Federal Deposit Insurance Corporation Improvement Act


Also found in: Wikipedia.

Federal Deposit Insurance Corporation Improvement Act

Commonly abbreviated FIDCIA. Legislation in the United States, passed in 1991, that allowed the FDIC to borrow from the United States Treasury in order to save or to liquidate savings and loan associations that were deemed to be in danger of insolvency. It required the FDIC to handle these S&Ls in the least expensive way possible. See also: Bailout Bond.
References in periodicals archive ?
The Federal Deposit Insurance Corporation Improvement Act of 1991 (FDICIA) was passed in response to the need for congressional appropriations to fund deposit insurance losses in the thrift industry in 1989 and predictions that another appropriation would soon be needed to cover deposit insurance losses in the banking industry.
The FTC was delayed more than a decade in writing regulations implementing section 43 of the Federal Deposit Insurance Corporation Improvement Act of 1991 because, after passing the bill, Congress refused to fund enforcement of it.
Several banking laws coming out of the savings and loan scandals of the late 1980s were savaged by the banking community as overkill; at least one, the Federal Deposit Insurance Corporation Improvement Act (FDICIA), was commonly sneered at as "the lawyers' full employment act.
The Federal Deposit Insurance Corporation Improvement Act of 1991 mandated that FDIC insurance premiums be risk-adjusted.
1821(e)(8)), or a netting contract between financial institutions under sections 401-407 of the Federal Deposit Insurance Corporation Improvement Act of 1991 (12 U.
Some of these proposals suggest using subordinated-debt yield spreads to supplement capital ratios as triggers for the prompt corrective action provisions of the Federal Deposit Insurance Corporation Improvement Act.
The appendixes are particularly useful, including a reasonably comprehensive glossary, a historical perspective on audit committees, a discussion of Section 182 of the Business Corporations Act from Ontario, Canada, a commentary on the Foreign Corrupt Practices Act Amendments, a copy of the Federal Deposit Insurance Corporation Improvement Act, an excerpt from The Code of Best Practice, a copy of the Model Business Corporation Act--Chapter 8: Directors and Officers, an excellent example of a code of business conduct, the codes of professional conduct of the AICPA, the Institute of Internal Auditors, and the Association of Certified Fraud Examiners.
The directive is issued under the authority granted to the OTS by the Federal Deposit Insurance Corporation Improvement Act ("FDICIA") due to the current designation of the bank by the OTS as an "under capitalized" institution.
Although the Federal Deposit Insurance Corporation Improvement Act of 1991 took a few steps in this direction, it did not address a number of critical areas.
Few are familiar with the process, aside from those whose insured-depository-institution clients were mandated to do so by the Federal Deposit Insurance Corporation Improvement Act of 1991.
Regulatory capital at the time soon began to mean nothing to the market, and, as a consequence, the Congress in the Federal Deposit Insurance Corporation Improvement Act of 1991 ordered the banking agencies to follow Generally Accepted Accounting Principles (GAAP) whenever possible.

Full browser ?