Federal Deposit Insurance Amendments Act of 1995

TABLE OF CONTENTS:

Title I: Bank Insurance Fund and Savings Association

Insurance Fund

Title II: Merger of OCC and OTS

Subtitle A: Federal Bank Agency

Subtitle B: Interim Provisions; Transfer of Functions,

Personnel, and Property

Subtitle C: Regulatory and Supervisory Responsibility

Subtitle D: Reorganization of FDIC Board of Directors

Title III: Merger of Bank and Thrift Charters

Federal Deposit Insurance Amendments Act of 1995 - Title I: Bank Insurance Fund and Savings Association Insurance Fund - Amends the Federal Deposit Insurance Act (FDIA) to refund to members of the Bank Insurance Fund and the Savings Association Insurance Fund, the amount by which actual reserves exceed the balance required to meet the designated reserve applicable to either Fund.

(Sec. 102) Amends the FDIA and the Federal Home Loan Bank Act (FHLBA) to provide that interest earned on the balance in any deposit insurance fund shall be available for transfer to the Financing Corporation.

Amends the FHLBA to revise the Financing Corporation's authority to assess each insurance fund member to cover an interest shortfall.

(Sec. 103) Amends the FDIA to repeal the certification required to transfer unneeded Resolution Trust Corporation (RTC) funds in order to pay for SAIF losses.

(Sec. 104) Provides for the merger of the BIF and the SAIF after each has achieved its designated reserve ratio.

Title II: Merger of OCC and OTS - Subtitle A: Federal Bank Agency - Establishes an independent Federal Bank Agency (FBA) to supervise national banks, savings associations District banks, and any Federal branch or agency of a foreign bank. Authorizes the FBA Administrator to impose and collect charges from any entity for which the Administrator is the appropriate Federal banking agency.

Subtitle B: Interim Provisions; Transfer of Functions, Personnel, and Property - Sets forth interim provisions to transfer to the FBA Administrator the functions, staff, and property of the Comptroller of the Currency and of the Office of Thrift Supervision.

(Sec. 212) Abolishes the Office of Thrift Supervision and the Office of the Comptroller of the Currency.

Subtitle C: Regulatory and Supervisory Responsibility - Transfers to the FBA Administrator all powers and duties that were vested in the Director of the Office of Thrift Supervision and in the Comptroller of the Currency.

(Sec. 222) Amends the Bank Holding Company Act of 1956 to transfer the regulation of savings and loan holding companies from the Director of OTS to the Board of Governors of the Federal Reserve System.

Subtitle D: Reorganization of FDIC Boards of Directors - Amends the Federal Deposit Insurance Act to reduce the membership on the FDIC Board of Directors from five to three.

Title III: Merger of Bank and Thrift Charters - Directs the Secretary of the Treasury to study and report to the Congress on the most feasible means to consolidate national bank and savings association charters into a unified charter for depository institutions.

(Sec. 302) Provides for: (1) the conversion of savings associations to banks after the merger of the BIF and SAIF; and (2) the subsequent termination of deposit insurance for savings associations. Repeals the Home Owners' Loan Act subsequent to such conversion.