legislation: 100-s-1653

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bill_id congress bill_type bill_number title policy_area introduced_date latest_action_date latest_action_text origin_chamber sponsor_name sponsor_state sponsor_party sponsor_bioguide_id cosponsor_count summary_text update_date url
100-s-1653 100 s 1653 Junk Bond Limitation Act of 1987 Finance and Financial Sector 1987-08-07 1987-08-07 Read twice and referred to the Committee on Banking. Senate Sen. Domenici, Pete V. [R-NM] NM R D000407 0 Junk Bond Limitation Act of 1987 - Amends the Federal Deposit Insurance Act to prohibit an insured bank from investing in noninvestment grade securities the proceeds of which will be used to purchase or carry margin securities if such an investment would be prohibited for a similarly situated national bank. Prohibits an insured bank from investing in noninvestment grade securities if its primary capital is less than six percent of its total assets. Amends the National Housing Act to prohibit an insured institution from investing in noninvestment grade securities the proceeds of which will be used to purchase or carry margin securities if such an investment would be prohibited for a similarly situated Federal savings and loan association. Prohibits an insured institution from investing in noninvestment grade securities if its primary capital is less than six percent of its total assets. Amends the Securities Exchange Act of 1934 to apply the margin restrictions prescribed by the Federal Reserve Board to any lender that purchases any debt securities by a shell corporation the proceeds of which will be used to purchase or carry margin stock in the context of a tender offer or any acquisition of securities which would require the filing of a report under the Securities Exchange Act of 1934. 2025-08-28T20:05:50Z  

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