New England Interstate Banking Act of 1983

Summary

New England Interstate Banking Act of 1983 - Permits a national banking association whose main office is located in New England (Massachusetts, Connecticut, Rhode Island, Maine, Vermont, or New Hampshire) to establish and operate new branches within any of such States in which such establishment and operation are authorized by both States by language specifically granting such authority. Amends the Bank Holding Company Act of 1956 and the Home Owners' Loan Act to direct the Federal Reserve Board and the Federal Home Loan Bank Board, in considering applications from holding companies located in a New England State to acquire institutions located in another New England State, to give effect to any State laws allowing such acquisitions. Amends the Federal Deposit Insurance Act to direct the Federal Deposit Insurance Corporation to give effect to any appropriate State laws when considering the application of any State non-member bank whose main office is located in New England to establish a branch in any other such State. Amends the Federal Deposit Insurance Act and the Home Owners' Loan Act to require the appropriate Federal regulators to give effect to the appropriate State laws when reviewing merger transactions involving a New England bank, savings bank, or savings and loan association. Repeals the amendments made by this Act five years after the date of enactment. Requires the President to report to Congress within four years on the effect, if any, that this Act has had on the financial, economic, and banking environment of New England.

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1 official file

• Introduced in Senate

  summary · EN · 7 April 1983

  Open at official source

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