[Congressional Bills 107th Congress]
[From the U.S. Government Publishing Office]
[H.R. 1293 Introduced in House (IH)]







107th CONGRESS
  1st Session
                                H. R. 1293

  To amend the Federal Deposit Insurance Act to ensure the continued 
stability of the Federal deposit insurance system with respect to banks 
           and savings associations, and for other purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             March 29, 2001

Mr. Ney (for himself, Mrs. Jones of Ohio, Mr. Gillmor, Mr. LaTourette, 
 and Mr. Jones of North Carolina) introduced the following bill; which 
          was referred to the Committee on Financial Services

_______________________________________________________________________

                                 A BILL


 
  To amend the Federal Deposit Insurance Act to ensure the continued 
stability of the Federal deposit insurance system with respect to banks 
           and savings associations, 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 ``Deposit Insurance Stabilization 
Act''.

SEC. 2. MERGER OF THE DEPOSIT INSURANCE FUNDS.

    Subsection (c) of section 2704 of the Deposit Insurance Funds Act 
of 1996 (12 U.S.C. 1821 nt.) is amended to read as follows:
    ``(c) Effective Date.--This section and the amendments made by this 
section shall take effect at the end of the 60-day period beginning on 
the date of the enactment of the Deposit Insurance Stabilization 
Act.''.

SEC. 3. ASSESSMENTS TO MAINTAIN DESIGNATED RESERVE RATIO.

    (a) In General.--Section 5(d) of the Federal Deposit Insurance Act 
(12 U.S.C. 1815(d)(1)) (as amended by section 2704(d)(14)(D) of the 
Deposit Insurance Funds Act of 1996 effective in accordance with the 
amendment made by section 2 of this Act) is amended by adding at the 
end the following new paragraph:
            ``(4) Net increase in new deposits.--In the case of any 
        insured depository institution that experiences a net increase 
        in new insured deposits in excess of such percentage as the 
        Corporation may determine to be appropriate during the most 
        recent semiannual assessment period, the Board of Directors may 
        impose a fee on the depository institution in the manner 
        provided under paragraph (1) with respect to the amount of such 
        net increase in new insured deposits.''.
    (b) Effective Date.--The amendment made by subsection (a) shall 
take effect at the end of the 60-day period beginning on the date of 
the enactment of this Act.

SEC. 4. REPEAL OF MINIMUM ASSESSMENTS TO RECAPITALIZE THE DEPOSIT 
              INSURANCE FUND.

    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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