Thrift institution


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Thrift institution

An organization formed as a depository for primarily consumer savings. Savings and loan associations and savings banks are thrift institutions.

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.
References in periodicals archive ?
Accounting for Contingencies, says a set of circumstances exists involving uncertainty about the possible loss to thrift institutions holding these obligations.
The managements of thrift institutions and their auditors must recognize and adjust to the risk inherent in their loan portfolios.
The Board previously has indicated that it may consider the competitiveness of a thrift institution at a level greater than 50 percent of its deposits when appropriate.
The financial advisor recommended initially targeting a thrift institution with assets of $200 million to $300 million located in Virginia or neighboring areas.
The federal bank, thrift institution, and credit union regulatory agencies on October 14, 2004, announced the publication of a new consumer resource, Protecting Yourself from Overdraft and Bounced-Check Fees.
The federal bank and thrift institution regulatory agencies announced on October 27, 2004, the publication of a joint Federal Register notice and request for comment on proposed guidance for Internal Ratings-Based Systems for Retail Credit Risk for Regulatory Capital.
The Securities and Exchange Commission (SEC) published for comment two rules, one of which would grant thrift institutions a limited exception from Investment Advisers Act requirements governing the manner and extent to which such entities may hold themselves out to the public as providers of investment advisory services (www.
Thrift institutions sold $1,695 million worth of annuities in the 4th quarter of 2003, down 18 percent from $2,073 million in the previous quarter, according to BIMRG.
Financiers such as insurance companies, thrift institutions and commercial banks were increasingly eager to establish a presence in the region.
With the signing of the Small Business Job Protection Act of 1996 (SBJPA), banks and thrift institutions (as defined in Sec.
The annual "Sm-All-Star" ratings screened 573 small cap bank and thrift institutions on eight financial and growth criteria.