A bill to regulate liabilities insured by certain banks in connection with guaranties, surety agreements, certain bank acceptances, and standby letters of credit.

[AI summary unavailable — showing source text] Adds to the limitations under the Federal Reserve Act on indebtedness of banks the limitation that they not incur liability arising from the acceptance of a time draft or from any undertaking to make or arrange a payment in the event another person fails to do so.…