Resolution Funding Corporation


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Resolution Funding Corporation (RefCorp)

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 and Loan Corporation.

Resolution Funding Corporation

An agency established by the Financial Institutions Reform, Recovery and Enforcement Act of 1989 to fund the Resolution Trust Corporation, which in turn was charged with bailing out insolvent savings & loan associations. REFCORP funded its own activities by issuing zero-coupon bonds through the US Treasury.

Resolution Funding Corporation (REFCORP)

The federal agency responsible for issuing up to $40 billion of long-term debt required to finance activities of the Resolution Trust Corporation, a group that closed and merged insolvent thrift institutions during the late 1980s and early 1990s. The principal of REFCORP debt is backed by zero-coupon Treasury bonds.
References in periodicals archive ?
LLC, whereby investors gain exposure to a yield-enhanced, zero-coupon bond issued by Resolution Funding Corporation (RefCorp Zero).
The certificates are affirmed at 'AAA', as their principal balance is protected by a $5 million par value zero-coupon bond issued by Resolution Funding Corporation.
The certificates are affirmed at 'AAA', as their principal balance is protected by $5 million par value zero-coupon bonds issued by Resolution Funding Corporation, which is backed by the U.
and direct non-callable interest strips of the Resolution Funding Corporation
and the Resolution Funding Corporation and senior unsubordinated obligations of FNMA, the Federal Home Loan Mortgage Corporation, and the Federal Farm Credit System.