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12 U.S.C. § 1816 — Factors to be considered
Federal law — U.S. Code and appendices · legal_authorities
The factors that are required, under [section 1814 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1814&num=0&edition=prelim), to be considered in connection with, and enumerated in, any certificate issued pursuant to [section 1814 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1814&num=0&edition=prelim) and that are required, under [section 1815 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1815&num=0&edition=prelim), to be considered by the Board of Directors in connection with any determination by such Board pursuant to [section 1815 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1815&num=0&edition=prelim) are the following:
(1) The financial history and condition of the depository institution.
(2) The adequacy of the depository institution’s capital structure.
(3) The future earnings prospects of the depository institution.
(4) The general character and fitness of the management of the depository institution.
(5) The risk presented by such depository institution to the Deposit Insurance Fund.
(6) The convenience and needs of the community to be served by such depository institution.
(7) Whether the depository institution’s corporate powers are consistent with the purposes of this chapter.
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Source location: Title 12, Chapter 16, § 1816; chapter-016-federal-deposit-insurance-corporation.md
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The factors that are required, under [section 1814 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1814&num=0&edition=prelim), to be considered in connection with, and enumerated in, any certificate issued pursuant to [section 1814 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1814&num=0&edition=prelim) and that are required, under [section 1815 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1815&num=0&edition=prelim), to be considered by the Board of Directors in connection with any determination by such Board pursuant to [section 1815 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1815&num=0&edition=prelim) are the following:
(1) The financial history and condition of the depository institution.
(2) The adequacy of the depository institution’s capital structure.
(3) The future earnings prospects of the depository institution.
(4) The general character and fitness of the management of the depository institution.
(5) The risk presented by such depository institution to the Deposit Insurance Fund.
(6) The convenience and needs of the community to be served by such depository institution.
(7) Whether the depository institution’s corporate powers are consistent with the purposes of this chapter.
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Application to Corporation required**
(1) **In general** — Except as provided in paragraphs (2) and (3), any depository institution which is engaged in the business of receiving deposits other than trust funds (as defined in [section 1813(p) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1813/p&num=0&edition=prelim)), upon application to and examination by the Corporation and approval by the Board of Directors, may become an insured depository institution.
(2) **Interim depository institutions** — In the case of any interim Federal depository institution that is chartered by the appropriate Federal banking agency and will not open for business, the depository institution shall be an insured depository institution upon the issuance of the institution’s charter by the agency.
(3) **Application and approval not required in cases of continued insurance** — Paragraph (1) shall not apply in the case of any depository institution whose insured status is continued pursuant to [section 1814 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1814&num=0&edition=prelim).
(4) **Review requirements** — In reviewing any application under this subsection, the Board of Directors shall consider the factors described in [section 1816 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1816&num=0&edition=prelim) in determining whether to approve the application for insurance.
(5) **Notice of denial of application for insurance** — If the Board of Directors votes to deny any application for insurance by any depository institution, the Board of Directors shall promptly notify the appropriate Federal banking agency and, in the case of any State depository insti
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Federal law — U.S. Code and appendices · legal_authorities
### Statutory Notes
#### Codification
Section, act Dec. 23, 1913, ch. 6, § 12B, as added June 16, 1933, ch. 89, § 8, 48 Stat. 168; amended June 16, 1934, ch. 546, § 1 (1)–(10), 48 Stat. 969, 970; June 28, 1935, ch. 335, 49 Stat. 435; Aug. 23, 1935, ch. 614, title I, § 101, 49 Stat. 684; Apr. 21, 1936, ch. 244, 49 Stat. 1237; May 25, 1938, ch. 276, 52 Stat. 442; June 16, 1938, ch. 489, 52 Stat. 767; June 20, 1939, ch. 214, § 2, 53 Stat. 842; Apr. 13, 1943, ch. 62, § 1, 57 Stat. 65; Aug. 5, 1947, ch. 492, §§ 2, 4, 61 Stat. 773; June 25, 1948, ch. 645, § 21, 62 Stat. 862; Oct. 15, 1949, ch. 695, § 4, 63 Stat. 880; Aug. 17, 1950, ch. 729, §§ 5–7, 64 Stat. 457, relating to the Federal Deposit Insurance Corporation, was withdrawn from the Federal Reserve Act and made a separate act to be known as the Federal Deposit Insurance Act, by section 1 of act Sept. 21, 1950, ch. 967, 64 Stat. 873. The Federal Deposit Insurance Act is classified to chapter 16 (§ 1811 et seq.) of this title.
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Establishment of Corporation** There is hereby established a Federal Deposit Insurance Corporation (hereinafter referred to as the “Corporation”) which shall insure, as hereinafter provided, the deposits of all banks and savings associations which are entitled to the benefits of insurance under this chapter, and which shall have the powers hereinafter granted.
**(b) Asset disposition division**
(1) **Establishment** — The Corporation shall have a separate division of asset disposition.
(2) **Management** — The division of asset disposition shall have an administrator who shall be appointed by the Board of Directors.
(3) **Responsibilities of division** — The division of asset disposition shall carry out all of the responsibilities of the Corporation under this chapter relating to the liquidation of insured depository institutions and the disposition of assets of such institutions.
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Deposit insurance**
(1) **Insured amounts payable**
(A) *In general* — The Corporation shall insure the deposits of all insured depository institutions as provided in this chapter.
