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Topic: Federal Deposit Insurance Corporation


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In the News (Tue 1 Dec 09)

  
  Federal Deposit Insurance Corporation. The Columbia Encyclopedia, Sixth Edition. 2001-05
The corporation was established in 1933 to prevent a repetition of the losses incurred during the Great Depression when bankrupt banks could not return the money deposited in them.
The FDIC provides coverage for deposits in national banks, in state banks that are members of the Federal Reserve System, and in other qualified state banks.
Since 1989 the FDIC has supervised the Savings Association Insurance Fund, the agency that was created to provide coverage for savings and loan associations when the Federal Savings and Loan Insurance Corporation became insolvent.
www.bartleby.com /65/fe/FedD.html   (255 words)

  
  Federal Deposit Insurance Corporation - Wikipedia, the free encyclopedia   (Site not responding. Last check: 2007-10-10)
Deposit insurance received its first large-scale test in the late 1980s and early 1990s during the Savings and loan crisis, with mixed results.
Deposit insurance for SandLs was hastily shored up by the government, which created new regulations and transferred SandL deposit insurance to a branch of the FDIC.
On the other hand, deposit insurance itself and the way in which bank regulators managed bank failures was, from the point of view of bank depositors, a total success.
www.encyclopedia-online.info /FDIC   (895 words)

  
 Federal Deposit Insurance Corporation as supplied by EagleTraders.com
For insurance purposes, the official custodian of public funds is considered to be the depositor, not the public unit; he is entitled to insurance upon such funds deposited in an insured bank and maintained in the same right and capacity to the maximum of $100,000.
The corporation receives the unacceptable assets from the closed bank in accordance with (1) a loan agreement under which the assets are considered collateral, or (2) a purchase agreement under which the assets are sold to the corporation and may, in some cases, be reacquired by the closed bank.
The corporation liquidates the unacceptable assets and retains the proceeds in reimbursement of the amount advanced to the closed bank, in reimbursement of expenses incurred in connection with the maintenance and liquidation of the assets, and in payment of interest or allowable return on the unliquidated advances and accumulated expenses.
www.eagletraders.com /advice/securities/federal_deposit_insurance_cor.htm   (2279 words)

  
 Federal Deposit Insurance Corporation - Wikipedia, the free encyclopedia
The total of all deposits in all 9,106 banks that suspended 1929-33 was $6,886 million; losses to depositers were $1,336, or 19%.
As the second head of FDIC in early 1934 he appointed Leo Crowley, a Wisconsin banker who, Roosevelt soon discovered, was using the FDIC to cover his own embezzlements.
Deposits that are covered by insurance are deposits that are not invested in bonds or stocks.
en.wikipedia.org /wiki/Federal_Deposit_Insurance_Corporation   (1834 words)

  
 Federal Deposit Insurance Corporation: Free Encyclopedia Articles at Questia.com Online Library
The corporation was established in 1933 to prevent a repetition of the losses incurred during the Great Depression when bankrupt banks could not return the money deposited in them.
Since 1989 the FDIC has supervised the Savings Association Insurance Fund, the agency that was created to provide coverage for savings and loan associations when the Federal Savings and Loan Insurance Corporation became insolvent.
The Federal Deposit Insurance Corporation (F.D.I.C...credit of the federal government...inception in 1933, deposit insurance was opposed...risk to the deposit insurance funds and trigger...requests from the Federal Reserve.
www.questia.com /library/encyclopedia/federal-deposit-insurance-corporation.jsp?l=F&p=1   (1565 words)

  
 Federal Deposit Insurance Corporation (FDIC)
An independent agency of the federal government, the FDIC was created in 1933 in response to the thousands of bank failures that occurred in the 1920s and early 1930s.
In addition, the FDIC is the back-up supervisor for the remaining insured banks and thrift institutions.
The FDIC is managed by a five-person Board of Directors, all of whom are appointed by the President and confirmed by the Senate, with no more than three being from the same political party.
www.alliemae.org /fdic.html   (664 words)

