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HR 1171 102th Congress House Finance and Financial Sector Bank deposits Bank failures Deposit insurance Insurance premiums Savings and loan associations State finance

State Thrift Deposit Insurance Premium Act of 1991

Introduced: February 27, 1991 See on congress.gov
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 Everywhere this bill has been 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Mar 15, 1991
Referred to the Subcommittee on Financial Institutions Supervision, Regulation and Insurance.
Feb 27, 1991
Referred to the House Committee on Banking, Finance + Urban Affrs.
Feb 27, 1991
Introduced in House
 Plain-English summary Congressional Research Service

State Thrift Deposit Insurance Premium Act of 1991 - Amends the Federal Deposit Insurance Act to direct the Federal Deposit Insurance Corporation to determine and apportion among the States the cumulative cost of Federal assistance provided to State-chartered savings associations for case resolutions. Declares as "high risk" any State whose share of State resolution costs exceeds twice its share of 1980 State deposits.

Mandates that each high risk State pay to the Savings Association Insurance Fund (SAIF) prescribed premiums reflecting such risk. Sets forth insurance termination procedures if a State fails to pay the required premium. Requires depositor notification of such insurance termination. Mandates that the premium paid by high-risk States into the SAIF shall be available to pay the thrift resolution costs incurred by the FSLIC Resolution Fund or the Resolution Trust Corporation, as appropriate.

What's happening now March 15, 1991

Referred to the Subcommittee on Financial Institutions Supervision, Regulation and Insurance.

 Committees of jurisdiction 2
 Cosponsors 3
All 3 Democratic 2 Independent 1