12 U.S.C. § 1813

Section 1813 · Definitions

Current version, with additions and removals from the July 30, 2008 version.

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Current — July 21, 2010

As of July 30, 2008

As used in this chapter—

(a) Definitions of bank and related terms

(1) Bank

The term “bank”—

(A) means any national bank and State bank, and any Federal branch and insured branch;

(B) includes any former savings association.

(2) State bank

The term “State bank” means any bank, banking association, trust company, savings bank, industrial bank (or similar depository institution which the Board of Directors finds to be operating substantially in the same manner as an industrial bank), or other banking institution which—

(A) is engaged in the business of receiving deposits, other than trust funds (as defined in this section); and

(B) is incorporated under the laws of any State or which is operating under the Code of Law for the District of Columbia,

including any cooperative bank or other unincorporated bank the deposits of which were insured by the Corporation on the day before August 9, 1989.

(3) State

The term “State” means any State of the United States, the District of Columbia, any territory of the United States, Puerto Rico, Guam, American Samoa, the Trust Territory of the Pacific Islands, the Virgin Islands, and the Northern Mariana Islands.

(b) Definition of savings associations and related terms

(1) Savings association

The term “savings association” means—

(A) any Federal savings association;

(B) any State savings association; and

(C) any corporation (other than a bank) that the Board of Directors and the Director of the Office of Thrift Supervision jointly determine to be operating in substantially the same manner as a savings association.

(2) Federal savings association

The term “Federal savings association” means any Federal savings association or Federal savings bank which is chartered under section 1464 of this title.

(3) State savings association

The term “State savings association” means—

(A) any building and loan association, savings and loan association, or homestead association; or

(B) any cooperative bank (other than a cooperative bank which is a State bank as defined in subsection (a)(2) of this section),

which is organized and operating according to the laws of the State (as defined in subsection (a)(3) of this section) in which it is chartered or organized.

(1) Depository institution

The term “depository institution” means any bank or savings association.

(2) Insured depository institution

The term “insured depository institution” means any bank or savings association the deposits of which are insured by the Corporation pursuant to this chapter.

(3) Institutions included for certain purposes

The term “insured depository institution” includes any uninsured branch or agency of a foreign bank or a commercial lending company owned or controlled by a foreign bank for purposes of section 1818 of this title.

(4) Federal depository institution

The term “Federal depository institution” means any national bank, any Federal savings association, and any Federal branch.

(5) State depository institution

The term “State depository institution” means any State bank, any State savings association, and any insured branch which is not a Federal branch.

(d) Definitions relating to member banks

(1) National member bank

The term “national member bank” means any national bank which is a member of the Federal Reserve System.

(2) State member bank

The term “State member bank” means any State bank which is a member of the Federal Reserve System.

(e) Definitions relating to nonmember banks

(1) National nonmember bank

The term “national nonmember bank” means any national bank which—

(A) is located in any territory of the United States, Puerto Rico, Guam, American Samoa, the Virgin Islands, or the Northern Mariana Islands; and

(B) is not a member of the Federal Reserve System.

(2) State nonmember bank

The term “State nonmember bank” means any State bank which is not a member of the Federal Reserve System.

(f) Mutual savings bank

The term “mutual savings bank” means a bank without capital stock transacting a savings bank business, the net earnings of which inure wholly to the benefit of its depositors after payment of obligations for any advances by its organizers.

(g) Savings bank

The term “savings bank” means a bank (including a mutual savings bank) which transacts its ordinary banking business strictly as a savings bank under State laws imposing special requirements on such banks governing the manner of investing their funds and of conducting their business.

(h) Insured bank

The term “insured bank” means any bank (including a foreign bank having an insured branch) the deposits of which are insured in accordance with the provisions of this chapter; and the term “noninsured bank” means any bank the deposits of which are not so insured.

(i) New depository institution and bridge depository institution defined

(1) New depository institution

The term “new depository institution” means a new national bank or Federal savings association, other than a bridge depository institution, organized by the Corporation in accordance with section 1821(m) of this title.

(2) Bridge depository institution

The term “bridge depository institution” means a new national bank or Federal savings association organized by the Corporation in accordance with section 1821(n) of this title.

(j) Receiver

The term “receiver” includes a receiver, liquidating agent, conservator, commission, person, or other agency charged by law with the duty of winding up the affairs of a bank or savings association or of a branch of a foreign bank.

