To merge the Bank Insurance Fund and the Savings Association Insurance Fund, to require savings associations to continue to pay assessments to the Financing Corporation, and for other purposes.
Deposit Insurance Fund Merger Act of 1995 - Amends the Federal Deposit Insurance Act (FDIA) to: (1) establish the deposit insurance fund for insured depository institutions; (2) abolish the Bank Insurance Fund (BIF) and the Savings Association Insurance Fund (SAIF); (3) transfer such Funds' assets and liabilities to the deposit insurance fund; and (4) deposit into such fund all amounts assessed against insured depository institutions.
Prescribes guidelines under which the Federal Deposit Insurance Corporation (FDIC) shall keep a full and complete accounting of all costs, expenses, and receipts.
Sets forth an assessments schedule for former BIF members capped at rates applicable before the funds' merger. Repeals guidelines pertaining to the moratorium on conversion transactions and to exit fees.
Amends the Federal Home Loan Bank Act to reflect amendments made by this Act regarding payment of Financing Corporation costs by former SAIF members and their successors.
Amends the FDIA to authorize the FDIC to impose a one-time special SAIF capitalization assessment.
Introduced in House
Introduced in House
Sponsor introductory remarks on measure. (CR E855-856)
Referred to the House Committee on Banking and Financial Services.
Referred to the Subcommittee on Financial Institutions and Consumer Credit.
checking server…
Ask anything about this bill. The AI reads the full text to answer.
Enter to send · Shift+Enter for new line