### Question
How does the law define depository institution?


### Answer
Under *12 U.S.C. § 1861*, **depository institution** is defined as:

> an insured bank, financial institution subject to examination by the Federal Home Loan Bank Board or the National Credit Union Administration Board, or a financial institution the accounts or deposits of which are insured or guaranteed under State law and are eligible to be insured by the Federal Deposit Insurance Corporation, the Federal Savings and Loan Insurance Corporation, or the National Credit Union Administration Board

#### Citation:
  - *12 U.S.C. § 1861*
  - Heading: **CHAPTER 18-BANK SERVICE CORPORATIONS**

