A bill to amend section 23A of the Federal Reserve Act to revise the restrictions on transactions between banks and their affiliates.
Banking Affiliates Act - Amends the Federal Reserve Act to revise restrictions on transactions between member banks and affiliates by allowing any member bank and its subsidiaries to engage in specified transactions with, or for the benefit of an affiliate, if each transaction is made at fair market value and if the aggregate amount of covered transactions does not exceed stated limits.
Prohibits a member bank and its subsidiaries from purchasing any low quality assets.
Introduced in Senate
Referred to Senate Committee on Banking, Housing and Urban Affairs.
checking server…
Ask anything about this bill. The AI reads the full text to answer.
Enter to send · Shift+Enter for new line