Financial Institutions Regulatory Act

Definition

A Federal law that pertains to depository federal institutions that has made five distinct changes to them including the creation of the Central Liquidity Facility and the Federal Financial Institutions Examination Council. The act also changed the terms in which loans were offered to company directors and officers and it also authorized cease and desist orders to be placed upon them.
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Financial Institutions Reform, Recovery, And Enforcement Act Of 1989 (FIRREA) financial instrument