S 1419
103th Congress
Senate
Finance and Financial Sector
Bank failures
Deposit insurance
Savings and loan associations
A bill to provide for regional equity in funding resolution of failed savings associations, and for other purposes.
Everywhere this bill has been
3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Aug 6, 1993
Read twice and referred to the Committee on Banking.
Aug 6, 1993
Sponsor introductory remarks on measure. (CR S10894-10896)
Aug 6, 1993
Introduced in Senate
Plain-English summary
Amends the Federal Home Loan Bank Act to direct the Resolution Trust Corporation to: (1) determine the aggregate amounts expended in providing assistance for case resolutions during a certain time period for federally insured State savings associations; and (2) apportion those amounts among the States according to a specified formula reflecting their respective contributions to the cost of resolving State-chartered thrifts since 1988 (thus resulting in higher contributions from high-risk States).
Requires the Federal Deposit Insurance Corporation to terminate the deposit insurance for State depository institutions located in any State which fails to pay the required contributions.
What's happening now
Read twice and referred to the Committee on Banking.
Committees of jurisdiction
1