### Question
How is the term transferred deposit defined?


### Answer
The term **transferred deposit** is defined in *12 U.S.C. § 1813* as the following:

> 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 15-FEDERAL LOAN AGENCY**

