HR 5723
110th Congress
House
Finance and Financial Sector
Bank loans
Economics and Public Finance
Education
Federal home loan banks
Federally-guaranteed loans
Higher education
Investments
Securities
Student loan funds
Surety and fidelity
Emergency Student Loan Market Liquidity Act
Introduced: April 8, 2008
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Apr 8, 2008
Referred to the House Committee on Financial Services.
Apr 8, 2008
Introduced in House
Plain-English summary
Emergency Student Loan Market Liquidity Act - Amends the Federal Home Loan Bank Act to allow federal home loan banks to: (1) invest surplus funds in student loan securities; (2) accept student loans and student loan-related securities as collateral; and (3) provide secured long-term advances to member banks so that they can finance the origination of student loans or purchase or finance student loan-related securities.
Limits the application of this Act to Federal Family Education Loans (FFELs) made under the Higher Education Act of 1965.
Makes the banks' authority effective for investments and advances made between February 1, 2008, and two years after this Act's enactment.
What's happening now
Referred to the House Committee on Financial Services.
Committees of jurisdiction
1
Cosponsors
1