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.
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.
Referred to the Subcommittee on Financial Institutions Supervision, Regulation and Insurance.
Introduced in Senate
Read twice and referred to the Committee on Banking.
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