Federal Home Loan Bank Modernization Act of 1993

Summary

Federal Home Loan Bank Modernization Act of 1993 - Amends the Federal Home Loan Bank Act to permit the withdrawal of any member from membership in a Federal Home Loan Bank. (Currently Federal savings and loan associations are precluded from doing so.) Replaces the minimum share subscription formula for Federal Home Loan Bank membership with a requirement based upon a subscriber's total assets (currently, aggregate unpaid loan principal). Repeals: (1) the 30 percent lending cap limitation on advances to members that are non-qualified thrift lenders; (2) the proscription against the acquisition of new advances from a Federal Home Loan Bank by a savings association lacking qualified thrift lender status; and (3) the minimum residential mortgage loan requirement for qualified thrift lender membership in the Federal Home Loan Bank system. Reduces from ten years to five years the waiting period before which a withdrawn member may resume membership. Modifies the formula for annual contributions by Federal Home Loan Banks to capitalize the Resolution Funding Corporation. Authorizes the Federal Home Loan Bank Board to impose assessments to make up for any deficiency resulting from such modification. Directs the Federal Housing Finance Board to study and report to the Congress on: (1) the feasibility of creating a class of affiliate members of the Federal Home Loan Banks for institutions that make long term home mortgage loans; and (2) the desirability of applying requirements to such members that differ from those currently applicable in specified areas to Federal Home Loan Bank members.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 24 February 1993

   Introduced

   Referred to the House Committee on Banking, Finance + Urban Affrs.

   Source: IntroReferral

2. 24 February 1993

   Introduced

   Sponsor introductory remarks on measure. (CR E442)

   Source: IntroReferral

3. 24 February 1993

   Introduced

   Introduced in House

   Source: IntroReferral

4. 24 February 1993

   Introduced

   Introduced in House

   Source: IntroReferral

5. 3 March 1993

   Referred

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

   Source: Committee

Votes

No vote records are attached yet.

Versions

• Introduced in House · 24 February 1993 · Download file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 24 February 1993

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 24 February 1993

  ViewDownloadOpen at official source

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• Introduced in House

  summary · EN · 24 February 1993

  Open at official source

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  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

• Rep. Baker, Richard H. [R-LA-6] · R · Sponsor
• Rep. Neal, Stephen L. [D-NC-5] · D · Sponsor
• Rep. McCollum, Bill [R-FL-8] · R · Cosponsor
• Rep. Bereuter, Doug [R-NE-1] · R · Cosponsor
• · hsba00 · Standing

Related records

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