A bill to regulate liabilities insured by certain banks in connection with guaranties, surety agreements, certain bank acceptances, and standby letters of credit.

Summary

Adds to the limitations under the Federal Reserve Act on indebtedness of banks the limitation that they not incur liability arising from the acceptance of a time draft or from any undertaking to make or arrange a payment in the event another person fails to do so.

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

Timeline

1. 22 August 1974

   Introduced

   Referred to Senate Committee on Banking, Housing and Urban Affairs.

   Source: IntroReferral

2. 22 August 1974

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

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Versions

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Documents

1 official file

• Introduced in Senate

  summary · EN · 22 August 1974

  Open at official source

Sponsors

• Sen. Brooke, Edward W. [R-MA] · R · Sponsor
• · ssbk00 · Standing

Related records

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