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.

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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
Amendment 383 — Informed