HR 8872
Transparency in Federal Home Loan Bank Membership Act of 2020
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Sign in to take action- Introduced
- Passed House
- Passed Senate
- To President
- Became Law
Bill overview
This bill, the Transparency in Federal Home Loan Bank Membership Act of 2020, allows captive insurance companies to apply for membership in the Federal Home Loan Bank System. To qualify, the parent company of the captive insurance company must meet specific investment and capital requirements, including a minimum percentage of assets invested in residential mortgages and adherence to capital standards similar to those for insured banks. The bill also mandates ongoing reporting and requires a study on the potential impact of expanding membership within the Federal Home Loan Bank System.
Sponsors
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Primary sponsor
Trey Hollingsworth
Cosponsor
Denny Heck
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