12 U.S.C. § 1813 | Definitions

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,

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

(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 Comptroller of the Currency jointly determine to be operating in substantially the same manner as a savings association.

(2)

Federal savings association

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

(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)),

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

(c)

Definitions relating to depository institutions

(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

section 1818 of this titleThe 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 .

(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

section 1821(m) of this titleThe 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 .

(2)

Bridge depository institution

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

(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)

Provided 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: , 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)

Provided 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: , 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, 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)

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

(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 Office of the Comptroller of the Currency, in the case of—

(A)

any national banking association;

(B)

any Federal branch or agency of a foreign bank; and

(C)

any Federal savings association;

(2)

the Federal Deposit Insurance Corporation, in the case of—

(A)

any State nonmember insured bank;

(B)

any foreign bank having an insured branch; and

(C)

1 So in original. Probably should be followed by “and”.

any State savings association; 

(3)

the Board of Governors of the Federal Reserve System, in the case of—

(A)

any State member bank;

(B)

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

(C)

any foreign bank which does not operate an insured branch;

(D)

any agency or commercial lending company other than a Federal agency;

(E)

12 U.S.C. 3105(c)(1) 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;

(F)

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

(G)

any savings and loan holding company and any subsidiary (other than a depository institution) of a 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

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

(2)

Federal branch

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

(3)

Insured branch

12 U.S.C. 3101(b)(3)The term “insured branch” means any branch (as defined in section 1(b)(3) of the International Banking Act of 1978 []) 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 or savings and loan holding company) of, or agent for, an insured depository institution;

(2)

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

(3)

any shareholder (other than a bank holding company or savings and loan 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

(C)

any unsafe or unsound practice,

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

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

(3)

Savings and loan holding company

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

(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

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

(6)

Affiliate

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

(7)

Company

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

(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

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

(2)

Designated reserve ratio

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

(3)

Reserve ratio

2 See References in Text note below.

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, or such comparable percentage of the assessment base set forth in section 1817(b)(2)(C)  of this title.

(z)

Federal banking agency

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

Sept. 21, 1950, ch. 967, § 2 64 Stat. 873 July 14, 1952, ch. 725 66 Stat. 605 Aug. 1, 1956, ch. 852, § 3 70 Stat. 908 Pub. L. 86–671, § 1July 14, 196074 Stat. 546 Pub. L. 89–695, title II, § 201Oct. 16, 196680 Stat. 1046 Pub. L. 91–151, § 7(a)(1)Dec. 23, 196983 Stat. 375 Pub. L. 91–609, title IX, § 910(a)Dec. 31, 197084 Stat. 1811 Pub. L. 93–495, title IOct. 28, 197488 Stat. 1500 Pub. L. 95–369, § 6(c)(2)Sept. 17, 197892 Stat. 614 Pub. L. 95–630, title III, § 301(a)Nov. 10, 197892 Stat. 3675 Pub. L. 96–221, title III, § 308(a)(1)(A)Mar. 31, 198094 Stat. 147 Pub. L. 97–110, title IDec. 26, 198195 Stat. 1513 Pub. L. 97–320, title I, § 113(a)Oct. 15, 198296 Stat. 1473 Pub. L. 100–86, title I, § 101(g)(1)Aug. 10, 1987101 Stat. 563 Pub. L. 101–73, title IIAug. 9, 1989103 Stat. 187 Pub. L. 102–242, title IDec. 19, 1991105 Stat. 2242 Pub. L. 102–550, title XVIOct. 28, 1992106 Stat. 4079 Pub. L. 103–204, § 19(b)Dec. 17, 1993107 Stat. 2404 Pub. L. 103–325, title III, § 326(b)(2)Sept. 23, 1994108 Stat. 2229 Pub. L. 104–208, div. A, title IISept. 30, 1996110 Stat. 3009–405 Pub. L. 108–386, § 8(a)(1)Oct. 30, 2004118 Stat. 2231 Pub. L. 109–171, title IIFeb. 8, 2006120 Stat. 9 Pub. L. 109–173Feb. 15, 2006119 Stat. 3606 Pub. L. 109–351, title VII, § 725(d)Oct. 13, 2006120 Stat. 2002 Pub. L. 109–356, title I, § 123(d)Oct. 16, 2006120 Stat. 2029 Pub. L. 110–289, div. A, title VI, § 1604(b)(1)(A)July 30, 2008122 Stat. 2829 Pub. L. 111–203, title IIIJuly 21, 2010124 Stat. 1522([3], ; , ; , ; , , ; , title III, §§ 301(a), 303(a), , , 1055, 1056; , , ; –(f), , , 1812; , §§ 101(a)(1), 102(a)(1), , , 1502; –(6), , , 615; , , ; , , ; , §§ 102, 103(a), , ; , (b), title VII, § 703(a), (b), , , 1538, 1539; , title V, § 503(b), , , 632; , §§ 201(a), 204, , , 190; , §§ 111(e), 112(b), 131(c)(3), 141(f), 161(c), title III, §§ 305(c), 311(b)(5)(A), , , 2266, 2278, 2286, 2355, 2366; , §§ 1603(b)(2)(B), (d)(5), 1606(g)(2), , , 4080, 4089; , , ; , title VI, § 602(a)(1), , , 2288; , §§ 2205(b), 2614(a), 2704(d)(6)(A), (14)(A), , , 3009–478, 3009–488, 3009–490; , , ; , §§ 2102(b), 2107(b), , , 19; , §§ 4(a), 8(a)(1), , , 3610; , , ; , , ; , , ; , §§ 312(c), 334(b), 363(1), , , 1539, 1550.)

