S. 955 (102nd): State Thrift Deposit Insurance Premium Act of 1991

Introduced:
Apr 25, 1991 (102nd Congress, 1991–1992)
Status:
Died (Referred to Committee)
Sponsor
William Cohen
Senator from Maine
Party
Republican
Related Bills
H.R. 1171 (identical)

Referred to Committee
Last Action: Feb 27, 1991

 
Status

This bill was introduced on April 25, 1991, in a previous session of Congress, but was not enacted.

Progress
Introduced Apr 25, 1991
Referred to Committee Apr 25, 1991
 
Full Title

A bill to amend the Federal Deposit Insurance Act to require States in which the failure of State savings associations has involved a disproportionately large share of the thrift resolution costs, including costs incurred by the Resolution Trust Corporation, to pay a State thrift deposit insurance premium as a condition of future Federal deposit insurance.

Summary

No summaries available.

Cosponsors
1 cosponsors (1R) (show)
Committees

Senate Banking, Housing, and Urban Affairs

The committee chair determines whether a bill will move past the committee stage.

 
Primary Source

THOMAS.gov (The Library of Congress)

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Notes

S. stands for Senate bill.

A bill must be passed by both the House and Senate in identical form and then be signed by the president to become law.

The bill’s title was written by its sponsor.

GovTrack’s Bill Summary

We don’t have a summary available yet.

Library of Congress Summary

The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.


4/25/1991--Introduced.
State Thrift Deposit Insurance Premiums Act of 1991 - Amends the Federal Deposit Insurance Act to direct the Federal Deposit Insurance Corporation to determine and apportion among the States the cumulative cost of Federal assistance provided to State-chartered savings associations for case resolutions.
Declares as "high risk" any State whose share of State resolution costs exceeds twice its share of 1980 State deposits.
Mandates that each high risk State pay to the Savings Association Insurance Fund (SAIF) prescribed premiums reflecting such risk.
Sets forth insurance termination procedures if a State fails to pay the required premium.
Requires depositor notification of such insurance termination.
Mandates that the premium paid by high-risk States into the SAIF shall be available to pay the thrift resolution costs incurred by the FSLIC Resolution Fund or the Resolution Trust Corporation, as appropriate.

House Republican Conference Summary

The summary below was written by the House Republican Conference, which is the caucus of Republicans in the House of Representatives.


No summary available.

House Democratic Caucus Summary

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