Which Statute Initiated Risk-Based Deposit Premiums

question 78

Multiple Choice

Which statute initiated risk-based deposit premiums?

• A)the Financial Institutions Reform, Recovery, and Enforcement Act (FIRREA)
• B)the Depository Institutions Deregulation and Monetary Control Act (DIDMCA)
• C)the Federal Deposit Insurance Corporation Improvement Act (FDICIA)
• D)the McFadden Act

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Definitions:

Floating Lien

A lien on a debtor's assets that changes over time with the inventory levels or changes in collateral included under the lien.

Purchase-Money Security Interest

A legal claim or lien that grants the lender a security interest in the item being purchased, as collateral for the loan.

Right of Redemption

A debtor's legal right to reclaim property that has been foreclosed upon or repossessed by paying off debt, usually within a specific period.

Continuation Statement

A statement that, if filed within six months prior to the expiration date of the original financing statement, continues the perfection of the original security interest for another five years. The perfection of a security interest can be continued in the same manner indefinitely.