Garn–St Germain Depository Institutions Act of 1982

E481389

United States federal statute banking deregulation law

The Garn–St Germain Depository Institutions Act of 1982 was a major U.S. banking deregulation law that expanded the powers of depository institutions and loosened restrictions on interest rates and mortgage lending.

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All labels observed (1)

Label	Occurrences
Garn–St Germain Depository Institutions Act of 1982 canonical	2

Statements (48)

Predicate	Object
instanceOf	United States federal statute ⓘ banking deregulation law ⓘ
administeredBy	Federal Deposit Insurance Corporation NERFINISHED ⓘ Federal Home Loan Bank Board NERFINISHED ⓘ National Credit Union Administration NERFINISHED ⓘ Office of the Comptroller of the Currency NERFINISHED ⓘ
amends	Federal Deposit Insurance Act NERFINISHED ⓘ Federal Home Loan Bank Act NERFINISHED ⓘ Home Owners’ Loan Act NERFINISHED ⓘ National Housing Act NERFINISHED ⓘ
containsProvision	authorization of money market deposit accounts ⓘ creation of Net Worth Certificate program for troubled institutions ⓘ preemption of certain state due-on-sale restrictions on mortgages ⓘ
country	United States of America ⓘ surface form: United States
dateSigned	1982-10-15 ⓘ
effect	allowed adjustable-rate mortgages for federally related mortgage loans ⓘ contributed to risk-taking by savings and loan institutions ⓘ expanded lending powers of thrift institutions ⓘ increased competition among depository institutions ⓘ reduced restrictions on commercial lending by thrifts ⓘ
enactedBy	97th United States Congress NERFINISHED ⓘ
fullTitle	Garn–St Germain Depository Institutions Act of 1982 NERFINISHED ⓘ
historicalContext	part of U.S. financial deregulation in the late 1970s and early 1980s ⓘ
jurisdiction	United States government ⓘ surface form: United States federal government
namedAfter	Fernand St. Germain NERFINISHED ⓘ Jake Garn NERFINISHED ⓘ
primarySponsor	Fernand St. Germain NERFINISHED ⓘ Jake Garn NERFINISHED ⓘ
publicLawNumber	Public Law 97-320 NERFINISHED ⓘ
purpose	to deregulate savings and loan associations ⓘ to expand the powers of depository institutions ⓘ to loosen restrictions on mortgage lending ⓘ to phase out interest rate ceilings on deposit accounts ⓘ to provide emergency assistance to troubled depository institutions ⓘ
regulates	credit unions ⓘ federally insured banks ⓘ savings and loan associations ⓘ savings banks ⓘ
relatedTo	Depository Institutions Deregulation and Monetary Control Act of 1980 NERFINISHED ⓘ Savings and loan crisis ⓘ
shortTitle	Garn–St Germain Act NERFINISHED ⓘ
signedBy	Ronald Reagan NERFINISHED ⓘ
subjectMatter	banking regulation ⓘ depository institutions ⓘ interest rate deregulation ⓘ mortgage lending ⓘ savings and loan associations ⓘ
yearEnacted	1982 ⓘ

Referenced by (2)

Full triples — surface form annotated when it differs from this entity's canonical label.

Regulation Q → phasedOutBy → Garn–St Germain Depository Institutions Act of 1982 ⓘ

Depository Institutions Deregulation and Monetary Control Act → isRelatedTo → Garn–St Germain Depository Institutions Act of 1982 ⓘ