  
 Atherton v. Federal Deposit Insurance Corporation, 519 U.S. 213 (1997).   (Site not responding. Last check: 2007-10-10)
They pointed to a federal statute, 12 U.S.C. § 1821(k), that says in part that a "director or officer" of a federally insured bank "may be held personally liable for monetary damages" in an RTC initiated "civil action.
Noting that City Federal is a federally chartered savings institution, the Circuit concluded that the RTC was free "to pursue any claims for negligence or of breach of fiduciary duty available as a matter of federal common law." Id.
B 9 (Aug. 1995) (showing that, in 1989, there were 1,595 federally chartered institutions and 1,492 state chartered ones); and a federal standard that increases uniformity among the former would increase disparity with the latter.
supct.law.cornell.edu /supct/html/95-928.ZO.html   (4468 words)

  
 Federal Deposit Insurance Corporation as supplied by EagleTraders.com
For insurance purposes, the official custodian of public funds is considered to be the depositor, not the public unit; he is entitled to insurance upon such funds deposited in an insured bank and maintained in the same right and capacity to the maximum of $100,000.
The corporation receives the unacceptable assets from the closed bank in accordance with (1) a loan agreement under which the assets are considered collateral, or (2) a purchase agreement under which the assets are sold to the corporation and may, in some cases, be reacquired by the closed bank.
The corporation liquidates the unacceptable assets and retains the proceeds in reimbursement of the amount advanced to the closed bank, in reimbursement of expenses incurred in connection with the maintenance and liquidation of the assets, and in payment of interest or allowable return on the unliquidated advances and accumulated expenses.
eagletraders.com /advice/securities/federal_deposit_insurance_cor.htm   (2279 words)

  
 Modifying Federal Deposit Insurance
Indeed, the FDIC has found that the increase in deposit insurance coverage from $40,000 to $100,000 in 1980 contributed to the losses suffered by the deposit insurance program.
The Congress is considering a number of changes to federal deposit insurance, including proposals to increase the real level of insurance coverage, charge all banks and savings associations premiums for deposit insurance, authorize credits that some banks could use to pay premiums, change the designated reserve ratio, and specify a required level of premiums.
To justify increasing insurance coverage, advocates point to the erosion of the real value of coverage by inflation, greater convenience to depositors who now divide their money into multiple accounts, the possibility of attracting more deposits to all banks and thrifts, and more secure protection for municipal deposits.
www.cbo.gov /showdoc.cfm?index=6342&sequence=0   (3457 words)

  
 Federal Deposit Insurance Corporation v. Laidlaw Transit, Inc. (4/12/01) sp-5390
FDIC claimed a right to compensation under AS 46.03.822, which imposes strict liability on a joint and several basis for release of hazardous substances and, in addition, allows responsible parties to sue for contribution.
FDIC alleged that these defendants were both strictly liable under AS 46.03.822(a) and liable in contribution under AS 46.03.822(j) for cleanup costs and other damages resulting from contamination of its land by their release of hazardous substances.
FDIC alleges that the defendants are subject to joint and several strict liability under AS 46.03.822(a), which provides that "the owner and the operator of a.
touchngo.com /sp/html/sp-5390.htm   (6474 words)

  
 Atherton v. Federal Deposit Insurance Corporation, 519 U.S. 213 (1997).   (Site not responding. Last check: 2007-10-10)
They pointed to a federal statute, 12 U.S.C. § 1821(k), that says in part that a "director or officer" of a federally insured bank "may be held personally liable for monetary damages" in an RTC initiated "civil action.
Noting that City Federal is a federally chartered savings institution, the Circuit concluded that the RTC was free "to pursue any claims for negligence or of breach of fiduciary duty available as a matter of federal common law." Id.
B 9 (Aug. 1995) (showing that, in 1989, there were 1,595 federally chartered institutions and 1,492 state chartered ones); and a federal standard that increases uniformity among the former would increase disparity with the latter.
straylight.law.cornell.edu /supct/html/95-928.ZO.html   (4468 words)

  
 Federal Deposit Insurance Corporation — FactMonster.com
Federal Deposit Insurance Corporation (FDIC), an independent U.S. federal executive agency designed to promote public confidence in banks and to provide insurance coverage for bank deposits up to $100,000.
The corporation was established in 1933 to prevent a repetition of the losses incurred during the
The FDIC provides coverage for deposits in national banks, in state banks that are members of the
www.factmonster.com /ce6/history/A0818383.html   (201 words)

