Federal Deposit Insurance Improvements Act of 1983

Summary

Federal Deposit Insurance Improvements Act of 1983 - Amends the Federal Deposit Insurance Act to allow any appointive director of the Federal Deposit Insurance Corporation to serve in office after the expiration of his term until his successor has been appointed and qualified. Permits the Corporation to set the assessment credit for any insured bank on the basis of the risks that the bank may present to the Permanent Insurance Fund. Grants the Corporation enforcement powers over national and State member banks. Authorizes the Board of Directors of the Corporation to charge reasonable fees for the examinations of banks. Broadens the definition of "affiliate" to include subsidiaries of insured banks. Requires the Corporation serve as a receiver for all closed insured banks. Sets priorities for payment of claims against the estate of a failed bank. States that the Corporation as receiver of a closed insured bank shall not be required to furnish bond and shall have the right to appoint agents to assist it in its duties as such receiver. Eliminates the requirement that banking agencies must seek reports from the Comptroller of the Currency and the Board of Governors of the Federal Reserve System. Requires the agencies to request such reports from the Attorney General. Drops the requirement that the Corporation must approve domestic bank branches in advance.

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Timeline

1. 16 November 1983

   Introduced

   Read twice and referred to the Committee on Banking.

   Source: IntroReferral

2. 16 November 1983

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

1 official file

• Introduced in Senate

  summary · EN · 16 November 1983

  Open at official source

Sponsors

• Sen. Garn, E. J. (Jake) [R-UT] · R · Sponsor
• Sen. Proxmire, William [D-WI] · D · Sponsor
• · ssbk00 · Standing

Related records

• related to → Federal Deposit Insurance Improvements Act of 1983