Financial Institutions Regulatory Act

AAA

DEFINITION of 'Financial Institutions Regulatory Act'

A United States Federal law enacted in 1978 pertaining to depository financial institutions. The act made 5 major changes to these institutions. The act created the Central Liquidity Facility and the Federal Financial Institutions Examination Council (FFIEC), made electronic funds transfers federally regulated, changed the terms under which loans were provided to directors, officers, etc, as well as authorized cease and desist orders to be placed on them.

INVESTOPEDIA EXPLAINS 'Financial Institutions Regulatory Act'

The FFIEC was formed to offer advice on how to regulate and create standards for depository financial institutions. The Central Liquidity Facility was formed to lend money to credit unions on a short-term basis to help them in times of need.

RELATED TERMS
  1. Federal Reserve Bank

    The central bank of the United States and the most powerful financial ...
  2. Federal Financial Institutions ...

    An interagency body of the U.S. government made up of several ...
  3. Credit Union

    Member-owned financial co-operative. These institutions are created ...
  4. Liquidity

    1. The degree to which an asset or security can be bought or ...
  5. Loan

    The act of giving money, property or other material goods to ...
  6. National Credit Union Administration ...

    An agency of the United States federal government that was created ...
Related Articles
  1. Tired Of Banks? Try A Credit Union
    Retirement

    Tired Of Banks? Try A Credit Union

  2. Are Your Bank Deposits Insured?
    Savings

    Are Your Bank Deposits Insured?

  3. Getting To Know The Money Market
    Options & Futures

    Getting To Know The Money Market

  4. The Best Way To Borrow
    Retirement

    The Best Way To Borrow

comments powered by Disqus
Hot Definitions
  1. Correlation

    In the world of finance, a statistical measure of how two securities move in relation to each other. Correlations are used ...
  2. Letter Of Credit

    A letter from a bank guaranteeing that a buyer's payment to a seller will be received on time and for the correct amount. ...
  3. Due Diligence - DD

    1. An investigation or audit of a potential investment. Due diligence serves to confirm all material facts in regards to ...
  4. Certificate Of Deposit - CD

    A savings certificate entitling the bearer to receive interest. A CD bears a maturity date, a specified fixed interest rate ...
  5. Days Sales Of Inventory - DSI

    A financial measure of a company's performance that gives investors an idea of how long it takes a company to turn its inventory ...
  6. Accounts Payable - AP

    An accounting entry that represents an entity's obligation to pay off a short-term debt to its creditors. The accounts payable ...
Trading Center