H.R. 6659 · 110th Congress
Equal Treatment of Covered Bonds Act of 2008
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Never voted on. It didn't reach a floor vote before the 110th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
GarrettSponsor4 cosponsors · 4 R
0 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Equal Treatment of Covered Bonds Act of 2008 - Amends the Federal Deposit Insurance Act to include a covered bond as a qualified financial contract with an insured depository institution, if it was entered into before appointment of the Federal Deposit Insurance Corporation (FDIC) as receiver for the institution, where a person has the right to cause the…
What it does: CRS summary · Introduced in House · Jul 30, 2008
Equal Treatment of Covered Bonds Act of 2008 - Amends the Federal Deposit Insurance Act to include a covered bond as a qualified financial contract with an insured depository institution, if it was entered into before appointment of the Federal Deposit Insurance Corporation (FDIC) as receiver for the institution, where a person has the right to cause the contract's termination, liquidation, or acceleration upon such an appointment.
Defines such a bond as a nondeposit recourse debt obligation of an insured depository institution, with a term to maturity of at least one year, which is secured by specifically identified assets which are performing in accordance with the terms of the contracts which created the assets.
Declares federal banking agency regulations inapplicable to any covered bond unless they are prescribed jointly by the Secretary of the Treasury, the Board of Governors of the Federal Reserve System, the Comptroller of the Currency, the Director of the Office of Thrift Supervision, and the Board of Directors of the FDIC.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Equal Treatment of Covered Bonds Act of 2008
Latest action (Jul 30, 2008): Referred to the House Committee on Financial Services.
Policy area: Finance and Financial Sector · Origin: House · Introduced: Jul 30, 2008
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.