A joint resolution to make technical corrections in certain banking and related statutes.

Summary

Makes technical corrections to the Garn-St. Germain Depository Institutions Act of 1982. Amends the Federal Deposit Insurance Act and the National Housing Act to provide that deferral of, or exemption from, State franchise taxes on deposits during a period of federal assistance to an insured bank applies to both interest and dividends paid on such deposits. Amends the Home Owner's Loan Act of 1933 to permit the Federal Home Loan Bank Board to examine savings banks that convert to Federal charter but maintain Federal Deposit Insurance Corporation insurance. Amends the Federal Deposit Insurance Act to provide that the preference for minority controlled institutions involved in extraordinary acquisitions applies to both commercial banks and thrifts. States that certain sunset provisions shall not apply to outstanding net worth certificates. Amends the Home Owners' Loan Act of 1933 to allow savings and loan associations to open demand accounts for themselves. Amends the Depository Institutions Deregulation Act of 1980 to declare that money market deposit accounts in all depository institutions will not be subject to the phase-in of certain reserve requirements under the Monetary Control Act of 1980. Amends the Home Owners' Loan Act of 1933 to grant savings and loan associations a five percent construction lending authority. Amends the Federal Home Loan Bank Act to allow banks that withdrew from membership in the Federal Home Loan System to be readmitted. Permits bankers' banks to provide services to depository institutions and their holding companies. Provides that the relocation of a bank's headquarters within community limits does not necessitate shareholder approval. States that name approval by the Comptroller of the Currency is not required when a State bank converts to a Federal charter so long as the name contains the word 'national'. Provides that a State as well as a State official can declare holidays for national banks. Amends the Bank Holding Company Act of 1956 to provide that the limitations on life insurance activities are applicable to small bank holding companies and their subsidiaries. States that the student loan exemption from truth-in-lending provisions applies to loans made on the date of enactment of the Garn-St. Germain Depository Institutions Act of 1982. Amends the Bank Service Corporation Act to revise the provisions relating to bank service corporations owned by national banks performing the same services a national bank may perform. Amends the National Housing Act to apply provisions concerning the suspension or removal of officials to savings banks that become insured by the Federal Deposit Insurance Corporation.

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Documents

5 official files

• Public Law (PDF)

  Public Law · EN · 13 January 1983

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• Passed House amended

  summary · EN · 21 December 1982

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• Passed Senate amended

  summary · EN · 16 December 1982

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• Reported to Senate with amendment(s)

  summary · EN · 16 December 1982

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• Introduced in Senate

  summary · EN · 13 December 1982

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