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Bank Insurance Fund

   Also found in: Acronyms 0.02 sec.
Bank Insurance Fund (BIF)
A unit of the Federal Deposit Insurance Corporation (FDIC) that provides deposit insurance for banks excluding thrifts.
Bank Insurance Fund
The federal fund administered by the Federal Deposit Insurance Corporation, which insures the deposits of individuals who invest at banks that are members of the Federal Reserve System. This includes all national banks and state banks that choose to join the Fed. The fund was created in 1989 in order to separate the insurance funds for commercial banks from those that insure thrift institutions.
Bank Insurance Fund

The new name of the former fund of the Federal Deposit Insurance Corporation (FDIC).The FDIC is still alive and kicking,only the fund has changed names.



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The FDIC administers and maintains the Savings Association Insurance Fund (SAIF) and the Bank Insurance Fund (BIF), to which a taxpayer paid exit and entrance fees, respectively, as part of its acquisition of a failed savings and loan, which the taxpayer then converted from a savings association into a bank.
Deductibility of exit and entrance fees paid to the FDIC by Gibbs, Paul K. / The Tax Adviser
The unified group would be insured by a single entity that combines the current Bank Insurance Fund, which insures banks, and the Savings Association Insurance Fund, which insures thrifts.
Merger mania likely to continue at financial institutions in 1997 by Young, Douglas / Los Angeles Business Journal
urged passage of a bipartisan compromise to bring the Savings Association Insurance Fund to full funding and merge it with the separate and healthy bank insurance fund.
GREENSPAN TO CONGRESS REVIVE S&L RESCUE FUND by Daily News (Los Angeles, CA)
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