WASHINGTON - James R. Faulstitch, president of the Federal Home Loan Bank of Seattle, is the new chairman of the Resolution Funding Corp., the agency created in 1989 to fund the thrift bailout.

In addition, George M. Barclay, president of the Federal Home Loan Bank of Dallas, was named to the funding corporation's governing directorate.

Mr. Faulstitch joined the Seattle bank in 1979. He had been senior vice president of the National Association of Independent Insurers. Mr. Barclay has been at the Dallas bank since 1983, and has been its president since 1987.

The funding corporation's directorate consists of three members appointed by the Thrift Depositor Protection Oversight Board - an agency created to monitor the thrift bailout. The funding corporation's chairman is picked by the oversight board from the directorate.

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