To merge the Bank Insurance Fund and the Savings Association Insurance Fund, to improve funding for 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 the guidelines pertaining to 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 all FDIC-insured depository institutions.
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, E857)
Referred to the House Committee on Banking and Financial Services.
Referred to the Subcommittee on Financial Institutions and Consumer Credit.
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