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Example Sentences
Danny M. Wall, who oversaw the FSLIC, sought investors from outside the S&L business to pump new capital into the failures but by September had made just 35 deals.
Congress passed a law in 1987 prohibiting most federally insured S and Ls from abandoning the FSLIC, but Great Western's executives plan to circumvent the ban by merging with a Washington State savings bank that is already covered by the FDIC.
The total cost to FSLIC: nearly $4 billion.
The payout, which temporarily slashes the federal insurance fund's cash balance by 40%, to $1.9 billion, is likely to heighten the debate over the adequacy of the FSLIC's resources to deal with the troubled thrift industry.
But most of the $1.35 billion payout will come from the FSLIC's reserve fund, which is largely composed of premiums collected from S and Ls.
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