Editorial Notes

References in Text

act Dec. 23, 1913, ch. 6 38 Stat. 251 section 226 of this titleThe Federal Reserve Act, referred to in subsec. (q)(3)(B), is , , which is classified principally to chapter 3 (§ 221 et seq.) of this title. For complete classification of this Act to the Code, see References in Text note set out under and Tables.

Pub. L. 95–369Sept. 17, 197892 Stat. 607 section 3101 of this titleThe International Banking Act of 1978, referred to in subsec. (q)(3)(B), is , , , which is classified principally to chapter 32 (§ 3101 et seq.) of this title. For complete classification of this Act to the Code, see Short Title note set out under and Tables.

Pub. L. 89–695Oct. 16, 196680 Stat. 1028 section 1464 of this titleThe Financial Institutions Supervisory Act of 1966, referred to in subsec. (q)(3)(E), is , , . For complete classification of this Act to the Code, see Short Title of 1966 Amendment note set out under and Tables.

Section 1817(b)(2)(C) of this title section 1817(b)(2)(D) of this title Pub. L. 111–203, title III, § 331(a)(2)July 21, 2010124 Stat. 1538, referred to in subsec. (y)(3), was redesignated by , , .

Prior Provisions

section 264 of this title section 1811 of this titleSection is derived from subsec. (c) of former . See Codification note set out under .

Amendments

Pub. L. 111–203, § 363(1)(A)2010—Subsec. (b)(1)(C). , substituted “Comptroller of the Currency” for “Director of the Office of Thrift Supervision”.

lPub. L. 111–203, § 363(1)(B)Subsec. ()(5). , struck out “Director of the Office of Thrift Supervision,” before “and the Board” in introductory provisions.

Pub. L. 111–203, § 312(c)(1)Subsec. (q)(1) to (4). , added pars. (1) to (3) and struck out former pars. (1) to (4) which listed the circumstances under which “appropriate Federal banking agency” meant, respectively, the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, and the Director of the Office of Thrift Supervision.

Pub. L. 111–203, § 312(c)(2)Subsec. (u)(1), (3). , substituted “(other than a bank holding company or savings and loan holding company” for “(other than a bank holding company”.

Pub. L. 111–203, § 334(b)section 1817(b)(2)(C) of this titleSubsec. (y)(3). , inserted “, or such comparable percentage of the assessment base set forth in ” before the period.

Pub. L. 111–203, § 363(1)(C)Subsec. (z). , struck out “the Director of the Office of Thrift Supervision,” before “the Board”.

Pub. L. 110–2892008—Subsec. (i). added subsec. (i) and struck out former subsec. (i). Prior to amendment, text read as follows:

New banksection 1821(m) of this title“(1) .—The term ‘new bank’ means a new national bank, other than a bridge bank, organized by the Corporation in accordance with .

