H.J.Res. 175 · 104th Congress · enacted
Deposit Insurance Funds Act of 1996
Became Public Law No: 104-131.
Latest official action 1996-04-24 · Enacted
The bill, briefly
TABLE OF CONTENTS: Title I: Continuing Appropriations Title II: Deposit Insurance Funds Title I: Continuing Appropriations - Amends the Balanced Budget Downpayment Act, I to extend its title I and title II provisions by one day, from April 24 to April 25, 1996. Title II: Deposit Insurance Funds - Deposit Insurance Funds Act of 1996 - Directs the Board of Directors of the Federal Deposit Insurance Corporation (FDIC) to impose a special assessment on the Savings Association Insurance Fund (SAIF)-assessable deposits of each insured depository institution at a rate applicable to all such institutions that the Board, in its sole discretion, determines will cause the SAIF to achieve the designated reserve ratio on the first business day of the first month beginning after the date of enactment of this Act. Allows the Board to exempt weak institutions from such assessment. Mandates exemption from such assessment for certain newly chartered and other specified institutions, but requires such institutions to pay semiannual assessments at certain former rates during calendar years 1996 through 1999. (Sec. 202) Authorizes certain institutions facing hardship as a result of the special assessment to elect to pay it in two assessments, plus a third supplemental special assessment, determined according to specified formulae. Prescribes adjustments of the special assessment for Bank Insurance…
Congressional Research Service · 1996-04-23
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Amount spent specifically on this bill: not disclosed
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Politicians behind the bill
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What happened after enactment?
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