Savings and Financial Equality Act of 1980

Savings and Financial Equality Act of 1980 - Title I: Elimination of Interest Ceilings - Prohibits any differential between the interest rates payable by federally insured banks and thrifts on any type of deposit or account authorized or modified after February 19, 1980. Defines "modification" to include only a one percent change in the interest rate payable on any deposit or account authorized prior to December 31, 1975. Permits the establishment of a differential if the Congress approves a written request of the Board of Governors of the Federal Reserve System, the Board of Directors of the Federal Deposit Insurance Corporation, or the Federal Home Loan Bank Board. Prohibits any interest rate differential between federally insured banks (other than savings banks) and savings banks having capital stock which are affiliated with insured banks (other than savings banks).

Extends the authority of the regulatory agencies to set maximum interest rates on deposits and accounts (Regulation Q) until December 15, 1985. Directs the regulators to increase interest rates on savings deposits by one-half percent within one year. Requires the regulators, through December 31, 1985, to establish equitable interest rate ceilings on time and savings deposits with a view toward elimination of such ceilings on certificates of deposit and a lowering of minimum denominations.

Empowers the regulators to proscribe rules governing the advertisement of interest rates after the lapse of Regulation Q on December 15, 1985.

Title II: Savings and Loan Association Amendments - Amends the Home Owners' Loan Act of 1933 to empower Federal savings and loan associations to engage in consumer lending and transactions involving commercial paper, corporate debt securities, and bankers acceptances.

Authorizes the Federal Home Loan Bank Board to permit Federal savings and loan associations to engage in fiduciary activities if not prohibited by State law. Sets forth provisions governing the exercise of such trust powers.

Authorizes any State savings and loan association to convert to a Federal charter if it has never existed in mutual form.

Imposes a liquidity requirement on Federal savings and loan associations and federally insured associations prescribed by the Board at a rate between four and ten percent of an association's withdrawable accounts and borrowings payable on demand or within one year. Authorizes the Board to prescribe comparable bases for institutions operating as insurance companies. Directs that liquidity requirements be maintained in the form of cash, deposits at Federal Home Loan Banks and commercial banks, government securities, bankers acceptances, and certain investment company securities.

Permits Federal savings and loan associations to issue mutual capital certificates under regulation of the Board. Includes such certificates in computation of the reserves required to be against insured accounts.

Title III: Mutual Savings Bank Amendments - Authorizes Federal mutual savings banks to make loans and investments without regard to limitations imposed by Federal and State law. Limits such investments to 20 percent of a bank's assets. Requires 65 percent of such investments to be made within the State where a bank is located or within 50 miles of such State. Phases in such increased investment authority over three years. Authorizes the Federal Home Loan Bank Board to lengthen or shorten such period by two years.

Authorizes Federal mutual savings banks to accept deposits from any source. Empowers the Board to phase-in such authority provided savings banks are permitted to accept demand deposits by January 1, 1990, or at an earlier date when interest rate controls are effectively eliminated.

Title IV: Federal Deposit Insurance Amendments - Increases Federal deposit insurance on accounts in financial institutions to $60,000 per account.

Title V: Effective Date - Sets forth the effective date for the provisions of this Act.