Makes technical corrections to the Garn-St. Germain Depository Institutions Act of 1982. Amends the Federal Deposit Insurance Act and the National Housing Act to provide that deferral of, or exemption from, State franchise taxes on deposits during a period of Federal assistance to an insured bank applies to both interest and dividends paid on such deposits.
Amends the Home Owner's Loan Act of 1933 to permit the Federal Home Loan Bank Board to examine savings banks that convert to Federal charter but maintain Federal Deposit Insurance Corporation insurance.
States that certain sunset provisions shall not apply to outstanding net worth certificates.
Amends the Home Owners' Loan Act of 1933 to allow savings and loan associations to open demand accounts for themselves.
Amends the Depository Institutions Deregulation Act of 1980 to declare that money market deposit accounts in all depository institutions will not be subject to the phase-in of certain reserve requirements under the Monetary Control Act of 1980.
Amends the Home Owners' Loan Act of 1933 to grant savings and loan associations a five percent construction lending authority.
Amends the Federal Home Loan Bank Act to allow banks that withdrew from membership in the Federal Home Loan System to be readmitted.
Provides that the relocation of a bank's headquarters within community limits does not necessitate shareholder approval.
States that name approval by the Comptroller of the Currency is not required when a State bank converts to a Federal charter so long as the name contains the word "national."
Allows that a State as well as a State official can declare holidays for national banks.
Amends the Bank Holding Company Act of 1956 to provide that the limitations on life insurance activities are applicable to small bank holding companies and their subsidiaries.
States that the student loan exemption from truth-in-lending provisions applies to loans made on the date of enactment of the Garn-St. Germain Depository Institutions Act of 1982.
Amends the Bank Service Corporation Act to allow that bank service corporations owned by national banks may perform the same services a national bank may perform.
Amends the National Housing Act to apply provisions concerning the suspension or removal of officials to savings banks that become insured by the Federal Deposit Insurance Corporation.
Introduced in Senate
Read twice and referred to the Committee on Banking.
Committee on Banking. Ordered to be reported with an amendment in the nature of a substitute favorably.
Committee on Banking. Reported to Senate by Senator Garn with an amendment in the nature of a substitute. Without written report.
Committee on Banking. Reported to Senate by Senator Garn with an amendment in the nature of a substitute. Without written report.
Passed/agreed to in Senate: Passed Senate with an amendment by Voice Vote.
Passed Senate with an amendment by Voice Vote.
Called up by House by Unanimous Consent.
Passed/agreed to in House: Passed House (Amended) by Unanimous Consent.
Passed House (Amended) by Unanimous Consent.
Resolving differences -- Senate actions: Senate agreed to the House amendments. By Voice Vote.
Senate agreed to the House amendments. By Voice Vote.
Enacted as Public Law 97-457
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Measure Signed in Senate.
Presented to President.
Presented to President.
Signed by President.
Signed by President.
Became Public Law No: 97-457.
Became Public Law No: 97-457.