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 House
Introduced in House
Referred to House Committee on The Judiciary.
Referred to Subcommittee on Financial Institutions Supervision, Regulation and Insurance.
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