H.R.5323 - State Thrift Deposit Insurance Premium Act of 1990101st Congress (1989-1990)
|Sponsor:||Rep. Wolpe, Howard E. [D-MI-3] (Introduced 07/19/1990)|
|Committees:||House - Banking, Finance, and Urban Affairs|
|Latest Action:||House - 08/01/1990 Referred to the Subcommittee on Financial Institutions Supervision, Regulation and Insurance. (All Actions)|
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Summary: H.R.5323 — 101st Congress (1989-1990)All Information (Except Text)
Introduced in House (07/19/1990)
State Thrift Deposit Insurance Premium Act of 1990 - Amends the Federal Deposit Insurance Act to direct the Federal Deposit Insurance Corporation to determine and apportion among the States the cumulative cost of Federal assistance provided to State-chartered savings associations for case resolutions. Declares as "high risk" any State whose share of State resolution costs exceeds twice its share of 1980 State deposits.
Mandates that each high risk State pay to the Savings Association Insurance Fund prescribed premiums reflecting such risk. Sets forth insurance termination procedures if a State fails to pay the required premium. Requires depositor notification of such insurance termination.