Financing Corporation and Savings Association Insurance Fund Amendments of 1995

Summary

Financing Corporation and Savings Association Insurance Fund Amendments of 1995 - Amends the Federal Deposit Insurance Act (FDIA) to direct the Secretary of the Treasury to provide to the Savings Association Insurance Fund (SAIF), out of specified funds not expended by the Resolution Trust Corporation (RTC), amounts needed either to cover actual or anticipated losses or to increase its reserve ratio. Repeals the prerequisite that the chairperson of the Board of Directors of the Federal Deposit Insurance Corporation (FDIC) make specified certifications to the Congress as a condition of such transfer. Amends the Federal Home Loan Bank Act (FHLBA) to direct the FDIC to transfer certain funds from the SAIF to the Financing Corporation (FICO) to cover the interest payments, issuance costs, and custodial fees on FICO obligations. Amends the FDIA to repeal the minimum assessments requirements for a deposit insurance fund risk-based assessment system. Amends the FHLBA to include within FICO's assessment authority specified SAIF members and Bank Insurance Fund members whose deposits are treated as insured by the SAIF. Limits the average assessment rate differential between former BIF and SAIF members to a maximum of nine basis points.

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Timeline

1. 7 April 1995

   Introduced

   Referred to the House Committee on Banking and Financial Services.

   Source: IntroReferral

2. 7 April 1995

   Introduced

   Sponsor introductory remarks on measure. (CR E855-856)

   Source: IntroReferral

3. 7 April 1995

   Introduced

   Introduced in House

   Source: IntroReferral

4. 7 April 1995

   Introduced

   Introduced in House

   Source: IntroReferral

5. 21 April 1995

   Referred

   Referred to the Subcommittee on Financial Institutions and Consumer Credit.

   Source: Committee

Votes

No vote records are attached yet.

Versions

• Introduced in House · 7 April 1995 · Official file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 7 April 1995

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 7 April 1995

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 7 April 1995

  Open at official source

Sponsors

• Rep. LaFalce, John J. [D-NY-36] · D · Sponsor
• · hsba00 · Standing

Related records

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