Oversight Hearing on the Effect of Proposals to Reform Federal Deposit Insurance on Pension Funds: Hearing Before the Subcommittee on Labor-Management Relations of the Committee on Education and Labor, House of Representatives, One Hundred Second Congress, First Session, Hearing Held in Washington, DC, May 2, 1991, Volume 4 |
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Common terms and phrases
accounts amount BAKER bank deposits Bank Investment Contracts banking system beneficiaries benefit responsive BIC market billion BOEHNER California capital certificates of deposit Chairman WILLIAMS CIEBA Congress cost deferred compensation plans defined benefit plans defined contribution plans deposit accounts deposit instruments deposit insurance coverage deposit insurance system depositors depository institution employee benefit employee benefit plans ERISA Executive FAWELL FDIC insurance FDIC's Federal Deposit Insurance fiduciary financial institutions GEORGINE GESTELY GICs and BICs individual insurance companies insurance fund insured deposits interest rate risk Internal Revenue Code issue issuer junk bonds legislation liabilities limit managers MILLER multiemployer plans pass-through coverage pass-through deposit insurance pass-through insurance coverage PBGC pension fund pension plan participants percent plan assets plan sponsors POWELL proposal question regulations retirement risky Robert Henrikson ROUKEMA savings and loan Section 457 plan statement subcommittee taxpayers Thank thrift tion too-big-to-fail Treasury trust uninsured window withdrawals
Popular passages
Page 53 - Resolved, That the chief clerk of the assembly be hereby directed to transmit copies of this resolution to the President and Vice President of the United States...
Page 193 - Such net amount shall be determined according to such regulations as the board of directors may prescribe, and in determining the amount due to any depositor there shall be added together all deposits in the bank maintained in the same capacity and the same right for his benefit either in his own name or in the names of others, except trust funds which shall be insured as provided in paragraph (9) of subsection (h) of this section.
Page 207 - ... (B) all property and rights purchased with such amounts, and "(C) all income attributable to such amounts, property, or rights, shall remain (until made available to the participant or other beneficiary) solely the property and rights of the...
Page 194 - Notwithstanding any other provision of this section, such insurance shall be separate from and additional to that covering other deposits of the owners of such trust funds or the beneficiaries of such trust estates...
Page 122 - INSURANCE before the SUBCOMMITTEE ON LABOR-MANAGEMENT RELATIONS Of the HOUSE COMMITTEE ON EDUCATION AND LABOR on PENSION FUND IMPACT OF BANKING REFORM May 2, 1991 Statement Made By: Mr.
Page 195 - The insurance of such trust interests shall be separate from that afforded deposit accounts of the trustee of such trust funds or the settlor or beneficiary of such trust arrangement.
Page 197 - Similar authority with respect to security measures at banks would be conferred by the bill on the Federal Reserve Board, the Comptroller of the Currency and the Federal Deposit Insurance Corporation.
Page 195 - All trust interests for the same beneficiary deposited in deposit accounts established pursuant to valid trust agreements created by the same settlor (grantor) shall be added together and insured up to $100,000 in the aggregate, except time and savings deposits of the same beneficiary which qualify as pension or profit-sharing plans under section 401(d) or 408(a) of the Internal Revenue Code of 1954, as amended.
Page 53 - Resolved by the Assembly and the Senate of the State of California, jointly. That the Legislature of the State of California respectfully...
Page 101 - Moreover, the too-big-to-fail policy is also unfair between banks. This fact was brought into sharp focus in the recent disparate treatment of depositors in the National Bank of Washington and the Bank of New England, where uninsured depositors were protected, and the Freedom National Bank, a small bank in Harlem where uninsured depositors were not protected. This unequal treatment of uninsured depositors results in funds flowing out of smaller banks into larger institutions where depositors...