Bridge banksection 1821(n) of this title“(2) .—The term ‘bridge bank’ means a new national bank organized by the Corporation in accordance with .”

Pub. L. 109–173, § 8(a)(1)(A)2006—Subsec. (a)(1)(B). , added subpar. (B) and struck out former subpar. (B) which read as follows: “includes any former savings association that—

“(i) has converted from a savings association charter; and

“(ii) is a Savings Association Insurance Fund member.”

Pub. L. 109–171, § 2102(b)Pub. L. 104–208, § 2704(d)(14)(A), repealed . See 1996 Amendment note below.

Pub. L. 109–351Subsec. (a)(2)(B). and 109–356 amended subpar. (B) identically, striking out “(except a national bank)” after “District of Columbia”.

Pub. L. 109–173, § 4(a)Subsec. (y). , inserted subsec. heading and par. (1) designation and heading and added par. (2).

Pub. L. 109–171, § 2102(b)Pub. L. 104–208, § 2704(d)(6)(A), repealed . See 1996 Amendment note below.

Pub. L. 109–173, § 8(a)(1)(B)Subsec. (y)(1). , added par. (1) and struck out heading and text of former par. (1). Text read as follows: “The term ‘deposit insurance fund’ means the Bank Insurance Fund or the Savings Association Insurance Fund, as appropriate.”

Pub. L. 109–171, § 2107(b)Subsec. (y)(3). , added par. (3).

Pub. L. 108–386, § 8(a)(1)(A)2004—Subsec. (a)(1)(A). , substituted “and State bank” for “, State bank, and District bank”.

Pub. L. 108–386, § 8(a)(1)(B)Subsec. (a)(4). , struck out heading and text of par. (4). Text read as follows: “The term ‘District bank’ means any State bank operating under the Code of Law of the District of Columbia.”

Pub. L. 108–386, § 8(a)(1)(C)Subsec. (q)(1). , struck out “, any District bank,” after “national banking association”.

Pub. L. 108–386, § 8(a)(1)(D)Subsec. (q)(2)(A). , struck out “(except a District bank)” after “State member insured bank”.

Pub. L. 108–386, § 8(a)(1)(E)Subsec. (q)(3). , struck out “(except a District bank),” after “State nonmember insured bank”.

Pub. L. 104–208, § 2704(d)(14)(A)Pub. L. 109–1711996—Subsec. (a)(1)(B). , which directed striking out subpar. (B) and adding a new subpar. (B), was repealed by . See Effective Date of 1996 Amendment note below and 2006 Amendment note above.

lPub. L. 104–208, § 2614(a)Subsec. ()(5)(C). , added subpar. (C).

oPub. L. 104–208, § 2205(b)Subsec. (). , substituted “lent. The term ‘domestic branch’ does not include an automated teller machine or a remote service unit. The” for “lent; and the”.

Pub. L. 104–208, § 2704(d)(6)(A)Pub. L. 109–171Subsec. (y). , which directed the general amendment of subsec. (y), was repealed by . See Effective Date of 1996 Amendment note below and 2006 Amendment note above.

Pub. L. 103–325, § 602(a)(1)(A)section 1821(m) of this title section 1821(h) of this title1994—Subsec. (i)(1). , substituted “” for “”.

lPub. L. 103–325, § 602(a)(1)(B)Subsec. ()(4). , substituted “a bank’s or a” for “bank’s or” before “savings association’s balance”.

lPub. L. 103–325, § 326(b)(2)Subsec. ()(5)(A). , amended subpar. (A) generally. Prior to amendment, subpar. (A) read as follows: “any obligation of a bank or savings association which is payable only at an office of such bank or savings association located outside of the States of the United States, the District of Columbia, Puerto Rico, Guam, American Samoa, the Trust Territory of the Pacific Islands, the Virgin Islands, and the Northern Mariana Islands; and”.

Pub. L. 103–325, § 602(a)(1)(C)Subsec. (q)(2)(E). , substituted “Financial Institutions Supervisory Act of 1966” for “Depository Institutions Supervisory Act”.

