[Congressional Bills 104th Congress]
[From the U.S. Government Publishing Office]
[H.R. 1480 Introduced in House (IH)]







104th CONGRESS
  1st Session
                                H. R. 1480

 To stabilize the condition of the Savings Association Insurance Fund, 
                        and for other purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             April 7, 1995

 Mr. LaFalce introduced the following bill; which was referred to the 
              Committee on Banking and Financial Services

_______________________________________________________________________

                                 A BILL


 
 To stabilize the condition of the Savings Association Insurance Fund, 
                        and for other purposes.

    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 ``Savings Association Insurance Fund 
Stabilization Act of 1995''.

SEC. 2. 1-TIME SPECIAL SAIF CAPITALIZATION ASSESSMENT.

    Section 7(b) of the Federal Deposit Insurance Act (12 U.S.C. 
1817(b)) is amended by adding at the end the following new paragraph:
            ``(8) Special 1-time assessment to recapitalize saif.--
                    ``(A) In general.--The Corporation may, in the 
                discretion of the Board of Directors, impose a special 
                assessment on each Savings Association Insurance Fund 
                member in an amount not greater than 0.40 percent of 
                the assessment base, as of January 1, 1995, on which 
                assessments are imposed under the risk-based assessment 
                system established pursuant to paragraph (1).
                    ``(B) Deposit of assessment in saif.--The proceeds 
                of any assessment imposed under subparagraph (A) shall 
                be deposited in the Savings Association Insurance Fund.
                    ``(C) Imposition over period of years.--The 
                assessment authorized under subparagraph (A) may be 
                imposed incrementally over such period of years as the 
                Board of Directors may determine to be appropriate, 
                except the larger percentage of any such incremental 
                assessment shall be allocated to the first year of the 
                effective period for such assessment.
                    ``(D) Abatement for troubled institutions.--The 
                Board of Directors may abate any portion of any 
                assessment under this paragraph in the case of any 
                undercapitalized institution or any institution which 
                would become undercapitalized as a result of the 
                imposition of such assessment.''.

SEC. 3. AVAILABILITY OF RTC FUNDS AS BACKSTOP FOR SAIF LOSSES.

    (a) In General.--Section 11(a)(6)(F) of the Federal Deposit 
Insurance Act (12 U.S.C. 1821(a)(6)(F)) is amended in the provisions of 
such subparagraph preceding clause (i)--
            (1) by inserting ``to cover losses which have been 
        incurred, or can reasonably be expected to be incurred, by the 
        Fund'' after ``as needed by the Fund''; and
            (2) by inserting a period after ``not needed by the 
        Resolution Trust Corporation'' and striking everything that 
        follows through the end of the subparagraph.
    (b) Technical and Conforming Amendments.--
            (1) Section 11(a)(6)(F) of the Federal Deposit Insurance 
        Act (12 U.S.C. 1821(a)(6)(F)) is amended by striking ``At any 
        time before the end of the 2-year period beginning on the date 
        of the termination of the Resolution Trust Corporation,'' and 
        inserting ``At any time before the Savings Association 
        Insurance Fund first meets or exceeds the designated reserve 
        ratio applicable to such fund,''.
            (2) Section 11(a)(6)(K) of the Federal Deposit Insurance 
        Act (12 U.S.C. 1821(a)(6)(K)) is amended by striking ``to cover 
        losses incurred by the Fund'' and inserting ``to carry out the 
        purposes of this Act''.

SEC. 4. FICO PAYMENTS BY ALL FDIC-INSURED DEPOSITORY INSTITUTIONS.

    Section 21(f)(2) of the Federal Home Loan Bank Act (12 U.S.C. 
1441(f)(2)) is amended--
            (1) in the portion of such paragraph preceding subparagraph 
        (A)--
                    (A) by striking ``each Savings Association 
                Insurance Fund member'' and inserting ``each insured 
                depository institution (as defined in section 3(c)(2) 
                of the Federal Deposit Insurance Act); and
                    (B) by striking ``such member'' and inserting 
                ``such institution''; and
            (2) in subparagraph (A), by striking ``Savings Association 
        Insurance Fund members'' and inserting ``insured depository 
        institutions''.

SEC. 5. REPEAL OF MINIMUM SAIF ASSESSMENT RULE.

    Section 7(b)(2) of the Federal Deposit Insurance Act (12 U.S.C. 
1817(b)(2)) is amended by striking subparagraph (E).
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