The First Fifty Years

A History of the FDIC 1933-1983

Published in 1984 on the FDIC's fiftieth anniversary, this publication includes information on the antecedents to federal deposit insurance, the creation of the FDIC in 1933-35, and a general history of the FDIC with a focus on the Corporation's insurance coverage and financial operations, its role in handling bank failures, and its function as a bank supervisor and examiner.

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• Prologue - PDF File (283k)
• Acknowledgements
• Chapter 1 Introduction - PDF File (368k)
  • Background
  • The Early Years
  • The Period 1942-1972
  • The Period 1973 - Present
• Chapter 2 Antecedents of the FDIC - PDF File (1,228k)
  • Insurance of Bank Obligations, 1829-1866
  • Guaranty of Circulating Bank Notes by the Federal Government
  • State Insurance of Bank Deposits, 1908-1930
  • Congressional Proposals for Deposit Guaranty or Insurance, 1886-1933
  • Summary
• Chapter 3 Establishment of the FDIC - PDF File (1,049k)
  • 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
  • Proposals to Amend the Permanent Insurance Law
  • Inauguration of Permanent Plan of Insurance of Bank Deposits
• Chapter 4 Insurance Coverage and Financial Operations of the FDIC - PDF File (1,049k)
  • Financial Operations
  • Income and Expenses of the FDIC
  • The Deposit Insurance Fund
  • Insurance Coverage
  • Organization and Staffing
• Chapter 5 Handling Bank Failures - PDF File (1,456k)
  • Procedures Used in Handling Failures - Early Years
  • FDIC as Receiver
  • Cost Test
  • Closed-Bank Purchase and Assumption Transactions
  • Bank Failures Since 1970
  • Large Bank P&As
  • Open-Bank Assistance
  • Penn Square Bank
  • Recent Open-Bank Assumption Transactions
  • Assisted Mergers of Mutual Savings Banks
  • FDIC Liquidation Activity
  • Present Liquidation Procedures
  • Summary
• Chapter 6 Bank Examination and Supervision - PDF File (1,050k)
  • Historical Overview
  • Admission Examinations
  • Capital Rehabilitation
  • Safety and Soundness Examination Policy
  • Compliance, EDP and Trust Examinations and Other Supervisory Functions
  • Enforcement Powers
  • Problem Banks Federal and State Cooperation
  • Summary
• Epilogue - PDF File (298k)
• Appendix: The Boards of Directors of the FDIC
• Bibliography