(k) Board of Directors

The term “Board of Directors” means the Board of Directors of the Corporation.

(l) Deposit

The term “deposit” means—

(1) the unpaid balance of money or its equivalent received or held by a bank or savings association in the usual course of business and for which it has given or is obligated to give credit, either conditionally or unconditionally, to a commercial, checking, savings, time, or thrift account, or which is evidenced by its certificate of deposit, thrift certificate, investment certificate, certificate of indebtedness, or other similar name, or a check or draft drawn against a deposit account and certified by the bank or savings association, or a letter of credit or a traveler's check on which the bank or savings association is primarily liable: Provided, That, without limiting the generality of the term “money or its equivalent”, any such account or instrument must be regarded as evidencing the receipt of the equivalent of money when credited or issued in exchange for checks or drafts or for a promissory note upon which the person obtaining any such credit or instrument is primarily or secondarily liable, or for a charge against a deposit account, or in settlement of checks, drafts, or other instruments forwarded to such bank or savings association for collection.

(2) trust funds as defined in this chapter received or held by such bank or savings association, whether held in the trust department or held or deposited in any other department of such bank or savings association.

(3) money received or held by a bank or savings association, or the credit given for money or its equivalent received or held by a bank or savings association, in the usual course of business for a special or specific purpose, regardless of the legal relationship thereby established, including without being limited to, escrow funds, funds held as security for an obligation due to the bank or savings association or others (including funds held as dealers reserves) or for securities loaned by the bank or savings association, funds deposited by a debtor to meet maturing obligations, funds deposited as advance payment on subscriptions to United States Government securities, funds held for distribution or purchase of securities, funds held to meet its acceptances or letters of credit, and withheld taxes: Provided, That there shall not be included funds which are received by the bank or savings association for immediate application to the reduction of an indebtedness to the receiving bank or savings association, or under condition that the receipt thereof immediately reduces or extinguishes such an indebtedness.

(4) outstanding draft (including advice or authorization to charge a bank's or a savings association's balance in another bank or savings association), cashier's check, money order, or other officer's check issued in the usual course of business for any purpose, including without being limited to those issued in payment for services, dividends, or purchases, and

(5) such other obligations of a bank or savings association as the Board of Directors, after consultation with the Comptroller of the Currency, Director of the Office of Thrift Supervision, and the Board of Governors of the Federal Reserve System, shall find and prescribe by regulation to be deposit liabilities by general usage, except that the following shall not be a deposit for any of the purposes of this chapter or be included as part of the total deposits or of an insured deposit:

(A) any obligation of a depository institution which is carried on the books and records of an office of such bank or savings association located outside of any State, unless—

(i) such obligation would be a deposit if it were carried on the books and records of the depository institution, and would be payable at, an office located in any State; and

(ii) the contract evidencing the obligation provides by express terms, and not by implication, for payment at an office of the depository institution located in any State;

(B) any international banking facility deposit, including an international banking facility time deposit, as such term is from time to time defined by the Board of Governors of the Federal Reserve System in regulation D or any successor regulation issued by the Board of Governors of the Federal Reserve System; and

(C) any liability of an insured depository institution that arises under an annuity contract, the income of which is tax deferred under section 72 of title 26.

(m) Insured deposit

(1) In general.—Subject to paragraph (2), the term “insured deposit” means the net amount due to any depositor for deposits in an insured depository institution as determined under sections 1817(i) and 1821(a) of this title.

(2) In the case of any deposit in a branch of a foreign bank, the term “insured deposit” means an insured deposit as defined in paragraph (1) of this subsection which—

(A) is payable in the United States to—

(i) an individual who is a citizen or resident of the United States,

(ii) a partnership, corporation, trust, or other legally cognizable entity created under the laws of the United States or any State and having its principal place of business within the United States or any State, or

(iii) an individual, partnership, corporation, trust, or other legally cognizable entity which is determined by the Board of Directors in accordance with its regulations to have such business or financial relationships in the United States as to make the insurance of such deposit consistent with the purposes of this chapter;

and

(B) meets any other criteria prescribed by the Board of Directors by regulation as necessary or appropriate in its judgment to carry out the purposes of this chapter or to facilitate the administration thereof.

(3) Uninsured deposits.—The term “uninsured deposit” means the amount of any deposit of any depositor at any insured depository institution in excess of the amount of the insured deposits of such depositor (if any) at such depository institution.

