[Congressional Bills 105th Congress]
[From the U.S. Government Publishing Office]
[S. 2270 Introduced in Senate (IS)]







105th CONGRESS
  2d Session
                                S. 2270

To amend the Federal Deposit Insurance Act with respect to raising the 
 level of the Deposit Insurance Fund reserve ratio and with respect to 
         refunds of excess assessments, and for other purposes.


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                   IN THE SENATE OF THE UNITED STATES

                              July 7, 1998

 Mr. Faircloth introduced the following bill; which was read twice and 
    referred to the Committee on Banking, Housing, and Urban Affairs

_______________________________________________________________________

                                 A BILL


 
To amend the Federal Deposit Insurance Act with respect to raising the 
 level of the Deposit Insurance Fund reserve ratio and with respect to 
         refunds of excess assessments, 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 ``Bank Insurance Fund Rebate Act of 
1998''.

SEC. 2. REFUNDS OF EXCESS ASSESSMENTS.

    Section 7(e)(2) of the Federal Deposit Insurance Act (12 U.S.C. 
1817(e)(2)) is amended--
            (1) in subparagraph (B), by striking ``The amount'' and 
        inserting ``Subject to subparagraph (D), the amount''; and
            (2) by adding at the end the following:
                    ``(D) Limitation on excess balance in fund.--
                Subparagraph (B) does not apply in any case in which 
                the amount of actual reserves in the subject deposit 
                insurance fund exceeds a reserve ratio of 1.5 
                percent.''.
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