Pub. L. 103–204, § 19(b)(2)1993—Subsec. (w)(7). , added par. (7).

Pub. L. 103–204, § 19(b)(1)Federal Banking AgenciesSubsec. (z). , amended subsec. (z) generally. Prior to amendment, subsec. (z) read as follows: “.—The term ‘Federal banking agencies’ means the Office of the Comptroller of the Currency, the Office of Thrift Supervision, the Board of Governors of the Federal Reserve System, and the Federal Deposit Insurance Corporation.”

Pub. L. 102–550, § 1606(g)(2)1992—Subsec. (i)(2). , substituted “1821(n)” for “1821(i)”.

Pub. L. 102–550, § 1603(b)(2)(B)section 112 of Pub. L. 102–242Subsec. (r). , which directed the amendment of section 112 of the “Federal Deposit Insurance Corporation Improvement Act of 1992”, was executed by amending , which is the Federal Deposit Insurance Corporation Improvement Act of 1991, to reflect the probable intent of Congress. See 1991 Amendment note below.

Pub. L. 102–550, § 1603(d)(5)Pub. L. 102–242, § 131(c)(3)Subsec. (y). , amended directory language of . See 1991 Amendment note below.

Pub. L. 102–242, § 311(b)(5)(A)1991—Subsec. (m). , inserted heading.

Pub. L. 102–242, § 311(b)(5)(A)section 1817 of this title section 1817 of this title section 1821 of this titleSubsec. (m)(1). , added par. (1) and struck out former par. (1) which read as follows: “Subject to the provisions of paragraph (2) of this subsection, the term ‘insured deposit’ means the net amount due to any depositor (other than a depositor referred to in the third sentence of this subsection) for deposits in an insured depository institution (after deducting offsets) less any part thereof which is in excess of $100,000. Such net amount shall be determined according to such regulations as the Board of Directors may prescribe, and in determining the amount due to any depositor there shall be added together all deposits in the depository institution maintained in the same capacity and the same right for his benefit either in his own name or in the names of others except trust funds which shall be insured as provided in subsection (i) of . Each officer, employee, or agent of the United States, of any State of the United States, of the District of Columbia, of any Territory of the United States, of Puerto Rico, of Guam, of American Samoa, of the Trust Territory of the Pacific Islands, of the Virgin Islands, of the Northern Mariana Islands, of any county, of any municipality, or of any political subdivision thereof, herein called ‘public unit’, having official custody of public funds and lawfully depositing the same in an insured depository institution shall, for the purpose of determining the amount of the insured deposits, be deemed a depositor in such custodial capacity separate and distinct from any other officer, employee, or agent of the same or any public unit having official custody of public funds and lawfully depositing the same in the same insured depository institution in custodial capacity. For the purpose of clarifying and defining the insurance coverage under this subsection and subsection (i) of , the Corporation is authorized to define, with such classifications and exceptions as it may prescribe, terms used in those subsections, in subsection (p) of this section, and in subsections (a) and (i) of and the extent of the insurance coverage resulting therefrom.”

Pub. L. 102–242, § 141(f)Subsec. (m)(3), (4). , added pars. (3) and (4).

Pub. L. 102–242, § 112(b)Pub. L. 102–550, § 1603(b)(2)(B)Subsec. (r). , as added by , amended subsec. (r) generally. Prior to amendment, subsec. (r) read as follows: “The terms ‘foreign bank’ and ‘Federal branch’ shall be construed consistently with the usage of such terms in the International Banking Act of 1978.”

Pub. L. 102–242, § 111(e)Subsec. (s). , amended subsec. (s) generally. Prior to amendment, subsec. (s) read as follows: “The term ‘insured branch’ means a branch of a foreign bank any deposits in which are insured in accordance with the provisions of this chapter.”

Pub. L. 102–242, § 161(c)Subsec. (w). , substituted “Affiliates of Depository Institutions” for “Holding Companies” in heading.

Pub. L. 102–242, § 131(c)(3)Pub. L. 102–550, § 1603(d)(5)Subsec. (y). , as amended by , added subsec. (y).

