Deposit Insurance Funds Flexibility Act of 1990

Summary

Deposit Insurance Funds Flexibility Act of 1990 - Amends the Federal Deposit Insurance Act to direct the Federal Deposit Insurance Corporation (FDIC) to set assessment rates for insured depository institutions at such times as the FDIC determines in its sole discretion to be appropriate. (Currently such rates must be set annually.) Directs the FDIC to announce any assessment rate changes at least 30 days before the effective date. Eliminates the maximum percentage threshold for the designated reserve ratio. Authorizes the FDIC to determine an assessment rate for Bank Insurance Fund members and Savings Association Insurance Fund members which is appropriate to maintain the statutory designated reserve ratio (or to restore the reserve ratio to the designated reserve ratio within a reasonable time after taking into account certain considerations). Specifies a minimum assessment rate. Permits semiannual assessments. Changes from mandatory to discretionary the authority of the FDIC to prescribe an assessment credit to Bank Insurance Fund members and Savings Association Insurance Fund members if the reserve ratio is expected to exceed the designated reserve ratio for the succeeding year. Authorizes the FDIC to obtain financing through the sale of obligations to the Federal Financing Bank.

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

Timeline

No timeline events have been ingested for this record yet.

Votes

No vote records are attached yet.

Versions

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

Documents

2 official files

• Introduced in Senate (text)

  Introduced in Senate · EN

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 24 September 1990

  Open at official source

Sponsors

No sponsors or actors listed by the source.

Related records

No cross-record relationships stored yet.