PURPOSES.

SEC. 101. [12 U.S.C. 1811 nt.] PURPOSES. The purposes of this Act are as follows: (1) To promote, through regulatory reform, a safe and stable system of affordable housing finance. (2) To improve the supervision of savings associations by strengthening capital, accounting, and other supervisory standards. (3) To curtail investments and other activities of savings associations that pose unacceptable risks to the Federal deposit insurance funds. (4) To promote the independence of the Federal Deposit Insurance Corporation from the institutions the deposits of which it insures, by providing an independent board of directors, adequate funding, and appropriate powers. (5) To put the Federal deposit insurance funds on a sound financial footing. (6) To establish an Office of Thrift Supervision in the Department of the Treasury, under the general oversight of the Secretary of the Treasury. (7) To establish a new corporation, to be known as the Resolution Trust Corporation, to contain, manage, and resolve failed savings associations. (8) To provide funds from public and private sources to deal expeditiously with failed depository institutions. (9) To strengthen the enforcement powers of Federal regulators of depository institutions. (10) To strengthen the civil sanctions and criminal penalties for defrauding or otherwise damaging depository institutions and their depositors. * * * * * * *