Academic journal article ABA Banking Journal

102nd Congress Inherits a Familiar Banking Slate

Academic journal article ABA Banking Journal

102nd Congress Inherits a Familiar Banking Slate

Article excerpt

102nd Congress inherits a familiar banking slate

With a re-election rate better than 90%, the 102nd Congress arrived in Washington last month hardly a "new" Congress. But then, the banking issues this Congress will have to resolve aren't all that new, either.

There is, however, a new urgency to banking matters this year--and momentum for major legislation. Prime issues are reform of deposit insurance and recapitalization of the Bank Insurance Fund. But beyond these central issues could come action on issues ranging from industry restructuring and interstate banking to changes in federal regulatory structure and new products.

Many proposals, including the President's, are already on the table. Banking committee members will have a broad array of options, but the choices will not be easy, and the process will not be short. And with the first 1992 Presidential primary just ten months away, there's little time to pass such legislation.

Legislators aren't the only ones who must sort through the mountain of proposals designed to "fix" banking. Later this month ABA's Banking Leadership Conference will review the industry's strategy and fine-tune it.

Banking's message. In anticipation of an eventful year for banking, the newspapers, networks, and other media have worked overtime to keep readers and viewers informed on banking matters.

Given the scope and complexity of the issues, the media and the public need all the help they can get in understanding what's involved. ABA has worked closely with the national media to bring balance and caution to the mounting public discussion.

ABA's executive vice-president, Donald G. Ogilvie, appeared on the NBC "Today Show" recently. He told his interviewer that as debate over the Bank Insurance Fund continues, the most reliable numbers come from FDIC.

Ogilvie cautioned that it's a mistake to compare banks with S&Ls. He pointed to banks' strong capital base and solid regulation as indicators that the banking industry is far healthier than were the savings and loans of the late 1980s. …

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