An amendment that would create a "Core Banking" system, in which banks or thrifts receiving federal deposit insurance would be subject to limitations on the interest rates they could pay depositors and on the amount they could lend to any single borrower. Certain federally insured banks or thrifts could pay higher interest rates than marginally-capitalized institutions, with the interest caps for both tied to specified market rates.

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Amendment Number
375
Description
An amendment that would create a "Core Banking" system, in which banks or thrifts receiving federal deposit insurance would be subject to limitations on the interest rates they could pay depositors and on the amount they could lend to any single borrower. Certain federally insured banks or thrifts could pay higher interest rates than marginally-capitalized institutions, with the interest caps for both tied to specified market rates.
Purpose
Amendment sought to create a "Core Banking" system, in which banks or thrifts receiving federal deposit insurance would be subject to limitations on the interest rates they could pay depositors and on the amount they could lend to any single borrower.
Congress
102
Type
HAMDT
Latest Action Date
Oct 31, 1991
Latest Action Text
On agreeing to the Schumer amendment (A002) Failed by recorded vote: 106 - 312 (Roll no. 361).
Latest Action Time
15:40:43
Submitted Date
Oct 31, 1991
Chamber
House of Representatives
Update Date
Jun 7, 2021
Amendment 375 — Informed