A bill to amend the Federal Deposit Insurance Act to clarify provisions intended to protect the Corporation from having bank loans or other assets diluted by secret side agreements.

Summary

Amends the Federal Deposit Insurance Act to provide that any agreement which tends to diminish or defeat the interest of the Federal Deposit Insurance Corporation (FDIC) in any asset acquired in its capacity as conservator or receiver, and which does not meet certain statutory requirements, shall not form the basis of, or substantially comprise, a claim against the FDIC. (This narrows the applicability of the D'oench Duhane Doctrine only to agreements involving an asset.)

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Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 19 November 1993

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• Introduced in Senate (PDF)

  Introduced in Senate · EN · 19 November 1993

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 19 November 1993

  Open at official source

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