### Question
What is the definition of transferred deposit?


### Answer
The definition of **transferred deposit** is as follows in *12 U.S.C. § 1813*:

> a deposit in a new bank or other insured depository institution made available to a depositor by the Corporation as payment of the insured deposit of such depositor in a closed bank, and assumed by such new bank or other insured depository institution

#### Citation:
  - *12 U.S.C. § 1813*
  - Heading: **CHAPTER 16-FEDERAL DEPOSIT INSURANCE CORPORATION**

