Federal Deposit Insurance Corporation Improvement Act

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 ?
In response to the banking and thrift problems of the 1980s, Congress enacted several pieces of legislation, culminating in the Federal Deposit Insurance Corporation Improvement Act of 1991.
In point of fact, the bank closing rate did not decline significantly until after the implementation of the various provisions of FDICIA, the Federal Deposit Insurance Corporation Improvement Act of 1991 (Benston and Kaufman 1997; Cebula 1996, 1999).
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 adjusted for risk.
They include a glossary; an historical perspective on Audit Committees; the Foreign Corrupt Practices Act Amendments, the Federal Deposit Insurance Corporation Improvement Act, and the Model Business Corporation Act; an excerpt from The Committee on Corporate Governance's The Code of Best Practice; the executive summary for COSO's Internal Control-Integrated Framework-Volume 1; and broad guidelines for an example of a code of business conduct.
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.
This role was legislated in the Federal Deposit Insurance Corporation Improvement Act of 1991.

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