Interstate Banking Efficiency Act of 1993

Summary

TABLE OF CONTENTS: Title I: Interstate Banking and Branching Title II: CRA Evaluations Interstate Banking Efficiency Act of 1993 - Title I: Interstate Banking and Branching - Amends the Bank Holding Company Act of 1956 to prescribe guidelines under which the Federal Reserve Board may approve applications by bank holding companies or foreign banks to acquire voting shares or interests in additional insured depository institutions or banking holding companies located in any State (State law to the contrary notwithstanding). Amends Federal banking law to prescribe guidelines under which the Comptroller of the Currency may approve applications by adequately capitalized and adequately managed national banks to acquire and operate interstate branches. Authorizes the States, by a specified deadline, to: (1) either permit or prohibit interstate branching by national or State banks; and (2) set conditions upon such branching. Amends the Federal Deposit Insurance Act (FDIA) to set forth parameters under which adequately capitalized and adequately managed insured State banks may engage in interstate branching. Permits the States to coordinate their bank examination and regulatory activities. Amends the International Banking Act of 1978 to prescribe guidelines under which foreign banks may establish interstate banking operations. Amends the Bank Holding Company Act of 1956 and specified Federal banking law to authorize the interstate consolidation or merger of bank holding company subsidiary banks, subject to prescribed guidelines. Conditions Federal Reserve Board approval of such consolidation upon submission by the applicant of a plan for meeting the credit needs of the local communities served by the merger. Sets forth capitalization requirements for new interstate banking and branching activities. Requires Federal banking regulatory agencies to prescribe regulations which: (1) prohibit any person from engaging in interstate branching primarily for the purpose of deposit production; (2) include guidelines to ensure that each interstate branch meets the credit needs of its local community and market area; and (3) restrict the ratio of out-of-State loans by interstate branches. Amends Federal banking law to authorize State regulatory agencies to review the records of Federal depository institutions for State tax compliance purposes. Title II: CRA Evaluations - Amends the Community Reinvestment Act of 1977 to require the appropriate Federal financial supervisory agency to prepare written State-by-State evaluations of the performance records of financial institutions with interstate branches.

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

Timeline

1. 20 May 1993

   Introduced

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

   Source: IntroReferral

2. 20 May 1993

   Introduced

   Sponsor introductory remarks on measure. (CR E1308)

   Source: IntroReferral

3. 20 May 1993

   Introduced

   Introduced in House

   Source: IntroReferral

4. 20 May 1993

   Introduced

   Introduced in House

   Source: IntroReferral

5. 28 May 1993

   Referred

   Referred to the Subcommittee on Consumer Credit and Insurance.

   Source: Committee

6. 22 June 1993

   Committee

   Subcommittee Hearings Held.

   Source: Committee

7. 29 July 1993

   Committee

   Subcommittee Hearings Held.

   Source: Committee

Votes

No vote records are attached yet.

Versions

• Introduced in House · 20 May 1993 · Download file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 20 May 1993

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 20 May 1993

  ViewDownloadOpen at official source

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• Introduced in House

  summary · EN · 20 May 1993

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  Vertaal document

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

Sponsors

• Rep. Vento, Bruce F. [D-MN-4] · D · Sponsor
• Rep. Neal, Stephen L. [D-NC-5] · D · Sponsor
• Rep. McCollum, Bill [R-FL-8] · R · Sponsor
• · hsba00 · Standing

Related records

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