H.R.1171 - State Thrift Deposit Insurance Premium Act of 1991102nd Congress (1991-1992)
|Sponsor:||Rep. Wolpe, Howard E. [D-MI-3] (Introduced 02/27/1991)|
|Committees:||House - Banking, Finance, and Urban Affairs|
|Latest Action:||House - 03/15/1991 Referred to the Subcommittee on Financial Institutions Supervision, Regulation and Insurance. (All Actions)|
This bill has the status Introduced
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Summary: H.R.1171 — 102nd Congress (1991-1992)All Information (Except Text)
Introduced in House (02/27/1991)
State Thrift Deposit Insurance Premium Act of 1991 - 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 (SAIF) 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. Mandates that the premium paid by high-risk States into the SAIF shall be available to pay the thrift resolution costs incurred by the FSLIC Resolution Fund or the Resolution Trust Corporation, as appropriate.