Federal Deposit Insurance Corporation Improvement Act of 1991

Federal Deposit Insurance Corporation Improvement Act of 1991
Other short titles
  • Foreign Bank Supervision Enhancement Act of 1991
  • Qualified Thrift Lender Reform Act of 1991
  • Truth in Savings Act
Long title An Act to reform Federal deposit insurance, protect the deposit insurance funds, recapitalize the Bank Insurance Fund, improve supervision and regulation of insured depository institutions, and for other purposes.
Nicknames Bank Enterprise Act of 1991
Enacted by the 102nd United States Congress
Effective December 19, 1991
Public law 102-242
Statutes at Large 105 Stat. 2236
Titles amended 12 U.S.C.: Banks and Banking
U.S.C. sections amended 12 U.S.C. ch. 16 § 1811
Legislative history
  • Introduced in the Senate as S. 543 by Donald W. Riegle, Jr. (D-MI) on March 5, 1991
  • Committee consideration by Senate Banking, Housing, and Urban Affairs
  • Passed the Senate on November 21, 1991 (passed voice vote)
  • Passed the House on November 23, 1991 (passed voice vote)
  • Reported by the joint conference committee on November 27, 1991; agreed to by the House on November 27, 1991 (agreed voice vote) and by the Senate on November 27, 1991 (68-15)
  • Signed into law by President George H.W. Bush on December 19, 1991
Major amendments
Dodd–Frank Wall Street Reform and Consumer Protection Act
Economic Growth, Regulatory Relief and Consumer Protection Act

The Federal Deposit Insurance Corporation Improvement Act of 1991 (FDICIA), passed during the savings and loan crisis in the United States, strengthened the power of the Federal Deposit Insurance Corporation.

It allowed the FDIC to borrow directly from the Treasury department and mandated that the FDIC resolve failed banks using the least costly method available. It also ordered the FDIC to assess insurance premiums according to risk and created new capital requirements.

See also

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