FSLIC

(redirected from Federal Savings and Loan Insurance Corporation)
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FSLIC

abbr.
Federal Savings and Loan Insurance Corporation

FSLIC

Federal Savings and Loan Insurance Corporation.
References in periodicals archive ?
In 1989, legislation to reform the federal deposit insurance system created three funds to be administered by FDIC: the Bank Insurance Fund (BIF) and the Savings Association Insurance Fund (SAIF), which protect bank and savings deposits, and FRF, which was created to close out the business of the former Federal Savings and Loan Insurance Corporation. In accordance with subsequent legislation passed in 2006, FDIC merged the BIF and SAIF into DIF on March 31, 2006.
In Lincoln Savings & Loan Assn., 403 US 345 (1971), the Supreme Court addressed the proper tax treatment of Lincoln Savings' special insurance premium payments to the Federal Savings and Loan Insurance Corporation. In holding that such payments could not be deducted under Sec.
In contrast, the Federal Savings and Loan Insurance Corporation, created by the National Housing Act of 1934 to insure deposits in thrifts, would be a subsidiary of the Federal Home Loan Bank System.
banks and savings institutions must contribute to paying off the $780 million annual interest payments on $8 billion of Financing Corporation (FICO) bonds that were issued in the late 1980s to bail out the savings and loan industry by recapitalizing the defunct Federal Savings and Loan Insurance Corporation. Beginning January 1, 1997, banks insured by the BIF will pay $322 million annually and SAIF-insured institutions will pay $458 million annually toward FICO interest.
By the late 1980s, the difficulties of many S&Ls far exceeded the capability of the Federal Savings and Loan Insurance Corporation to resolve them.
THE FINAL BILL FOR THE S&L CRISIS is being tallied up, and like the bar tab for a drunken night on the town, it is simultaneously sobering and stomach-churning: at least $200 billion in government funds to pay depositors' claims against the Federal Deposit Insurance Corporation and the now-defunct Federal Savings and Loan Insurance Corporation. And on top of that already staggering figure are less obvious costs--such as additional interest payments on the national debt, an overbuilt real-estate market financed by high-risk loans, and losses of personal net worth for people who bought homes shortly before the bubble burst--that will continue to act as a drag on the national economy for some time to come.
For example, the legislation creating the Federal Savings and Loan Insurance Corporation, the National Housing Act of 1934, is incorrectly referred to as the Federal Savings and Loan Insurance Corporation Act (p.
Or take the Federal Savings and Loan Insurance Corporation (FSLIC), which insures the savings of thrift institution depositors.
GAO reviewed information systems general controls in the calendar year 2001 financial statement audits of the Federal Deposit Insurance Corporation's (FDIC) Bank Insurance Fund, Savings Association Insurance Fund, and Federal Savings and Loan Insurance Corporation Resolution Fund.
The court also rejected the Tax Court's application of Lincoln Savings & LoanAss'n, 403 US 345 (1971), in which the Supreme Court held that payments a bank made to a reserve fund of the Federal Savings and Loan Insurance Corporation created a separate and distinct asset that required capitalization.
Budget deters "double dipping." In the late 1980s, the Federal Savings and Loan Insurance Corporation (FSLIC) agreed to compensate buyers of troubled thrifts for the difference between the book value and the ultimate sales proceeds of so-called covered assets acquired in the transactions.
Late last year, as public attention increasingly focused on the financial condition of the industry and its insurance fund, institutions insured by the Federal Savings and Loan Insurance Corporation (FSLIC) began to lose deposits at a significant rate.
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