savings and loan association

(redirected from Thrift institutions)
Also found in: Thesaurus, Legal, Financial, Encyclopedia.
Related to Thrift institutions: Savings institutions

savings and loan association

n. Abbr. S & L
A financial institution, organized cooperatively or corporately, that holds the funds of its members or clients in interest-bearing accounts and certificates of deposit, invests these funds chiefly in home mortgage loans and may also offer checking accounts and other banking services.

savings and loan association

n
(Banking & Finance) a US name for a building society

sav′ings and loan′ associa`tion


n.
a government-regulated savings institution in which deposits are exchanged for shares of ownership and funds are invested chiefly in home mortgages.
ThesaurusAntonymsRelated WordsSynonymsLegend:
Noun1.savings and loan association - a thrift institution that is required by law to make a certain percentage of its loans as home mortgages
thrift institution - a depository financial institution intended to encourage personal savings and home buying
building society - British equivalent of United States savings and loan association
References in periodicals archive ?
Revised Uniform Agreement on the Classification of Assets and Appraisal of Securities Held by Banks and Thrift Institutions.
The Securities and Exchange Commission (SEC) published for comment two rules, one of which would grant thrift institutions a limited exception from Investment Advisers Act requirements governing the manner and extent to which such entities may hold themselves out to the public as providers of investment advisory services (www.
Financiers such as insurance companies, thrift institutions and commercial banks were increasingly eager to establish a presence in the region.
With the signing of the Small Business Job Protection Act of 1996 (SBJPA), banks and thrift institutions (as defined in Sec.
Moreover, so long as federal banking regulations forced banks and thrift institutions to hold down interest rates on savings accounts well below the general rate of inflation, only a fool would expect to retire comfortably on a passbook account.
NYB has been an active acquirer of thrift institutions in the New York metropolitan area.
undersecretary of the Treasury for domestic finance, told members of the Senate Banking, Housing and Urban Affairs Committee that the failure of one or two large thrift institutions could exhaust the slender reserves of the Savings Association Insurance Fund (SAIF), leaving it insolvent.
According to MBA, in most cases lenders including banks, thrift institutions, and other funding sources, require a minimum level of owner occupancy to underwrite a first underlying mortgage (the financing that encumbers the building) and to finance an individual share loan (the loan on a specific unit).
The annual "Sm-All-Star" ratings screened 573 small cap bank and thrift institutions on eight financial and growth criteria.
The Federal Reserve Board announced on November 18, 2004, the names of six new members of its Thrift Institutions Advisory Council (TIAC) and designated a new president and vice president of the council for 2005.
Rubin did say, however, that the thrift industry's return on assets is half that of the banking industry, and there are 51 thrift institutions with $27.
OTS's mission is to ensure the safety and soundness of thrift institutions and to support their role as home mortgage lenders and providers of other community credit and financial services.