DIDMCA

E781032

DIDMCA is the commonly used acronym for the Depository Institutions Deregulation and Monetary Control Act, a 1980 U.S. law that significantly reshaped banking regulation and Federal Reserve authority.

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Label Occurrences
DIDMCA canonical 1

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Statements (50)

Predicate Object
instanceOf United States federal statute
banking law
acronymFor Depository Institutions Deregulation and Monetary Control Act
affects commercial banks
credit unions
mutual savings banks
savings and loan associations
alsoKnownAs Monetary Control Act of 1980
amends Federal Deposit Insurance Act
Federal Reserve Act
Home Owners' Loan Act
National Housing Act
authorizes Negotiable Order of Withdrawal accounts
nationwide NOW accounts
codifiedIn United States Statutes at Large
country United States
creates Depository Institutions Deregulation Committee
effect increased Federal Reserve authority over monetary aggregates
liberalization of deposit interest rate rules
reduced regulatory distinctions among types of depository institutions
enactedBy 96th United States Congress
expands access of depository institutions to Federal Reserve services
extends Federal Reserve reserve requirements to nonmember depository institutions
fullName Depository Institutions Deregulation and Monetary Control Act of 1980
grantsAuthorityTo Board of Governors of the Federal Reserve System
Federal Reserve Banks
historicalContext enacted during late 1970s and early 1980s financial deregulation wave in the United States
jurisdiction United States federal government
phasesOut Regulation Q interest rate ceilings on deposit accounts
linked to: Regulation Q
phasesOutOverPeriod six years
policyArea banking and financial institutions regulation
monetary policy and inflation
primarySubject banking regulation
financial deregulation
monetary policy
provides for uniform reserve requirements for all depository institutions
publicLawNumber Public Law 96-221
purpose to deregulate interest rates on deposits
to extend Federal Reserve services to more depository institutions
to improve monetary control
regulates depository institutions
relatedTo Federal Reserve reserve requirement policy
Garn–St. Germain Depository Institutions Act of 1982
Regulation Q
requires all depository institutions to meet Federal Reserve reserve requirements on transaction accounts
shortName Depository Institutions Deregulation and Monetary Control Act
signedBy Jimmy Carter
signingDate 1980-03-31
titleContains Monetary Control Act
yearEnacted 1980

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