(4) Preferred deposits.—The term “preferred deposits” means deposits of any public unit (as defined in paragraph (1)) at any insured depository institution which are secured or collateralized as required under State law.

(n) Transferred deposit

The term “transferred deposit” means a deposit in a new bank or other insured depository institution made available to a depositor by the Corporation as payment of the insured deposit of such depositor in a closed bank, and assumed by such new bank or other insured depository institution.

(o) Domestic branch

The term “domestic branch” includes any branch bank, branch office, branch agency, additional office, or any branch place of business located in any State of the United States or in any Territory of the United States, Puerto Rico, Guam, American Samoa, the Trust Territory of the Pacific Islands, or the Virgin Islands at which deposits are received or checks paid or money lent. The term “domestic branch” does not include an automated teller machine or a remote service unit. The term “foreign branch” means any office or place of business located outside the United States, its territories, Puerto Rico, Guam, American Samoa, the Trust Territory of the Pacific Islands, or the Virgin Islands, at which banking operations are conducted.

(p) Trust funds

The term “trust funds” means funds held by an insured depository institution in a fiduciary capacity and includes, without being limited to, funds held as trustee, executor, administrator, guardian, or agent.

(q) Appropriate Federal banking agency

The term “appropriate Federal banking agency” means—

(1) the Comptroller of the Currency, in the case of any national banking association or any Federal branch or agency of a foreign bank;

(2) the Board of Governors of the Federal Reserve System, in the case of—

(A) any State member insured bank,

(B) any branch or agency of a foreign bank with respect to any provision of the Federal Reserve Act ~~[12 U.S.C. 221 et seq.]~~ which is made applicable under the International Banking Act of ~~1978 [12 U.S.C. 3101 et seq.],~~

(B) any branch or agency of a foreign bank with respect to any provision of the Federal Reserve Act which is made applicable under the International Banking Act of 1978,

(D) any agency or commercial lending company other than a Federal agency,

(E) supervisory or regulatory proceedings arising from the authority given to the Board of Governors under section 7(c)(1) of the International Banking Act of ~~1978 [12 U.S.C. 3105(c)(1)],~~ including such proceedings under the Financial Institutions Supervisory Act of 1966, and

(E) supervisory or regulatory proceedings arising from the authority given to the Board of Governors under section 7(c)(1) of the International Banking Act of 1978, including such proceedings under the Financial Institutions Supervisory Act of 1966, and

(F) any bank holding company and any subsidiary of a bank holding company (other than a bank);

(3) the Federal Deposit Insurance Corporation in the case of a State nonmember insured bank or a foreign bank having an insured branch; and

(4) the Director of the Office of Thrift Supervision in the case of any savings association or any savings and loan holding company.

Under the rule set forth in this subsection, more than one agency may be an appropriate Federal banking agency with respect to any given institution.

(r) State bank supervisor

(1) In general

The term “State bank supervisor” means any officer, agency, or other entity of any State which has primary regulatory authority over State banks or State savings associations in such State.

(2) Interstate application

The State bank supervisors of more than 1 State may be the appropriate State bank supervisor for any insured depository institution.

(s) Definitions relating to foreign banks and branches

(1) Foreign bank

The term “foreign bank” has the meaning given to such term by section 1(b)(7) of the International Banking Act of 1978 [12 U.S.C. 3101(b)(7)].

(2) Federal branch

The term “Federal branch” has the meaning given to such term by section 1(b)(6) of the International Banking Act of 1978 [12 U.S.C. 3101(b)(6)].

(3) Insured branch

The term “insured branch” means any branch (as defined in section 1(b)(3) of the International Banking Act of 1978 [12 U.S.C. 3101(b)(3)]) of a foreign bank any deposits in which are insured pursuant to this chapter.

(t) Includes, including

(1) In general

The terms “includes” and “including” shall not be construed more restrictively than the ordinary usage of such terms so as to exclude any other thing not referred to or described.

(2) Rule of construction

Paragraph (1) shall not be construed as creating any inference that the term “includes” or “including” in any other provision of Federal law may be deemed to exclude any other thing not referred to or described.

