A bill that would modernize the Federal Home Bank System was officially laid to rest Tuesday, but Rep. Richard H. Baker predicted the measure would be approved by Congress next year.

"I am confident that our bill will pass with overwhelming bipartisan support in the 105th Congress," the Louisiana Republican said in a statement Tuesday. An aide to Rep. Baker said time simply ran out on the Enterprise Resource Bank Act this year.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.