Thrift institution


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Thrift institution

An organization formed as a depository for primarily consumer savings. Savings and loan associations and savings banks are thrift institutions.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved
References in periodicals archive ?
Accounting for Contingencies, says a set of circumstances exists involving uncertainty about the possible loss to thrift institutions holding these obligations.
The managements of thrift institutions and their auditors must recognize and adjust to the risk inherent in their loan portfolios.
(22.) The Board previously has indicated that it may consider the competitiveness of a thrift institution at a level greater than 50 percent of its deposits when appropriate.
The Federal Reserve Board of Governors established its CDIAC in 2010 as a mechanism for community banks, thrift institutions, and credit unions (with assets of $10 billion or less) to provide input to the Board on the economy, lending conditions and other issues.
The recent slowdown in residential construction could reduce the demand for mortgages, commercial real estate and construction loans--activities that have been important factors in loan growth for banks and thrift institutions in recent years, according to a report by the Federal Deposit Insurance Corporation (FDIC).
Further detailed are the federal reserve system; regulation of the banking market, securities market, and insurance; thrift institutions; pension funds, retirements accounts, and social security; and current controversies.
* The Securities and Exchange Commission (SEC) published for comment two rules, one of which would grant thrift institutions a limited exception from Investment Advisers Act requirements governing the manner and extent to which such entities may hold themselves out to the public as providers of investment advisory services (www.sec.gov/news/press/200458.htm).
At the same time, there were 7,887 FDIC-insured commercial banks and 1,534 insured thrift institutions (savings and loan associations and mutual savings banks).
Treasury bureau that regulates the nation's thrift institutions, such as savings banks.
(Riverwoods, IL) has released CCH 1999 Bank Tax Guide, a new desktop reference that includes relevant rules, strategies and analysis on the taxation of banks and thrift institutions. Targeted to bank controllers and financial officers, CPAs and attorneys with bank pratices, the volume covers such topics as: applying market-to--market rules to an institution; determining if S Corporation status is right for an institution; properly treating credit card fees, points and non-performing loans; preventing disallowance of loan origination expenses; accounting for interest, fee and other income; modified debt; foreclosures; business expenses; bad-debt deductions; and, acquisitions.
With the signing of the Small Business Job Protection Act of 1996 (SBJPA), banks and thrift institutions (as defined in Sec.
In fact, the banking industry posted record net profits in 1992, and the vast majority of surviving thrift institutions were in the black.