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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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After the election, they plan to start issuing a series of $200 million pension bailout bonds without a vote of the citizens who will be paying for them. A government agency established by Congress in 1989 to issue bailout bonds and raise funds for the activities of the Resolution Trust Corporation, as well as to administer struggling institutions inherited from the disbanded Federal Savings At the moment, Californians have signed a $4 billion marker with Wall Street - interest due on recently approved bailout bonds. |
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