To require the lowest possible cost resolution with respect to any insured depository institution and the implementation of limits on reimbursement for loss to uninsured portions of deposits.
Federal Uninsured Deposits Limitations Act of 1991 - Amends the Federal Deposit Insurance Act to prohibit the Federal Deposit Insurance Corporation (FDIC) from taking certain actions except to satisfy its obligations to insured depositors at the lowest cost possible to the affected deposit insurance Fund. Includes among such actions expending money from either the Bank Insurance Fund or Savings Association Insurance Fund or assuming or guaranteeing any liability.
Prohibits the FDIC from committing itself to specified financial assistance which would have the effect of preventing loss to depositors on the uninsured portion of their deposits.
Directs the General Accounting Office to audit annually FDIC compliance with this Act.
Introduced in House
Introduced in House
Referred to the House Committee on Banking, Finance + Urban Affrs.
Referred to the Subcommittee on Financial Institutions Supervision, Regulation and Insurance.
checking server…
Ask anything about this bill. The AI reads the full text to answer.
Enter to send · Shift+Enter for new line