Resolution Funding Corporation(redirected from REFCORPs)
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.
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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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved
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.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.