Financial Assistance to Institutions Reform Act of 1991 (FAIR ACT)

Summary

Financial Assistance to Institutions Reform Act of 1991 (FAIR Act) - Directs the Secretary of the Treasury to implement an emergency loan assistance program to provide financial institution assistance loans to qualified States. Limits the Secretary's maximum borrowing authority and the maximum amount of loans which may be made to any one State. Limits participation to States in which: (1) the depositors are precluded from accessing their funds in institutions in States in which one-third or more of the financial institutions have become simultaneously insolvent; and (2) the Governor has declared a bank holiday due to the insolvency of a non-Federal deposit insurance fund. Sets forth guidelines for loan repayment.

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Documents

2 official files

• Introduced in Senate (text)

  Introduced in Senate · EN

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 6 February 1991

  Open at official source

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