To amend provisions of the National Consumer Cooperative Bank Act relating to the payment of interest on and the redemption of class A notes issued by the National Consumer Cooperative Bank.
National Consumer Cooperative Bank Amendments of 1989 - Amends the National Consumer Cooperative Bank Act to provide that the holder of class A notes shall be entitled to interest rates determined by the Secretary of the Treasury, taking into consideration the current average yield on comparable outstanding marketable U.S. obligations as of the last day of the month preceding each issuance of such notes to the Secretary. Limits interest payments until 1990 to 25 percent of gross revenues.
Authorizes the Bank to issue replacement class A notes with the Secretary's approval. Mandates that all class A notes be redeemed by October 31, 2020.
Referred to the House Committee on Banking, Finance + Urban Affrs.
Committee on Banking, Finance + Urban Affrs discharged.
Committee on Banking, Finance + Urban Affrs discharged.
Considered by unanimous consent.
Mr. Gonzalez asked unanimous consent to discharge from committee and consider.
Passed/agreed to in House: On passage Passed without objection.
On passage Passed without objection.
Motion to reconsider laid on the table Agreed to without objection.
Received in the Senate, read twice.
Message on Senate action sent to the House.
Passed/agreed to in Senate: Passed Senate without amendment by Voice Vote.
Passed Senate without amendment by Voice Vote.
Measure Signed in Senate.
Referred to the Subcommittee on Financial Institutions Supervision, Regulation and Insurance.
Presented to President.
Presented to President.
Signed by President.
Signed by President.
Became Public Law No: 101-206.
Became Public Law No: 101-206.
Enacted as Public Law 101-206
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