Federal Deposit Insurance Corporation Improvement Act

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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 legislation, the Federal Deposit Insurance Corporation Improvement Act of 1991, contained provisions intended to discourage Federal Reserve lending to depositories that do not meet minimum capital standards.
The remaining restrictions include those required under the mandatory provisions of the Federal Deposit Insurance Corporation Improvement Act of 1991 (FDICIA), including restrictions on dividends and other capital distributions, asset growth, expansion of operations and activities and compensation of senior executive officers.
The last two points are particularly important to insured depository institutions subject to the Federal Deposit Insurance Corporation Improvement Act of 1991.
Throughout this process, the risk-based capital standard, reinforced by the prompt corrective action provisions required by the Congress in the Federal Deposit Insurance Corporation Improvement Act of 1991 (FDICIA), served to guide managerial and supervisory actions and highlighted the benefits of being well capitalized.
For instance, selective rollback of the Federal Deposit Insurance Corporation Improvement Act of 1991 (FDICIA) would help curb the regulators' inclination toward micromanagement of community banks.
The Federal Deposit Insurance Corporation Improvement Act of 1991 requires banking institutions with assets of over $150 million to have audit committees made up entirely of outside directors independent of management.
A single federal regulator would effectively end the dual banking system: It would become an empty shell if a state-chartered entity had no choice of federal regulator or--reflecting a recent Federal Deposit Insurance Corporation Improvement Act of 1991 (FDICIA) provision--different asset powers.
Even before implementation of the Federal Deposit Insurance Corporation Improvement Act of 1991 (FDICIA), compliance costs were a drag on the community banking industry and its customers.
As a result, one of the provisions of the Federal Deposit Insurance Corporation Improvement Act of 1991, signed into law by the president last December, is elimination of the retroactive impact of Lampf.
The Financial Institutions Reform, Recovery and Enforcement Act of 1989 contains the 1989 amendments to HMDA; the Federal Deposit Insurance Corporation Improvement Act of 1991 contains the 1991 amendments.
Congress must repeal burdensome provisions of the Federal Deposit Insurance Corporation Improvement Act of 1991 (FDICIA), he said, and restore prudent character lending.
The expansion in coverage of mortgage companies came with FIRREA and with the amendments to HMDA in the Federal Deposit Insurance Corporation Improvement Act of 1991.

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