A bill to amend the Federal Deposit Insurance Act to ensure that the reciprocal deposits of an insured depository institution are not considered to be funds obtained by or through a deposit broker, and for other purposes.

Summary

This bill amends the Federal Deposit Insurance Act to exclude reciprocal deposits of an insured depository institution from consideration as prohibited broker deposits if the total reciprocal deposits of the institution do not exceed the lesser of $10 billion or 20% of its total liabilities. Reciprocal deposits are those received by an agent institution through a deposit placement network with the same maturity (if any) and in the same aggregate amount as covered deposits placed by the agent institution in other network member banks. (Generally, an insured depository institution that is not well capitalized may not accept funds obtained by or through any deposit broker for deposit into one or more deposit accounts.)

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Timeline

1. 21 September 2016

   Introduced

   Introduced in Senate

   Source: IntroReferral

2. 21 September 2016

   Introduced

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

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 21 September 2016 · Download file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 21 September 2016

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 21 September 2016

  ViewDownloadOpen at official source

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• Introduced in Senate

  summary · EN · 21 September 2016

  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. Warner, Mark R. [D-VA] · D · Sponsor
• Sen. Moran, Jerry [R-KS] · R · Sponsor
• Sen. Heitkamp, Heidi [D-ND] · D · Cosponsor
• Sen. Boozman, John [R-AR] · R · Cosponsor
• Sen. Crapo, Mike [R-ID] · R · Cosponsor
• · ssbk00 · Standing

Related records

• related to → Retail Checking Account Protection Act of 2016
• related to → To amend the Federal Deposit Insurance Act to ensure that the reciprocal deposits of an insured depository institution are not considered to be funds obtained by or through a deposit broker, and for other purposes.