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118) FIRREA abolished the FHLBB and the FSLIC, gave the FDIC initial responsibility for managing the Resolution Trust Corporation (RTC), and assigned the FDIC permanent responsibility for operating the new Savings Association Insurance Fund (SAIF).
IRCA 1966 when the Fed, at the behest of FHLBB, took the unprecedented step of lowering the ceiling to reduce pressure on thrifts who were experiencing disintermediation to banks because banks were able to pay higher rates on their deposits (Mayer, Duesenberry, and Aliber, 1990, pp.
de la Cuesta, the Court suggested that it would be broadly deferential to the preemption decisions of the FHLBB on the theory that the HOLA was "a radical and comprehensive response to the inadequacies of the existing state systems.
FHLBB, FHA, and FSLIC have since been merged into or brought
Unfortunately, the FHLBB was not required to apply the Shelley ruling in its supervision of thrifts, and it was under no obligation to urge thrifts to participate in minority lending programs.
In 1980, and again in 1982, the FHLBB lowered the net-worth requirements for S&Ls, which kept S&Ls that were on the verge of insolvency in business, and S&Ls were allowed to extend their lending activities into more risky areas--with minimal oversight, as the FHLBB lacked capacity to identify insolvent institutions because the number of field examiners at the agency was reduced significantly between 1981 and 1984 due to budgetary cuts and deregulation.
insured loans, which were never allowed to draw from FHLBB funds at the
League of Savings Associations--as well as homebuilders, realtors, and others who benefited from imprudent S&L lending--brought pressure on the FHLBB to adopt a policy known as forbearance.
By January 1982, the capital requirement had been lowered by the FHLBB to only 3 percent.
After the FHLBB conducted a yearlong examination of Lincoln Savings, Keating enlisted five U.
In early 1985, the FHLBB devised the MCP for insolvent thrifts where the managements were unlikely to observe and obey the necessary supervisory controls.
Countercyclical FHLBB policy implications for S&L equities 23 (2) 1988 p.
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