Agricultural and Energy Bank Incentive Act

Summary

Agricultural and Energy Bank Incentive Act - Amends the Federal Deposit Insurance Act to require the appropriate Federal banking agency to: (1) permit an insured agricultural or energy bank to account for troubled debt restructuring according to generally accepted accounting principles by not requiring a change in the recorded investment unless the investment exceeds total, reasonably anticipated, future receipts given the new terms of the loan; (2) establish a program of capital standard forbearance for such an insured bank for which capital reduction is largely attributable to problems in the agricultural or energy sectors of the economy; and (3) implement call report requirements for renegotiated loans which authorize such loans to be disclosed as "restructured and in compliance with modified terms." Prohibits a national banking association from holding real estate under mortgage or purchased to secure debts for longer than ten years with no extension (currently, five years with a five-year extension if approved by the Comptroller of the Currency). Directs the Comptroller of the Currency to establish new lending limits for banks covered by the capital standard forbearance program. Prohibits such a lending limitation from exceeding 20 percent of the unimpaired capital and unimpaired surplus of the lending institution. Amends the Garn-St Germain Depository Institutions Act of 1982 to extend the Deposit Insurance Flexibility Act and the Net Worth Certificate Act until July 15, 1986. Creates a moratorium on the establishment of nonbank banks until July 15, 1986.

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Timeline

1. 25 March 1986

   Reported

   Committee on Banking ordered to be reported an original measure.

   Source: Committee

2. 26 March 1986

   Calendars

   Placed on Senate Legislative Calendar under General Orders. Calendar No. 579.

   Source: Calendars

3. 26 March 1986

   Reported

   Committee on Banking. Original measure reported to Senate by Senator Garn. Without written report.

   Source: Committee

4. 26 March 1986

   Reported

   Committee on Banking. Original measure reported to Senate by Senator Garn. Without written report.

   Source: Committee

5. 26 March 1986

   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 · 26 March 1986

  Open at official source

Sponsors

• Sen. Garn, E. J. (Jake) [R-UT] · R · Sponsor
• Sen. Nickles, Don [R-OK] · R · Sponsor
• Sen. Zorinsky, Edward [D-NE] · D · Cosponsor
• · ssbk00 · Standing

Related records

• amends ← SAMDT 1719
• amends ← To provide for the restructuring of agricultural loans.