Amendment97th Congress
Amendments en bloc to 1) limit to mutual savings banks and savings banks, instead of banks in general, the provisions dealing with bank acquisitions and mergers under the FDIC and 2) to require the FSLIC to give "equal consideration" to the "need to minimize financial assistance required of the Corporation" with the order of kinds of mergers authorized in the bill when considering such bids. The bill had specified "paramount consideration". Also, subordinate transactions may not be authorized when bids have been received which are equal to or greater than reasonable estimates of the cost of liquidation to the Corporation.
- Amendment Number
- 383
- Description
- Amendments en bloc to 1) limit to mutual savings banks and savings banks, instead of banks in general, the provisions dealing with bank acquisitions and mergers under the FDIC and 2) to require the FSLIC to give "equal consideration" to the "need to minimize financial assistance required of the Corporation" with the order of kinds of mergers authorized in the bill when considering such bids. The bill had specified "paramount consideration". Also, subordinate transactions may not be authorized when bids have been received which are equal to or greater than reasonable estimates of the cost of liquidation to the Corporation.
- Purpose
- Amendments en bloc to 1) limit to mutual savings banks and savings banks, instead of banks in general, the provisions dealing with bank acquisitions and mergers under the FDIC and 2) to require the FSLIC to give "equal consideration" to the "need to minimize financial assistance required of the Corporation" with the order of kinds of mergers authorized in the bill when considering such bids. The bill had specified "paramount consideration". Also, subordinate transactions may not be authorized when bids have been received which are equal to or greater than reasonable estimates of the cost of liquidation to the Corporation.
- Congress
- 97
- Type
- HAMDT
- Latest Action Date
- Oct 28, 1981
- Latest Action Text
- Amendment Passed in Committee of the Whole by Voice Vote.
- Submitted Date
- Oct 28, 1981
- Chamber
- House of Representatives
- Update Date
- Aug 14, 2021