The Federal Deposit Insurance Corporation Improvement Act of 1991 (FDICIA), passed during the Savings and loan crisis, 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.
|
Famous quotes containing the words federal, deposit, insurance, corporation, improvement and/or act:
“The proposed Constitution ... is, in strictness, neither a national nor a federal constitution; but a composition of both.”
—James Madison (1751–1836)
“A real life, a life that leaves a deposit in the shape of something alive.... It’s difficult to say what makes a life a real life.... You could also say it depends on a person being identical with himself.”
—Max Frisch (1911–1991)
“Women hock their jewels and their husbands’ insurance policies to acquire an unaccustomed shade in hair or crêpe de chine. Why then is it that when anyone commits anything novel in the arts he should be always greeted by this same peevish howl of pain and surprise? One is led to suspect that the interest people show in these much talked of commodities, painting, music, and writing, cannot be very deep or very genuine when they so wince under an unexpected impact.”
—John Dos Passos (1896–1970)
“It is truly enough said that a corporation has no conscience; but a corporation of conscientious men is a corporation with a conscience.”
—Henry David Thoreau (1817–1862)
“We are more thoroughly an enlightened people, with respect to our political interests, than perhaps any other under heaven. Every man among us reads, and is so easy in his circumstances as to have leisure for conversations of improvement and for acquiring information.”
—Benjamin Franklin (1706–1790)
“The soul, which is the first principle of life, is not a body, but the act of a body; just as heat, which is the principle of calefaction, is not a body, but an act of a body.”
—Thomas Aquinas (c. 1225–1274)