Quasi-public corporation

A corporation that is operated privately, but is supported by the government in its operations and that often traded publicly.

Quasi-Public Corporation

A publicly traded company partially owned or at least guaranteed by a government for some purpose thought to benefit the community. For example, a government may create a quasi-public corporation that sells mortgages to encourage homeownership. Quasi-public corporations are considered low-risk investments because of the express or implied guarantee that the government would not allow the company to go bankrupt. However, quasi-public corporations are required to place their mission above providing a profit to stockholders. See also: GSE.

quasi-public corporation

A privately operated firm having legislatively mandated public responsibilities. A quasi-public corporation may have publicly traded shares of stock. Fannie Mae is a quasi-public corporation established to make a secondary market in mortgages. The firm is privately owned but publicly traded and its shares of common stock are listed on the New York Stock Exchange.

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.

Quasi-public corporation.

In the United States, quasi-public corporations have links to the federal government although they are technically in the private sector.

This means that their managers and executives work for the corporation, not the government. And, in many cases, you can buy stock in a quasi-public corporation, expecting to share in its profits.

Many quasi-public corporations were originally federal agencies that have been privatized. Among the best known are Fannie Mae, Freddie Mac, and Sallie Mae. They securitize consumer loans and sell them in the secondary market.

The US Postal Service is also a quasi-public corporation, as is the Tennessee Valley Authority (TVA).

Mentioned in

Fannie Mae

References in periodicals archive

AIDEA, a quasi-public corporation of the State of Alaska, was created in 1967 by the Alaska Legislature "in the interests of promoting the health, security, and general welfare of all the people of the state, and a public purpose, to increase job opportunities and otherwise to encourage the economic growth of the state, including the development of its natural resources, through the establishment and expansion of manufacturing, industrial, energy, export, small business, and business enterprises."

Meet AIDEA: investing in enterprise infrastructure

Connecticut Innovations (CI) is a quasi-public corporation providing equity, debt and bond financing and other forms of financial assistance to companies in all stages of the business life cycle, from startup to later stage.

Connecticut Innovations Commits $200,000 in Second Round of Financing to Queralt Inc.

The Commonwealth Corporation, a quasi-public corporation within the Executive Office of Labor and Workforce Development, will distribute the grant and work with the Massachusetts Mentoring Partnership to train the recipients.

FROM THE REGION

WCF, a quasi-public corporation, has returned $302 million in dividends back to policy holders since 1992.

Ray Pickup: continuing a secure legacy

Structure: Not-for-profit, quasi-public corporation operating as a mutual insurance company

Breaking borders: some state workers' compensation funds have expanded beyond their original intent--and state borders--to write business in other states, and even to write other lines of business

The ruling states in its conclusion: "We affirm the district court's decision that the 'State of Utah has no ownership interest in the Workers' Compensation Fund or its assets other than as a policyholder.' As a quasi-public corporation, the WCF exists to serve an essential public purpose, to provide workers' compensation insurance, all the while being private in ownership.

Court rules on WCF ownership

Walker, who filed an ethics complaint alleging SAIF underreported its lobbying expenses, said she was trying to distinguish SAIF's role in being accountable for its spending and that of Goldschmidt's as the quasi-public corporation's consultant.

Goldschmidt lobbying clouds board appointment

KSD is a quasi-public corporation affiliated with the labor ministry that offers industrial insurance to small and medium-sized companies.

Labor Ministry never checked KSD affiliate

High profits, high prices, and an elitist image made the PGS a political issue in mass politics, and republicans decided that as a quasi-public corporation the company should liberalize its labor practices.

Big Business and Industrial Conflict in Nineteenth Century France: A Social History of the Parisian Gas Company

The CTC would be a quasi-public corporation, probably located in Washington, D.C., that would be established with a one-time congressional appropriation.

A new mechanism to fund R&D

MTDC is a Boston-based venture capital firm formed in 1978 as a quasi-public corporation by an act of the state Legislature.

MONEY BRIEFS

Fannie Mae and Freddie Mac, two quasi-public corporations that invest in about half the mortgages in the U.S., also were rescued.

Working toward recovery