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Bailout Bond |
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Bailout bond A bond issued by the Resolution Funding Corporation (Refcorp) to save the failing savings and loan associations in the late 1980s and early 1990s.
Bailout Bond A bond issued by the Resolution Funding Corporation in order to raise funds for the Resolution Trust Corporation. That is, bailout bonds were issued in order to pay for the closure, reorganization, and the financing of savings and loans that went bankrupt during the S&L crisis. The principal on bailout bonds were guaranteed by zero-coupon Treasury bonds, meaning that they were backed by the full faith and credit of the United States government. See also: Financial Institutions Reform, Recovery and Enforcement Act of 1989. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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Hopefully, once the $15 billion bailout bond issue is behind us, the governor and legislators will have some breathing room to turn their attention to producing leaner, more effective state services. AVC's acting president, Jackie Fisher, also said it would be beneficial to postpone the bond election to avoid conflict with the state deficit bailout bond proposed by Gov. |
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