HR 4116
114th Congress
House
Finance and Financial Sector
Bank accounts, deposits, capital
Banking and financial institutions regulation
To amend the Federal Deposit Insurance Act to ensure that the reciprocal deposits of an insured depository institution are not considered to be funds obtained by or through a deposit broker, and for other purposes.
Everywhere this bill has been
3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Sep 27, 2016
Hearings Held by the Subcommittee on Financial Institutions and Consumer Credit Prior to Referral.
Nov 19, 2015
Referred to the House Committee on Financial Services.
Nov 19, 2015
Introduced in House
Plain-English summary
This bill amends the Federal Deposit Insurance Act with respect to the prohibition declaring that an insured depository institution that is not well-capitalized may not accept funds obtained, directly or indirectly, by or through any deposit broker for deposit into one or more deposit accounts.
Reciprocal deposits of an insured depository institution, however, shall not be considered to be prohibited broker deposits if:
- the composite condition of the institution at its most recent examination was adjudged either good or outstanding, or
- total reciprocal deposits of the institution do not exceed either $10 billion or 20% of its total liabilities.
What's happening now
Hearings Held by the Subcommittee on Financial Institutions and Consumer Credit Prior to Referral.
Committees of jurisdiction
2