thrift


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Related to thrift: Thrift Bank

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.

thrift

A financial institution that derives its funds primarily from consumer savings accounts. The term originally referred to those institutions offering mainly passbook savings accounts. But the industry evolved through financial deregulation to the point where these accounts often provide only a small source of funds for many thrifts. The term often refers to savings and loan associations, but can also mean credit unions and mutual savings banks.
References in periodicals archive ?
Frequent Thrifters: The survey results show that close to 80 percent of respondents have shopped at thrift stores, and almost 40 percent of thrift shoppers visit thrift stores at least monthly.
8220;I think it's funny when people immediately sing verses of the Thrift Shop song when Asternotes comes up in a conversation,” Polhill says.
At the end of the third quarter of 2008, the OTS supervised 818 thrifts with assets of $1.
The federal banking and thrift institution regulatory agencies on July 20, 2004, issued a final rule amending their risk-based capital standards.
We find that total advances to thrift institutions rose sharply over the 1980s, reached a peak in 1988, and declined in the latter part of the 1980s and early 1990s.
The amount of capital reserves a thrift had to keep on hand in case of crisis was lowered, then lowered again.
Financial analysts are maintaining a decidedly "wait and see" attitude about the strength of the new merged thrift, since both the Dime and Anchor are far from being debt free, and there are other problems.
Thus, traditionally, the important source of thrift competition for loan originators has come from mortgage bankers who offer mortgages to homeowners strictly with a view to reselling them.
Nearly four in five Canadian parents (77 percent) parents have visited thrift stores and 48 percent of parents would be most likely to shop at a thrift store for clothing or shoes this back-to-school season.
Treasures from Grace Thrift Supercenter were artistically packaged and displayed on tables and racks.
Banks and thrift institutions are required to maintain minimum levels of capital set by U.
Although it does not make sense that an institution would raise excess capital to begin with, this situation is actually created by Office of Thrift Supervision (OTS) regulatory requirements, rather than poor capital planning.