(u) Institution-affiliated party

The term “institution-affiliated party” means—

(1) any director, officer, employee, or controlling stockholder (other than a bank holding company) of, or agent for, an insured depository institution;

(2) any other person who has filed or is required to file a change-in-control notice with the appropriate Federal banking agency under section 1817(j) of this title;

(3) any shareholder (other than a bank holding company), consultant, joint venture partner, and any other person as determined by the appropriate Federal banking agency (by regulation or case-by-case) who participates in the conduct of the affairs of an insured depository institution; and

(4) any independent contractor (including any attorney, appraiser, or accountant) who knowingly or recklessly participates in—

(A) any violation of any law or regulation;

(B) any breach of fiduciary duty; or

which caused or is likely to cause more than a minimal financial loss to, or a significant adverse effect on, the insured depository institution.

(v) Violation

The term “violation” includes any action (alone or with another or others) for or toward causing, bringing about, participating in, counseling, or aiding or abetting a violation.

(w) Definitions relating to affiliates of depository institutions

(1) Depository institution holding company

The term “depository institution holding company” means a bank holding company or a savings and loan holding company.

(2) Bank holding company

The term “bank holding company” has the meaning given to such term in section 1841 of this title.

(3) Savings and loan holding company

The term “savings and loan holding company” has the meaning given to such term in section 1467a of this title.

(4) Subsidiary

The term “subsidiary”—

(A) means any company which is owned or controlled directly or indirectly by another company; and

(B) includes any service corporation owned in whole or in part by an insured depository institution or any subsidiary of such a service corporation.

(5) Control

The term “control” has the meaning given to such term in section 1841 of this title.

(6) Affiliate

The term “affiliate” has the meaning given to such term in section 1841(k) of this title.

(7) Company

The term “company” has the same meaning as in section 1841(b) of this title.

(x) Definitions relating to default

(1) Default

The term “default” means, with respect to an insured depository institution, any adjudication or other official determination by any court of competent jurisdiction, the appropriate Federal banking agency, or other public authority pursuant to which a conservator, receiver, or other legal custodian is appointed for an insured depository institution or, in the case of a foreign bank having an insured branch, for such branch.

(2) In danger of default

The term “in danger of default” means an insured depository institution with respect to which (or in the case of a foreign bank having an insured branch, with respect to such insured branch) the appropriate Federal banking agency or State chartering authority has advised the Corporation (or, if the appropriate Federal banking agency is the Corporation, the Corporation has determined) that—

(A) in the opinion of such agency or authority—

(i) the depository institution or insured branch is not likely to be able to meet the demands of the institution's or branch's depositors or pay the institution's or branch's obligations in the normal course of business; and

(ii) there is no reasonable prospect that the depository institution or insured branch will be able to meet such demands or pay such obligations without Federal assistance; or

(B) in the opinion of such agency or authority—

(i) the depository institution or insured branch has incurred or is likely to incur losses that will deplete all or substantially all of its capital; and

(ii) there is no reasonable prospect that the capital of the depository institution or insured branch will be replenished without Federal assistance.

(y) Definitions relating to Deposit Insurance Fund

(1) Deposit Insurance Fund

The term “Deposit Insurance Fund” means the Deposit Insurance Fund established under section 1821(a)(4) of this title.

(2) Designated reserve ratio

The term “designated reserve ratio” means the reserve ratio designated by the Board of Directors in accordance with section 1817(b)(3) of this title.

(3) Reserve ratio

The term “reserve ratio”, when used with regard to the Deposit Insurance Fund other than in connection with a reference to the designated reserve ratio, means the ratio of the net worth of the Deposit Insurance Fund to the value of the aggregate estimated insured ~~deposits.~~

(z) Federal banking agency

The term “Federal banking agency” means the Comptroller of the Currency, the Director of the Office of Thrift Supervision, the Board of Governors of the Federal Reserve System, or the Federal Deposit Insurance Corporation.

