FSLIC


Also found in: Dictionary, Financial, Wikipedia.
AcronymDefinition
FSLICFederal Savings & Loan Insurance Corporation
References in periodicals archive ?
Contained antifraud provisions National Housing Created the FSLIC to insure deposits in Act of 1934 savings and loan associations Banking Act of 1935 1.
During the S&L crisis, FSLIC liquidated the failed institutions' assets and distributed the proceeds to creditors.
In a four-month period from February to May, FSLIC took control of 200 insolvent thrifts.
insured exclusion is to prevent collusion between insureds; therefore, because the FDIC is more than a successor-in-interest to a failed S&L, the FDIC is a genuinely adverse party to the D&Os; and (2) the FSLIC does not only stand in the shoes of the failed S&L, but also acts on behalf of depositors, creditors, shareholders, and the federal insurance fund.
The FSLIC was created to provide federal insurance for savings accounts of up to $5000 at S&Ls.
This is exactly what happened when the FSLIC exhausted its deposit insurance fund in the midst of the S&L crisis.
such as the collapse of the Ohio state deposit insurance fund, and more recently the collapse of the Rhode Island credit union insurance funds, not to mention the problems that contributed to the collapse of the FSLIC (Federal Savings and Loan Insurance Corporation).
Moreover, the associated combined losses to uninsured depositors, other stakeholders, and the FSLIC and FDIC were the highest in U.
FSLIC furnished dividend-free risk capital and supplied enough of it to fill in the holes in troubled firms' balance sheets for over thirty years.
After the insolvency of the FSLIC, the FDIC assumed responsibility for insuring deposits in savings associations.
This corporation, fully capitalized by the FSLIC, was to manage and dispose of assets of failed savings and loans.