What Does Federal Deposit Insurance Corporation Improvement Act of 1991 (FDICIA) Mean?
The Federal Deposit Insurance Corporation Improvement Act (FDICIA) is a law passed on December 19, 1991 to grant more powers to the Federal Deposit Insurance Corporation (FDIC). The main objectives of FDICIA are to require the least costly resolutions of insured depository institutions, improve the supervision and examination of insurance businesses, and grant additional resources to the Bank Insurance Fund.