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Bank Insurance Fund |
Also found in: Acronyms | 0.02 sec. |
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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 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. 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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| 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. 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. 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. |
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