Pub. L. 102–242, § 305(c)Subsec. (z). , added subsec. (z).

Pub. L. 101–73, § 204(a)1989—Subsec. (a). , amended subsec. (a) generally, substituting provisions defining “bank”, “State bank”, “State”, and “District bank” for provisions defining “State bank” and “State”.

Pub. L. 101–73, § 204(b)Subsec. (b). , amended subsec. (b) generally, substituting provisions defining “savings association”, “Federal savings association”, and “State savings association” for provisions defining “State member bank” and “State nonmember bank”.

Pub. L. 101–73, § 204(c)Subsec. (c). , amended subsec. (c) generally, substituting definitions relating to depository institutions for definition of “District bank”.

Pub. L. 101–73, § 204(d)Subsec. (d). , amended subsec. (d) generally, substituting provisions defining “national member bank” and “State member bank” for provisions defining “national member bank”.

Pub. L. 101–73, § 204(e)Subsec. (e). , amended subsec. (e) generally, substituting provisions defining “national nonmember bank” and “State nonmember bank” for provisions defining “national nonmember bank”.

Pub. L. 101–73, § 204(f)(1)Subsec. (j). , inserted “or savings association” after “of a bank”.

lPub. L. 101–73, § 204(f)(2)(A)Subsec. ()(1) to (3). , inserted “or savings association” after “a bank”, “the bank”, “receiving bank”, and “such bank” wherever appearing.

lPub. L. 101–73, § 204(f)(2)(A)Subsec. ()(4). , (B), inserted “or savings association” after “another bank”, and “or savings association’s” after “bank’s”.

lPub. L. 101–73, § 204(f)(2)(A)Subsec. ()(5). , (C), inserted “or savings association” after “a bank”, and “, Director of the Office of Thrift Supervision,” after “Comptroller of the Currency”.

lPub. L. 101–73, § 204(f)(2)(A)Subsec. ()(5)(A). , (D), inserted “or savings association” after “a bank” and after “such bank”, and substituted “the Virgin Islands, and the Northern Mariana Islands” for “and the Virgin Islands”.

Pub. L. 101–73, § 204(f)(3)(A)Subsec. (m)(1). , substituted “deposits in the depository institution maintained” for “deposits in the bank maintained” and inserted reference to the Northern Mariana Islands.

Pub. L. 101–73, § 201(a), substituted “insured depository institution” for “insured bank” wherever appearing.

Pub. L. 101–73, § 204(f)(3)(B)Subsec. (m)(2). , substituted “term” for “ther”.

Pub. L. 101–73, § 201(a)Subsec. (n). , substituted “insured depository institution” for “insured bank” wherever appearing.

Pub. L. 101–73, § 201(a)Subsec. (p). , substituted “insured depository institution” for “insured bank”.

Pub. L. 101–73, § 204(f)(4)Subsec. (q). , amended subsec. (q) generally. Prior to amendment, subsec. (q) read as follows: “The term ‘appropriate Federal banking agency’ shall mean—

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

“(2) the Board of Governors of the Federal Reserve System—

“(A) in the case of a State member insured bank (except a District bank),

“(B) in the case of 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,

“(C) in the case of any foreign bank which does not operate an insured branch,

“(D) in the case of any agency or commercial lending company other than a Federal agency, and

“(E) in the case of 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,

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

“(4) the Federal Home Loan Bank Board in the case of an insured Federal savings bank.

section 1818 of this titleUnder the rule set forth in this subsection, more than one agency may be an appropriate Federal banking agency with respect to any given institution. For the purposes of subsections (b) through (n) of , the term ‘insured bank’ shall be deemed to include any uninsured branch or agency of a foreign bank or any commercial lending company owned or controlled by a foreign bank.”

Pub. L. 101–73, § 204(f)(5)Subsec. (t). , amended subsec. (t) generally, substituting provisions relating to definition and construction of “includes” and “including” for provisions defining “insured Federal savings bank”.

Pub. L. 101–73, § 204(f)(6)Subsecs. (u) to (x). , added subsecs. (u) to (x).

Pub. L. 100–86, § 101(g)(1)ProvidedProvided furtherAugust 23, 19351987—Subsec. (g). , 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: , 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: , 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 , from specifically designated deposit accounts totaling not more than 15 per centum of the bank’s total deposits.”

