FSLIC


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Federal Savings and Loan Association

A federally chartered bank that specializes in taking deposits for checking and savings accounts, as well as making home mortgages. Savings and loan associations tend to be smaller than other banks and are more focused on the local communities in which they operate. It is sometimes (but not always) easier to obtain a loan from a savings and loan association because it may have better knowledge of the local market. They derive most of their funds from customer savings accounts, but they also generally have easy access to loans from the Federal Home Mortgage Banks. They are also known as thrifts. They are regulated by the Office of Thrift Supervision.

FSLIC

See Federal Savings and Loan Insurance Corporation.
References in periodicals archive ?
Combined with FSLIC insurance this encouraged risky real-estate investments whose values declined in the late 1980s.
In not staking for itself an explicit claim to the future profits of zombie firms, FSLIC encouraged private owners and managers to take poorly structured, longshot gambles.
Ely (1993) estimates that, had all insolvent thrifts been resolved by mid-1983, the total cost to the FSLIC would have amounted to $30 billion.
The cost of bailing out the FSLIC, Grace said, is estimated at $500 billion.
In the financial services sector, federal regulatory authorities have accessed D&O insurance to recoup FDIC and FSLIC insured losses.
In response to the proliferation of more-sophisticated malware tools such as Zbot, clampi, and ZeuS, the FFIEC, FDIC, FRB, FTC, FBI, FSLIC, SPIC issued special alerts to financial institutions including FDIC FIL-66-2005 titled "Guidance on Mitigating Risk from Spyware.
There are important similarities between the PBGC's current situation and the situation faced by the FSLIC in the 1980s.
He also provides representation to financial institutions in matters involving defaulted bonds and securitization programs, FSLIC, RTC, and FDIC receiverships, and the liquidation of pooled or securitized assets through litigation, negotiated settlements, asset foreclosures, and other techniques for the winding up or rehabilitation of troubled financing arrangements.
The FSLIC recovered its property from West Energy Inc.
Noting that the FSLIC was a separate entity from the FHLBB, the Service determined "[u]nder the facts of this case" that the assistance agreement between the FSLIC and the taxpayer did not grant or promise the branching rights.
Dangers of Capital Forbearance: The Case of the FSLIC and 'Zombie' S&Ls," Contemporary Policy Issues, January 1987, 77-83.
As pointed out by Kane (1989), the FSLIC was economically insolvent as early as 1984, if accumulated and projected losses were reported in the GAO's estimate.