Savings Association Insurance Fund


Also found in: Acronyms.

Savings Association Insurance Fund (SAIF)

A government organization that replaced the Federal Savings and Loan Insurance Corporation as the provider of deposit insurance for thrift institutions.

Savings Association Insurance Fund

A pool of money created in 1989 by the FDIC to insure deposits made in savings and loan associations (or thrifts). The SAIF was created to separate thrift insurance money from regular bank insurance money (which came from the Bank Insurance Fund). While this was likely beneficial for a time because of the savings and loan crisis, it created a perverse incentive for banks and thrifts to reclassify themselves as the other (i.e., a bank to a thrift or a thrift to a bank), depending on which fund had lower fees. This led to the passage of the Federal Deposit Insurance Act of 2005, which abolished the Savings Association Insurance Fund and the Bank Insurance Fund and created a single Deposit Insurance Fund.

Savings Association Insurance Fund (SAIF)

The federal fund that insures deposits at savings and loan associations. SAIF was created in 1989 as a successor to the Federal Savings & Loan Insurance Corporation and is administered by the Federal Deposit Insurance Corporation.
References in periodicals archive ?
In GAO's opinion, FDIC fairly presented the 2002 and 2001 financial statements for the three funds it administers--the Bank Insurance Fund, the Savings Association Insurance Fund, and the FSLIC Resolution Fund.
The functions of these organizations (and their employees) were reallocated: Regulatory functions fell to the new Office of Thrift Supervision, insurance functions fell to the new Savings Association Insurance Fund of the Federal Deposit Insurance Corporation (FDIC) and receivership functions fell in the near term to the new Resolution Trust Corporation (RTC) and in the longer term to the FDIC.
He urged members of the House Banking Committee to push ahead with a compromise that would return full funding to the Savings Association Insurance Fund, whose financial problems are yet another legacy of the 1980s savings and loan disaster.
the Federal Deposit Insurance Corporation, the Bank Insurance Fund, the Savings Association Insurance Fund, or any other government agency.
The FDIC is using PORTIA to provide portfolio management, performance and analysis for over $40 billion in investment securities, held by the Bank Insurance Fund and the Savings Association Insurance Fund.
All deposits (up to $100,000 per account) remain insured by the FDIC's Savings Association Insurance Fund.
South Bergen Savings Bank's deposits are insured by the Savings Association Insurance Fund (SAIF) of the Federal Deposit Insurance Corporation (FDIC).
a) -- Reflects a $1,000,000 Net Charge for a Special Assessment by the Savings Association Insurance Fund.
23 per share, due to a special assessment on thrifts to recapitalize the Savings Association Insurance Fund ("SAIF").
5 million to recapitalize the Savings Association Insurance Fund.
The increase of $564,134 in net income between 1997 and 1996 is primarily the result of the $804,184 Federal Deposit Insurance Corporation (FDIC) one time special assessment to recapitalize the Savings Association Insurance Fund (SAIF) that was charged against third quarter earnings in 1996.
19 per share for the same quarter last year, excluding the one-time FDIC special assessment to recapitalize the Savings Association Insurance Fund booked on September 30, 1996.

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