A bill to establish the Emergency Bank Investment Fund, and for other purposes.
Emergency Bank Investment Fund Act of 1991 - Establishes the Emergency Bank Investment Fund to make capital investments in marginally capitalized, economically viable insured banks in accordance with specified criteria for bank selection for such investment and marginally capitalized banks.
Grants borrowing authority to the Fund.
Directs the Board of Directors of the Fund to report annually to specified congressional committees on the Fund's operations.
Authorizes appropriations.
Prohibits the Fund from making or increasing any investment after five years of enactment of this Act. Requires it to adopt a plan for the complete divestment of all of its investments within ten years after such enactment.
Introduced in Senate
Read twice and referred to the Committee on Banking.
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