  
 Alternative Dispute Resolution
FDIC's ADR Program has eight major parts: conflict management systems design, ADR advice and consultation, mediation and facilitation services, ADR policy and legislative analysis, outreach and work in the federal sector, ADR training and education, evaluation and tracking, and support for the Corporate ADR Steering Committee.
The FDIC's current ADR policy strongly encourages the use of ADR and is committed to continuing to expand its use both internally and with those outside the Corporation.
In 1989 during the height of the banking and thrift crisis, the FDIC (which then also had responsibility for the Resolution Trust Corporation (RTC)) adopted ADR policies in response to the increasing number of cases in which the FDIC and RTC found themselves on opposite sides of a lawsuit with few, if any, other disputants.
www.opm.gov /er/adrguide/Section1-federal.asp   (1571 words)

  
 Federal Deposit Insurance Corporation and Frank Pio Crivello Settle Litigation Commenced in 1994
Frank Crivello was represented in the FDIC litigation by Leonard G. Leverson, of the law firm of Kravit, Gass & Weber, S.C. ("KGW"), www.kravitlaw.com.
Joseph Crivello was not a defendant in the FDIC litigation.
The FDIC was Frank Crivello’s largest creditor given the concentration of the FDIC’s loans giving the FDIC an effective veto over Frank Crivello’s Plan.
www.phoenixinv.com /news/03Nov10.html   (695 words)

  
 Federal Deposit Insurance Corporation (FDIC) - NTIS Products
The FDIC is the independent deposit insurance agency created by Congress to maintain stability and public confidence in the nation's banking system.
In its unique role as deposit insurer of banks and saving associations, and in cooperation with the other federal and state regulatory agencies, the FDIC promotes the safety and soundness of insured depository institutions and the U.S. financial system by identifying, monitoring, and addressing risks to the deposit insurance funds.
The FDIC's long and continuing tradition of public service is supported and sustained by a highly skilled and diverse workforce that responds rapidly and successfully to changes in the financial environment.
www.ntis.gov /products/specialty/banking/fdic.asp?loc=4-0-0   (393 words)

  
 Federal Deposit Insurance Corporation, Washington, D.C. and National Treasury Employees Union, Case No. 96 FSIP 5 ...
NTEU recognizes that the FDIC maintains that it has fulfilled its obligation to bargain over the entire program, including the particular matter in dispute.” FDIC also signed that letter “concurring” with its “terms.” The use of performance ratings in a RIF is the issue before the Panel.
The FDIC’s mission is to: (1) insure deposits in national banks, State banks that are members of the Federal Reserve System (FRS), and savings and loans institutions that are members of the Savings Association Insurance Fund; and (2) examine periodically insured State banks that are not members of FRS.
Finally, under 5 C.F.R. 351.504(b)(4)(i), FDIC "must specify in its performance appraisal system or other appropriate issuance the type of annual performance ratings of record that are used to determine retention standing." Since it has determined to use summary ratings to appraise employees, such ratings also must be used for job retention purposes.
www.flra.gov /fsip/finalact/96fs_005.html   (4042 words)

  
 HyperWar: U.S. Government Manual--1945 [Federal Deposit Insurance Corporation]
The entire capital stock of the Corporation is without nominal or par value, and the consideration received therefor may be allocated to capital and to surplus in such amounts as the board of directors shall prescribe.
The dispositors in the 245 insured banks that have been placed in receivership from the beginning of deposit insurance to June 30, 1944, have been paid in each case a soon as their claims have been presented to agents of the Corporation and proved.
The funds of the Corporation not otherwise employed are required to be invested in securities of the Government of the United States, except that for temporary periods they may be deposited in a Federal Reserve Bank or with the Treasurer of the United States.
www.ibiblio.org /hyperwar/ATO/USGM/FDIC.html   (1740 words)

