Laws & Regulation - FDIC

Article Index

Federal Deposit Insurance Corporation --- The Federal Deposit Insurance Corporation (FDIC) is an independent agency created by the Congress to maintain stability and public confidence in the nation's financial system by: insuring deposits, examining and supervising financial institutions for safety and soundness and consumer protection, and managing receiverships.

Financial and Banking Information Infrastructure Committee --- The Financial and Banking Information Infrastructure Committee (FBIIC) is chartered under the President's Working Group on Financial Markets, and is charged with improving coordination and communication among financial regulators, enhancing the resiliency of the financial sector, and promoting the public/private partnership. Treasury's Assistant Secretary for Financial Institutions chairs the committee.

Federal Financial Institutions Examination Council --- The Council is a formal interagency body empowered to prescribe uniform principles, standards, and report forms for the federal examination of financial institutions by:

the Board of Governors of the Federal Reserve System (FRB)
the Federal Deposit Insurance Corporation (FDIC)
the National Credit Union Administration (NCUA),
the Office of the Comptroller of the Currency (OCC)
the Consumer Financial Protection Bureau (CFPB), 

and to make recommendations to promote uniformity in the supervision of financial institutions. In 2006, the State Liaison Committee (SLC) was added to the Council as a voting member. The SLC includes representatives from:

the Conference of State Bank Supervisors (CSBS)
the American Council of State Savings Supervisors (ACSSS), and
the National Association of State Credit Union Supervisors (NASCUS).