Pub. L. 100–86, § 503(b)Subsec. (i). , amended subsec. (i) generally. Prior to amendment, subsec. (i) read as follows: “The term ‘new bank’ means a new national banking association organized by the Corporation to assume the insured deposits of an insured bank closed on account of inability to meet the demands of its depositors and otherwise to perform temporarily the functions prescribed in this chapter.”

Pub. L. 97–320, § 703(a)1982—Subsec. (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”.

lPub. L. 97–320, § 703(b)Subsec. ()(1). , inserted “thrift certificate, investment certificate, certificate of indebtedness, or other similar name,” before “or a check or draft drawn against a deposit account”.

Pub. L. 97–320, § 113(a)Subsec. (q)(4). , added par. (4).

Pub. L. 97–320, § 113(b)Subsec. (t). , added subsec. (t).

Pub. L. 97–110, § 103(a)(1)1981—Subsec. (a). , inserted “the Trust Territory of the Pacific Islands,” after “American Samoa,” wherever appearing.

lPub. L. 97–110, § 102Subsec. ()(5). , reenacted without change the provisions preceding subpar. (A), redesignated remaining existing provisions as subpar. (A), inserted reference to banks located outside of the Trust Territory of the Pacific Islands in subpar. (A) as thus redesignated, and added subpar. (B).

Pub. L. 97–110, § 103(a)(2)Subsec. (m)(1). , inserted “of the Trust Territory of the Pacific Islands,” after “American Samoa,”.

oPub. L. 97–110, § 103(a)(3)Subsec. (). , inserted “the Trust Territory of the Pacific Islands,” after “American Samoa,” wherever appearing.

Pub. L. 96–2211980—Subsec. (m)(1). substituted “$100,000” for “$40,000”.

Pub. L. 95–369, § 6(c)(2)1978—Subsec. (h). , inserted “(including a foreign bank having an insured branch)” after “The term ‘insured bank’ means any bank”.

Pub. L. 95–369, § 6(c)(3)Subsec. (j). , inserted “or of a branch of a foreign bank” after “affairs of a bank”.

Pub. L. 95–369, § 6(c)(4)Subsec. (m). , designated existing provisions as par. (1), inserted “Subject to the provisions of paragraph (2) of this subsection”, and added par. (2).

oPub. L. 95–630Subsec. (). inserted “domestic” before “branch” the first time it appeared, and inserted a definition of “foreign branch” at end.

Pub. L. 95–369, § 6(c)(5)Subsec. (q). , inserted reference to a Federal branch or agency of a foreign bank in par. (1), designated existing provisions of par. (2) as par. (2)(A) and added subpars. (B) to (E), inserted reference to a foreign bank having an insured branch in par. (3), and inserted closing provisions relating to the number of agencies which may be an appropriate Federal banking agency, and defining “insured bank” for purposes of section 1818(b) to (n) of this title.

Pub. L. 95–369, § 6(c)(6)Subsecs. (r), (s). , added subsecs. (r) and (s).

Pub. L. 93–4951974—Subsec. (m). 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”.

Pub. L. 91–609lo1970— inserted reference to American Samoa in subsecs. (a), (d), (e), ()(5), (m), and (), respectively.

Pub. L. 91–1511969—Subsec. (m). substituted $20,000 for $15,000 in first sentence.

Pub. L. 89–695 section 1817(i) of this title1966—Subsec. (m). , §§ 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 , 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.

Pub. L. 89–695, § 201Subsec. (q). , added subsec. (q).

lPub. L. 86–671l1960—Subsec. (). amended subsec. () 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.

Aug. 1, 19561956—Subsec. (a). Act , § 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”.

Aug. 1, 1956Subsecs. (d), (e). Act , § 3(b), inserted “Guam,” after “Puerto Rico,”.

lAug. 1, 1956Subsec. (). Act , § 3(c), inserted “Guam,” after “Puerto Rico,” in first proviso.