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Versions

Jul 21, 2010 – presentcurrentviewing
Annual edition
Subsec. (b)(1)(C). Pub. L. 111–203, § 363(1)(A), substituted “Comptroller of the Currency” for “Director of the Office of Thrift Supervision”.
Dodd-Frank →
▸ what changed
Source credit
Pub. L. 111–203, title III, §§ 312(c), 334(b), 363(1), July 21, 2010, 124 Stat. 1522, 1539, 1550.
Jul 30, 2008 – Jul 21, 2010
Annual edition
Subsec. (i). Pub. L. 110–289 added subsec. (i) and struck out former subsec. (i). Prior to amendment, text read as follows:
▸ what changed changes vs current →
Source credit
Pub. L. 110–289, div. A, title VI, § 1604(b)(1)(A), July 30, 2008, 122 Stat. 2829
Oct 16, 2006 – Jul 30, 2008
Annual edition
Subsec. (a)(1)(B). Pub. L. 109–173, § 8(a)(1)(A), added subpar. (B) and struck out former subpar. (B) which read as follows: “includes any former savings association that—
changes vs current →
Source credit
Pub. L. 109–356, title I, § 123(d), Oct. 16, 2006, 120 Stat. 2029
Oct 13, 2006 – Oct 16, 2006
Amended · full text not held
Subsec. (a)(1)(B). Pub. L. 109–173, § 8(a)(1)(A), added subpar. (B) and struck out former subpar. (B) which read as follows: “includes any former savings association that—
Source credit
Pub. L. 109–351, title VII, § 725(d), Oct. 13, 2006, 120 Stat. 2002
Feb 15, 2006 – Oct 13, 2006
Amended · full text not held
Subsec. (a)(1)(B). Pub. L. 109–173, § 8(a)(1)(A), added subpar. (B) and struck out former subpar. (B) which read as follows: “includes any former savings association that—
Source credit
Pub. L. 109–173, §§ 4(a), 8(a)(1), Feb. 15, 2006, 119 Stat. 3606, 3610
Feb 8, 2006 – Feb 15, 2006
Amended · full text not held
Subsec. (a)(1)(B). Pub. L. 109–173, § 8(a)(1)(A), added subpar. (B) and struck out former subpar. (B) which read as follows: “includes any former savings association that—
Source credit
Pub. L. 109–171, title II, §§ 2102(b), 2107(b), Feb. 8, 2006, 120 Stat. 9, 19
Oct 30, 2004 – Feb 8, 2006
Annual edition
Subsec. (a)(1)(A). Pub. L. 108–386, § 8(a)(1)(A), substituted “and State bank” for “, State bank, and District bank”.
▸ what changed changes vs current →
Source credit
Pub. L. 108–386, § 8(a)(1), Oct. 30, 2004, 118 Stat. 2231
Sep 30, 1996 – Oct 30, 2004
Annual edition
Subsec. (a)(1)(B). Pub. L. 104–208, § 2704(d)(14)(A), which directed striking out subpar. (B) and adding a new subpar. (B), was repealed by Pub. L. 109–171. See Effective Date of 1996 Amendment note below and 2006 Amendment note above.
▸ what changed changes vs current →
Source credit
Pub. L. 104–208, div. A, title II, §§ 2205(b), 2614(a), 2704(d)(6)(A), (14)(A), Sept. 30, 1996, 110 Stat. 3009–405, 3009–478, 3009–488, 3009–490
Sep 23, 1994 – Sep 30, 1996
Annual edition
Subsec. (i)(1). Pub. L. 103–325, § 602(a)(1)(A), substituted “section 1821(m) of this title” for “section 1821(h) of this title”.
changes vs current →
Source credit
Pub. L. 103–325, title III, § 326(b)(2), title VI, § 602(a)(1), Sept. 23, 1994, 108 Stat. 2229, 2288
Dec 17, 1993 – Sep 23, 1994
Amended · full text not held
Subsec. (w)(7). Pub. L. 103–204, § 19(b)(2), added par. (7).
Source credit
Pub. L. 103–204, § 19(b), Dec. 17, 1993, 107 Stat. 2404
Oct 28, 1992 – Dec 17, 1993
Amended · full text not held
Subsec. (i)(2). Pub. L. 102–550, § 1606(g)(2), substituted “1821(n)” for “1821(i)”.
Source credit
Pub. L. 102–550, title XVI, §§ 1603(b)(2)(B), (d)(5), 1606(g)(2), Oct. 28, 1992, 106 Stat. 4079, 4080, 4089
Dec 19, 1991 – Oct 28, 1992
Amended · full text not held
Subsec. (m). Pub. L. 102–242, § 311(b)(5)(A), inserted heading.
Source credit
Pub. L. 102–242, title I, §§ 111(e), 112(b), 131(c)(3), 141(f), 161(c), title III, §§ 305(c), 311(b)(5)(A), Dec. 19, 1991, 105 Stat. 2242, 2266, 2278, 2286, 2355, 2366
Aug 9, 1989 – Dec 19, 1991
Amended · full text not held
Subsec. (a). Pub. L. 101–73, § 204(a), amended subsec. (a) generally, substituting provisions defining “bank”, “State bank”, “State”, and “District bank” for provisions defining “State bank” and “State”.
Source credit
Pub. L. 101–73, title II, §§ 201(a), 204, Aug. 9, 1989, 103 Stat. 187, 190
Aug 10, 1987 – Aug 9, 1989
Amended · full text not held
Subsec. (g). Pub. L. 100–86, § 101(g)(1), amended subsec. (g) generally. Prior to amendment, subsec. (g) read as follows: “The term ‘savings bank’ means a bank (other than a mutual savings bank) which transacts its ordinary banking business strictly as a savings bank under State laws imposing special requirements on such banks governing the manner of investing their funds and of conducting their business: Provided , That the bank maintains, until maturity date or until withdrawn, all deposits made with it (other than funds held by it in a fiduciary capacity) as time savings deposits of the specific term type or of the type where the right is reserved to the bank to require written notice before permitting withdrawal: Provided further , That such bank to be considered a savings bank must elect to become subject to regulations of the Corporation with respect to the redeposit of maturing deposits and prohibiting withdrawal of deposits by checking except in cases where such withdrawal was permitted by law on August 23, 1935, from specifically designated deposit accounts totaling not more than 15 per centum of the bank’s total deposits.”
