Federal Deposit Insurance Corporation Improvement Act of 1991
|Other short title(s)||
|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.|
|Nickname(s)||Bank Enterprise Act of 1991|
|Enacted by the||102nd United States Congress|
|Effective||December 19, 1991|
|Stat.||105 Stat. 2236|
|Title(s) amended||12 U.S.C.: Banks and Banking|
|U.S.C. section(s) amended||12 U.S.C. ch. 16 § 1811|
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.
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