Derivatives Limitations Act of 1995

Summary

Derivatives Limitations Act of 1995 - Amends the Federal Deposit Insurance Act to prohibit an insured depository institution (and any affiliate) from engaging in any transaction involving a derivative financial instrument either for its own account, or that of an affiliate. Permits exceptions for: (1) hedging transactions; (2) a separately capitalized affiliate (not itself an insured depository insitution) of an insured depository institution; and (3) transactions involving de minimis interest in derivative financial instruments sanctioned by a Federal banking regulatory agency. Requires the appropriate Federal banking agency to promulgate rules governing such exceptions. Amends the Federal Credit Union Act to prohibit an insured credit union and any affiliates from engaging in derivative financial instruments transactions. Subjects credit unions and their affiliates to the interstate bank merger provisions of the Federal Deposit Insurance Act. Amends the Bank Holding Company Act of 1956 to allow a bank holding company subsidiary to engage in derivative financial instrument transactions for its own account if it: (1) is not an insured depository institution or a subsidiary of one; and (2) is separately capitalized from any affiliated insured depository institution. Subjects bank holding companies to the interstate bank merger provisions of the Federal Deposit Insurance Act.

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3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 15 March 1995

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• Introduced in Senate (PDF)

  Introduced in Senate · EN · 15 March 1995

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• Introduced in Senate

  summary · EN · 15 March 1995

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