S. 1508 — A bill to allow United States banks which establish international banking facilities to compete on equal terms with foreign banks establishing such facilities, thereby enhancing the position of the United States in the international financing markets.

Summary

Amends the Federal Deposit Insurance Act to declare that any international banking facility deposit, including an international banking facility time deposit, shall not be a deposit for any of the purposes of such Act or be included as part of total deposits of an insured deposit of a bank insured under such Act.

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Legislative Actions

1981-07-22
Introduced in Senate
1981-07-22
Read second time and referred to Senate Committee on Banking.
1981-08-03
Committee on Banking requested executive comment from Federal Reserve System; Federal Deposit Insurance Corporation; Comptroller of the Currency.
1981-09-29
Committee on Banking received executive comment from Comptroller of the Currency. Favorable.
1981-10-09
Committee on Banking received executive comment from Federal Deposit Insurance Corporation. Favorable.

A bill to allow United States banks which establish international banking facilities to compete on equal terms with foreign banks establishing such facilities, thereby enhancing the position of the United States in the international financing markets.

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