A bill entitled: "Foreign Bank Takeovers Study Act".

Summary

Directs the Board of Governors of the Federal Reserve System, the Comptroller of the Currency, the Board of Directors of the Federal Deposit Insurance Corporation, the Federal Home Loan Bank Board, the Antitrust Division of the Justice Department, the Federal Trade Commission, and at least four independent experts chosen by the Board of Governors to prepare a report analyzing the potential impact of foreign takeovers of United States depository institutions on the domestic economy and banking system. Sets forth items to be included in such report. Requires the submission of such report to the Congress within one year of the enactment of this Act. Prohibits the Board of Governors, the Comptroller of the Currency, the Federal Deposit Insurance Corporation, or the Federal Home Loan Bank Board from approving any application which would remove a material impediment to the foreign takeover of a domestic depository institution until one year following the submission to the Congress of the report prepared in accordance with this Act.

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Documents

1 official file

• Introduced in House

  summary · EN · 16 November 1979

  Open at official source

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