(B) *Net amount of insured deposit* — The net amount due to any depositor at an insured depository institution shall not exceed the standard maximum deposit insurance amount as determined in accordance with subparagraphs (C), (D), (E) and (F) and paragraph (3).
(C) *Aggregation of deposits* — For the purpose of determining the net amount due to any depositor under subparagraph (B), the Corporation shall aggregate the amounts of all deposits in the insured depository institution which are maintained by a depositor in the same capacity and the same right for the benefit of the depositor either in the name of the depositor or in the name of any other person, other than any amount in a trust fund described in paragraph (1) or (2) of [section 1817(i) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1817/i&num=0&edition=prelim) or any funds described in [section 1817(i)(3) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1817/i/3&num=0&edition=prelim).
(D) *Coverage for certain employee benefit plan deposits*
(i) *Pass-through insurance* — The Corporation shall provide pass-through deposit insurance for the deposits of any employee benefit plan.
(ii) *Prohibition on acceptance of benefit plan deposits* — An insured depository institution that is not well capitalized or adequately capitalized may not accept employee benefit plan deposits.
(iii) *Definitions* — For purposes of this subparagraph, the following definitions shall apply:
(I) *Capital standards* — The terms “well ca
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Continuation of insurance**
(1) **Banks** — Each bank, which is an insured depository institution on September 21, 1950, shall be and continue to be, without application or approval, an insured depository institution and shall be subject to the provisions of this chapter.
(2) **Savings associations** — Each savings association the accounts of which were insured by the Federal Savings and Loan Insurance Corporation on the day before August 9, 1989, shall be, without application or approval, an insured depository institution.
**(b) Continuation of insurance upon becoming a member bank** In the case of an insured bank which is admitted to membership in the Federal Reserve System or an insured State bank which is converted into a national member bank, the bank shall continue as an insured bank.
**(c) Continuation of insurance after conversion** Subject to [section 1815(d) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1815/d&num=0&edition=prelim) and [section 1464(i)(5) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title12-section1464/i/5&num=0&edition=prelim)—
(1) any State depository institution which results from the conversion of any insured Federal depository institution; and
(2) any Federal depository institution which results from the conversion of any insured State or Federal depository institution,
shall continue as an insured depository institution.
**(d) Continuation of insurance after merger or consolidation** Any State depository institution or any Federal depository institution which results from the merger or consolidation of insured depository institutions, or from the merger or consolidation of a noninsured depository institution with an insured depository institution, sh
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Federal law — U.S. Code and appendices · legal_authorities
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,
including any cooperative bank or other unincorporated bank the deposits of which were insured by the Corporation on the day before August 9, 1989.
(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** — The term “Federal savings association” means any Federal savings association or Federal savings bank which is chartered under [section 1464 of t
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Representations of deposit insurance**
(1) **Insured depository institutions**
(A) *In general* — Each insured depository institution shall display at each place of business maintained by that institution a sign or signs relating to the insurance of the deposits of the institution, in accordance with regulations to be prescribed by the Corporation.
(B) *Statement to be included* — Each sign required under subparagraph (A) shall include a statement that insured deposits are backed by the full faith and credit of the United States Government.
(2) **Regulations** — The Corporation shall prescribe regulations to carry out this subsection, including regulations governing the substance of signs required by paragraph (1) and the manner of display or use of such signs.
(3) **Penalties** — For each day that an insured depository institution continues to violate paragraph (1) or any regulation issued under paragraph (2), it shall be subject to a penalty of not more than $100, which the Corporation may recover for its use.
(4) **False advertising, misuse of FDIC names, and misrepresentation to indicate insured status**
(A) *Prohibition on false advertising and misuse of FDIC names* — No person may represent or imply that any deposit liability, obligation, certificate, or share is insured or guaranteed by the Corporation, if such deposit liability, obligation, certificate, or share is not insured or guaranteed by the Corporation—
(i) by using the terms “Federal Deposit”, “Federal Deposit Insurance”, “Federal Deposit Insurance Corporation”, any combination of such terms, or the abbreviation “FDIC” as part of the business name or firm name of any person, including any corporation, partnership, business trust, association, or other business entity; or
(ii)
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Federal law — U.S. Code and appendices · legal_authorities
Page 982
TITLE 12—BANKS AND BANKING
§ 1816
Act of 1956 (12 U.S.C. 1843(k))) and, if applicable, from
the ownership or control of one or more insured deposi-
tory institutions, represent less than 15 percent of the
consolidated annual gross revenues of the company.’’
[For definitions of terms used in section 602 of Pub.
L. 111–203, set out above, see section 5301 of this title.]
§ 1816. Factors to be considered
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 con-
nection with any determination by such Board
pursuant to section 1815 of this title are the fol-
lowing:
(1) The financial history and condition of the
depository institution.
(2) The adequacy of the depository institu-
tion’s capital structure.
(3) The future earnings prospects of the de-
pository institution.
(4) The general character and fitness of the
management of the depository institution.
(5) The risk presented by such depository in-
stitution to the Deposit Insurance Fund.
(6) The convenience and needs of the commu-
nity to be served by such depository institu-
tion.
(7) Whether the depository institution’s cor-
porate powers are consistent with the purposes
of this chapter.
(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.)
Editorial Notes
PRIOR PROVISIONS
Section is deriv
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