Metrocorp, Inc. - Page 14




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          the moratorium expired.  See CEBA sec. 306(h), 101 Stat. 602,               
          amended by Pub. L. 100-378, sec. 10, 102 Stat. 887, 889 (1988),             
          current version at 12 U.S.C. sec. 1730(d)(1) (1994).  The intent            
          of CEBA was to recapitalize the depleted FSLIC.  See Branch                 
          Banking & Trust Co. v. FDIC, 172 F.3d 317, 320 (4th Cir. 1999).             
               CEBA proved to be ineffective in replenishing the FSLIC’s              
          insurance funds, and, on August 9, 1989, Congress enacted the               
          Financial Institutions Reform, Recovery and Enforcement Act of              
          1989 (FIRREA), Pub. L. 101-73, 103 Stat. 183, as an emergency               
          measure to prevent the collapse of the savings association                  
          industry.  See H. Rept. 101-54(I) at 307 (1989); see also H.                
          Conf. Rept. 101-222 at 393 (1989); United States v. Winstar                 
          Corp., supra at 856.  In relevant part, FIRREA abolished the                
          FSLIC, transferred to the FDIC the responsibility of insuring the           
          deposits at savings associations, and established the BIF and the           
          SAIF.  FIRREA gave the FDIC responsibility for regulating both              
          the insurance fund it had traditionally administered (now known             
          as the BIF) and the insurance fund formerly regulated by the                
          FSLIC (now known as the SAIF).  See FIRREA secs. 202, 215, 103              
          Stat. 188, 252.  FIRREA imposed on SAIF (as opposed to BIF)                 
          participants higher deposit premiums and a higher degree of                 
          supervision in an attempt to ensure the SAIF’s strength.  See               
          generally 12 U.S.C. sec. 1817 (1994).                                       








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