12 U.S.C. § 1816 — Factors to be considered
submitted 76 years ago by ch. 967 to r/title-12-BANKS-AND-BANKING · 152 words · no verdicts yet
When the cited insurance provisions require consideration of factors, the decision-maker must consider seven listed factors. They include the institution's finances, management, community needs, and risk to the Deposit Insurance Fund.
The factors that section 1814 of this title requires to be considered in connection with, and listed in, a certificate issued under section 1814, and that section 1815 requires the Board of Directors to consider when making a decision under section 1815, are: (1) the depository institution's financial history and condition; (2) whether its capital structure is adequate; (3) its prospects for future earnings; (4) the general character and fitness of its management; (5) the risk it presents to the Deposit Insurance Fund; (6) the convenience and needs of the community it will serve; and (7) whether its corporate powers are consistent with this chapter's purposes.
The factors that are required, under section 1814 of this title, to be considered in connection with, and enumerated in, any certificate issued pursuant to section 1814 of this title and that are required, under section 1815 of this title, to be considered by the Board of Directors in connection with any determination by such Board pursuant to section 1815 of this title are the following:
The financial history and condition of the depository institution.
The adequacy of the depository institution’s capital structure.
The future earnings prospects of the depository institution.
The general character and fitness of the management of the depository institution.
The risk presented by such depository institution to the Deposit Insurance Fund.
The convenience and needs of the community to be served by such depository institution.
Whether the depository institution’s corporate powers are consistent with the purposes of this chapter.
Source credit: (Sept. 21, 1950, ch. 967, § 2[6], 64 Stat. 876; Pub. L. 101–73, title II, § 207, Aug. 9, 1989, 103 Stat. 206; Pub. L. 104–208, div. A, title II, § 2704(d)(14)(F), Sept. 30, 1996, 110 Stat. 3009–491; Pub. L. 109–171, title II, § 2102(b), Feb. 8, 2006, 120 Stat. 9; Pub. L. 109–173, § 8(a)(7), Feb. 15, 2006, 119 Stat. 3611.)
- 1950Enacted · Act of Sept. 21, 1950, ch. 967 · 64 Stat. 876
- 1989Amended · Pub. L. 101-73 · 103 Stat. 206
- 1996Amended · Pub. L. 104-208 · 110 Stat. 3009
- 2006Amended · Pub. L. 109-171 · 120 Stat. 9
- 2006Amended · Pub. L. 109-173 · 119 Stat. 3611
A history note hasn’t been published yet. The record shows enactment by ch. 967 on 1950-09-21.
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