Bif Saif Funding

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ISBN 13 : 9781332256174
Total Pages : 152 pages
Book Rating : 4.2/5 (561 download)

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Download or read book The Condition of the Savings Association Insurance Fund (Saif) written by and published by . This book was released on 2015-08-05 with total page 152 pages. Available in PDF, EPUB and Kindle. Book excerpt: Excerpt from The Condition of the Savings Association Insurance Fund (Saif): Hearing Before the Committee on Banking, Housing, and Urban Affairs United State Senate, One Hundred Fourth Congress, First Session on the Difficulties Facing the Saif to Pay the Remaining Costs of the Failures and the Forthcoming Bif-Saif Premium Dis Par The subcommittee met, pursuant to notice, at 10:03 a.m., in room 2128, Rayburn House Office Building, Hon. Marge Roukema [chairwoman of the subcommittee] presiding. Present: Chairwoman Roukema, Representatives McCollum, Be-reuter, Roth, King, Royce, Lucas, Metcalf, Bono, Ehrlich, Vento, LaFalce, Mfume, Maloney, Barrett, Orton, Wynn, and Watt, Chairwoman Roukema. The hearing will come to order and the subcommittee will come to order. I might note at the beginning that we are here for a very important meeting as testified to by the overflow group of observers that we have here. And I must say that on benalf of our Republican Members, there is a Republican conference that may still be in meeting. But I would expect that other Members will be arriving, but we are going to begin in consideration of all our panelists and given the importance of the issue. The subcommittee is continuing its oversight of the financial condition of the FDIC insurance funds today and specifically the viability of the SAIF, given the proposed premium reductions for members of the Bank Insurance Fund. Members may remember, and I am sure we all do, that in March this subcommittee held 2 days of hearings on this specific subject. At that time the subcommittee heard from representatives of the Administration and the relevant regulatory agencies that the long-term viability of the SAIF might be threatened by a number of factors, including the statutory requirement that the SAIF members pay $780 million per year to pay for interest obligations on the FICO and the fact that the insurance fund deposit base had been shrinking. While the subcommittee heard a number of options on how to deal with the problem, not one solution was proffered by the Administration or the regulators at that time. Since then, a number of events have taken place which I will briefly, very briefly, review. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.