H.R.5043 - Bank Lending Stimulus Act102nd Congress (1991-1992)
|Sponsor:||Rep. Kennedy, Joseph P., II [D-MA-8] (Introduced 04/30/1992)|
|Committees:||House - Banking, Finance, and Urban Affrs|
|Latest Action:||House - 05/15/1992 Referred to the Subcommittee on Financial Institutions Supervision, Regulation and Insurance. (All Actions)|
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Text: H.R.5043 — 102nd Congress (1991-1992)All Information (Except Text)
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Introduced in House
HR 5043 IH 102d CONGRESS 2d Session H. R. 5043 To reduce and standardize the leverage limit capital standard applicable to qualified banks on a temporary basis to stimulate the economy by encouraging bank lending to small and medium-sized businesses and to consumers. IN THE HOUSE OF REPRESENTATIVES April 30, 1992 Mr. KENNEDY introduced the following bill; which was referred to the Committee on Banking, Finance and Urban Affairs A BILL To reduce and standardize the leverage limit capital standard applicable to qualified banks on a temporary basis to stimulate the economy by encouraging bank lending to small and medium-sized businesses and to consumers. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the `Bank Lending Stimulus Act'. SEC. 2. REDUCTION AND STANDARDIZATION OF LEVERAGE LIMIT CAPITAL STANDARD APPLICABLE TO QUALIFIED BANKS. (a) IN GENERAL- In the case of any adequately capitalized insured bank, the appropriate Federal banking agency may not impose or enforce, during the 18-month period beginning on the date of the enactment of this Act, any leverage limit with respect to such bank which requires a ratio of tangible equity to total assets greater than 3 percent. (b) EXCEPTION- Subsection (a) shall not apply with respect to an insured bank which the appropriate Federal banking agency determines-- (1) lacks sufficient loan loss reserves; or (2) is operating in an unsafe or unsound manner. (c) DEFINITIONS- For purposes of this section-- (1) ADEQUATELY CAPITALIZED- The term adequately capitalized has the meaning given to such term in section 38(b)(1)(B) of the Federal Deposit Insurance Act. (2) APPROPRIATE FEDERAL BANKING AGENCY- The term `appropriate Federal banking agency' has the meaning given to such term in section 3(q) of the Federal Deposit Insurance Act. (3) INSURED BANK- The term `insured bank' has the meaning given such term in section 3(h) of the Federal Deposit Insurance Act. (4) LEVERAGE LIMIT- The term `leverage limit' means the capital standard relating to the minimum ratio of leverage capital to total assets established by the appropriate Federal banking agency pursuant to section 38(c)(1)(A)(i) of the Federal Deposit Insurance Act.