Financing Corporation

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Financing Corporation (FICO)

A government agency chartered in 1987 to bail out the Federal Savings and Loan Insurance Corporation (FSLIC) by issuing bonds.

Financing Corporation

A bond-issuing entity established by the U.S. Congress in 1987 to recapitalize the Federal Savings and Loan Insurance Corporation. The bonds it issued were to be repaid with FSLIC insurance premiums and funds made available by the Federal Home Loan Bank System. The funds it raised were insufficient to prevent insolvency and the FSLIC was abolished in 1989.
References in periodicals archive ?
Creating separate financing corporations is common among California school districts, including Pasadena, San Jose and San Francisco, according to the district's bond counsel, Christina N.
By creating its own nonprofit financing corporation, which involves few expenses other than about $5,000 in start-up costs, the district can save those fees, officials said.