DIDMCA
E781032
DIDMCA is the commonly used acronym for the Depository Institutions Deregulation and Monetary Control Act, a 1980 U.S. law that significantly reshaped banking regulation and Federal Reserve authority.
Statements (50)
| Predicate | Object |
|---|---|
| instanceOf |
United States federal statute
ⓘ
banking law ⓘ |
| acronymFor | Depository Institutions Deregulation and Monetary Control Act NERFINISHED ⓘ |
| affects |
commercial banks
ⓘ
credit unions ⓘ mutual savings banks ⓘ savings and loan associations ⓘ |
| alsoKnownAs | Monetary Control Act of 1980 NERFINISHED ⓘ |
| amends |
Federal Deposit Insurance Act
NERFINISHED
ⓘ
Federal Reserve Act NERFINISHED ⓘ Home Owners' Loan Act NERFINISHED ⓘ National Housing Act NERFINISHED ⓘ |
| authorizes |
Negotiable Order of Withdrawal accounts
ⓘ
nationwide NOW accounts ⓘ |
| codifiedIn | United States Statutes at Large NERFINISHED ⓘ |
| country |
United States of America
ⓘ
surface form:
United States
|
| creates | Depository Institutions Deregulation Committee NERFINISHED ⓘ |
| effect |
increased Federal Reserve authority over monetary aggregates
ⓘ
liberalization of deposit interest rate rules ⓘ reduced regulatory distinctions among types of depository institutions ⓘ |
| enactedBy | 96th United States Congress NERFINISHED ⓘ |
| expands | access of depository institutions to Federal Reserve services ⓘ |
| extends | Federal Reserve reserve requirements to nonmember depository institutions ⓘ |
| fullName | Depository Institutions Deregulation and Monetary Control Act of 1980 NERFINISHED ⓘ |
| grantsAuthorityTo |
Board of Governors of the Federal Reserve System
NERFINISHED
ⓘ
Federal Reserve Banks NERFINISHED ⓘ |
| historicalContext | enacted during late 1970s and early 1980s financial deregulation wave in the United States ⓘ |
| jurisdiction |
United States government
ⓘ
surface form:
United States federal government
|
| phasesOut | Regulation Q interest rate ceilings on deposit accounts NERFINISHED ⓘ |
| phasesOutOverPeriod | six years ⓘ |
| policyArea |
banking and financial institutions regulation
ⓘ
monetary policy and inflation ⓘ |
| primarySubject |
banking regulation
ⓘ
financial deregulation ⓘ monetary policy ⓘ |
| provides | for uniform reserve requirements for all depository institutions ⓘ |
| publicLawNumber | Public Law 96-221 NERFINISHED ⓘ |
| purpose |
to deregulate interest rates on deposits
ⓘ
to extend Federal Reserve services to more depository institutions ⓘ to improve monetary control ⓘ |
| regulates | depository institutions ⓘ |
| relatedTo |
Federal Reserve reserve requirement policy
ⓘ
Garn–St. Germain Depository Institutions Act of 1982 NERFINISHED ⓘ Regulation Q NERFINISHED ⓘ |
| requires | all depository institutions to meet Federal Reserve reserve requirements on transaction accounts ⓘ |
| shortName | Depository Institutions Deregulation and Monetary Control Act NERFINISHED ⓘ |
| signedBy | Jimmy Carter ⓘ |
| signingDate | 1980-03-31 ⓘ |
| titleContains | Monetary Control Act NERFINISHED ⓘ |
| yearEnacted | 1980 ⓘ |
Referenced by (1)
Full triples — surface form annotated when it differs from this entity's canonical label.