 364(b),
July 21, 2010, 124 Stat. 1555.
AMENDMENTS
2009—Subsec. (b). Pub. L. 111–5 inserted ‘‘and individ-
uals with disabilities and businesses owned by individ-
uals with disabilities (for purposes of this subsection
the term ‘individual with disability’ has the same
meaning as the term ‘handicapped individual’ as that
term is defined in section 632(f) of title 15),’’ after ‘‘sec-
tion 1441a(r)(4) of this title),’’.
Statutory Notes and Related Subsidiaries
CHANGE OF NAME
Committee on Oversight and Government Reform of
House of Representatives changed to Committee on
Oversight and Reform of House of Representatives by
House Resolution No. 6, One Hundred Sixteenth Con-
gress, Jan. 9, 2019. Committee on Oversight and Reform
of House of Representatives changed to Committee on
Oversight and Accountability of House of Representa-
tives by House Resolution No. 5, One Hundred Eight-
eenth Congress, Jan. 9, 2023.
§ 5218. Conflicts of interest
(a) Standards required
The Secretary shall issue regulations or guide-
lines necessary to address and manage or to pro-
hibit conflicts of interest that may arise in con-
nection with the administration and execution
of the authorities provided under this chapter,
including—
(1) conflicts arising in the selection or hiring
of contractors or advisors, including asset
managers;
(2) the purchase of troubled assets;
(3) the management of the troubled assets
held;
(4) post-employment restrictions on employ-
ees; and
(5) any other potential conflict of interest,
as the Secretary deems necessary or appro-
priate
Source: Supplied 2024 U.S. Code historical extraction · 12 U.S.C. § 5219
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