Aug. 1, 1956Subsec. (m). Act , § 3(d), inserted “of Guam,” after “of Puerto Rico,”.

oAug. 1, 1956Subsec. (). Act , § 3(b), inserted “Guam,” after “Puerto Rico,”.

lJuly 14, 19521952—Subsec. (). Act , made it compulsory for banks having branches in Puerto Rico to insure their deposits.

Statutory Notes and Related Subsidiaries

Effective Date of 2010 Amendment

section 312(c) of Pub. L. 111–203 section 5412(a) of this titleAmendment by effective on the transfer date, see .

section 334(b) of Pub. L. 111–203July 21, 2010section 4 of Pub. L. 111–203 section 5301 of this titleAmendment by effective 1 day after , except as otherwise provided, see , set out as an Effective Date note under .

section 363(1) of Pub. L. 111–203 section 351 of Pub. L. 111–203 section 906 of Title 2Amendment by effective on the transfer date, see , set out as a note under , The Congress.

Effective Date of 2006 Amendment

Pub. L. 109–173, § 4(b)Feb. 15, 2006119 Stat. 3606

Pub. L. 109–171 section 1817 of this titleJan. 1, 2007“This section [amending this section] and the amendments made by this section shall take effect on the date that the final regulations required under section 2109(a)(1) of the Federal Deposit Insurance Reform Act of 2005 [, set out as a Regulations note under ] take effect [, see 71 F.R. 69323].”

, , , provided that:

Pub. L. 109–173, § 8(b)Feb. 15, 2006119 Stat. 3616

osection 1831h of this titleMar. 31, 2006Pub. L. 109–171 section 1811 of this title“This section [amending this section and sections 1815 to 1818, 1821 to 1825, 1827, 1828, 1831a, 1831e, 1831m, 1831n, and 1831 of this title and repealing ] and the amendments made by this section shall take effect on the day of the merger of the Bank Insurance Fund and the Savings Association Insurance Fund [, see 71 F.R. 20524] pursuant to the Federal Deposit Insurance Reform Act of 2005 [subtitle B (§§ 2101–2109) of title II of , see Short Title of 2006 Amendment note set out under ].”

, , , provided that:

section 2102(b) of Pub. L. 109–171Feb. 8, 2006section 2102(c) of Pub. L. 109–171 section 1821 of this titleAmendment by effective no later than the first day of the first calendar quarter that begins after the end of the 90-day period beginning , see , set out as a Merger of BIF and SAIF note under .

Effective Date of 2004 Amendment

Pub. L. 108–386Oct. 30, 2004Pub. L. 108–386 section 321 of this titleAmendment by effective , and, except as otherwise provided, applicable with respect to fiscal year 2005 and each succeeding fiscal year, see sections 8(i) and 9 of , set out as notes under .

Effective Date of 1996 Amendment

Pub. L. 104–208, div. A, title II, § 2614(b)Sept. 30, 1996110 Stat. 3009–478

Sept. 30, 1996“The amendments made by subsection (a) [amending this section] shall apply to any liability of an insured depository that arises under an annuity contract issued on or after the date of enactment of this Act [].”

, , , provided that:

Pub. L. 104–208Jan. 1, 1999section 2704(c) of Pub. L. 104–208 section 1821 of this titleAmendment by section 2704(d)(6)(A), (14)(A) of effective , if no insured depository institution is a savings association on that date, see , formerly set out as a note under .

Effective Date of 1992 Amendment

Pub. L. 102–550 Pub. L. 102–242Dec. 19, 1991Pub. L. 102–242Dec. 19, 1992Pub. L. 102–550 Pub. L. 102–242 section 1609 of Pub. L. 102–550 section 191 of this titleAmendment by effective as if included in the Federal Deposit Insurance Corporation Improvement Act of 1991, , as of , except that where amendment is to any provision of law added or amended by effective after , then amendment by effective on effective date of amendment by , see , set out as a note under .

Effective Date of 1991 Amendment

section 131(c)(3) of Pub. L. 102–242Dec. 19, 1991section 131(f) of Pub. L. 102–242 section 1464 of this titleAmendment by effective 1 year after , see , set out as a note under .

section 311(b)(5)(A) of Pub. L. 102–242Dec. 19, 1991Dec. 19, 1991section 311(c)(2) of Pub. L. 102–242 section 1821 of this titleAmendment by not applicable to any time deposit which was made before , and matures after end of 2-year period beginning , with rollovers and renewals treated as new deposits, see , set out as a note under .

