CLARIFICATION OF SUBPOENA AUTHORITY FOR FDIC, RTC, AND NCUA ACTING AS CONSERVATOR, RECEIVER, OR LIQUIDATING AGENT.

SEC. 2534. CLARIFICATION OF SUBPOENA AUTHORITY FOR FDIC, RTC, AND NCUA ACTING AS CONSERVATOR, RECEIVER, OR LIQUIDATING AGENT. (a) FDIC and RTC Authority.— Section 11(d)(2) of the Federal Deposit Insurance Act (12 U.S.C. 1821(d)(2)) is amended by redesignating subparagraph (I) as subparagraph (J) and by inserting after subparagraph (H) the following new subparagraph: “(I) Subpoena authority.— “(i) In general.— The Corporation may, as conservator, receiver, or exclusive manager and tor purposes of carrying out any power, authority, or duty with respect to an insured depository institution (including determining any claim against the institution and determining and realizing upon any asset of any person in the course of collecting money due the institution), exercise any power established under section 8(n), and the provisions of such section shall apply with respect to the exercise of any such power under this subparagraph in the same manner as such provisions apply under such section. “(ii) Authority of board of directors.— A subpoena or subpoena duces tecum may be issued under clause (i) only by, or with the written approval of, the Board of Directors or their designees (or, in the case of a subpoena or subpoena duces tecum issued by the Resolution Trust Corporation under this subparagraph and section 21A(b)(4), only by, or with the written approval of, the Board of Directors of such Corporation or their designees). “(iii) Rule of construction.— This subsection shall not be construed as limiting any rights that the Cor-104 STAT. 4883 poration, in any capacity, might otherwise have under setion 10(c) this Act.”. (b) NCUA Authority.— Section 207(b)(2) of the Federal Credit Union Act (12 U.S.C. 1787(b)(2)) is amended by redesignating subparagraph (I) (as so redesignated by section 202(b) of this Act) as subparagraph (J) and by inserting after subparagraph (H) (as added by such section) the following new subparagraph: “(I) Subpoena authority.— “(i) In general.— The Board may, as conservator or liquidating agent and for purposes of carrying out any power, authority, or duty with respect to an insured credit union (including determining any claim against the credit union and determining and realizing upon any asset of any person in the course of collecting money due the credit union), exercise any power established under section 206(p), and the provisions of such section shall apply with respect to the exercise of any such power under this subparagraph in the same manner as such provisions apply under such section. “(ii) Authority of board.— A subpoena or subpoena duces tecum may be issued under clause (i) only by, or with the written approval of, the Board or their designees. “(iii) Rule of construction.— This subsection shall not be construed as limiting any rights that the Board, in any capacity, might otherwise have under section 206(p).”.