Safe and Fair Deposit Insurance Act of 2002

Summary

Safe and Fair Deposit Insurance Act of 2002 - Mandates that the Bank Insurance Fund and the Savings Association Insurance Fund be merged into the Deposit Insurance Fund (DIF) established by this Act. Amends the Federal Deposit Insurance Act (FDIA) to establish the DIF. Mandates that all assessments against insured depository institutions by the Federal Deposit Insurance Corporation (FDIC) be deposited into the DIF. Authorizes the Federal Deposit Insurance Corporation (FDIC) to borrow from the Federal home loan banks funds necessary for DIF use. Deposit Insurance Reform Act of 2002 - Amends the FDIA to: (1) prohibit an undercapitalized insured depository institution from accepting employee benefit plan deposits; (2) increase the amount of Federal insurance coverage (including an inflation adjustment); and (3) include retirement accounts and municipal deposits within such coverage. Requires the FDIC Board of Directors, before the beginning of each calendar year, to designate the reserve ratio applicable to the DIF. Prohibits the Board from modifying its information collection requirements if such modification is done solely to change assessment risk classifications and results in placing greater regulatory or reporting burdens upon an insured depository institution. Allows credits based upon past contributions to the DIF.

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

Timeline

1. 14 February 2002

   Introduced

   Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

   Source: IntroReferral

2. 14 February 2002

   Introduced

   Sponsor introductory remarks on measure. (CR S854)

   Source: IntroReferral

3. 14 February 2002

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 14 February 2002 · Download file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 14 February 2002

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 14 February 2002

  ViewDownloadOpen at official source

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• Introduced in Senate

  summary · EN · 14 February 2002

  Open at official source

  Leesvertaling

  Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

• Sen. Johnson, Tim [D-SD] · D · Sponsor
• Sen. Hagel, Chuck [R-NE] · R · Sponsor
• Sen. Reed, Jack [D-RI] · D · Sponsor
• Sen. Enzi, Michael B. [R-WY] · R · Sponsor
• Sen. Cochran, Thad [R-MS] · R · Cosponsor
• Sen. Allard, Wayne [R-CO] · R · Cosponsor
• Sen. Stabenow, Debbie [D-MI] · D · Cosponsor
• Sen. Bayh, Evan [D-IN] · D · Cosponsor
• Sen. Inouye, Daniel K. [D-HI] · D · Cosponsor
• Sen. Durbin, Richard J. [D-IL] · D · Cosponsor
• Sen. Breaux, John B. [D-LA] · D · Cosponsor
• Sen. Dayton, Mark [D-MN] · D · Cosponsor
• Sen. Cleland, Max [D-GA] · D · Cosponsor
• Sen. Dorgan, Byron L. [D-ND] · D · Cosponsor
• Sen. Conrad, Kent [D-ND] · D · Cosponsor
• Sen. Torricelli, Robert G. [D-NJ] · D · Cosponsor
• Sen. Landrieu, Mary L. [D-LA] · D · Cosponsor
• Sen. Hollings, Ernest F. [D-SC] · D · Cosponsor
• Sen. Nelson, Ben [D-NE] · D · Cosponsor
• · ssbk00 · Standing

Related records

• related to → Federal Deposit Insurance Reform Act of 2002