Effective Date of 1980 Amendment

Pub. L. 96–221Mar. 31, 1980section 308(e) of Pub. L. 96–221 section 1817 of this titleAmendment by effective , see , set out as a note under .

Applicability of 1980 Amendment

Pub. L. 96–221, title III, § 308(a)(2)Mar. 31, 198094 Stat. 147

section 308(e) of Pub. L. 96–221 section 1817 of this title“The amendments made by this subsection [amending this section and sections 1817 and 1821 of this title] are not applicable to any claim arising out of the closing of a bank prior to the effective date of this section [see , set out as a note under ].”

, , , provided that:

Effective Date of 1978 Amendment

Pub. L. 95–630Nov. 10, 1978section 2101 of Pub. L. 95–630 section 375b of this titleAmendment by effective on expiration of 120 days after , see , set out as an Effective Date note under .

Effective Date of 1974 Amendment

Pub. L. 93–495, title I, § 101(g)Oct. 28, 197488 Stat. 1502

Oct. 28, 1974“This section and the amendments made by it [amending this section and sections 1464, 1724, 1728, 1757, 1787, 1817, and 1821 of this title] shall take effect on the thirtieth day beginning after the date of enactment of this Act [].”

, , , provided that:

Pub. L. 93–495, title I, § 102(b)Oct. 28, 197488 Stat. 1502

“(b)

The amendments made by this section [amending this section and sections 1817 and 1821 of this title] are not applicable to any claim arising out of the closing of a bank prior to the effective date of this section.

“(c)

Oct. 28, 1974 The amendments made by this section shall take effect on the thirtieth day beginning after the date of enactment of this Act [].”

, (c), , , provided that:

Effective Date of 1969 Amendment

Pub. L. 91–151, § 7(b)Dec. 23, 196983 Stat. 375

Dec. 23, 1969“The amendments made by this section [amending this section and sections 1817 and 1821 of this title] are not applicable to any claim arising out of the closing of a bank prior to the date of enactment of this Act [].”

, , , provided that:

Effective Date of 1966 Amendment

Pub. L. 89–695, title IIIOct. 16, 196680 Stat. 1055

Oct. 16, 1966“The amendments made by this section [amending this section and sections 1817 and 1821 of this title] shall not be applicable to any claim arising out of the closing of a bank where such closing is prior to the date of enactment of this Act [].”

, §§ 301(e), , , provided that:

Expiration of 1966 Amendment

Pub. L. 91–609, title IX, § 908Dec. 31, 197084 Stat. 1811 section 401 of Pub. L. 89–695

section 77 of this titleJune 30, 1972Oct. 16, 1966“The provisions of titles I and II of this Act [amending this section and sections 1464, 1730, 1817 to 1820 of this title, repealing , and enacting provisions set out as notes under this section and sections 1464 and 1730 of this title] and any provisions of law enacted by said titles shall be effective only during the period ending at the close of . Effective upon the expiration of such period, each provision of law amended by either of such titles is further amended to read as it did immediately prior to the enactment of this Act [] and each provision of law repealed by either of such titles is reenacted”.

, , , repealed which had provided that:

Effective Date of 1960 Amendment

Pub. L. 86–671Jan. 1, 1961section 7 of Pub. L. 86–671 section 1817 of this titleAmendment by effective , see , set out as a note under .

Conditions Governing Employment of Personnel Not Repealed, Modified, or Affected

Pub. L. 89–695, title II, § 206Oct. 16, 196680 Stat. 1055

section 77 of this title 12 U.S.C. 1829“Nothing contained in this title [amending this section and sections 1817 to 1820 of this title and repealing ] shall be construed to repeal, modify, or affect the provisions of section 19 of the Federal Deposit Insurance Act ().”

, , , provided that:

Executive Documents

Termination of Trust Territory of the Pacific Islands

section 1681 of Title 48For termination of Trust Territory of the Pacific Islands, see note set out preceding , Territories and Insular Possessions.