Federal Deposit Insurance Act
E155077
The Federal Deposit Insurance Act is a U.S. law that establishes federal deposit insurance for bank customers and sets the framework for regulating and resolving insured depository institutions.
All labels observed (1)
| Label | Occurrences |
|---|---|
| Federal Deposit Insurance Act canonical | 16 |
Statements (48)
| Predicate | Object |
|---|---|
| instanceOf |
United States federal statute
ⓘ
banking law ⓘ |
| administeredBy | Federal Deposit Insurance Corporation ⓘ |
| amendedBy |
Dodd–Frank Wall Street Reform and Consumer Protection Act
ⓘ
Federal Deposit Insurance Corporation Improvement Act of 1991 ⓘ Financial Institutions Reform, Recovery, and Enforcement Act of 1989 ⓘ Gramm-Leach-Bliley Act of 1999 ⓘ
surface form:
Gramm–Leach–Bliley Act
|
| appliesTo |
commercial banks
ⓘ
insured branches of foreign banks in the United States ⓘ savings associations ⓘ |
| authorizes |
Federal Deposit Insurance Corporation
ⓘ
surface form:
FDIC to act as receiver for failed insured depository institutions
FDIC to examine insured depository institutions ⓘ FDIC to provide financial assistance to troubled insured institutions under certain conditions ⓘ FDIC to take enforcement actions against unsafe or unsound banking practices ⓘ |
| codifiedIn | Title 12 of the United States Code ⓘ |
| codifiedSections | 12 U.S.C. § 1811 et seq. ⓘ |
| containsProvision |
prompt corrective action framework
ⓘ
regulation of interest rates on certain deposits (historically) ⓘ restrictions on brokered deposits ⓘ restrictions on transactions with affiliates ⓘ |
| country |
United States of America
ⓘ
surface form:
United States
|
| creates | Federal Deposit Insurance Corporation ⓘ |
| dateEnacted | 1933-06-16 ⓘ |
| defines |
categories of insured deposits
ⓘ
deposit insurance coverage limits ⓘ grounds for termination of deposit insurance ⓘ standards for unsafe or unsound banking practices ⓘ |
| effectiveDate | 1934-01-01 ⓘ |
| enactedBy | United States Congress ⓘ |
| establishes |
Deposit Insurance Fund
ⓘ
surface form:
FDIC Deposit Insurance Fund
|
| jurisdiction | federal jurisdiction of the United States ⓘ |
| language | English ⓘ |
| partOf | New Deal legislation ⓘ |
| policyArea |
bank regulation
ⓘ
consumer financial protection (for depositors) ⓘ financial stability ⓘ |
| primaryPurpose |
establish federal deposit insurance for bank deposits
ⓘ
promote stability and confidence in the U.S. banking system ⓘ provide framework for regulation of insured depository institutions ⓘ provide framework for resolution of failed insured depository institutions ⓘ |
| regulates | insured depository institutions ⓘ |
| relatedTo |
Bank Holding Company Act of 1956
ⓘ
Federal Reserve Act of 1913 ⓘ
surface form:
Federal Reserve Act
National Banking Act of 1863 ⓘ
surface form:
National Bank Act
|
| requires |
assessment of insurance premiums on insured institutions
ⓘ
maintenance of adequate deposit insurance reserves ⓘ |
| shortName | FDIA ⓘ |
| signedBy |
President Franklin D. Roosevelt
ⓘ
surface form:
Franklin D. Roosevelt
|
Referenced by (16)
Full triples — surface form annotated when it differs from this entity's canonical label.
Federal Deposit Insurance Corporation Improvement Act of 1991
→
amends
→
Federal Deposit Insurance Act
ⓘ
Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994
→
amends
→
Federal Deposit Insurance Act
ⓘ
Chairman of the Federal Deposit Insurance Corporation
→
legalBasis
→
Federal Deposit Insurance Act
ⓘ
subject surface form:
Riegle-Neal Interstate Banking and Branching Efficiency Act of 1994