FSLIC


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FSLIC

abbr.
Federal Savings and Loan Insurance Corporation

FSLIC

Federal Savings and Loan Insurance Corporation.
References in periodicals archive ?
According to Curry and Shibut (2000, tables 1 and 4), the FSLIC made disbursements of $125 billion, and the RTC added $394 billion.
They enabled the FSLIC to avoid closing insolvent institutions on a timely basis and encouraged moral hazard excessive risk taking behavior by insolvent institutions.
From 1980 to 1982, 118 S&Ls (with $43 billion in assets) failed, costing the FSLIC an estimated $3.
The Ohio Deposit Guarantee Fund: The Ohio Alternative to FSLIC.
The calculations exclude FSLIC and RTC receiverships because the experience of the 1980s savings and loan crisis are expected to differ from bank resolution costs for reasons other than PCA.
So convinced were some S&L executives that their industry was invincible, that as late as December 1988 the head of the National Council of Savings Institutions was predicting that--in spite of huge losses to FSLIC and developing news stories about the industry's financial troubles and corruption--the recent increase in deposit insurance rates levied on S&Ls would be successfully repealed.
The debts left by the failed S&L institutions were so great (approximately $1 trillion) the FSLIC could not bail them out and subsequently went bankrupt in 1989 (Warf & Cox, 1996).
In response to the S&L crisis, Congress passed the Financial Institution Reform Recovery and Enforcement Act of 1989 (FIRREA), which abolished the FHLBB and FSLIC, and transferred regulatory power over S&Ls to the Office of Thrift Supervision and the FSLIC's insurance role to the FDIC.
real economic) basis, and were subject to various sanctions, including seizure, all of which had the potential to bankrupt the FSLIC (thrift) and FDIC (bank) insurance funds.
The FSLIC was allowed to offer insurance on the same terms as the FDIC.
Some of us old-timers remember the FSLIC takeover of FirstSouth in Pine Bluff as the beginning of a wave of S&L failures, and we worry that ANB could be the canary in the coal mine.