Source credit
Pub. L. 100–86, title I, § 101(g)(1), title V, § 503(b), Aug. 10, 1987, 101 Stat. 563, 632
Oct 15, 1982 – Aug 10, 1987
Amended · full text not held
Subsec. (a). Pub. L. 97–320, § 703(a), inserted “industrial bank or similar financial institution which the Board of Directors finds to be operating substantially in the same manner as an industrial bank,” before “or other banking institution”.
Source credit
Pub. L. 97–320, title I, § 113(a), (b), title VII, § 703(a), (b), Oct. 15, 1982, 96 Stat. 1473, 1538, 1539
Dec 26, 1981 – Oct 15, 1982
Amended · full text not held
Subsec. (a). Pub. L. 97–110, § 103(a)(1), inserted “the Trust Territory of the Pacific Islands,” after “American Samoa,” wherever appearing.
Source credit
Pub. L. 97–110, title I, §§ 102, 103(a), Dec. 26, 1981, 95 Stat. 1513
Mar 31, 1980 – Dec 26, 1981
Amended · full text not held
Subsec. (m)(1). Pub. L. 96–221 substituted “$100,000” for “$40,000”.
Source credit
Pub. L. 96–221, title III, § 308(a)(1)(A), Mar. 31, 1980, 94 Stat. 147
Nov 10, 1978 – Mar 31, 1980
Amended · full text not held
Subsec. (h). Pub. L. 95–369, § 6(c)(2), inserted “(including a foreign bank having an insured branch)” after “The term ‘insured bank’ means any bank”.
Source credit
Pub. L. 95–630, title III, § 301(a), Nov. 10, 1978, 92 Stat. 3675
Sep 17, 1978 – Nov 10, 1978
Amended · full text not held
Subsec. (h). Pub. L. 95–369, § 6(c)(2), inserted “(including a foreign bank having an insured branch)” after “The term ‘insured bank’ means any bank”.
Source credit
Pub. L. 95–369, § 6(c)(2)–(6), Sept. 17, 1978, 92 Stat. 614, 615
Oct 28, 1974 – Sep 17, 1978
Amended · full text not held
Subsec. (m). Pub. L. 93–495 inserted “(other than a depositor referred to in the third sentence of this subsection)” after “net amount due to any depositor”, and substituted “$40,000” for “$20,000”.
ECOA →
Source credit
Pub. L. 93–495, title I, §§ 101(a)(1), 102(a)(1), Oct. 28, 1974, 88 Stat. 1500, 1502
Dec 31, 1970 – Oct 28, 1974
Amended · full text not held
Pub. L. 91–609 inserted reference to American Samoa in subsecs. (a), (d), (e), ( l )(5), (m), and ( o ), respectively.
Source credit
Pub. L. 91–609, title IX, § 910(a)–(f), Dec. 31, 1970, 84 Stat. 1811, 1812
Dec 23, 1969 – Dec 31, 1970
Amended · full text not held
Subsec. (m). Pub. L. 91–151 substituted $20,000 for $15,000 in first sentence.
Source credit
Pub. L. 91–151, § 7(a)(1), Dec. 23, 1969, 83 Stat. 375
Oct 16, 1966 – Dec 23, 1969
Amended · full text not held
Subsec. (m). Pub. L. 89–695, §§ 301(a), 303(a), substituted “$15,000” for “$10,000” in first sentence and inserted sentence which, for purpose of clarifying and defining the insurance coverage under subsec. (m) of this section and section 1817(i) of this title, authorized the Corporation to define terms used in those provisions, subsec. (p) of this section, and section 1821(a) and (i) of this title and the extent of insurance coverage resulting therefrom, respectively.
Source credit
Pub. L. 89–695, title II, § 201, title III, §§ 301(a), 303(a), Oct. 16, 1966, 80 Stat. 1046, 1055, 1056
Jul 14, 1960 – Oct 16, 1966
Amended · full text not held
Subsec. ( l ). Pub. L. 86–671 amended subsec. ( l ) generally, and among other changes, inserted in par. (1) “or held”, “either conditionally or unconditionally”, “or a check or draft drawn against a deposit account and certified by the bank, or a letter of credit or a traveler’s check on which the bank is primarily liable”, and inserted the proviso, added pars. (3) and (4), inserted provisions in par. (5) requiring the Board of Directors to consult with the Comptroller of the Currency and the Board of Governors of the Federal Reserve System, and struck out provisions which permitted mainland banks to exclude from deposit insurance the deposits of any of its branches in the Virgin Islands.
Source credit
Pub. L. 86–671, § 1, July 14, 1960, 74 Stat. 546
Aug 1, 1956 – Jul 14, 1960
Amended · full text not held
Subsec. (a). Act Aug. 1, 1956, § 3(a), inserted “Guam,” after “Puerto Rico,” and substituted a comma for the period and inserted “and the word ‘State’ means any State of the United States, the District of Columbia, any Territory of the United States, Puerto Rico, Guam, or the Virgin Islands”.
Source credit
Aug. 1, 1956, ch. 852, § 3, 70 Stat. 908
Jul 14, 1952 – Aug 1, 1956
Amended · full text not held
Subsec. ( l ). Act July 14, 1952, made it compulsory for banks having branches in Puerto Rico to insure their deposits.
Source credit
July 14, 1952, ch. 725, 66 Stat. 605
Sep 21, 1950 – Jul 14, 1952
Enacted · full text not held
Source credit
Sept. 21, 1950, ch. 967, § 2[3], 64 Stat. 873

