S 1680 · 97th Congress · Finance and Financial Sector
Banking Affiliates Act
Bill Progress
✓
Introduced2
Committee3
Senate Vote4
House5
EnactedLatest: Committee on Banking received executive comment from Federal Deposit Insurance Corporation. Favorable.(1981-11-18)
Plain Language Summary
[AI summary unavailable — showing source text]
Banking Affiliates Act - Amends the Federal Reserve Act to revise restrictions on transactions between member banks and affiliates by allowing any member bank and its subsidiaries to engage in specified transactions with, or for the benefit of an affiliate, if each transaction is made at fair market value and if the aggregate amount of covered transactions does not exceed stated limits. Prohibits a member bank and its subsidiaries from purchasing any low quality assets.…
Summarized by Claude AI · Non-partisan · For informational purposes only