Federal Savings and Loan Insurance Corporation

noun

1. a public corporation, established in 1934, that insures, up to a specified amount, all deposits in member savings and loan associations. : FSLIC

Example Sentences

Within six years, the Resolution Trust Corporation and the Federal Savings and Loan Insurance Corporation had sold $519 billion worth of assets for 1,043 thrifts that had gone belly up.

From Salon

The primary goal of the statute was to overhaul the banking system by getting rid of the Federal Savings and Loan Insurance Corporation, which had run out of money, and expand the power of regulators to protect against abuses by insiders who often treated savings and loans as their own personal piggy banks.

From New York Times

Rather, the bad real estate loans that bankrupted the now defunct Federal Savings and Loan Insurance Corporation are placing a serious drain on its former counterpart, the once seemingly invulnerable FDIC.

From Time Magazine Archive

So the California giant, the third largest savings and loan association in the U.S., with assets of $31 billion, was indignant in 1987, when the fees it pays the Federal Savings and Loan Insurance Corporation for insurance coverage on deposits went up by 150%, to $43 million a year.

From Time Magazine Archive

Reason: the Federal Savings and Loan Insurance Corporation, a Bank Board unit that insures S and L deposits, would soon run out of money if it simply shut down the troubled giants.

From Time Magazine Archive