A Brief History of Deposit Insurance

A Brief History of Deposit Insurance

This publication provides information on the state deposit insurance programs that existed in the 1800s and early 1900s, the banking crisis of 1930s, and the establishment of the FDIC. It describes the FDIC's early years, its experience during and after World War II, the turbulent decades of the 1970s and 1980s, and the recovery achieved in the 1990s. Major legislative changes and economic influences are noted. Finally, deposit insurance issues are discussed that were current at the time of the FDIC-sponsored International Conference on Deposit Insurance in 1998. The document does not fully address the savings-and-loan crisis of the 1980s because the FDIC did not receive deposit insurance responsibility for S&Ls until 1989.

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Table of Contents

• Acknowledgements
• Chapter 1 - Introduction
• Chapter 2 - Antecedents of the FDIC Deposit Insurance
  • Insurance of Bank Obligations, 1829 - 1866
  • Guaranty of Circulating Notes by the Federal Government
  • State Insurance of Bank Deposits, 1908 - 1930
  • Congressional Proposals for Deposit Insurance, 1886 - 1933
• Chapter 3 - Establishment of the FDIC
  • Banking Developments, 1930 - 1932
  • The Banking Crisis of 1933
  • Federal Deposit Insurance Legislation
  • Deposit Insurance Provisions of the Banking Act of 1933
  • Formation of the Federal Deposit Insurance Corporation
  • The Temporary Federal Deposit Insurance Fund
  • Deposit Insurance and Banking Developments in 1934
• Chapter 4 - The Early Years: 1934 - 1941
  • Capital Rehabilitation
  • Safety-and-Soundness Examination Policy
  • The Banking Act of 1935
  • Insured-Bank Failures
• Chapter 5 - War and Recovery: 1942 - 1970
  • Effects of the War on the FDIC
  • Post-World War II Developments
  • Insured-Bank Failures
  • Financial Operations
• Chapter 6 - A Costly Evolution: 1971 - 1991
  • Key Economic Variables
  • Developments in the Banking Industry
  • Safety-and-Soundness Examination Policy
  • Insured-Bank Failures
  • Financial Operations
• Chapter 7 - A Remarkable Turnaround: 1992 - 1998
  • Developments in the Banking Industry
  • FDICIA
  • Depositor Preference
  • Insured-Bank Failures
  • Financial Operations
• Chapter 8 - Current Issues in Deposit Insurance
  • The Year 2000 Date Change
  • Consolidation and Bank Failures
  • Merger of the Insurance Funds
  • Definition of the Assessment Base
  • Optimal Size of the Insurance Fund
  • Bank Practices and Supervisory Ratings
• Appendix
  • A-1. Bank Insurance Fund Failures and Losses, 1934 - 1997
  • A-2. Insured Deposits and the Bank Insurance Fund, 1934 - 1997
  • A-3. Income and Expenses of the Bank Insurance Fund, 1933 - 1997

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