See all changes since 1994 → current

Every enactment and amendment in this section's credit is listed. Full text is shown for versions back to 1994; earlier amendments are recorded by date and act, without pre-1994 full text.

Practice areas using this title

Banking and Finance Law

Terms defined in this section

affiliateas used in this chapter
appropriate Federal banking agencyas used in this chapter
bankas used in this chapter
bank holding companyas used in this chapter
Board of Directorsas used in this chapter
bridge depository institutionas used in this chapter
controlas used in this chapter
defaultas used in this chapter
depositas used in this chapter
Deposit Insurance Fundas used in this chapter
depository institutionas used in this chapter
depository institution holding companyas used in this chapter
designated reserve ratioas used in this chapter
domestic branchas used in this chapter
Federal banking agencyas used in this chapter
Federal branchas used in this chapter
Federal depository institutionas used in this chapter
Federal savings associationas used in this chapter
foreign bankas used in this chapter
in danger of defaultas used in this chapter
institution-affiliated partyas used in this chapter
insured bankas used in this chapter
insured branchas used in this chapter
insured depositas used in this chapter
insured depositas used in this chapter
insured depository institutionas used in this chapter
insured depository institutionas used in this chapter
mutual savings bankas used in this chapter
national member bankas used in this chapter
national nonmember bankas used in this chapter
new depository institutionas used in this chapter
preferred depositsas used in this chapter
receiveras used in this chapter
savings and loan holding companyas used in this chapter
savings associationas used in this chapter
savings bankas used in this chapter
Stateas used in this chapter
State bankas used in this chapter
State bank supervisoras used in this chapter
State depository institutionas used in this chapter
State member bankas used in this chapter
State nonmember bankas used in this chapter
State savings associationas used in this chapter
subsidiaryas used in this chapter
transferred depositas used in this chapter
trust fundsas used in this chapter
uninsured depositas used in this chapter
violationas used in this chapter