Also found in: Financial.
DIDMCADepository Institutions Deregulation and Monetary Control Act
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Deregulation began in 1980 with DIDMCA, which phased out all deposit rate ceilings except the prohibition of paying interest on demand deposits.
Aharony, Saunders, and Swary (1988) observe that total risk increased following the DIDMCA banking deregulation but that systematic risk declined following deregulation.
148) But this legislation indicates that if a state wishes to stop payday loan companies from renting the charters of national and out-of-state banks, there might be a way to do so that would not require Congress to amend the NBA and DIDMCA.
DIDMCA and the merger waves may have induced some of the changes in my sample period.
The events preceding the enactment of DIDMCA suggested that the period of effective government regulation of interest rates was over.
In addition to deregulating the S&L industry, DIDMCA contained a federal override of state usury laws.
The study period includes a number of years prior to the pattern of deregulation in the form of the DIDMCA (Depository Institution Deregulation and Monetary Control Act of 1980) and the GARNST (Garn-St.
DIDMCA phased out the Federal Reserve's Regulation Q, which, dating from the 1930s, had set interest-rate ceilings (zero percent for checking accounts) on bank deposits.
11) DIDMCA preempted state usury ceilings for most home mortgage loans.
The DIDMCA also deregulated interest rates on bank deposits, with January 1986 completing the phase-out of Regulation Q.