Derivatives Limitations Act of 1994

Summary

Derivatives Limitations Act of 1994 - Amends the Federal Deposit Insurance Act and the Federal Credit Union Act to prohibit an insured depository institution or credit union (including its affiliates) from engaging in any transaction for its own account which involves derivative financial instruments. Exempts from this prohibition specified transactions conducted in compliance with certain Federal banking agency regulations. Directs the Federal banking agencies to promulgate regulations governing such exceptions, including conspicuous public disclosure by affiliates that their assets and the risk of loss associated with derivatives transactions are neither federally insured nor guaranteed by the affiliate's parent company. Amends the Bank Holding Company Act of 1956 to permit a subsidiary of a bank holding company to engage in derivatives transactions for its account if: (1) it is neither an insured depository institution nor a subsidiary of one; and (2) it is separately capitalized from any affiliated insured depository institution.

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3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 17 May 1994

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• Introduced in Senate (PDF)

  Introduced in Senate · EN · 17 May 1994

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• Introduced in Senate

  summary · EN · 17 May 1994

  Open at official source

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