Broker Deposit Regulation Act

Summary

Broker Deposit Regulation Act - Requires the appropriate Federal supervisory agencies to prescribe regulations providing that no insured depository institution shall maintain insured short-term broker deposits in excess of 15 percent of such institution's total deposits. Permits the Federal supervisory agency to authorize any insured depository institution, upon application, to maintain insured short-term broker deposits in excess of such limitation. Permits the supervisory agency to limit the amount of insured short-term broker deposits maintained by such an institution to less than 15 percent if it is in the best interests of the Federal insurance fund involved. Declares that, for the purposes of deposit insurance and for determining the total amount of insured deposits which may be made by any person, the supervisory agency shall not make any rule or regulation which shall differentiate between deposits made with the assistance of a deposit broker and deposits made without such assistance. Requires each insured depository institution to transmit a monthly report to the appropriate Federal supervisory agency detailing the amount of short-term broker deposits maintained by such institution.

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

Timeline

No timeline events have been ingested for this record yet.

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

1 official file

• Introduced in House

  summary · EN · 10 May 1984

  Open at official source

Sponsors

No sponsors or actors listed by the source.

Related records

No cross-record relationships stored yet.