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United States · Bill · S

S. 1810 (97th)

A bill to amend the Federal Deposit Insurance Act regarding insured mutual savings banks which convert into Federal mutual savings banks.

openUnited States· United States Congress· EN

Introduced

4 November 1981

Last action

18 January 1982 · Committee

Status

Committee on Banking received executive comment from Federal Home Loan Bank Board. Favorable.

Sponsors

Sen. D'Amato, Alfonse [R-NY], Sen. Proxmire, William [D-WI], Sen. Heinz, John [R-PA], Sen. Cohen, William S. [R-ME]

Subjects

Discovery layer

Source updated

14 January 2025

Official sourceView documentsShare

Summary

Amends the Federal Deposit Insurance Act to require the Federal Deposit Insurance Corporation to indemnify the Federal Savings and Loan Insurance Corporation against any losses incurred by a converted mutual savings bank resulting from decline in market value of assets prior to conversion due to interest rate fluctuations. Extends such indemnification period from five to seven years. Directs the Federal Home Loan Bank Board, before acting on a proposed merger, branch, or other application involving a converted savings bank during such indemnification period, to request a report on the financial and managerial resources and future prospects of the proposed transaction from the Corporation. Directs the Corporation to furnish such report within specified time periods. Provides for arbitration by the Board of Governors of the Federal Reserve in the case of any proposed transaction when the Federal Home Loan Bank Board and the Corporation do not concur.

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

Timeline

  1. 4 November 1981

    Introduced

    Read second time and referred to Senate Committee on Banking.

    Source: IntroReferral

  2. 4 November 1981

    Introduced

    Introduced in Senate

    Source: IntroReferral

  3. 6 November 1981

    Committee

    Committee on Banking requested executive comment from Federal Reserve System; Federal Deposit Insurance Corporation; Federal Home Loan Bank Board.

    Source: Committee

  4. 18 November 1981

    Committee

    Committee on Banking received executive comment from Federal Deposit Insurance Corporation. Unfavorable.

    Source: Committee

  5. 18 January 1982

    Committee

    Committee on Banking received executive comment from Federal Home Loan Bank Board. Favorable.

    Source: Committee

Votes

No vote records are attached yet.

Versions

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Documents

1 official file

Leesvertaling

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Sponsors

Related records

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Sources

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