Resolution Funding Corporation(redirected from REFCORPs)
Resolution Funding Corporation (RefCorp)
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.