3.0.0 3052 2023-01-11T13:16:15Z 2023-01-11T13:16:15Z Senate S S 2010-03-01 111 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Standing Referred to 2010-03-01T21:05:10Z 2010-03-01 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. IntroReferral 2010-03-01 Introduced in Senate IntroReferral 10000 9 Library of Congress M000639 Sen. Menendez, Robert [D-NJ] Robert Menendez D NJ N Finance and Financial Sector Bank accounts, deposits, capital Banking and financial institutions regulation Commodities markets Credit and credit markets Financial services and investments Government trust funds Interest, dividends, interest rates Securities Finance and Financial Sector 00 2010-03-01 Introduced in Senate 2010-04-05T18:58:21Z Ending Taxpayer Bailouts by Making Wall Street Pay Act of 2010 - Establishes the Systemic Resolution Fund, to be administered by the Federal Deposit Insurance Corporation (FDIC), to: (1) cover the costs of the FDIC, including as receiver, in exercising its rights, authorities, and powers, and in fulfilling its obligations and responsibilities; (2) repay initial capitalization appropriations; and (3) cover the costs of systemic stabilization purposes.

Prohibits the use of amounts in the Fund to convert or maintain a financial company that is insolvent or in receivership, except to the extent necessary to insure systemic stabilization in the company's resolution.

Requires all amounts assessed against a financial company under this Act to be deposited into the Fund.

Directs the FDIC to: (1) impose assessments on financial companies for Fund maintenance and, if need be, replenishment; and (2) establish a mechanism whereby the systemic risk regulator reallocates annually the assessments for the Fund among all the systemically risky financial companies.

Prohibits the FDIC from imposing an assessment on any financial company which it determines does not pose a systemic risk to the U.S. financial system.

]]> Ending Taxpayer Bailouts by Making Wall Street Pay Act of 2010 Display Title Ending Taxpayer Bailouts by Making Wall Street Pay Act of 2010 Official Title as Introduced A bill to address the establishment and maintenance of the Systemic Resolution Fund of the Federal Deposit Insurance Corporation, and for other purposes. Introduced in Senate IS Short Titles as Introduced Ending Taxpayer Bailouts by Making Wall Street Pay Act of 2010 Introduced in Senate 2010-03-01T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-111s3052is/xml/BILLS-111s3052is.xml 2010-03-01 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.