  
 [No title]
The FDIC amends its regulations under the general rulemaking authority prescribed in section 9 of the Federal Deposit Insurance Act (12 U.S.C. 1819) and under specific authority granted by the Act and other statutes.
Instead, the FDIC plans to revisit the issue with a new ANPRM on alternative options for the deposit component of the assessment base and on options regarding the float deduction and use of average daily deposit balances.
FDIC staff are contemplating a recommendation to rescind this proposal and replace it with a second NPRM to exempt banks from registering with the NASD/SEC as securities brokers or dealers in the event that they qualify under any of the exemption criteria in Gramm-Leach-Bliley Act sections 201 or 202 (see NPRM described at 3064-AC42).
ciir.cs.umass.edu /ua/Spring2002/agenda/FEDERAL_DEPOSIT_INSURANCE_CORPORATION_(FDIC).html   (2606 words)

  
 Federal Deposit Insurance Corporation (FDIC)
The Federal Deposit Insurance Corporation (FDIC) is a federal agency established by the US Congress in 1933 to guarantee the funds on deposit in member banks, and thrift institutions such as savings and loans.
The FDIC also undertakes transactions among member institutions that assist in maintaining their financial integrity.
The Federal Deposit and Insurance Corporation (FDIC) sells puts to banks which allow them to sell their obligations on checking and savings deposits to the government under certain conditions.
www.in-the-money.com /glossarynet/Federal_.htm   (141 words)

  
 FEDERAL DEPOSIT INSURANCE CORPORATION, Washington, DC   (Site not responding. Last check: 2007-10-10)
The FDIC is an independent agency of the Federal Government that provides deposit insurance to U.S. banks and thrifts and serves as the primary regulator for state-chartered banks that are not member of the Federal Reserve System.
FDIC economists conduct and publish research on topics relevant to the condition of the banking industry, bank regulation and deposit insurance.
They develop and maintain quantitative financial models that support FDIC operations in such areas as finance, deposit insurance, bank safety and soundness, bank supervision, bank failure resolution, and consumer protection.
www.aeaweb.org /joe/0410d/html/joe260.html   (207 words)

  
 US CODE: Title 12,1811. Federal Deposit Insurance Corporation   (Site not responding. Last check: 2007-10-10)
There is hereby established a Federal Deposit Insurance Corporation (hereinafter referred to as the “Corporation”) which shall insure, as hereinafter provided, the deposits of all banks and savings associations which are entitled to the benefits of insurance under this chapter, and which shall have the powers hereinafter granted.
The Corporation shall have a separate division of asset disposition.
The division of asset disposition shall carry out all of the responsibilities of the Corporation under this chapter relating to the liquidation of insured depository institutions and the disposition of assets of such institutions.
www.law.cornell.edu /uscode/12/1811.html   (138 words)

  
 FDIC: Federal Deposit Insurance Corporation
The FDIC provides a free, online service for you to track the latest developments.
The FDIC's new national initiative to establish broad-based coalitions of financial institutions, community-based organizations, and other partners to bring all unbanked and underserved populations into the financial mainstream.
The FDIC will host the inaugural meeting of this committee on March 28, 2007.
www.fdic.gov   (368 words)

  
 MILTON R. STONE v. FEDERAL DEPOSIT INSURANCE CORPORATION   (Site not responding. Last check: 2007-10-10)
An appeal by the appellant to the U.S. Court of Appeals for the Federal Circuit followed.
In a June 11, 1999 decision, the court vacated the Board's decision and remanded the appeal for further proceedings.
The petition should contain specific reasons why the petitioning party believes that the terms of the settlement agreement have not been fully carried out, and should include the dates and results of any communications between the parties.
www.mspb.gov /decisions/1999/de279mso.html   (521 words)

  
 Federal Deposit Insurance Corporation on Encyclopedia.com   (Site not responding. Last check: 2007-10-10)
FEDERAL DEPOSIT INSURANCE CORPORATION [Federal Deposit Insurance Corporation] (FDIC), an independent U.S. federal executive agency designed to promote public confidence in banks and to provide insurance coverage for bank deposits up to $100,000.
Breaking the bank: taxpayers beware: now the FDIC is low on cash and may need a bailout.
The effect of the Federal Deposit Insurance Corporation Improvement Act of 1991 on bank stocks.
www.encyclopedia.com /html/f/fedd1.asp   (886 words)

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