Interstate Banking Efficiency Act of 1993

TABLE OF CONTENTS:

Title I: Interstate Banking and Branching

Title II: CRA Evaluations

Interstate Banking Efficiency Act of 1993 - Title I: Interstate Banking and Branching - Amends the Bank Holding Company Act of 1956 to prescribe guidelines under which the Federal Reserve Board may approve applications by bank holding companies or foreign banks to acquire voting shares or interests in additional insured depository institutions or banking holding companies located in any State (State law to the contrary notwithstanding).

Amends Federal banking law to prescribe guidelines under which the Comptroller of the Currency may approve applications by adequately capitalized and adequately managed national banks to acquire and operate interstate branches. Authorizes the States, by a specified deadline, to: (1) either permit or prohibit interstate branching by national or State banks; and (2) set conditions upon such branching.

Amends the Federal Deposit Insurance Act (FDIA) to set forth parameters under which adequately capitalized and adequately managed insured State banks may engage in interstate branching. Permits the States to coordinate their bank examination and regulatory activities.

Amends the International Banking Act of 1978 to prescribe guidelines under which foreign banks may establish interstate banking operations.

Amends the Bank Holding Company Act of 1956 and specified Federal banking law to authorize the interstate consolidation or merger of bank holding company subsidiary banks, subject to prescribed guidelines. Conditions Federal Reserve Board approval of such consolidation upon submission by the applicant of a plan for meeting the credit needs of the local communities served by the merger.

Sets forth capitalization requirements for new interstate banking and branching activities.

Requires Federal banking regulatory agencies to prescribe regulations which: (1) prohibit any person from engaging in interstate branching primarily for the purpose of deposit production; (2) include guidelines to ensure that each interstate branch meets the credit needs of its local community and market area; and (3) restrict the ratio of out-of-State loans by interstate branches.

Amends Federal banking law to authorize State regulatory agencies to review the records of Federal depository institutions for State tax compliance purposes.

Title II: CRA Evaluations - Amends the Community Reinvestment Act of 1977 to require the appropriate Federal financial supervisory agency to prepare written State-by-State evaluations of the performance records of financial institutions with interstate branches.